Go Fashion shares make a stellar debut, list at 90% premium

Asia's Tech News Daily

Go Fashion share price, Go Fashion, Go Fashion shares, Go Fashion share price target, Go Fashion listing, Go Fashion bse nse, Go Fashion news, Go Fashion ipo

New Delhi: Shares of leading women’s bottom-wear brand Go Fashion made a strong debut on Dalal Street on Tuesday as the scrip was listed at Rs 1,316 on BSE, a premium of 90.72 per cent over its price of Rs 690.

Shares of the company got listed at Rs 1,310 on the National Stock Exchange (NSE), 89.86 per cent premium over the given issue price.

Just a day ahead of the listing, Go Fashion shares were commanding a premium of Rs 490 apeice in the grey market, which is about 70 per cent over its issue price.

Dealers tracking the grey market believe that the company has been able to hold grounds due to its reasonable pricing and strong business model. However, the recent correction in the market has jittered the sentiments.

The company sold its shares in the range of Rs 655-690 during the initial offering and mopped up Rs 1,013.61 crore via the primary route.

The initial share sale of Go Fashion was open for subscription between November 17 and November 22 and it was subscribed 135.46 times.

The portion reserved for non-institutional investors was subscribed a whopping 262 times, whereas the quota for qualified institutions fetched bids over 100 times. Allocation for retail investors attracted bids about 50 times during the book building process.

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