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This article is more than 2 month old.

Go Fashion IPO subscribed 135 times on final day

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Go Fashion India's initial public offering (IPO) was subscribed nearly 15 times so far on Monday, the third and final day of the bidding process. Shares in Go Fashion - the operator of Go Colors outlets - are available for bidding in the price band of Rs 655-690 in multiples of 21. The IPO will close for subscription later in the day.

Go Fashion IPO subscribed 135 times on final day
Go Fashion India's initial public offering (IPO) was subscribed 135.5 times on Monday, the third and final day of the bidding process. The Chennai-based women's bottom-wear company's IPO had opened for bidding on Wednesday, November 17.
By the end of the day, the Go Fashion IPO received bids for 109.4 crore shares as against the 80.8 lakh shares on offer.
The portion reserved for non-institutional investors was subscribed 262.1 times, and that for qualified institutional buyers (QIBs) 100.7 times. The retail investor category saw a subscription of 49.7 times.
Out of the total issue, 75 percent has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors, and the remaining 10 per cent for retail investors.
The IPO of Go Fashion - the operator of Go Colors outlets - comprised fresh issuance of shares worth Rs 125 crore, and an offer for sale (OFS) of equity worth Rs 888 crore by promoters and existing shareholders.
Go Fashion shares were available for bidding in the price band of Rs 655-690 in multiples of 21. One lot was valued at Rs 14,490 at the upper end of the price band. Go Colors shares will be listed on stock exchanges BSE and NSE.
The company aims to use the proceeds from the share sale to fund the rollout of 120 additional exclusive brand outlets, to meet working capital requirements and for general corporate purposes.
Go Fashion India has a market share of about eight percent. As of September 30, 2021, Go Fashion had 459 exclusive brand outlets located across 118 cities.
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