{"id":998,"date":"2021-11-18T13:10:20","date_gmt":"2021-11-18T13:10:20","guid":{"rendered":"https:\/\/www.invest19.com\/blog\/?p=998"},"modified":"2021-11-18T13:10:21","modified_gmt":"2021-11-18T13:10:21","slug":"go-fashion-india-opens-its-ipo-to-raise-rs-1013-61-cr","status":"publish","type":"post","link":"https:\/\/www.invest19.com\/blog\/go-fashion-india-opens-its-ipo-to-raise-rs-1013-61-cr\/","title":{"rendered":"GO Fashion India opens its IPO to raise Rs 1013.61 cr."},"content":{"rendered":"
<\/div>\n

India’s largest women’s\nbottom wear brand, Go fashion India is all set to go public. It has opened its\nIPO window for subscription from 17 November 2021 and will close on 22 Nov 2021.\n<\/p>\n\n\n\n

The firm is one of\nits kind company in women’s apparel only dealing in bottom wear with a market\nshare of 8% in the branded women\u2019s bottom-wear\nmarket in Fiscal 2020. The firm is engaged in the development, design,\nsourcing, marketing, and retailing of a range of women\u2019s bottom-wear products\nunder the brand, \u2018Go Colors<\/em>\u2019. The company has leveraged the\nfirst-mover’s advantage to create a direct-to-consumer brand with a diversified\nand differentiated product portfolio of premium quality products at competitive\nprices.<\/p>\n\n\n\n

As of May 31, 2021, the firm sold bottom-wear in over 50\nstyles in more than 120 colors. The efforts of the firm’s design and\nmerchandising team are supplemented by the firm’s extensive sourcing network\nand the manufacturing network undertaken through 73 suppliers and 42 job\nworkers spread across 11 states and union territories, as of May 31, 2021.<\/p>\n\n\n\n

On the financial front,\nafter making a huge profit in Fy2019 and FY2020, Rs 309.41 million and Rs526.34\nmillion, respectively, made a loss of Rs 35.39 million in FY2021. Fall in\nprofit can be attributed to lower operating income which shrunk to Rs 2822.52\nmillion in Fy2020 from Rs 3968.39 million earned a year ago.<\/p>\n\n\n\n

The brand has opened its IPO on 17th number for subscription, to raise a total of Rs 1013.61cr, out of which Rs125 crores will be raised through fresh issue of share and remaining Rs888.61 cr, will be raised through offer for sales of shares. The IPO has a price band of Rs 655-Rs 690, with a lot size of a minimum of 21 shares. Retail investors can make a minimum investment of Rs 14,490. The maximum bid for investors can be made for 13 lots of 21 shares each cumulating to an amount of Rs 1,88,370. Allotment of the IPO will be done on 25 Nov 2021 and will be credited to Demat accounts on 29 November 2021. The shares will be listed on both NSE and BSE, on 30th Nov 2021. <\/p>\n\n\n\n

Go fashion(India) will not receive any money from the offer\nfor sales, however, the net proceeds from the fresh issue of Go fashion IPO\nwill be utilized for funding roll out of 120 new EBOs (Exclusive\nBrand Outlets), funding working capital requirements, and general corporate\npurposes<\/p>\n\n\n\n

The firm has already raised an amount of Rs 456.12 crores\nthrough anchor investors. The offer size has been reduced to 80.79lakh shares\nfrom earlier numbers of 1.46crore shares. On the end of day 1 of share sales, the\nretail portion has put 12.14 times of the shares reserved for the category,\nwhile noninstitutional investors subscription was seen at 44% and qualified\ninstitutional investors bought 11.02 lakh shares. <\/p>\n\n\n\n

Go fashion has carved its way into the market in a unique\nway, by focusing on a particular requirement of women’s apparel. Go colors(the brand of Go Fashion(India) designs their\nproducts to cater to women across all age groups and girls and fits that are\nsuitable to various body types and physiques. These factors, coupled with the\nlack of seasonality, ensure that their portfolio is resistant to redundancy\nfrom fashion trends.<\/p>\n\n\n\n

Multi-channel retail presence, the well-diversified product\nportfolio in In-house\nexpertise in developing and designing products makes the Go fashion IPO a\nfavorable one. Go fashion IPO grey market premium is at Rs 600, thus hinting\ntowards premium listing in the market.\n\n However, every company has some pros and cons,\nand IPO’s are traded in the market, thus Investors must do their thorough\nresearch before investing in the market. As the investment are subject to\nmarket risk.\n\n\n\n<\/p>\n

<\/span> 2,609<\/span><\/div>
\n
\n \n <\/i>\n <\/a>\n 4 <\/span>\n<\/div><\/div>\n\n","protected":false},"excerpt":{"rendered":"

India’s largest women’s bottom wear brand, Go fashion India is all set to go public. It has opened its IPO window for subscription from 17 […] Read More<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":999,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,2,7],"tags":[],"class_list":["post-998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-stock-market","category-investment"],"_links":{"self":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/comments?post=998"}],"version-history":[{"count":2,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/998\/revisions"}],"predecessor-version":[{"id":1001,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/998\/revisions\/1001"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/media\/999"}],"wp:attachment":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/media?parent=998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/categories?post=998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/tags?post=998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}