Financial Insights

Go Fashion IPO Day 3: Issue subscribed 10.96 times, QIB portion booked 3.39 times

The company plans to use the net proceeds from the fresh issue (INR 25 crore) towards funding the roll-out of 120 new exclusive outlets and meeting working capital requirements.

The public issue of Go Fashion, which owns the brand Go Colors, had been subscribed 10.96 times by the morning of November 22, the third and final day of bidding. Investors put in bids for 8.85 crore equity shares against an offer size of 80.79 lakh units, as per the exchange data.

Retail investors have been active since day one of the bidding, buying shares 36.34 times their reserved portion, while the part set aside for non-institutional investors has been subscribed 9.19 times and that of qualified institutional buyers 3.39 times.

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