Go Fashion IPO: Go Fashion IPO will open on November 17 and close on November 22. Here are on the whole the subtleties that you should know.
 |
| Go Fashion IPO: Price Band Fixed, Dates, And Other Things You Need to Know |
Go Fashion, which possesses women's bottom wear brand Go Colors, is set to open its underlying public proposition or IPO on November 17 in the midst of a proceeded with interest among organizations to open up for a membership to people in general. On Friday, November 12, Go Fashion fixed the value band of its IPO. This has been fixed at Rs 655 to Rs 690 for every offer. The underlying public proposal of the organization will close on November 22 going marked down for six days rather than three as November 19 is an occasion. The offering for anchor financial backers is set to open a day prior on November 16, the organization said in a virtual preparation.
Go Fashion intends to raise Rs 1,013.6 through its public issue at the upper finish of the value band, the firm has said. The underlying proposition contains a new issue of value shares adding up to Rs 125 crore. Then again, a proposal available to be purchased of Rs 888.6 crore will likewise go up, by which investors and advertisers including PKS Family Trust, and VKS Family Trust will relinquish their stakes. They will offload 7.45 lakh value shares each.
Different elements selling their portions incorporate financial backers Sequoia Capital India Investments IV (74.98 lakh shares), India Advantage Fund S4 I (33.11 lakh offers), and Dynamic India Fund S4 US I (5.76 lakh shares).
In the deal, up to 75 percent of the offers have been saved for qualified institutional purchasers or QIBs while 15% has been saved for non-institutional purchasers. The leftover 10% stakes have been saved for non-institutional purchasers. As of now, the PKS Family and VKS Family Trust hold a 28.74 percent stake in the organization. Then again, Sequoia Capital holds a 28.73 percent stake, India Advantage Fund has a 12.69 percent stake and Dynamic India Fund possesses a 1.1 percent stake at Go Fashion.
The parcel size of the lady public bid has been fixed at 21 value shares and in products of 21 offers thereof. This implies that retail financial backers can contribute at least Rs 14,490 for every part of the IPO. The greatest cost of one part can go up to Rs 1,88,370 for 13 parcels. Retail financial backers can put up to Rs 2 lakh in the underlying public proposition.
The returns of the new issue will be utilized for subsidizing the rollout of 120 new elite brand outlets. It will likewise be utilized for working capital necessities and for general corporate purposes.
Go Fashion is occupied with the turn of events, planning, sourcing, advertising, and retailing of the scope of women's base wear items under the brand, Go Colors. Its assortment goes from churidars, stockings, dhotis, collection of mistresses jeans, and Patiala, to palazzos, culottes, jeans, pants, and leggings. It is among the couple of attire organizations in India to have recognized the market as an open door in women's base wear and have gone about as a classification maker for base wear.
JM Financial, DAM Capital Advisors (Formerly IDFC Securities), and ICICI Securities are the lead chiefs to the issue. The value offers will be recorded on BSE and NSE.
