Go Fashion India IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Go Fashion India IPO release date, IPO offer price, subscription, Go Fashion India Limited IPO allotment, grey market price, and other details like the company’s background, Go Colors IPO financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 655 to Rs 690 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 21 Shares |
| Listing Date | Nov 30, 2021 |
| Offer for Sale | Rs Million |
| Fresh Issue | Rs 1,250 Million |
| IPO Size | Rs 10136.1 Million |
| Tick Size | 1 |
Go Fashion India IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Go Fashion India IPO – Summary
Their company was incorporated on September 9, 2010, as a private limited company under the Companies Act, 1956, and was granted a certificate of incorporation by the Registrar of Companies, Tamil Nadu at Chennai (“RoC”).
The name of their Company was subsequently changed to Go Fashion (India) Limited upon conversion to a public limited company pursuant to the special resolution dated July 1, 2021, passed by the shareholders of their Company and a fresh certificate of incorporation was issued by the RoC on July 12, 2021.
The Promoter of this company is PRAKASH KUMAR SARAOGI, GAUTAM SARAOGI, RAHUL SARAOGI, PKS FAMILY TRUST, AND VKS FAMILY TRUST. The lead manager to the issue is: JM Financial Limited, DAM Capital Advisors Limited, and ICICI Securities Limited, and the Registrar to this issue is KFin Technologies Private Limited.
Go Fashion IPO Date or Go Colors IPO Open Date
The opening and the closing date of Go Fashion India IPO are Nov 17, 2021 and Nov 22, 2021 respectively.
Check out Related IPO Links:
| Go Fashion India IPO GMP |
| Allotment – Go Fashion India IPO |
Go Fashion India IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 17th Nov | 0.25x | 0.44x | 12.14x | 2.46x |
| 2nd Day – 18th Nov | 3.24x | 2.30x | 24.64x | 6.87x |
| 3rd Day – 19th Nov | 3.24x | 2.30x | 24.64x | 6.87x |
| 4th Day – 22nd Nov | 100.73x | 262.08x | 49.70x | 135.46x |
| Shares Offered or Net Issue | 4,406,996 | 2,203,497 | 1,468,998 | 8,079,491 |
The shares subscribed by the public will be updated here.
Check Go Colors IPO LIVE Subscription
- Go Fashion India IPO LIVE Bid details on BSE
- Go Fashion India IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Go Fashion India IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Go Fashion India Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Nov 25, 2021 |
| Refunds Initiation | Nov 26, 2021 |
| Credit of Shares to Demat Account | Nov 29, 2021 |
| Share Listing Date | Nov 30, 2021 |
Go Fashion India IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 655 to Rs 690
Go Fashion India IPO Size
This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs 655 to Rs 690 per equity share aggregating to Rs.10136.1 Million.
Go Colors IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.10136.1 Million
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Go Fashion India IPO – Live Performance
The listing date of this IPO is Nov 30, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Go Fashion India Share Price |
Go Fashion India IPO Grey Market Premium
The Go Fashion India Limited IPO Grey Market Premium price is Rs 450, the Kostak rate is Rs 0 and the Subject to Sauda is 9000.
Go Fashion India IPO – Company Overview
India stands as the third-largest apparel market in the world sharing its position with Japan and Germany in terms of value. However, India’s unit consumption is estimated to be more than 4 times when compared with Japan and Germany, indicating that the Indian market is dominated by value fashion.
Apparel market size in Fiscal 2020 was ₹ 447,666 crores (US$ 59.69 billion) and expected to grow at a CAGR of approximately 8.95% between Fiscal 2020 and Fiscal 2025 to reach ₹ 687,263 crores (US$ 91.64 billion) by Fiscal 2025 on the back of factors like higher brand consciousness, increasing digitization, greater purchasing power, and increasing urbanization.
While the apparel market has degrown by approximately 32% to reach a value of ₹ 3,06,225 (US$ 40.83 billion) in Fiscal 2021 due to the negative impact of the COVID-19 pandemic, the market is expected to recover at a higher pace of 22.4% between Fiscal 2022 and Fiscal 2025.
Go Fashion India IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 5,483.67 | 5,191.86 | 4,041.31 |
| *Total Revenue | 2,822.52 | 3,968.39 | 2,909.79 |
| Total Expense | 2,853.87 | 3,285.53 | 2,487.65 |
| Profit After Tax | (35.39) | 526.34 | 309.41 |
Earnings per Equity Share (in Million)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | (0.68) | 10.08 | 5.93 |
Further, their PAT for the period ended on March 31, 2020, March 31, 2019, and March 31, 2018, were Rs. (35.39) Million, Rs. 526.34 Million and Rs. 309.41 Million respectively.
