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Go Fashion (India) Limited IPO : GoColors IPO

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.