Go Fashion (Go Colors) Limited IPO Details, GMP and Subscription
Details of the Go Fashion India Limited IPO - GoColors IPO:
- Issue Amount: ₹1,014 Cr
- Face Value : ₹10 per share
- Price Band : ₹655 to ₹690
- Lot Size : 21 shares
- Issue break-up% : QIB: 75% NIB: 15% Retail: 10%
Important dates for Go Fashion (India) Limited IPO - GoColors IPO:
- IPO Open: Wednesday, November 17, 2021
- IPO Close: Monday, November 22, 2021
- Finalization of basis of allotment: 25th November 2021
- Refunds/Unblocking ASBA fund: 26th November 2021
- Credit of equity shares to DP account: 29th November 2021
- Trading commences: 30th November 2021
Grey Market Premium of Go Fashion (India) Limited IPO - GoColors IPO:
In the following data we can see how the Grey Market Premium of Go Fashion (India) Limited IPO - GoColors IPO varied in last few days- 23rd Nov - Rs. 350 (50% to Issue Price of Rs. 690)
- 22nd Nov - Rs. 460 (66% to Issue Price of Rs. 690)
- 21st Nov - Rs. 500 (73% to Issue Price of Rs. 690)
- 20th Nov - Rs. 500 (73% to Issue Price of Rs. 690)
- 19th Nov - Rs. 500 (73% to Issue Price of Rs. 690)
- 18th Nov - Rs. 570 (83% to Issue Price of Rs. 690)
- 17th Nov - Rs. 555 (80% to Issue Price of Rs. 690)
- 16th Nov - Rs. 350
- 15th Nov - Rs. 350
- 11th Nov - Rs. 350
Go Fashion (India) Limited IPO - GoColors IPO Subscription on 18th November 2021:
Go Fashion (India) Limited IPO - GoColors IPO is subscribed 135.46 times on 22nd November 2021 19:00 pm- Qualified Institutional Buyers (QIB) - 100.73 times Subscribed
- Retail Individual Investors (RII) - 49.70 times Subscribed
- Non Institutional investors (NII) - 262.08 times Subscribed
Go Fashion (India) Limited Company background:
Go Fashion (India) Ltd (GFIL) is a women’s bottom-wear brand in India, with a market share
of ~8% in the branded women’s bottom-wear market in FY20. GFIL is engaged in the
development, design, sourcing, marketing and retailing of women’s bottom-wear products
under the brand, ‘Go Colors’. Incorporated in 2010, GFIL is the first company to launch a
brand exclusively dedicated to the women’s bottom-wear category. They have a pan India
network of 459 Exclusive Brand Outlets (EBO) in the country, with significant number of
stores in Southern and Western India
- The women’s bottom-wear market in India accounted for 8.3% of the women’s apparel market and stood at ₹13,547cr in FY20 and is expected to grow at a CAGR of 12.3% to reach ₹24,315cr by FY25.
- GFIL sells the products through exclusive brand outlets (EBO) including franchise stores, large format stores (LFS), multi-brand outlets (MBO), and online channels such as online retailers and their websites.
- Sales of products through EBOs LFSs, franchisees, MBOs and online retailers, represented 69%, 22%, 1.3%, 2.8% and 4.7% respectively, of the total revenue from operations in FY21.
- For FY21, the revenue of GFIL stood at ₹250.7cr against ₹392cr a year ago. Net loss for FY21 stood at ₹3.5cr versus a profit of ₹52.6cr in FY20, primarily on account of the impact of COVID-19 on the operations and on account of the adoption of Ind AS 116.
- The company was able to maintain attractive gross margins of 59% for FY19-21 period. Avg. EBITDA margin is at ~26% due to tight operational control.
Strengths Of the Go Fashion (India) Limited IPO - GoColors IPO:
Risks Associated with Go Fashion (India) Limited IPO - GoColors IPO:
Financial Details of Go Fashion (India) Limited IPO - GoColors IPO:
Purpose of Tarsons Products Limited IPO:
- The Offer comprises of the fresh issue by the company and an offer for sale by the selling shareholders.
- They propose to utilize the net proceeds towards funding for the roll-out of 120 new
EBOs (₹33.7cr), funding working capital requirements (₹61.4cr) and general corporate purposes.
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