December 6, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

Go Colors operator Go Fashion mops up Rs 456.12 crore from anchor investors ahead of IPO

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, Go Colors operator Go Fashion mops up Rs 456.12 crore from anchor investors ahead of IPO, The World Live Breaking News Coverage & Updates IN ENGLISH
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, Go Colors operator Go Fashion mops up Rs 456.12 crore from anchor investors ahead of IPO, The World Live Breaking News Coverage & Updates IN ENGLISH

Go Fashion IPO | Domestic investors including SBI Mutual Fund, HDFC Trustee, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life, SBI Life Insurance, and Kotak Mutual Fund made investment in the operator of Go Colors brand.

, Go Colors operator Go Fashion mops up Rs 456.12 crore from anchor investors ahead of IPO, The World Live Breaking News Coverage & Updates IN ENGLISH

Go Fashion on November 16 has raised Rs 456.12 crore from 33 anchor investors, ahead of its public issue opening. The offer will open for subscription on November 17 and will close on November 22.

The company in its BSE filing said it, in consultation with merchant bankers, has finalised allocation of 66,10,492 equity shares to anchor investors at Rs 690 per share, the upper price band.

Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Fidelity, Neuberger Berman Emerging Markets Equity Master Fund, University of Notre Dame Du LAC, and Volrado Venture Partners Fund II are among marquee investors invested in Go Fashion through anchor book.

Domestic investors including SBI Mutual Fund, HDFC Trustee, ICICI Prudential, Axis Mutual Fund, Aditya Birla Sun Life, SBI Life Insurance, and Kotak Mutual Fund also made investment in the operator of Go Colors brand.

Also read – Go Fashion IPO opens tomorrow | 10 key things to know about public issue including grey market premium, risks & concerns

Go Fashion’s brand Go Colors has a market share of approximately 8 percent in the branded women’s bottom-wear market in India in FY20, serving customers primarily through its extensive network of 459 EBOs (exclusive brand outlets) that are spread across 23 states and union territories in India, as of September 2021.

Click Here To Know All IPO Related News

The company is planning to mop up Rs 1,013.61 crore through its public issue that comprises a fresh issue of Rs 125 crore and an offer for sale of 1.28 crore equity shares by selling shareholders including promoters PKS Family Trust & VKS Family Trust and investors Sequoia Capital.

The price band for the offer has been fixed at Rs 655-690 per equity share.

The net proceeds from fresh issue will be utilised for funding roll out of 120 new EBOs (exclusive brand outlets); working capital requirements; and general corporate purposes.

Moneycontrol News

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