Go Fashion Shares To Debut On Bourses On November 30
Go Fashion, a women’s clothing brand, will make its stock market debut on Tuesday, November 30. According to grey market tendencies, the shares will likely list at a premium of 65 percent to 70 percent.Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will list them (BSE).Between November 17 and November 22, Go Fashion raised Rs. 1,014 crore through a public issue that was subscribed 135.46 times.
Non-institutional investors had bid 262.08 times the amount made out for them, while qualified institutional investors had bid 100.73 times the amount set aside for them. Retail investors purchased 49.70 times the amount set out for them.The IPO included a 125 crore fresh issuance and an 888.61 crore offer-for-sale by promoters and investors.Experts say the grey market premium is supported by excellent subscription numbers, good topline growth, a healthy return on equity and operating margin, and strong growth prospects.
As of FY20, Go Fashion is a well-known women’s bottom wear brand in India, with multi-channel distribution and an 8% market share in the branded women’s bottom wear market. At a valuation of Rs 3,726.6 crore, it raised Rs 1,014 crore.”Its price-to-sales ratio of 13.73 is comparable to Page Industries and Trent, two of its competitors. It has a strong track record of revenue growth, returns on equity, and operating margin, making it a compelling investment “Founder of Wright Research, Sonam Srivastava, remarked
From Rs 13,500 crore in FY20 to Rs 24,300 crore in FY25, the women’s bottom wear industry is predicted to rise to Rs 24,300 crore. “Due to its significant brand presence, the company has a lot of potential. While the value is justified in comparison to peers based on the listing price, a 50% premium over peers should make it highly expensive considering Aditya Birla Retail and Reliance Fashion trade at substantially lower valuations “Srivastava stated.
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