Go Fashion (India) Ltd

The company was incorporated on 09 September 2010 as Go Fashion (India) private limited.The name of the Company was subsequently changed to Go Fashion (India) Limited upon conversion to a public limit ... ed company on 12 July 2021. The Company is mainly engaged in the business of manufacture and sale of apparels for women and kids. Go Fashion is a well-established women's bottomwear brand in India with multi-channel distribution and a market share of 8 percent in the branded women's bottomwear market as of FY20. On 31 March 2017,the company has allotted 5000010 bonus equity shares of Rs 10 each to the shareholders in the ratio of 1:1. During the FY2019,the company has issued and allotted 20000080 bonus equity shares of Rs 10 each to the shareholders in the ratio of 1:2. As a result of Issue of 2,00,00,080 Equity Shares of Rs. 10/- Bonus Shares in the ratio of 1:2 to existing equity shareholders of the company, the conversion ratio of the Series A and Series B Compulsorily Cumulative Preference Shareholders of the company would change accordingly. Series A conversion ratio which was hitherto agreed at 1:2 would be changed to 1:6 and Series B Compulsorily Convertible Cumulative Preference Shares conversion ratio which was hitherto agreed at 1:1 would be changed to 1:3. The Ministry of Home Affairs, Government of India on 24 March 2020 notified the first ever nationwide lockdown in India to contain the outbreak of Covid-19 pandemic. All retail stores in company's network remained shut due to lockdown till 04 May 2020 and the sales were totally affected due to the same. Further the lockdown was released partially over the period and it had its repercussion on the retail trade. As of September 2021, Go Fashion sells its products through an extensive network of 459 exclsive brand outlets(EBOs) that are spread across 23 states and union territories in India.Its distribution channels also have large format stores (LFS) including Reliance Retail, Central, Unlimited, Globus Stores and Spencer's Retail among others. The company also sells products through its own website and online marketplaces and through multi-brand outlets (MBOs). During the month of November 2021,the company came out with an Rs 1013.61 crore public issue which comprised a fresh issue of Rs 125 crore and an offer for sale of Rs 888.61 crore by PKS family trust,Sequoia Capital India Investments IV,India Advantage Fund S4 I and Dynamic India Fund S4 US I.The net proceeds from the fresh issue will be utilised to roll out 120 new exclusive brand outlets(EBOs) and for working capital requirements.The IPO shares were allotted at the price of Rs 690 per share including a premium of Rs 680 per share.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India Ltd(NSE) on 30 November 2021. Read More