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The initial public offering (IPO) of Go Fashion Ltd, which owns women's wear brand Go Colors, will open for public subscription on 17 November and conclude on 22 November, according to the red herring prospectus (DRHP) filed with Sebi.
The net proceeds from the IPO will be used to fund the roll out of 120 new exclusive brand outlets, to support working capital requirements and general corporate purposes.
The listing on the exchanges will likely take place on or around 30 November, with the final basis of allotment on 25 November.
The ₹800-crore initial share-sale comprises fresh issue of equity shares aggregating up to ₹125 crore and an offer-for-sale (OFS) of up to 12,878,389 equity shares by promoter and existing shareholders.
Under the OFS, PKS Family Trust and VKS Family Trust are going to offload 7.45 lakh equity shares each, Sequoia Capital India Investments will sell up to 74.98 lakh shares, India Advantage Fund S4 I will divest up to 33.11 lakh shares and Dynamic India Fund S4 US I will sell up to 5.76 lakh shares.
Currently, PKS Family and VKS Family Trust hold 28.74% stake each in the company, Sequoia Capital holds 28.73% stake, India Advantage Fund has 12.69% stake and Dynamic India Fund owns 1.1% .
Go Fashion is engaged in the development, design, sourcing, marketing and retailing of a range of women's bottom-wear products under the brand, 'Go Colors'. It is among the few apparel companies in India to have identified the market opportunity in women's bottom-wear and have acted as a 'category creator' for bottom-wear.
Its bottom-wear products, including churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers and jeggings, are sold across multiple categories such as ethnic wear, western wear, fusion wear, athleisure, denims and plus sizes.
JM Financial, DAM Capital Advisors (Formerly IDFC Securities) and ICICI Securities are the lead managers to the issue. The equity shares will be listed on BSE and NSE.
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