Go Fashion (India) Limited, a women’s bottom-wear brand in India, plans to open its Initial Public Offering (IPO) on November 17, 2021. The price band of the offer has been fixed at R655-Rs690 per equity share of face value of Rs10 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 Rs10 each of Go Fashion (India) Limited comprising a fresh issue of equity shares by the company aggregating up to Rs1,250 million 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 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.
Further, not more than 15% of the offer shall be available for allocation on a proportionate basis to non-institutional investors and not more than 10% of the Offer shall be available for allocation to retail individual investors.
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.