Go Fashion shares amount to 1,316 while shares were awarded at 690 per share
- Actions of
Go fashionablelisting at â¹ 1,316 while shares were allotted at 690 per share.
- The IPO was in high demand by investors as it was subscribed 135.46 times on the last day of the tender.
- Investors to whom the company’s shares were awarded made a profit of 13,146 in an IPO lot at 90% gains.
- The market capitalization of the company was 7,107 crore.
The shares of Go Fashion, one of the largest brands of women’s socks in India that sells under the brand name Go Colors, made a dazzling listing on the National Stock Exchange (NSE) and BSE with a premium of 90% compared to the issue price of 690 a piece.
After listing, the company’s market cap stood at 7,107 crore, according to BSE data.
Go Fashion shares were trading at 1,248, up 80% at 10:01 am on November 30.
The price gains of 626 are well above the gray market premium which indicated a premium of 450 per share.
The IPO opened between November 17 and 22 and was oversubscribed 135.46 times by investors.
Go Fashion is engaged in the development, design, sourcing, marketing and retailing of a line of women’s bottoms under the âGo Colorsâ brand. TCNS offers outerwear, bottoms, curtains, combination sets and accessories for women under three major brands W, Aurelia and Wishful W.
Analysts were optimistic about the prospects for Go Fashion’s future expansion plans and the good market share for branded women’s bottoms.
Women’s stockings are the fastest growing category in the womenswear segment and are expected to reach 243 billion yen by fiscal year 25, up from 135 billion yen in 20, according to Reliance Securities.
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