Go Fashion IPO price band fixed at Rs 655

Go Fashion IPO price band fixed at Rs 655 - Rs 690/share, to raise Rs 1,013.6 crore

© Shweta Mungre
Go Trend IPO worth band mounted at Rs 655 – Rs 690/share, to boost Rs 1,013.6 crore

Go Trend, a ladies’s bottom-wear model, has mounted a worth band at Rs 655-690 per share for its preliminary public providing on November 12. The provide will open on November 17 and can proceed until November 22, as there can be a vacation on November 19.

The corporate goals to garner Rs 1,013.6 crore by its public problem that consists of a contemporary problem of Rs 125 crore and a suggestion on the market of Rs 888.6 crore by promoting shareholders together with promoters – PKS Household Belief, & VKS Household Belief.

Additionally buyers Sequoia Capital India Investments IV, India Benefit Fund S4 I, and Dynamic India Fund S4 US I are a part of promoting shareholders.

The bid lot dimension has been mounted at 21 fairness shares and in multiples of 21 shares thereafter. Retail buyers can make investments a minimal of Rs 14,490 per lot and the utmost funding by them can be Rs 1,88,370 for 13 tons. They’re allowed to take a position as much as Rs 2 lakh within the IPO.

The 75 % of the provide dimension has been reserved for certified institutional patrons, 15 % for non-institutional buyers, and the remaining 10 % is on the market for allocation to retail buyers.

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The web proceeds from contemporary problem can be utilised for funding roll out of 120 new EBOs (unique model outlet); and funding working capital necessities, in addition to basic company functions.

Go Trend is engaged within the growth, design, sourcing, advertising and retailing a spread of girls’s bottom-wear merchandise below the model, ‘Go Colours’, with a market share of roughly 8 % within the branded ladies’s bottom-wear market in FY20.

The ladies’s attire market is estimated to be roughly 36 % of the whole attire market whereas the ladies’s bottom-wear market contributed 8.3 % of girls’s attire market in FY20, as per Technopak.

JM Monetary, DAM Capital Advisors, and ICICI Securities are e-book operating lead managers to the problem.

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