Go Fashion IPO Latest News: The initial public offering (IPO) of Go Fashion (India) Ltd., a women’s clothing company under the brand name Go Colors, got full subscription within a few hours. According to the news of PTI, till the close of business on Wednesday, it had received 2.46 times subscription. According to NSE data, bids were received for 1,99,02,708 shares against an offer of 80,79,491 shares under this IPO of Rs 1,013.6 crore.
Huge demand in the category of retail individual investors
According to the news, the category of Retail Individual Investors (RII) saw a huge demand and it got subscribed 12.14 times. While the category of non-institutional investors got 44 percent subscription and the category of eligible institutional buyers (QIBs) got 25 percent subscription. The IPO comprises a fresh issue of up to Rs 125 crore and an offer for sale of 12,878,389 equity shares. The price range for bidding in the offer has been kept at Rs 655-690 per share. Go Fashion (India) Limited on Tuesday raised around Rs 456 crore from anchor investors.
Listing may happen on November 30
75 percent of the GoFashion IPO is reserved for Qualified Institutional Buyers (QIBs), 15 percent for non-institutional investors and 10 percent for retail investors. It is likely that the allotment of shares will be fixed on November 25, while the listing may happen on November 30. Equity shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Watch Zee Business Hindi Live TV here
One lot of 21 shares will be
The price band for Go Fashion’s IPO is fixed at Rs 655-690. At the same time, there will be a lot of 21 shares in the IPO. Investors are required to buy at least one lot. According to the upper price band, it will be necessary to invest at least Rs 14,490. After this, you can invest in multiples of 21 stocks. Maximum 13 lots can be bought. That is, a maximum investment of Rs 1,88,370 can be made.