Go Fashion shares fashions its debut on D-Street in style
30th November 2021, Mumbai:
The listing premium was ahead of analysts' expectations (65-75 percent) as well as the grey market price (Rs 1,140-1,210 per share).
Go Colors brand operator Go Fashion saw a stellar debut on the bourses on November 30 as the stock listed at a whopping 90 percent premium over the issue price of Rs 690 per share. It opened at Rs 1,316 on the BSE and at Rs 1,310 on the National Stock Exchange.
The listing premium was ahead of analysts' expectations (65-75 percent) as well as the grey market price (Rs 1,140-1,210 per share).
The maiden public offer of the women's bottom-wear brand operator had seen tremendous response from investors as the offer was subscribed 135.46 times. It saw the biggest demand from non-institutional investors, who bid for shares 262.08 times the portion set aside for them. Qualified institutional investors had put in bids 100.73 times the reserved portion, and retail investors subscribed for 49.70 times the reserved portion.
Go Fashion has mopped up Rs 1,014 crore through its public issue that comprised a fresh issue of Rs 125 crore and an offer for sale of Rs 888.61 crore. The funds from the fresh issue will be utilised to roll out 120 exclusive brand outlets, and meet working capital requirements.
Moneycontrol.com (The news article has not been edited by DFU Publications staff)
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