The common problem from Go Fashion, which sells underwear under women under the color of the brand, has received a good response from investors by subscribing 3.98 times on November 18, the second day of the offer.
Investors have submitted an offer for 3.21 shares of Crore equity to the size of the offer of 80.79 shares of Equity Lakh, according to the subscription data.
Retail investors have been active since the first day of the offer, buying shares of 18.80 times the portions were ordered, while the section set aside for non-institutional investors subscribing to 1.48 times so far and qualified institutional buyers have seen a subscription of 29 percent.
Go Fashion, which has a market share of around 8 percent in the branded women’s wear-aus market in FY20, opened public problems Rs 1,013.61-Crore to subscribe on November 17. The problem is closed on November 22.
The price band for offers has been repaired at Rs 655-690 per share.
“On the price ribbon above Rs 690, Go Fashion is available at the Market Cap / Sales 14.9x (FY21) which appears at full price,” said Geojit financial services.
However, given its investment in digital channels, Omnichannel involvement, focus on the growth strategy of e-retail, distributive to utilize customers from Tier 1 to Level 3 cities and expansion plans for existing and newer geographies, rating ‘subscribes’ for long-term problems .
Incorporated in 2010, GO Fashion is the first company to launch a special brand dedicated to the Wear-Wear Wear category. It has a PAN Indian network of 459 exclusive brand outlets (EBO) in this country, with a large number of shops in South and West India.
The company proposes to utilize the net results of new problems (Rs 125 Crore) towards funding for roll-out of 120 new EBO, and working capital requirements, in addition to the purpose of the public company.
