Go Fashion (India) Limited IPO Details

Dates, Price band, Lot size, Risks, Review and broker recommendations etc.
Go Fashion IPO

Go Fashion IPO: Key Details

  • Grey Market Premium (GMP) today: 500 – 530

Note: We neither trade nor encourage our readers to trade in the Grey Market. We share the GMP information for educational purposes only, so that, you can make an informed decision.

Company Information

Go Fashion (India) Limited is a women’s bottom-wear brand in India, with a market share of approximately 8% in the branded women’s bottom-wear market in Fiscal 2020. They are engaged in the development, design, sourcing, marketing and retailing a range of women’s bottom-wear products under the brand, ‘Go Colors’.

They are among the few apparel companies in India to have identified the market opportunity in women’s bottom-wear and have acted as a ‘category creator’ for bottom-wear. They were the first company to launch a brand exclusively dedicated to women’s bottom-wear category and have leveraged this advantage to create a direct-to-consumer brand with a diversified and differentiated product portfolio of premium quality products at competitive prices.

Competitive Strengths

  • Women’s bottom-wear brand with well-diversified product portfolio;
  • Multi-channel pan-India distribution network with a focus on EBOs, enhancing brand visibility;
  • Strong unit economics with an efficient operating model;
  • Extensive procurement base with highly efficient and technology-driven supply chain management;
  • In-house expertise in developing and designing products; and
  • Demonstrated track record of strong financial performance

Company Strategy

  • Leverage leadership position in women’s bottom-wear market and focus on additional product launches and Same Store Sales Growth
  • Continue to expand retail network with a focus on EBOs
  • Grow sales through online channel
  • Leverage technology to bring cost efficiency and enhance customer experience

Proceeds from Go Fashion IPO will be used to:

  • Funding roll out of 120 new brand outlets;
  • Funding working capital requirements; and
  • General corporate purposes.

Go Fashion IPO: Financials

201920202021 Mar2021 June
Revenue from Ops₹285.25 Cr₹392.01 Cr₹250.67 Cr₹69.15 Cr
Prof Before Exp. Items₹42.21 Cr₹68.29 Cr₹(3.14) Cr₹(18.37) Cr
Profit after Tax₹30.94 Cr₹52.63Cr₹(3.54) Cr₹18.99 Cr
EPS (Basic)5.9310.08(0.68)(3.64)
₹ in Crores, except EPS

EPS (Avg*)P/E (Floor)P/E (Cap)
Based on basic EPS4.01163.34172.07
* Weighted Average for last 3 years

Go Fashion IPO: Comparison with listed industry peers

EPSP/E (Floor)
Go Fashion4.01*172.07
Page Industries305.45130.17
* Weighted Average for last 3 years

Go Fashion IPO Dashboard

Issue Details

TypeValue
Issue Size₹1,013.61 Cr
Fresh Issue₹125.00 Cr
Offer for Sale₹888.61 Cr
Face Value₹10/- per Equity Share
IPO Price₹655 – ₹690
Lot Size 21 shares
LotsMin 1 – Max 13

Key Dates

Date TypeDate
Bid Open17/11/2021
Bid Close22/11/2021
Allotment Finalization25/11/2021
Initiation of Refunds26/11/2021
Credit of Shares29/11/2021
Listing Date30/11/2021

Lot Size and Price

LotsSharesAmount
121₹14,490
13273₹1,88,370

Promoter Holding

HoldingPercentage
Pre-Issue57.47%
Post-Issue52.78%

Go Fashion IPO: Investor Quota and Shares Offered

Investor TypeQuotaShares on Offer
QIB75%
NII15%
RII (Retail)10%
Employees
Total100%

Go Fashion IPO: Risks

  • All products are sold under a single brand, ‘Go Colors’. An inability to effectively market the products and brand, or any deterioration in public perception of the brand, could affect business
  • They have incurred losses in Fiscal 2021. In the event they incur net loss in the future, the business and financial condition may be adversely affected.
  • They carry out operations from a single warehouse located in Southern India
  • Their funding requirements and the proposed deployment of Net Proceeds are not appraised by any independent agency
  • They may be unable to adequately protect their trademarks, including ‘GO GOLORS’ and an inability to protect or use intellectual property rights may adversely affect the business

For complete internal and external risk factors, you can refer to the RHP of the company.

Go Fashion IPO: Registrar and Lead Managers

Registrar of the Issue

KFintech (Formerly Karvy)

Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda, Serilingampally Mandal,
Hyderabad, Telangana India – 500 032

Phone: 1-800-309-4001
Email: [email protected]

Lead Managers of the Issue

  • ICICI Securities Limited
  • JM Financial Limited
  • DAM Capital Advisors Limited

Phone: +91 22 6807 7100
Email: [email protected]

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