Go Fashion raises Rs 455 crore from anchor investors ahead of IPO

Go Fashion raises Rs 455 crore from anchor investors ahead of IPO
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Go Fashion (India), which owns women’s wear brand Go Colors, on Tuesday alloted shares worth Rs 455 crore from The company alloted 6.6 million shares at Rs 690 apiece. Government of Singapore, Abu Dhabi Investment Trust, Nomura, SBI MF and Axis MF are some institutional investors given allotment in the anchor category.

Go Fashion’s IPO opens on Wednesday and closes on Friday. The IPO comprises fresh issue of equity shares aggregating up to Rs 125 crore and an offer-for-sale (OFS) of Rs 890 crore. The fresh proceeds will be used to fund the roll-out of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes.

The company is engaged retailing of a range of women’s bottom-wear products under the brand Go Colors.

Its bottom-wear products, including churidars, leggings, dhotis, harem pants, patialas, palazzos, culottes, pants, trousers, and jeggings, are sold across multiple categories, such as ethnicwear, western wear, fusion wear, athleisure, denims, and plus sizes.

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