GO Fashions India Limited initiated its business operations in 2010. The company has more than 1330 Large Format stores currently. It is the leader in women’s bottom wear brands. It has more than 445 exclusive brand outlets currently. The distribution network includes business with Reliance Retail, Globus Stores PVT LTD, Unlimited, Spencer’s Retail, etc. The swelling also takes place through its online portal.
IPO DETAILS
Go Fashion (India) Limited IPO is set to launch on 17th Nov., 2021. The subscription timeline extends till 22nd Nov, 2021. The size for the IPO is 1013.61 Crore Rs.. Shares issued through Fresh Issue are worth Rs. 125 Crore. Shares issued through Offer for Sale are worth Rs. 888.61 Crore. The lot size is 22 shares and the price range is 655 Rs. – 690 Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs.10 and this is a book built issue. The registrar for the company is Karvy Fintech Private Limited.
TABULAR REPRESENTATION OF IPO DETAILS
| IPO OPENING DATE | 17th Nov, 2021 |
| CLOSING DATE FOR IPO | 22nd Nov, 2021 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 655 Rs. – 690 Rs. |
| LOT SIZE | 21 shares |
| MINIMUM ORDER QUANTITY | 21 shares |
| ISSUE SIZE | 1013.61 Crore Rs. |
| OFFER FOR SALE | 888.61 Crore Rs. |
| FRESH ISSUE | 125 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 30th Nov, 2021 |
IMPORTANT DATES
| IPO OPENING DATE | 17th Nov, 2021 |
| CLOSING DATE FOR IPO | 22nd Nov, 2021 |
| IPO ALLOTMENT DATE | 25th Nov, 2021 |
| REFUNDS | 26th Nov, 2021 |
| DEMAT A/C CREDITED ON | 29th Nov, 2021 |
| IPO LISTING DATE | 30th Nov, 2021 |
The Go Fashion (India) Limited IPO begins for subscription from 17th Nov, 2021. The IPO subscription would continue till 22nd Nov, 2021. The allotment status for the shareholders who applied would come on 25th Nov, 2021. The refunds for the ones who did not get allotment would be initiated on 26th Nov, 2021. The DEMAT accounts of shareholders would be credited on 29th Nov, 2021. The listing of the company would be accompanied on 30th Nov, 2021.
Lead Managers And Promoters
The lead managers are :
- JM Financial Consultants Private Limited
- ICICI Securities Limited
- DAM Capital Advisors Limited
The promoters for the Company are Rahul Sarogi, Gautam Sarogi, PKS Family Trust, Prakash Sarogi and VKS Family Trust.
The minimum lot size for the company is decided at 21 shares. This holding accounts to 14490 Rs.. The maximum lot size is decided at 273 shares. This amounts to Rs. 188370. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 21 shares | 14490 Rs |
| Maximum | 273 shares | 188370 Rs |
OBJECTIVES FOR THE IPO
- The funds can be utilized for General corporate purposes.
- The Company wants to expand itself and find more than 120 new brand outlets.
COMPANY FINANCIALS
| Particulars (in Million Rs.) | 2020-21 | 2019-20 | 2018-19 |
| ASSETS | 5483 | 5191 | 4041 |
| REVENUE | 2822 | 3968 | 2909 |
| NET PROFIT | (35.39) | 526 | 310 |
GO Fashion India Limited’s asset base has been increasing at a large scale. The initial increase noticed is almost for 1000 Crore Rs. The next increase is only for 300 Crore Rs. The reason for such a small increase is the loss for the company in the previous year. Some impact is due to the COVID situation. However the entire sales is not dependent on only one or two months. Hence the company’s working can be questioned for the loss recorded. Apart from that the revenue stream is seen increasing initially. However the revenues went down by almost 1000 Crore Rs in the recent year which is a major downgradation.
The assets have been increased but the response cannot be seen. This has resulted in loss for the company as well. Thus the loss posted is a result of low asset increase, decrease in revenue and COVID situation. One has to review the company’s performance for one quarter closely before investing big into the company.
PROS
- Go Fashion has grown very much in its initial 10 years itself. The company deals with major fashion outlets like Reliance Retail, Globus Stores etc.
- It has more than 445 Exclusive stores and 1330+ Large Format Stores.
- Continuous increase in asset base.
CONS
- The company reported a loss in the recent year due to the COVID situation. However small it seems, though this would have a n impact on the company’s financial record.
Go Fashion (India) Limited IPO APPLICATION PROCESS WITH ZERODHA
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform.
- Clicking the IPO link present in the Portfolio section.
- Click the Go Fashion (India) Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
