Go Fashion Ends 81% Higher On Market Debut
Shares of Go Fashion (India) Ltd. surged on debut after investors piled into the women's bottom-wear maker's IPO.
Shares of Go Fashion (India) Ltd. ended higher on debut after investors piled into the women's bottom-wear maker's initial public offering.
The stock listed at Rs 1,316 apiece, a 90.7% premium to its IPO price of Rs 690, according to Bloomberg data. The scrip then fell hit an intraday low and high of Rs 1,143.1 and Rs 1,339.9. It ended at Rs 1,250.3 apiece, up over 81% from its IPO price.
Seventh-Most Subscribed IPO
Go Fashion's Rs 1,013-crore IPO, which was extended till 7 p.m. on the final day, was subscribed 135.5 times, making it the seventh-most subscribed issue of 2021.
The Chennai-based company plans to use Rs 33.7 crore of the IPO proceeds to fund rollout of 120 brand outlets, while Rs 61.4 crore would be utilised for working capital requirements. The rest will go for general corporate purposes.