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Monday, January 17, 2022

Go Fashion Listing: Bumper listing of Go Fashion, shares rose 90 percent in debut trade itself

Great listing of Go Fashion stocks.

There has been a bumper listing of Go Fashion (India) shares. In its debut trade itself, this share reached 90 percent more than the issue price. Share of Go Fashion opened at Rs 1316. In the debut trade itself, it was seen trading at 90.72 percent more than its issue price. Go fashion (India) shares had a great listing on the stock exchange today. Go Fashion, the operator of the women’s bottomwear brand, opened at Rs 1316 in its debut itself. This is 90.72 percent more than the upper band of Rs 655-690 of its IPO.

The company has 8 percent share of the branded women’s botwear market.

Go Fashion opened its IPO for subscription earlier this month. The company had entered the primary market to raise Rs 1014 crore through fresh share allotment and offer for sale. The market capitalization of Go Fashion is Rs 7107. Analysts at ICICI Direct say that the IPO has been valued at 9.4 times on the upper band. Although the brokerage firm has not rated it, it says that such a good response to GoFashion is a sign of the shift of women’s bottomwear from the unorganized market to modern retail. The market for branded women bottom wear is Rs 4473 crore and the company has 8 per cent stake in it.

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Brokerage firms advised to subscribe

Marwari Financial Services had advised to subscribe to this IPO. He said that the company is a well-known name in the women’s botwear segment. Its portfolio is diversified and it is a pan Indian distribution network. The brokerage firm said that the valuation of this IPO is absolutely correct. The IPO of Go Fashion received a great response from the investors. All its categories got oversubscription. The reserve portion of QIBs was subscribed 100 times while that of NII was subscribed 262 times. The retail category was subscribed 49 times. Due to this the entire IPO was oversubscribed 135 times.

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