Go Fashion is one of the leading names of women’s fashion in India. Incorporated in 2010, the company specialises in designing, manufacturing, marketing and retailing women’s bottom wear. They have a wide product portfolio that includes more than 50 styles and 120 colours. Under its brand Go Colors, the company sells its current offerings. As of May 2021, the company has more than 400 exclusive retail outlets, spreading across 23 Indian states and union territories. Besides its own channel, the company also supplies and sells products through large apparel retail outlets like Central, Reliance Fashion, Spencer’s, Globus Stores, etc. Presence in large format stores, like the ones mentioned above for Go Fashion, has grown from 925 stores in 2019 to 1332 in 2021. Apart from its physical presence, online retail also contributes significantly to its revenue.
Go Fashion IPO Objectives
– Meeting the roll-out expenses of its new 120 exclusive brand outlets
– Supporting working capital needs
– Meeting general corporate purposes
Go Fashion IPO – Details
As per the Draft Red Herring Prospectus filed by the company with India’s Securities and Exchange Board, Go Fashion is looking to raise about Rs. 1013 crores. This will include both fresh issue equity shares and an offer for sale. Go Fashion has plans to raise about Rs. 125 crores through the fresh issue share sales. The offer for sale will include 12,878,389 equity shares at face value of Rs. 10 per share. Additionally, there is no news about any pre-IPO placement of shares. Furthermore, the company promoters here are –
1. Prakash Kumar Saraogi
2. Rahul Saraogi
3. Gautam Saraogi
4. VKS family trust
5. PKS family trust
Moving ahead, Go Fashion has appointed the following as its book running lead managers –
1. ICICI Securities Limited
2. JM Financial Limited
3. DAM Capital Advisors Limited is previously known as IDFC Securities Limited
Moreover, KFin Technologies Private Limited is the registrar of this initial public offering.
Opening Date – Nov 17, 2021
Closing Date – Nov 22, 2021
Price Band – ₹655 to ₹690 per equity share
Issue Size – ₹ 1,013.61 Cr
Face Value – ₹ 10per equity share
Market Lot – 21 shares Listing at NSE, BSE
Go Fashion IPO Important Dates
| IPO Open Date | Nov 17, 2021 |
|---|---|
| IPO Close Date | Nov 22, 2021 |
| Basis Of Allotment Date | Nov 25, 2021 |
| Initiation Of Refunds | Nov 26, 2021 |
| Credit Of Shares To Demat ACcount | Nov 29, 2021 |
| IPO Listing Date | Nov 30, 2021 |
Go Fashion IPO Latest News and Subscription Status Today [Live]
- Day 2: 18th Nov. 2021
- Day 1: 17th Nov. 2021
At 10.40:00 AM.
– This IPO has been subscribed 3.08x by 10:40 AM. on Day 2
– It is a public issue of 80,79,491 equity shares.
Status of Subscription
– (QIB) Qualified institutional buyers: 0.27x
– (NII) Non-institutional buyers: 0.83x
– (RII) Retail Individual buyers: 14.90x
At 11.40:00 AM.
– This IPO has been subscribed 3.40x by 11:40 AM. on Day 2
– It is a public issue of 80,79,491 equity shares.
Status of Subscription
– (QIB) Qualified institutional buyers: 0.27x
– (NII) Non-institutional buyers: 1.02x
– (RII) Retail Individual buyers: 16.37x
At 12.40:00 PM.
– This IPO has been subscribed 3.65x by 12:40 PM. on Day 2
– It is a public issue of 80,79,491 equity shares.
Status of Subscription
– (QIB) Qualified institutional buyers: 0.27x
– (NII) Non-institutional buyers: 1.21x
– (RII) Retail Individual buyers: 17.46x
Why Should You Invest in Go Fashion IPO?
Here are some reasons why you should consider subscribing to the public offering of the Go Fashion IPO –
1. The apparel market of India is one of the largest ones, and it sits 4th with Germany and Japan. Even though India’s total consumption is 4 times that of Japan, the current position of this country indicates how value fashion dominate the market here. The nature of the market like this leaves a broader opportunity for brands like Go Fashion to make a difference.
2. Under its Go Colors brand, Go Fashion focuses on producing specialised products, which separates its business model from others. Hence, putting the company in a market where not a lot of players operates.
3. The track record of Go Fashion has been positive, which is further cemented by its increasing presence in various outlets across the country. Additionally, the company has plans to further increase its physical footprint in the coming days with exclusive retail outlets.
Financial highlights
| Financial Year | Total Assets In Millions | Total Revenue In Millions | Total Expenses In Millions | Profit After Tax In Millions |
| March 2021 | 13,489.37 | 10,812.35 | 11,799.29 | (998.97) |
| March 2020 | 13,806.64 | 13,517.36 | 14,183.28 | (1,592.47) |