Go Fashion IPO to open on November 17

The Rs 800-crore preliminary share-sale of Go Fashion (India) Ltd, which owns ladies’s put on model Go Colors, will open for public subscription on November 17.
The preliminary public providing (IPO) will conclude on November 22, in accordance with the pink herring prospectus (RHP).
The IPO includes recent difficulty of fairness shares aggregating as much as Rs 125 crore and an offer-for-sale of as much as 12,878,389 fairness shares by promoter and current shareholders, the draft pink herring prospectus (DRHP) confirmed.
Under the OFS, PKS Family Trust and VKS Family Trust are going to dump 7.45 lakh fairness shares every, Sequoia Capital India Investments will promote as much as 74.98 lakh shares, India Advantage Fund S4 I’ll divest as much as 33.11 lakh shares and Dynamic India Fund S4 US I’ll promote as much as 5.76 lakh shares.
Currently, PKS Family and VKS Family Trust maintain 28.74 per cent stake every within the firm, 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 within the agency.
According to market sources, the IPO is predicted to fetch Rs 800 crore.
Proceeds from the recent difficulty will probably be used to fund the roll out of 120 new unique model retailers, to assist working capital necessities and basic company functions.
The firm is engaged within the improvement, design, sourcing, advertising and retailing of a variety of ladies’s bottom-wear merchandise beneath the model, ‘Go Colors’.
It is among the many few attire firms in India to have recognized the market alternative in ladies’s bottom-wear and have acted as a ‘category creator’ for bottom-wear.
Its bottom-wear merchandise, together with churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers and jeggings, are offered throughout a number of classes akin to ethnic put on, western put on, fusion put on, athleisure, jeans and plus sizes.
JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers to the problem. The fairness shares will probably be listed on BSE and NSE.