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  3. Go Fashion IPO

Go Fashion IPO

Go Fashion is one of the leading names of women’s fashion in India. Incorporated in 2010, the company specialises in designing, manufacturing, marketing and retailing women’s bottom wear. They have a wide product portfolio that includes more than 50 styles and 120 colours. Under its brand Go Colors, the company sells its current offerings. As of May 2021, the company has more than 400 exclusive retail outlets, spreading across 23 Indian states and union territories. Besides its own channel, the company also supplies and sells products through large apparel retail outlets like Central, Reliance Fashion, Spencer’s, Globus Stores, etc. Presence in large format stores, like the ones mentioned above for Go Fashion, has grown from 925 stores in 2019 to 1332 in 2021. Apart from its physical presence, online retail also contributes significantly to its revenue.

Go Fashion IPO Objectives

- Meeting the roll-out expenses of its new 120 exclusive brand outlets
- Supporting working capital needs
- Meeting general corporate purposes

Go Fashion IPO - Details

As per the Draft Red Herring Prospectus filed by the company with India's Securities and Exchange Board, Go Fashion is looking to raise about Rs. 1013 crores. This will include both fresh issue equity shares and an offer for sale. Go Fashion has plans to raise about Rs. 125 crores through the fresh issue share sales. The offer for sale will include 12,878,389 equity shares at face value of Rs. 10 per share. Additionally, there is no news about any pre-IPO placement of shares. Furthermore, the company promoters here are –
1. Prakash Kumar Saraogi
2. Rahul Saraogi
3. Gautam Saraogi
4. VKS family trust
5. PKS family trust
Moving ahead, Go Fashion has appointed the following as its book running lead managers –
1. ICICI Securities Limited
2. JM Financial Limited
3. DAM Capital Advisors Limited is previously known as IDFC Securities Limited
Moreover, KFin Technologies Private Limited is the registrar of this initial public offering.

Opening Date

Nov 17, 2021

Closing Date

Nov 22, 2021

Price Band

₹655 to ₹690

per equity share

Issue Size

₹ 1,013.61 Cr

Face Value

₹ 10

per equity share

Market Lot

21 shares

Opening Date

Nov 17, 2021

Closing Date

Nov 22, 2021

Price Band

₹655 to ₹690

per equity share

Issue Size

₹ 1,013.61 Cr

Face Value

₹ 10

per equity share

Market Lot

21 shares

Listing at NSE, BSE

Go Fashion IPO Important Dates

IPO Open Date Nov 17, 2021
IPO Close Date Nov 22, 2021
Basis Of Allotment Date Nov 25, 2021
Initiation Of Refunds Nov 26, 2021
Credit Of Shares To
Demat ACcount		 Nov 29, 2021
IPO Listing Date Nov 30, 2021

Go Fashion IPO Latest News and Subscription Status Today [Live]

At 10.40:00 AM.

- This IPO has been subscribed 10.63x by 10:40 AM. on Day 3

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 3.39x

- (NII) Non-institutional buyers: 8.65x

- (RII) Retail Individual buyers: 35.33x



At 11.40:00 AM.

- This IPO has been subscribed 12.50x by 11:40 AM. on Day 3

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 4.09x

- (NII) Non-institutional buyers: 12.10x

- (RII) Retail Individual buyers: 38.34x



At 12.40:00 PM.

- This IPO has been subscribed 18.28x by 12:40 PM. on Day 3

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 9.09x

- (NII) Non-institutional buyers: 21.63x

- (RII) Retail Individual buyers: 40.85x



At 1.40:00 PM.

- This IPO has been subscribed 47.06x by 1:40 PM. on Day 3

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 21.66x

- (NII) Non-institutional buyers: 100.43x

- (RII) Retail Individual buyers: 43.20x



At 3.10:00 PM.

- This IPO has been subscribed 88.81x by 3:10 PM. on Day 3

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 58.85x

- (NII) Non-institutional buyers: 176.84x

- (RII) Retail Individual buyers: 46.66x



At 4.10:00 PM.

- This IPO has been subscribed 135.34x by 4:10 PM. on Day 3

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 100.73x

- (NII) Non-institutional buyers: 262.08x

- (RII) Retail Individual buyers: 49.04x

At 10.40:00 AM.

- This IPO has been subscribed 3.08x by 10:40 AM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.27x

- (NII) Non-institutional buyers: 0.83x

- (RII) Retail Individual buyers: 14.90x



At 11.40:00 AM.

