How has been the subscription response to the Go Fashion India IPO, which is currently open?
Answer
Answer
The Rs.1,014 crore IPO of Go Fashion India saw good response on Day-1 of the IPO and by close of Day-2 it was subscribed 6.87X overall as per details put out by the BSE. The issue closes for subscription on Monday, 22-November. The IPO has seen good demand across QIBs, HNIs and also the retail segment. Overall, out of the 80.79 lakh shares on offer in the IPO, Go Fashion India got bids for 555.12 lakh shares, implying overall subscription of 6.87X.
Let me now turn to the segment wise subscription. QIB portion, net of anchor) has a quote of 44.07 lakh shares and saw bids for 142.60 lakh shares implying subscription ratio of 3.24X. The NII/HNI segment was subscribed 2.30X as it got applications for 50.58 lakh shares against the quota of 22.03 lakh shares. The retail portion was subscribed a good 24.64 times getting bids for 361.94 lakh shares against 14.69 lakh shares on offer. Retail quota is 10%.
The IPO of Go Fashion India has been priced in the band of Rs.655-Rs.690. Most of the QIB and HNI subscriptions are expected to only come in on the last day of subscription, as is the normal practice.