Go Style IPO was subscribed 135.40 times on last day of its issueThe initial public offer (IPO) of Go Style, which owns women's wear brand name Go Colors, was subscribed 135.40 times on Monday, which was the last day of its issue.Against 80,79,491 shares available, quotes were received for 1,09,39,93,929 stocks on the last day.
Non institutional investors (NIIs) subscribed the issue 262.08 times, while qualified institutional buyers (QIBs) booked it 100.73 times.The company had actually fixed a rate band of Rs 655-690 per share for the problem.
A financier could bid for a minimum of 21 equity shares and in multiples thereof.
The IPO comprised Rs 1,014-crore fresh problem of equity shares aggregating approximately Rs 125 crore and an offer-for-sale of up to 12,878,389 equity shares by the promoter and existing investors, revealed the draft red herring prospectus (DRHP) of the company.
Go Style had actually opened its Rs 1,013.61 crore public issue for subscription on November 17.
Its third and last day was extended to November 22, as it was a public holiday on November 19 due to Guru Nanak Jayanti.Incorporated in 2010, Go Fashion has a pan-India network of 459 special brand outlets in the nation, with a considerable number of shops in southern and western India.The company proposes to utilize the net profits from the fresh concern towards satisfying its operating capital requirements and for basic corporate functions.