- This IPO has been subscribed 3.40x by 11:40 AM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.27x

- (NII) Non-institutional buyers: 1.02x

- (RII) Retail Individual buyers: 16.37x



At 12.40:00 PM.

- This IPO has been subscribed 3.65x by 12:40 PM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.27x

- (NII) Non-institutional buyers: 1.21x

- (RII) Retail Individual buyers: 17.46x

At 1.40:00 PM.

- This IPO has been subscribed 3.91x by 1:40 PM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.29x

- (NII) Non-institutional buyers: 1.43x

- (RII) Retail Individual buyers: 18.52x

At 2.40:00 PM.

- This IPO has been subscribed 4.32x by 2:40 PM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.29x

- (NII) Non-institutional buyers: 1.64x

- (RII) Retail Individual buyers: 20.43x



At 3.40:00 PM.

- This IPO has been subscribed 5.52x by 3:40 PM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 1.57x

- (NII) Non-institutional buyers: 1.84x

- (RII) Retail Individual buyers: 22.89x

At 5.10:00 PM.

- This IPO has been subscribed 6.87x by 5:10 PM. on Day 2

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 3.24x

- (NII) Non-institutional buyers: 2.30x

- (RII) Retail Individual buyers: 24.64x

At 10.40:00 AM.

- This IPO has been subscribed 0.55x by 10:40 AM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.02x

- (RII) Retail Individual buyers: 2.99x


At 11.40:00 AM.

- This IPO has been subscribed 0.94x by 11:40 AM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.12x

- (RII) Retail Individual buyers: 4.97x


At 12.40:00 PM.

- This IPO has been subscribed 1.18x by 12:40 PM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.14x

- (RII) Retail Individual buyers: 6.28x


At 1.40:00 PM.

- This IPO has been subscribed 1.44x by 1:40 PM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.21x

- (RII) Retail Individual buyers: 7.62x


At 2.40:00 PM.

- This IPO has been subscribed 1.78x by 2:40 PM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.32x

- (RII) Retail Individual buyers: 9.30x



At 3.40:00 PM.

- This IPO has been subscribed 1.94x by 3:40 PM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x

- (NII) Non-institutional buyers: 0.34x

- (RII) Retail Individual buyers: 10.17x


At 5.05:00 PM.

- This IPO has been subscribed 2.45x by 5:05 PM. on Day 1

- It is a public issue of 80,79,491 equity shares.

 Status of Subscription

- (QIB) Qualified institutional buyers: 0.25x

- (NII) Non-institutional buyers: 0.44x

- (RII) Retail Individual buyers: 12.07x

Why Should You Invest in Go Fashion IPO?

Here are some reasons why you should consider subscribing to the public offering of the Go Fashion IPO –

1. The apparel market of India is one of the largest ones, and it sits 4th with Germany and Japan. Even though India’s total consumption is 4 times that of Japan, the current position of this country indicates how value fashion dominate the market here. The nature of the market like this leaves a broader opportunity for brands like Go Fashion to make a difference.
2. Under its Go Colors brand, Go Fashion focuses on producing specialised products, which separates its business model from others. Hence, putting the company in a market where not a lot of players operates.
3. The track record of Go Fashion has been positive, which is further cemented by its increasing presence in various outlets across the country. Additionally, the company has plans to further increase its physical footprint in the coming days with exclusive retail outlets.

Financial highlights

Financial Year Total Assets in Millions Total Revenue in Millions Total Expenses in Millions Profit After Tax in Millions
March 2021 13,489.37 10,812.35 11,799.29 (998.97)
March 2020 13,806.64 13,517.36 14,183.28 (1,592.47)

How to apply for Go Fashion IPO?

You can apply for the Go Fashion IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book Go Fashion IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for Go Fashion IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

Go Fashion IPO - Noteworthy Highlights

Here are some noteworthy highlights of Go Fashion that you should learn about before investing in the IPO –

● Go Fashion has a country-wide presence and across various partner channels. Also, the company is focusing on opening more than 100 exclusive stores.

● The company has a strong financial base. Thus, the recovery signs are positive even after suffering a loss due to Covid-19 in the last fiscal year. Also, in two previous fiscal years, it has delivered profit as well.

● With its in-house design team and an efficient supply chain Go Fashion has managed to establish itself in the women apparels segment of this country.

