Go Fashion IPO subscribed 135.46 times

The initial public offer of Go Fashion (India) Limited, which owns women's wear brand Go Colors, received a whopping 135.46 times subscription on the last day on Monday.

The Rs 1,013.6-crore IPO received bids for 1,09,44,34,026 shares against 80,79,491 shares on offer, according to data available with the NSE.

The portion for non-institutional investors was subscribed 262.08 times, Qualified Institutional Buyers (QIBs) 100.73 times and Retail Individual Investors (RIIs) 49.70 times.

The initial public offer had a fresh issue of up to Rs 125 crore and an offer for sale of up to 12,878,389 equity shares.

Price range for the offer was at Rs 655-690 per share.

The initial public offer of Go Fashion (India) Limited was fully subscribed within hours of opening on Wednesday.

Equity markets were closed on Friday on account of 'Guru Nanak Jayanti'.

Go Fashion (India) Ltd on Tuesday raised a little over Rs 456 crore from anchor investors.

The proceeds from the fresh issue will be used to fund the roll-out of 120 new exclusive brand outlets to support working capital requirements and general corporate purposes.

The company is engaged in the development, design, sourcing, marketing and retailing of a range of women's bottom-wear products under the brand 'Go Colors'.

Its bottom-wear products, including churidars, leggings, dhotis, harem pants, Patiala, palazzos, culottes, pants, trousers and jeggings are sold across multiple categories such as ethnic wear, western wear, fusion wear, athleisure, and types of denim.

JM Financial, DAM Capital Advisors and ICICI Securities were the managers to the offer.

The equity shares will be listed on the BSE and the NSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)