The initial public offering (IPO) of Go Fashion Limited, the owner of women’s apparel brand Go Colors, will open for public subscription on November 17 and end on November 22.
The company has fixed a price band: from 655 690 per equity share of face value 10 each. The bids for anchor investors will open on November 16.
Investors can place bids for a minimum of 21 equity shares and thereafter in multiples of 21 shares.
The company said the net proceeds from the IPO will be used to open 120 new exclusive brand outlets to meet working capital requirements and general corporate objectives.
The listing on the exchanges is likely to happen on or around November 30, with the final basis for allotment on November 25.
NS The initial share-sale of 800 crores includes fresh issue of equity shares, taking the total to 125 crore and offer-for-sale (OFS) of 12,878,389 equity shares by the promoter and existing shareholders.
1,013 crore is expected from the IPO at the upper end of the price band.
GoFashion said 75 per cent of the issue size has been earmarked for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, while the remaining 10 per cent for retail investors.
Go Fashion is engaged in the development, design, sourcing, marketing and retailing of a range of Women’s Bottom-wear products under the brand ‘GO Colours’. It is one of the few apparel companies in India that has identified the market opportunity in women’s bottom-wear and acted as a ‘category maker’ for bottom-wear.
Its bottom-wear products including churidars, leggings, dhotis, harem pants, patialas, palazzos, culottes, pants, trousers and jeggings are sold in a range of categories such as ethnic wear, western wear, fusion wear, athleisure, denims and plus sizes. ,
JM Financial, DAM Capital Advisors (formerly IDFC Securities) and ICICI Securities are the principal managers of the issue. The equity shares will be listed on BSE and NSE.
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