Go Fashion IPO - SWOT Analysis

strengths

Strengths

  • Diversified business portfolio: Go Fashion is one of the largest women’s bottom wear brands in this country. It has a diverse portfolio with more than 40 styles and 100 colour options to choose from. This also provided the company with the first-mover advantage.
  • Strong financials: After a decade of incorporation, for Go Fashion, the previous financial year has been tough for the company as it suffered a loss. However, the finances are still strong, and it is largely due to its attractive pricing of products and an efficient operating model.
Weaknesses

Weaknesses

  • Lack of brand recognition: Go Fashion is not an easily recognisable brand even after its strong performance and wide customer base. It can be a hindrance to the company’s growth and taking that next step. Also, the lack of physical presence also adds to it.
Opportunities

Opportunities

  • India’s growing apparel market: India’s booming apparel market is projected to grow even bigger by 2025. It will approximately touch 8.95% between FY2020 to FY2025.
Threats

Threats

  • Increase in competitions: The number of competitions has increased for Go Fashion in recent times. This will increase further in the coming days.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Diversified business portfolio: Go Fashion is one of the largest women’s bottom wear brands in this country. It has a diverse portfolio with more than 40 styles and 100 colour options to choose from. This also provided the company with the first-mover advantage.
  • Strong financials: After a decade of incorporation, for Go Fashion, the previous financial year has been tough for the company as it suffered a loss. However, the finances are still strong, and it is largely due to its attractive pricing of products and an efficient operating model.

Weaknesses 

  • Lack of brand recognition: Go Fashion is not an easily recognisable brand even after its strong performance and wide customer base. It can be a hindrance to the company’s growth and taking that next step. Also, the lack of physical presence also adds to it.

Opportunities 

  • India’s growing apparel market: India’s booming apparel market is projected to grow even bigger by 2025. It will approximately touch 8.95% between FY2020 to FY2025.

Threats 

  • Increase in competitions: The number of competitions has increased for Go Fashion in recent times. This will increase further in the coming days.

Competitor Analysis: Market Peers

Here is an overview of Go Fashion’s listed competitor performance on 12 October 2021 –

Competitor Face Value Sector P/E Market Cap. Dividend Yield
Thomas Scott India Ltd 10 76.08 Rs. 7 crores NA
Trent Ltd 1 145.99 Rs. 40,850 crores 0.05
Aditya Birla Fashion and Retail Ltd 10 145.99 Rs. 26,626 crores NA
TCNS Clothing Co Ltd 2 7.74 Rs. 5,060 crores NA
Future Lifestyle Fashions Ltd 2 145.99 Rs. 1,093 crores NA
ARVIND FASHIONS LTD 4 76.08 Rs. 4,457 crores NA

Go Fashion IPO FAQs

How can I apply for Go Fashion IPO through Angel One App?

Apply for Go Fashion IPO in these steps:
Step 1: Navigate to the 'Investment Opportunities' tab on the Angel One portal.
Step 2: Click on the option that reads as ‘IPOs and FPOs’.
Step 3: Enter required details.
Step 4: Enter details of NPCI approved UPI Handle.
Step 5: Click the ‘Invest’ option to place an order.

I want to apply for IPO. However, I am unable to do so through my UPI ID?

You can apply for Go Fashion IPO through a UPI ID that is approved by NPCI. Hence, if you can't seem to apply for this public offer, it could mean that your UPI handle does not feature on the approved list of NPCI for providing UPI service.

I don’t have a UPI ID. Can I still subscribe to Go Fashion IPO?

Those who don't have a UPI ID can create an ID in any of the Handles featured on the NPCI list. Alternatively, investors can apply for Go Fashion IPO through the Application Supported By Blocked Amount ASBA processor either physically or via a bank.

What are the steps to create a UPI ID?

Create a UPI ID with BHIM app in these simple steps:
Step 1: Download the BHIM app.
Step 2: Verify your mobile number.
Step 3: Enter the passcode for accessing the app.
Step 4: Select your bank from the given options.
Step 5: If you have multiple accounts, you can pick the one you wish to register with BHIM.
Step 6: Set your UPI PIN.
After covering these steps, check your UPI ID details from your profile section.

How can I find my UPI ID?

You can find your UPI ID in your UPI Handle’s profile. Click here to find out how to initiate the process and find your UPI ID easily.

I am unable to find the UPI Handle I use in Angel One's drop-down menu. How will I apply for IPO?

