New Delhi: The initial public offering (IPO) of Go Fashion (India) Ltd, owner of women's wear brand Go Colors, opened for subscription on Wednesday. For the Rs 1,014 crore public offer, the company has fixed a price band of Rs 655-690 per share. The offering will conclude on November 22. The closing date has been extended because of the market holiday on Friday (November 19) on account of Guru Nanak Jayanti.
The IPO comprises fresh issue of equity shares aggregating up to Rs 125 crore and an offer for sale (OFS) of up to 12,878,389 equity shares by promoter and existing shareholders.
Here Are Key Things To Know About The IPO:
* Under the OFS, PKS Family Trust and VKS Family Trust are going to offload 7.45 lakh equity shares each, Sequoia Capital India Investments will sell up to 74.98 lakh shares, India Advantage Fund S4 I will divest up to 33.11 lakh shares and Dynamic India Fund S4 US I will sell up to 5.76 lakh shares.
* Currently, PKS Family and VKS Family Trust hold 28.74 per cent stake each in the company, Sequoia Capital holds 28.73 per cent stake, India Advantage Fund has 12.69 per cent stake and Dynamic India Fund owns 1.1 per cent stake in the firm.
* Go Fashion has raised a little over Rs 456 crore from anchor investors.
* The company has decided to allocate a total of 66,10,492 equity shares to 33 anchor investors at Rs 690 apiece, aggregating the transaction size to Rs 456.12 crore, according to a circular uploaded on the BSE website.
* About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, while the remaining 10 per cent has been set aside for retail investors.
* Investors can bid for a minimum of 21 equity shares and in multiple thereof.
* JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers to the issue.