Go Fashion IPO Review 2021: The IPO train seems to be never ending this year. Go Fashion will be the 9th company to go public just this month. The IPO will be open from November 17th and close on November 22nd. The company aims to raise Rs. 1013.47 Cr through the public offering.
In this article, we look into important information on the Go Fashion IPO Review 2021. This will help one to analyse the possible prospects of the company. Keep reading to find out!
Table of Contents
About the Company
Founded in 2010, Go Fashion (India) Ltd. is a women’s bottom-wear brand. Despite being founded just a decade ago the company today is one of the largest women’s bottom wear companies in India. The company has come a long way in a short period to acquire a market share of 8% in branded women’s bottom wear in India as of FY20.
They operate under the brand ‘Go Colours’. As of May, 2021 the company offered 50 different styles in 120 colours. The company has three modes of distribution for their products. The first being their own stores. The company has 450 outlets across 23 states in India. The second being through its website and the online marketplace.
In addition to this, the company also distributes its products at other retail giants stores. The company has 1,332 such outlets selling their products across the country. These retail giants include the likes of:
- Reliance Retail Limited
- Central
- Unlimited
- Spencer’s Retail
- Key IPO Information
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Key IPO Information
The promoters of the company are Prakash Kumar Saraogi, Gautam Saraogi, Rahul Saraogi, Pks Family Trust And Vks Family Trust. The company has appointed JM Financial, DAM Capital Advisors, and ICICI Securities as the book running lead managers to the issue. KFintech Pvt. Ltd. has been appointed as the registrar to the issue.
| Particular | Details |
|---|---|
| IPO Size | ₹1,013.61 Cr |
| Fresh Issue | ₹125.00 Cr |
| Offer For Sale(OFS) | ₹ 888.61 Cr |
| Opening Date | Nov 17, 2021 |
| Closing Date | Nov 22, 2021 |
| Face Value | ₹10 per equity share |
| Price Band | ₹655 to ₹690 |
| Lot Size | 21 Shares |
| Minimum Lot Size | 1 |
| Maximum Lot Size | 13 |
| Listing Date | Nov 30, 2021 |
Purpose of the IPO
The proceeds from the IPO will be used for:
- Funding roll out of 120 new EBOs (Exclusive Brand Outlets);
- Funding working capital requirements; and
- Other General corporate purposes
In Closing
In this post, we covered the Go Fashion IPO Review 2021. The Initial Public Offering opens on November 17th and closes on November 22th. For retail investors, it can be a good opportunity to look into the company’s future prospects and apply for the IPO if they believe in the products and growth prospects of the company.
Do let us know what you think of the Go Fashion IPO review 2021. Are you planning to apply for this IPO or not? Comment below. Cheers!
Aron, Bachelors in Commerce from Mangalore University, entered the world of Equity research to explore his interests in financial markets. Outside of work, you can catch him binging on a show, supporting RCB, and dreaming of visiting Kasol soon. He also believes that eating kid’s ice-cream is the best way to teach them taxes.
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