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Go Fashion IPO is a book build issue of ₹1,013.61 crores. The issue is a combination of fresh issue of 0.18 crore shares aggregating to ₹125.00 crores and offer for sale of 1.29 crore shares aggregating to ₹888.61 crores.
Go Fashion IPO bidding started from Nov 17, 2021 and ended on Nov 22, 2021. The allotment for Go Fashion IPO was finalized on Nov 25, 2021. The shares got listed on BSE, NSE on Nov 30, 2021.
Go Fashion IPO price band is set at ₹690.00 per share . The lot size for an application is 21. The minimum amount of investment required by an retail is ₹13,755 (21 shares). The lot size investment for sNII is 14 lots (294 shares), amounting to ₹2,02,860, and for bNII, it is 70 lots (1,470 shares), amounting to ₹10,14,300.
Dam Capital Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Go Fashion IPO RHP for detailed Information.
| IPO Date | November 17, 2021 to November 22, 2021 |
| Listing Date | November 30, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹655 to ₹690 per share |
| Issue Price Final | ₹690 per share |
| Lot Size | 21 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,46,89,983 shares (aggregating up to ₹1,013.61 Cr) |
| Fresh Issue | 18,11,594 shares (aggregating up to ₹125.00 Cr) |
| Offer for Sale | 1,28,78,389 shares of ₹10 (aggregating up to ₹888.61 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,21,97,390 shares |
| Share Holding Post Issue | 5,40,08,984 shares |
GoColors IPO offers total 1,46,89,983 shares. Out of which 1,10,17,488 (75.00%) allocated to QIB, 44,06,996 (30.00%) allocated to QIB, 22,03,497 (15.00%) allocated to NII, 14,68,998 (10.00%) allocated to RII and 66,10,492 (45.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,10,17,488 (75.00%) | NA |
| − Anchor Investor Shares Offered | 66,10,492 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 44,06,996 (30.00%) | NA |
| NII (HNI) Shares Offered | 22,03,497 (15.00%) | NA |
| Retail Shares Offered | 14,68,998 (10.00%) | 69,952 |
| Total Shares Offered | 1,46,89,983 (100.00%) |
Go Fashion IPO opens on November 17, 2021, and closes on November 22, 2021.
| IPO Open Date | Wed, Nov 17, 2021 |
| IPO Close Date | Mon, Nov 22, 2021 |
| Tentative Allotment | Thu, Nov 25, 2021 |
| Initiation of Refunds | Fri, Nov 26, 2021 |
| Credit of Shares to Demat | Mon, Nov 29, 2021 |
| Tentative Listing Date | Tue, Nov 30, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Nov 22, 2021 |
Investors can bid for a minimum of 21 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 21 | ₹14,490 |
| Retail (Max) | 13 | 273 | ₹1,88,370 |
| S-HNI (Min) | 14 | 294 | ₹2,02,860 |
| S-HNI (Max) | 69 | 1,449 | ₹9,99,810 |
| B-HNI (Min) | 70 | 1,470 | ₹10,14,300 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2010, Go Fashion (India) Limited is one of the largest women's bottom-wear brands in India. The company is engaged in the development, design, sourcing, marketing, and retailing of a range of women's bottom-wear products under the brand, 'Go Colors'. The company offers one of the widest portfolios of bottom-wear products among women's apparel retailers in terms of colors and styles. As of May 31, 2021, Go Colors sold bottom-wear in over 50 styles in more than 120 colors.
As of May 31, 2021, the company has 450 exclusive brand outlets (EBOs) that are spread across 23 states and union territories in India. The company's distribution channels include large format stores (LFSs) including Reliance Retail Limited, Central, Unlimited, Globus Stores Private Limited, and Spencer's Retail among others. The company's LFSs have grown from 925 LFSs in 2019 to 1,332 LFSs in May 2021. The company also sells its products through its website, online marketplaces, and multi-brand outlets (MBOs).
Competitive strengths:
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Jun-21 | 30-Jun-20 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 5,306.47 | 5,346.99 | 5,483.67 | 5,191.86 | 4,041.31 |
| Total Revenue | 402.92 | 207.44 | 2,822.52 | 3,968.39 | 2,909.79 |
| Profit After Tax | (189.96) | (85.98) | (35.39) | 526.34 | 309.41 |
[Dilip Davda] The company has suffered due to the pandemic and posted negative earnings for the last 15 months. Based on such dismal performance the issue is having negative P/E. However, it holds a pure long term story considering an expansion plan afoot to increase outlets from 450+ to 2000+ in the coming five to six years. The company hopes to be on track once full normalcy returns and regain its growth pattern on pre-pandemic lines. Its dependence on third party contracts remains a major concern. Hence, risk seekers/cash surplus investors may park funds for long term rewards. Read detail review...
| Listing Date | November 30, 2021 |
| BSE Script Code | 543401 |
| NSE Symbol | GOCOLORS |
| ISIN | INE0BJS01011 |
| Final Issue Price | ₹690 per share |
| BSE Listing Group | B |
Go Fashion (India) Ltd.
Sathak Center, 5th Floor,
New No. 4, Old No. 144/2,
Nungambakkam High Road, Chennai, Tamil Nadu 600 03
Chennai, Tamil Nadu
Phone: +91 44 4211 1777
Email: companysecretary@gocolors.com
Website: https://www.gocolors.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: gofashion.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Go Fashion IPO is a main-board IPO of 1,46,89,983 equity shares of the face value of ₹10 aggregating up to ₹1,013.61 Crores. The issue is priced at ₹690 per share. The minimum order quantity is 21.
The IPO opens on November 17, 2021, and closes on November 22, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Go Fashion IPO using UPI as a payment gateway. Zerodha customers can apply in Go Fashion IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Go Fashion IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Go Fashion IPO opens on November 17, 2021 and closes on November 22, 2021.
Go Fashion IPO lot size is 21, and the minimum amount required for application is ₹14,490.
You can apply in Go Fashion IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Go Fashion IPO will be done on Thursday, November 25, 2021, and the allotted shares will be credited to your demat account by Monday, November 29, 2021. Check the Go Fashion IPO allotment status.
The Go Fashion IPO listing date is on Tuesday, November 30, 2021.
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