Go Fashion IPO Subscribed 135.40 Times On Last Day Of Issue

The preliminary public provide (IPO) of Go Fashion, which owns girls's put on model Go Colors, was subscribed 135.40 instances on Monday, which was the final day of its situation.Against 80,79,491 shares on provide, bids have been acquired for 1,09,39,93,929 shares on the final day. Non institutional traders (NIIs) subscribed the problem 262.08 instances, whereas certified institutional consumers (QIBs) booked it 100.73 instances.The firm had fastened a value band of Rs 655-690 per share for the problem. An investor might bid for no less than 21 fairness shares and in multiples thereof.    The IPO comprised Rs 1,014-crore recent situation 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 the promoter and current shareholders, confirmed the draft pink herring prospectus (DRHP) of the corporate.     Go Fashion had opened its Rs 1,013.61crore public situation for subscription on November 17. Its third and final day was prolonged to November 22, because it was a public vacation on November 19 resulting from Guru Nanak Jayanti.Incorporated in 2010, Go Fashion has a pan-India community of 459 unique model shops within the nation, with a major variety of shops in southern and western India.The firm proposes to make use of the web proceeds from the recent situation in the direction of assembly its working capital necessities and for basic company functions.