InvestorQ : How as the subscription response to the IPO of Go Fashion that closed for subscription on 22 November?
vaishnavi mhatre made post

How as the subscription response to the IPO of Go Fashion that closed for subscription on 22 November?

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vidhya Laxmi answered.
1 week ago
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The response to the IPO overall was huge at 135.40 times the offer size. On an overall basis, the IPO of Go Fashion got bids for 10,939.93 lakh shares as per data put out by the BSE against a total of 80.79 lakh shares on offer in the IPO. On the last day of the IPO on Monday, there was a surge in buying from HNIs and QIBs as corporate and funded applications crowded into the IPO on the last day.

Let me first talk about the QIB portion response. Prior to the IPO, Go Fashion had done an anchor placement of 66,10,492 shares at Rs.690 raising Rs.456 crore. Only the residual portion was available for QIB bidding. Of the balance 44.07 lakh shares available, bids came in for 4,439.24 lakh shares at close implying a QIB subscription ratio of 100.73X. That is a sign of very robust institutional participation.

Finally, let me come to the HNI and the retail part. The HNI (non-institutional) portion got subscribed 262.08X as it got applications for 5,775.01 lakh shares against the available quota of just 22.03 lakh shares). On the retail quota for Go Fashion, there was total of 14.69 lakh shares on offer and valid bids were received for 725.7 lakh shares. That implied 49.4x subscription for retail portion. Overall, the issue has closed with a bumper response.

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