The public issue of Go Fashion, which owns the brand Go Colors, had been subscribed 135.46 times on Monday, the third and final day of bidding.
Investors had put in bids for 109.44 crore equity shares against an offer size of 80.79 lakh units, as per the exchange data, reported Moneycontrol.
However, after a stellar subscription to the IPO, investors are keenly watching the share allotment of Go Fashion India. The allotment is expected to be finalised later on November 25.
Investors can check their share application status either on the BSE website or the website of IPO registrar.
On the BSE website, investors have to follow these three easy steps,
a) Select Equity and Issue Name (Go Fashion India Limited)
b) Enter Application Number and PAN Number
c) And finally check box (I’m not a robot) and click on Search button.
Alternatively, the share allotment status can be checked on the IPO registrar’s portal.
a) Choose IPO (Go Fashion India Limited) in the dropdown
b) Select and accordingly enter either Application Number, or DPID/Client ID, or PAN Number
c) Finally, enter the Captcha and click on Submit
After the allotment finalisation, unsuccessful investors will get the refunds in their bank accounts by November 26, and equity shares will get transferred to demat accounts of eligible investors by November 29.
Earlier, this is what brokerage houses said about Go Fashion IPO:
Analysts at the brokerage firm have a bullish long-term view of Go Fashion. Although the brokerage firm said that the issue is priced at EV/Sales multiple of 13.8x, which is at a premium to peer average of 10.9x, analysts believe there is potential for Go Fashion to expand market share.
“We feel that it has the potential to expand the business and also almost fully recover the lost profitability due to the pandemic. Thus, we assign a “Subscribe for Long Term” rating for the issue,” they said.
Marwadi Financial Services
The brokerage firm highlighted that the company has a strong product portfolio and a multi-channel pan-India distribution network. Analysts said that considering TTM (June-2021) sales of Rs 271.4 crore on post issue basis, the company is going to list at Market cap/sales of 13.73 with the market cap of Rs 3,726 crore, while its peers namely Page industries and Trent are trading at market cap/sales of 13.21 and 11.89 respectively.