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Go Fashion (India) Limited, a women's bottom-wear brand in India, plans to open its Initial Public Offering (IPO) on November 17, 2021. The price band of the offer has been fixed at Rs 655 to Rs 690 per equity share of the face of Rs 10 each. Bids can be made for a minimum of 21 equity shares and in multiples of 21 equity shares, thereafter.
The net proceeds from the IPO will be used for the rollout of 120 new EBOs, working capital requirements, and general corporate purposes.
The offer consists of equity shares of the face value of Rs 10 each of Go Fashion (India), comprising of a fresh issue of equity shares by the company of Rs 125 crore and an offer for sale by PKS Family Trust of up to 745,676 equity shares; VKS Family Trust of up to 745,676 equity shares; Sequoia Capital India Investments IV of up to 7,498,875 equity shares; India Advantage Fund S4 I of up to 3,311,478 equity shares; and Dynamic India Fund S4 US I of up to 576,684 equity shares.
The offer is being made through the book-building process, in which not less than 75 per cent of the offer will be available for allocation to Qualified Institutional Buyers (QIBs), provided the company and the selling shareholders allocate up to 60 per cent of the QIB portion to anchor investors.
Further, 5 per cent of the QIB portion (excluding the anchor investor portion) will be available for allocation on a proportionate basis only to mutual funds, provided valid bids are received at or above the offer price.
The remainder will be available for allocation on a proportionate basis to all QIBs (other than anchor investors), including mutual funds. If at least 75 per cent of the offer can't be allotted to QIBs, the entire application money will be refunded.
Further, not more than 15 per cent of the offer will be available for allocation to non-institutional investors and not more than 10 per cent of the offer will be available for allocation to retail individual investors.
