Go Fashion Shares To Debut On Bourses On November 30

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Go Fashion’s shares will list on the bourses on November 30

Women’s wear brand Go Fashion’s shares will debut on the stock markets on Tuesday, November 30. The shares are likely to list at 65 per cent to 70 per cent premium, according to grey market trends.

They will be listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Go Fashion had lifted Rs 1,014 crore from the public issue that was subscribed 135.46 times between November 17 to November 22.

Non-institutional investors had put in bids 262.08 times the portion set aside for them and qualified institutional investors’ reserved portion was subscribed 100.73 times. Retail investors bought shares 49.70 times the portion reserved for them.

The IPO consisted of a fresh issue of Rs 125 crore and an offer-for sale of Rs 888.61 crore by promoters and investors.

The company will use the net proceeds from fresh issue for rolling out 120 exclusive brand outlets, and meeting working capital requirements.

In 2020-21, Go Fashion had recorded a loss of Rs 3.54 crore as against a profit of Rs 52.63 crore in previous fiscal.

It had reported a loss of Rs 18.99 crore in the quarter ended June 2021 as against a loss of Rs 8.59 crore during the corresponding period of last year.

Author: desi123

Desi123.com is an online news portal that aims to provide the latest trendy news for Asians living in Asia and around the World.

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