Go Colors IPO – Promoters
The Promoter of this company is:
- PRAKASH KUMAR SARAOGI
- GAUTAM SARAOGI
- RAHUL SARAOGI
- PKS FAMILY TRUST
- VKS FAMILY TRUST
List of Related Parties (Key Managerial Personnel)
- Prakash Kumar Saraogi, Managing Director
- Gautam Saraogi, Executive Director and Chief Executive Officer
- Rahul Saraogi, Non-Executive Director
- Ravi Shankar Ganapathy Agraharam Venkataraman, Non-Executive Nominee Director
- Srinivasan Sridhar, Chairperson, and Independent Director
- Rohini Manian, Independent Woman Director
Go Fashion India IPO – Promoters Holding
- Pre Issue Share Holding -57.47%
- Pos Issue Share Holding – %
Go Fashion India IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.10136.1 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 30,000,120 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Go Colors IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Funding roll out of 120 new EBOs;
2. Funding working capital requirements;
3. General corporate purposes
Go Colors – Business Strategy
- Leverage leadership position in women’s bottom-wear market and focus on additional product launches and Same-Store Sales Growth
- Continue to expand retail network with a focus on EBOs
- Grow sales through the online channel
- Leverage technology to bring cost efficiency and enhance customer experience
Go Colors IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Among the largest women’s bottom-wear brand in India with a well-diversified product portfolio and first-mover advantage;
- Multi-channel pan-India distribution network with a focus on EBOs, enhancing brand visibility;
- Strong unit economics with the efficient operating model;
- Extensive procurement base with highly efficient and technology-driven supply chain management;
- In-house expertise in developing and designing products; and
- Demonstrated track record of strong financial performance.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | -0.68 | -1.25 | 54.21 |
| 31-Mar-20 | 10.08 | 18.38 | – |
| Mar-19 | 5.93 | 13.55 | – |
Go Fashion India IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Go Fashion India Limited | 10 | [●] | -0.68 | -1.25 | 2,822.52 |
| Listed Peers | |||||
| Page Industries Limited | 10 | 106.35 | 305.35 | 38.5 | 28,524.34 |
| Trent Limited | 1 | NA | -4.11 | -7.7 | 27,946.60 |
| Bata India Limited | 5 | NA | -6.95 | -5.1 | 18,026.65 |
| Aditya Birla Fashion & Retail Limited | 10 | NA | -8.23 | -27.5 | 53,223.20 |
| TCNS Clothing Company Limited | 2 | NA | -8.85 | -9.2 | 6,845.25 |
Go Fashion India IPO Lead Managers
| Lead Managers |
| : JM Financial Limited
DAM Capital Advisors Limited ICICI Securities Limited |
Go Fashion India IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Private Limited (Formerly known as Karvy Fintech Private Limited) Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032, Telangana, India Tel: +91 40 6716 2222 E-mail: gofashion.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M. Murali Krishna SEBI registration number: INR000000221 |
Go Fashion India IPO – Other Details
- Statutory Auditor – Deloitte Haskins & Sells, LLP, Chartered Accountants
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – RBL Bank Limited and ICICI Bank Limited
Go Fashion India IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Go Fashion India Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Go Fashion India IPO Review FAQs
Ques – What is the Issue Size of Go Fashion India IPO?
Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Price band of Go Fashion India IPO?
Answer – The price band for this particular IPO ranges between Rs 655 to Rs 690. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Go Colors IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 17, 2021, while the closing date is set at Nov 22, 2021.
Ques – What is the Go Fashion India IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Nov 25, 2021, refund initiation is on Nov 26, 2021, credit of shares is on Nov 29, 2021, and share listing date is on Nov 30, 2021.
Ques – What is the Go Colors IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges on Nov 30, 2021. The date, when the listing would be done, is stagnant on Nov 30, 2021.
Ques – Who is the Registrar of Go Fashion India IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Go Fashion India IPO?
Answer – Here are the promoters of this IPO – PRAKASH KUMAR SARAOGI, GAUTAM SARAOGI, RAHUL SARAOGI, PKS FAMILY TRUST, AND VKS FAMILY TRUST. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is the GMP of Go Fashion India IPO?
Answer – They have obtained the GMP of this IPO and it is Rs 450. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Go Colors IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Go Fashion India Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is (35.39), 2020 is 526.34, 2019 is 309.41.
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