Mumbai, Nov 13: Go Fashion (India) Limited, a women’s bottom-wear brand in India, has planned to open its Initial Public Offering (IPO) on November 17.
The price band of the offer has been fixed at Rs 655 to Rs 690 per equity share of face of Rs 10 each. Bids can be made for a minimum of 21 equity shares and in multiples of 21 equity shares thereafter.
The offer consists equity shares of face value of Rs 10 each of Go Fashion (India) Limited comprising of a fresh issue of equity shares by the company aggregating up to Rs 1,250 million (the “Fresh Issue”) and an offer for sale by PKS Family Trust of up to 745,676 equity shares, VKS Family Trust of up to 745,676 equity shares aggregating (collectively referred to as to the “Promoter Selling Shareholders”) and by Sequoia Capital India Investments IV of up to 7,498,875 equity shares, by India Advantage Fund S4 I of up to 3,311,478 equity shares and by Dynamic India Fund S4 US I of up to 576,684 equity shares (collectively referred to as “Investor Selling Shareholders”).
The net proceeds from the fresh issue are proposed to be utilised for funding roll out of 120 new EBOs; funding working capital requirements; and general corporate purposes.