Go Fashion Raises Rs. 456 Crores in the Anchor Investment Round

5 August 2022
3 mins read
Go Fashion Raises Rs. 456 Crores in the Anchor Investment Round

Go Fashion, the parent company of women’s bottom wear brand, Go Colors, has raised Rs. 456 in the anchor investment. This was ahead of the IPO, which the company has scheduled to take place on Wednesday, 17 November 2021.

Here are more details regarding the anchor investment round of Go Fashion.

Key Highlights of the Anchor Investment Round of Go Fashion

  • Go Fashion had decided to allot around 66,10,492 equity shares at Rs. 690 apiece.
  • There were a total of 33 anchor investors in the round, making the entire raised amount equal to Rs. 456.12 crores.
  • The anchor investors were as follows:
    • Abu Dhabi Investment Authority
    • Aditya Birla Sun Life Mutual Fund
    • Axis Mutual Fund
    • Fidelity
    • Government of Singapore
    • HDFC Mutual Fund
    • ICICI Prudential Mutual Fund
    • Monetary Authority of Singapore
    • Nomura
    • SBI Life Insurance Company
    • SBI Mutual Fund

Key Highlights of Go Fashion’s IPO on 17 November 2021

Here are more details regarding the IPO of Go Fashion.

  • This IPO will run from 17 November 2021 to 22 November 2021.
  • This IPO consists of a newissue of equity shares that round up in value to Rs. 125 crores. 75% of Go Fashion’s issue has been set apart for qualified institutional buyers, 15% for non-institutional buyers and 10% for retail investors.
  • Moreover, there is also an offer of sale (OFS) of 12,878,389 equity shares fromprevious shareholders and promoters.
  • The first Offer of Sale (OFS) is from the VKS Family Trust and PKS Family Trust. They aregoing to sell 7.45 lakh equity
  • Moreover, Dynamic India Fund S4 US I is selling up to 5,76,000 equity shares.
  • India Advantage Fund will sell around 33,11,000 shares.
  • Finally, Sequoia Capital India Investments will dilute 74.98 lakh shares.
  • Further, the price band of this issue is at Rs. 655 – Rs. 690 apiece.
  • The IPO is likely to fetch Rs. 1,013.6 crores at the upper price band.
  • Finally, these shares will begin trading on the National Stock Exchange and the Bombay Stock Exchange from 30 November 2021.
  • The bids can take place in orders of 21 equity shares and subsequent multiples.

Bottom Line

Investors and experts expect Go Fashion’s IPO to perform well in the IPO and subsequently on the stock exchange. However, time will only tell how the stock of this company performs.

 

Frequently Asked Questions

  1. What is the present stake of the promoters and shareholders?

Ans.  Dynamic India Fund has a 1.1% stake in Go Fashion, and India Advantage Fund owns a 12.69% stake. Meanwhile, Sequoia Capital holds around 28.73%, while the VKS and PKS Family Trusts own approximately 28.74% in Go Fashion each.

  1. Why is Go Fashion seeking to raise money in the IPO?

Ans. Go Fashion plans to use the money raised from this IPO to finance its general corporate requirements and support the working capital needs. Moreover, they plan to start 120 brand outlets.

  1. What does Go Fashion do?

Ans. Go Fashion made a name for itself by becoming a category seller in bottom wear for women. They sell leggings, pants, palazzos, culottes, etc.