The public issue of Go Fashion, the owner of women’s bottom-wear brand, “Go Colors”, will be opening for subscription on 17 November 2021, Friday. As per the draft papers filed with SEBI, this IPO will contain fresh issuance of equity shares amounting to Rs. 125 crores. Moreover, it will include a secondary issue wherein promoters, and existing shareholders of the company will be offloading a portion of their holding via an offer for sale (OFS).
Are you interested in applying for this forthcoming initial share sale? Make sure that you know the vital details concerning it. We’ll check them out in the next section.
Don’t Forget These GO Fashion IPO Details
Let’s look at some key details of this initial share sale that you must keep in mind:
- Face Value Per Share: 10
- Issue Type:Book built issue
- Listing on:NSE and BSE
- Market Lot:21 equity shares
- Price Band: To be announced
Go Fashion will utilise a portion of the funds raised via its IPO to roll out 120 new exclusive brand outlets. This company will use the rest of the net proceeds to meet working capital requirements and fulfil general corporate purposes.
The table below represents the reserved portion across different categories of investors:
|Investor Category||Reserved Portion (%)|
|Qualified Institutional Buyers (QIB)||75|
|National Institutional Investors (NII)||15|
|Retail Individual Investors (RII)||10|
Before applying for the initial public offering of Go Fashion, you must consider various aspects, such as the company’s financial health, strengths, and more.
A Quick Glimpse at Go Fashion’s Financials
Let’s take a look at some financial highlights of Go Fashion:
|Financial Year||Overall Revenue (Rs.)||Overall Assets (Rs.)||Profit after Tax (Rs.)|
|2018-2019||2,909.79 million||4,041.31 million||309.41 million|
|2019-2020||3,968.39 million||5,191.86 million||526.34 million|
|2020-2021||2,822.52 million||5,483.67 million||(35.39 million)|
What Provides Go Fashion with A Competitive Edge?
Here are certain strengths of GO Fashion that give this company a competitive edge in the industry:
- This company is one of the leading women’s bottom-wear brands in India; it enjoys a first-mover advantage.
- Go Fashion has a multifaceted product portfolio.
- It has a prudent operating model.
- Go Fashion has a proven track record in terms of financial performance.
- This Chennai-based company has a presence in different parts of India; As of 31 May 2021, GO Fashion had more than 440 exclusive brand outlets across the country.
- It caters to the requirements of its customers via multiple sales channels.
Go Fashion has a favourable position in the industry considering its financial standing and competitive strengths. That said, before you apply for its public issue, make sure to consider the company’s threats, opportunities and weaknesses. Furthermore, it would be prudent to place the Go Fashion IPO order after doing a competitor analysis.
After this public issue opens for subscription, you can apply by logging in to your web trading account via the Angel One app. In case you’re investing for the first time, you can open a trading account with Angel One to subscribe to this upcoming initial share sale.
Frequently Asked Questions
- Which companies are the lead managers for Go Fashion IPO?
The merchant bankers for this public issue are DAM Capital Advisors Ltd, JM Financial Consultants Private Limited, and ICICI Securities Limited.
- When are shares of GO Fashion getting listed on stock exchanges?
The tentative listing date of Go Fashion is 30 November 2021.
- What is the closing date of Go Fashion IPO?
The closing date of Go Fashion IPO is 22 November 2021
- Which entity is the registrar to the public issue of Go Fashion?
The registrar to Go Fashion IPO is KFintech Private Limited.
- Who are the promoters of Go Fashion?
The promoters of Go Fashion are Vks Family Trust, Pks Family Trust, Gautam Saraogi, Prakash Kumar Saraogi, and Gautam Saraogi.
- What is the basis of the allotment publication date for Go Fashion IPO?
The tentative basis of allotment publication date is 25 November 2021.
- What percentage of the shares do promoters of the company hold?
Pre-IPO promoter shareholding in Go Fashion is 57.47%.