Go Fashion IPO subscribed 135 times on closing day despite Paytm fiasco

Offers consists of fresh equity issue of aggregating up to Rs 125 crore and OFS of Rs 890 crore

The initial public offering (IPO) of Go Fashion, which owns women’s wear brand Go Colors, was subscribed a staggering 135 times on Monday, the concluding day of the offer. The institutional portion was subscribed 100.7 times, the wealthy investor portion by 262 times and the retail portion by 49 times, as per data provided by stock exchanges on 5 pm.

The strong response to the IPO comes despite the Paytm listing fiasco.

Go Fashion’s IPO comprised a fresh issue of equity shares aggregating up to Rs 125 crore and an offer-for-sale (OFS) of Rs 890 crore. The company plans to use the proceeds of the fresh issue to fund the roll-out of 120 new exclusive brand outlets and support working capital requirements.

Last week, the company allotted Rs 455 crore to anchor investors, which included Government of Singapore, Abu Dhabi Investment Trust, Nomura, SBI MF and Axis MF.

Go Fashion is engaged in retailing of women’s wear products. It has a range of products sold across multiple categories: ethnic wear, western wear, fusion wear, athleisure, denim, and sizes.