Note that the UPI Handles not approved by NPCI are not present in Angel One's drop-down menu. Alternatively, you can apply for Go Fashion IPO by using any UPI Handles present on the NPCI list.

When will I receive the UPI mandate request for Go Fashion IPO?

In general, UPI mandate request is shared on the app within 15-20 minutes after bidding for Go Fashion IPO. Often investors experience a delay in receiving the request from their bank.

How to approve UPI mandate requests?

Individuals need to approve their UPI mandate request on the app itself. Click here to find out how to carry out the approval process.

Can I apply for Go Fashion IPO multiple times?

In general, 1 application per PAN is recommended. If you apply for Go Fashion IPO with one PAN through multiple platforms, the application might get rejected.

What charges shall I pay when applying for Go Fashion IPO?

When applying for Go Fashion IPO via Angel One, you are not required to pay any charges.

Can an NRI apply for Go Fashion IPO through Angel One app?

NRIs cannot subscribe to Go Fashion IPO through Angel One portal. Regardless, they can apply for this IPO via the ASBA procedure with a banking institution.

How can I benefit if I apply for Go Fashion IPO at the cut-off price?

Cut-off price is essentially the price at which shares of an initial public offer get issued. This price is fixed during share allotment. In most cases, investors who bid at this price do so to increase their chances of securing an allotment.

Can investors apply for Go Fashion IPO through an account that isn’t linked with Angel One?

Investors can apply for Go Fashion IPO shares through a bank account that is not linked with Angel One. Investors can use any of their bank accounts for subscribing to this IPO.

Can I apply for Go Fashion IPO using my current account?

Most banks process IPO applications made through a savings account. They are relatively less keen on processing IPO applications made via a current account. However, one should check with their bank first to confirm the same.

Can an investor subscribe to Go Fashion IPO via a HUF’s account?

Investors can apply for Go Fashion IPO with a HUF’s account via physical ASBA procedure. Notably, one cannot apply for IPO via Angel One using the Angel One portal.

Is it allowed to apply for Go Fashion IPO through a minor account?

One can apply for Go Fashion IPO using the ASBA procedure with his/her bank. However, Angel One does not permit minors to apply.

I subscribed to Go Fashion IPO. However, my account was not debit. Why is that so?

Banks block amount only after one investor has applied for an initial public offer. Usually, allotment money gets debited after share allotment. If shares are not allotted, the share amount is unblocked either on or before the expiry date of the UPI mandate.

Can I modify my bid in Go Fashion IPO?

You can modify IPO lot size and UPI ID in Go Fashion IPO bid, even after placing an order. If you decide to modify your bid after approving the UPI mandate request, both the original IPO amount and the modified IPO amount will be blocked. Subsequently, you will receive another UPI mandate request for the newly modified bid. If you did not approve the first UPI mandate request, then the allotment amount will not be blocked for this bid.

Can I withdraw/cancel/delete Go Fashion IPO application?

You can withdraw/delete/cancel Go Fashion IPO application in these steps:
Step 1: Go to ‘Investment Opportunities’ section on our Angel One app.
Step 2: Select ‘IPOs and FPOs’ option.
Step 3: Click ‘Order Book’ button.
Step 4: Select the order you want to cancel.
Step 5: Click on ‘Details’.  

How to check Go Fashion IPO application status?

Check Go Fashion IPO status in these steps:
Step 1: Select 'Investment Opportunities’.
Step 2: Click on the ‘IPOs & FPOs’ option.
Step 3: Select the 'Order Book's option.
Once these steps are covered, the application status of your IPO application will be shared.

What reasons can prompt rejection of Go Fashion IPO application?

Your Go Fashion IPO application can get rejected because of these reasons:
● Using the wrong UPI PIN or ID when approving the mandate request.
● Bank A/c, UPI ID or Demat A/c was not mapped to PAN.

How to check my refund status in case my Go Fashion IPO application gets rejected?

When an individual applies for an initial public offer, the concerned bank blocks/holds the allotment money. Hence, funds will be unblocked/released either on or before the expiry date of the UPI mandate. However, if the allotment money is not released after the mandate expiry date, it is advisable to contact the bank to acquire more details.

Where can I check IPO allotment status?

Check your IPO allotment status in these steps:
Step 1: Navigate to ‘Investment Opportunities’ option.
Step 2: Select ‘IPOs & FPOs’ button.
Step 3: Click on the ‘Order Book’.
Once these steps are covered, the status of the application will appear on the screen.

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