The initial share sale of Go Fashion was subscribed for 135.40 times on the 3rd and final day of bidding. The company managed to receive 1,09,39,82,631 subscriptions against a total allotment of 80,79,491 equity shares.
Leading women’s bottom wear brand, Go Fashion’s IPO consisted of fresh share issuance worth Rs. 125 crores and an offer for sale aggregating to 12.88 million equity shares. The company finalised the sale of its shares at a price band of Rs. 655 – Rs. 690 per share.
The following sections contain a detailed overview of Go Fashion IPO performance over different segments of investors on the final bidding day.
Go Fashion IPO Performance During IPO Closing Date – The Final Verdict
Here is how Go Fashion’s initial public offering performed over varied investor segments on the final bidding day, i.e., 22 November 2021:
- The Qualified Institutional Buyers segment witnessed bidding for 44,39,24,124 shares, against an allotment of 44,06,996 shares.
- The Non-institutional Investors segment took in bids for 57,75,01,092 shares, where 22,03,497 shares were reserved for them in total.
- The Retail Individual Investors segment sought 7,25,57,415 shares out of 14,68,998 reserved shares.
Follow the below table to know how many times each investor segment subscribed to this IPO on its final bidding day:
Overall, Go Fashion allocated 54.55% equity shares to the QIB category. At the same time, RIIs and NIIs were allocated 18.18% and 27.27% equity shares respectively.
A Closer Look at Go Fashion Anchor Investment
On 16 November 2021, Go Fashion received Rs. 456.12 crores from 33 anchor investors.
After a thorough consultation with its lead managers, the company decided to reserve 66,10,492 shares to anchor investors at the upper price band, i.e., Rs. 690 a share.
Marquee investors participating in this anchor book were:
- Government of Singapore
- Monetary Authority of Singapore
- Abu Dhabi Investment Authority
- University of Notre Dame Du LAC
- Neuberger Berman Emerging Markets Equity Master Fund
- Volrado Venture Partners Fund II
In addition, various domestic investors also participated in this anchor book, including:
- SBI Mutual Fund
- ICICI Prudential
- HDFC Trustee
- SBI Life Insurance
- Axis Mutual Fund
- Aditya Birla Sun Life
- Kotak Mutual Fund
Go Fashion aims to utilise the net proceeds from this public offer for the following purposes:
- Funding the launch of 120 exclusive brand outlets
- Financing working capital requirements
- General corporate purposes
Day 1 and Day 2 Highlights of Go Fashion IPO
The below table represents the performance of Go Fashion IPO during the initial bidding days:
|Day of Bidding||QIB||NII||RII||Total|
|Day 1||0.25 times||0.44 times||12.14 times||2.46 times|
|Day 2||3.24 times||2.30 times||24.64 times||6.87 times|
Go Fashion’s initial share continued to witness strong investor demand during its IPO closing date. The company features a robust financial record and an efficient operating model with a multi-channel retail presence. Its well-diversified product portfolio offers a stellar first-mover benefit to the company.
Frequently Asked Questions
- When is the listing date of Go Fashion IPO?
Go Fashion IPO will list on the bourses on 30 November 2021.
- What is the basis of allotment date of Go Fashion IPO?
The basis of allotment date for this IPO is 25 November 2021.
- Where Go Fashion’s will shares list?
Go Fashion’s shares will list on both BSE and NSE.