Go Fashion India basks in listing glory. What next for investors?
Post the steep run-up, the Go Fashion India stock has turned expensive. This is at a steep premium to comparable peer TCNS Clothing
December 02, 2021 / 03:20 PM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
There was huge demand for Go Fashion India Ltd’s (GFIL; CMP: Rs 1,253; Market Capitalisation: Rs 6,765 crore) initial public offering (IPO) and the issue was subscribed 135 times.
A decent market share in the women’s bottom-wear category, strong margin profile, entry into new categories and attractive valuations were the key positives for the company. We had recommended a ‘subscribe’ to the issue.
Though market sentiments were weak, the stock had a stellar listing. It closed at Rs 1,253 -- a...