Go Fashion IPO Listing: The IPO of Go Fashion, a company making bottom-wear for women, has been listed on the stock market today, 30 November. In the stock market today it debuted in the stock market with a strong premium of 90% at ₹1,310 per share on NSE, while its IPO issue price was ₹690 per share. Shares of Go Fashion were trading at ₹ 1,316 on BSE. The company accounts for about 8% of the organized women’s bottom-wear market. Despite volatility in profits for the last three financial years, the company has operating cash flows and financial health.
GoFashion’s three-day initial public offering (IPO) had garnered 135.46 times subscription on the last day of subscription that ended on November 22. The IPO of Rs 1,013.6 crore received bids for 1,09,44,34,026 shares. Go Fashion develops, designs, sourcing, marketing and retailing a range of women’s bottom-wear products under the brand ‘Go Colours’. Its network of 459 EBOs (Exclusive Brand Outlets) is spread across 23 states and union territories of India as on 30th September, 2021.
Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “Go Colors has a strong brand value with ups and downs in revenue, while the company went into loss in FY2011. However, as the number of working women continues to grow, along with fashion trends, it is expected that the company may have a strong growth momentum. The company has a strong management team with mixed bag of financials and is expected to perform well. ,
The IPO started with an increase of 89% in its issue price. Aggressive investors seeking allocation can place a stop loss of ₹1000 and hold the stock with a long term outlook, while safe investors can book profits and wait for fresh buying opportunities at lower levels. GoFashion raised a little over ₹456 crore from anchor investors ahead of the IPO that opened for public subscription on November 17.