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Go Fashion IPO share allotment likely today. Check status online, latest GMP, listing date

Go Fashion IPO | After the allotment finalisation, unsuccessful investors will get the refunds in their bank accounts by November 26, and equity shares will get transferred to demat accounts of eligible investors by November 29.

November 25, 2021 / 07:32 AM IST
Go Fashion IPO

Go Fashion IPO

 
 
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After a stellar subscription to the IPO, investors are keenly watching the share allotment of Go Fashion India, the operator of women’s bottom-wear brand Go Colors. The allotment is expected to be finalised later on November 25.


Investors can check their share application status either on the BSE website or the website of IPO registrar.


On the BSE website, investors have to follow these three easy steps, 


a) Select Equity and Issue Name (Go Fashion India Limited)


b) Enter Application Number and PAN Number


c) And finally check box (I’m not a robot) and click on Search button.


Alternatively, the share allotment status can be checked on the IPO registrar’s portal.


a) Choose IPO (Go Fashion India Limited) in the dropdown


b) Select and accordingly enter either Application Number, or DPID/Client ID, or PAN Number


c) Finally, enter the Captcha and click on Submit


After the allotment finalisation, unsuccessful investors will get the refunds in their bank accounts by November 26, and equity shares will get transferred to demat accounts of eligible investors by November 29.


Click Here To Know All IPO Related News


And finally, the much-awaited listing of its equity shares will take place on November 30, which experts feel is expected to be very strong, given the hefty grey market premium, higher return ratios and gross margins, and strong IPO subscription.


Go Fashion shares are now available at Rs 1,090 in the grey market, translating into a whopping premium of Rs 400 or 58 percent over the expected final issue price of Rs 690 per share, as per the IPO Watch and IPO Central. The grey market is an unofficial trading platform wherein the trading in the IPO shares take place during the period from the announcement of price band till the listing of equity shares on the bourses.


“We believe the company’s core category products, higher gross margins and return ratios are helping get a higher valuation but a 50 percent grey market premium does seem high by any standards. Although the industry is expected to grow but the competition in this segment is also very intense,” said Divam Sharma, Co-founder of Green Portfolio.


Also read - Tarsons Products IPO: Listing on November 26, check the latest grey market premium


Going by such high grey market premium, it does seem that the listing is going to be grand, he feels. But he advised the investors to book listing gains here and then look for a better valuation to enter again.


The Rs 1,014-crore public issue received overwhelming response from investors, subscribing 135.46 times during November 17-22. Non-institutional investors put in bids 262.08 times the portion set aside for them, and the reserved portion of qualified institutional investors was booked 100.73 times, while the retail investors bought shares 49.70 times the reserved portion.


Also read - Star Health IPO shares trade with double-digit premium in grey market

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Moneycontrol News
first published: Nov 25, 2021 07:32 am

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