Price Band fixed at ₹655 to ₹690 per Equity Share of face value of ₹10 each of Go Fashion (India) Limited
- Offer to remain open from Wednesday, November 17, 2021 to Monday, November 22, 2021
- Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter
Go Fashion (India) Limited (“Go Fashion” or the “Company”), a women’s bottom-wear brand in India, with a market share of approximately 8% in the branded women’s bottom-wear market in Fiscal 2020, plans to open its Initial Public Offering (the “Offer”) on November 17, 2021.
The Price Band of the Offer has been fixed at ₹655 to ₹690 per Equity Share of face of ₹10 each. Bids can be made for a minimum of 21 Equity Shares and in multiples of 21 Equity Shares thereafter.
The Offer consists equity shares of face value of ₹10 each of Go Fashion (India) Limited comprising of a fresh issue of equity shares by the company aggregating up to ₹ 1,250 million (the “Fresh Issue”) and an offer for sale by PKS Family Trust of up to 745,676 equity shares, VKS Family Trust of up to 745,676 equity shares aggregating (collectively referred to as to the “Promoter Selling Shareholders”) and by Sequoia Capital India Investments IV of up to 7,498,875 equity shares, by India Advantage Fund S4 I of up to 3,311,478 equity shares and by Dynamic India Fund S4 US I of up to 576,684 equity shares (collectively referred to as “Investor Selling Shareholders”).
The Net Proceeds from the Fresh Issue are proposed to be utilised for (i) Funding roll out of 120 new EBOs; (ii) Funding working capital requirements; and (iii) General corporate purposes.
The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”) post the listing.
JM Financial Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited) and ICICI Securities Limited^ are the Book Running Lead Managers to the Offer.
