Go Fashion share price may list in four digits, say stock market experts
Premium- Go Fashion share price may open in four digits at somewhere around ₹1100 per share levels, believe stock market experts
Go Fashion IPO is going to list today at both NSE and BSE. According to stock market experts, the public issue worth ₹1,013.61 crore may have a magnificent listing today. They said that Go Fashion share price may open in four digits at somewhere around ₹1100 per share levels.
Expecting Go Fashion listing in four digits; Ravi Singhal, Vice Chairman at GCL Securities said, "Go Fashion shares may list in four digits today as the public issue received robust response from the bidders and trend reversal in the primary market indicate strong listing. I am expecting it to list at around ₹1100 to ₹1110 per share levels, delivering around 60 per cent listing gain to the lucky bidders who got company shares through allotment process."
Echoing with Ravi Singhal's views; Abhay Doshi, Founder at UnlistedArena.com said, "Go Fashions IPO got good response. The COVID-19 outbreak impacted the company severely and the focus should now be on the performance post re-opening of economy. The issue looked richly priced, however due to smaller allocation to retail applicants in IPO, it may generate huge fancy on listing. Owing to decent subscription, magnificent listing is expected. In my view, the issue should list somewhere above ₹1100, emanating more than 50-55 per cent gains."
Expecting 50 to 60 per cent listing gain from Go Fashion share price listing; Manoj Dalmia, Founder & Director at Proficient Equities Limited said, "I am expecting Go Fashion share listing in the range of ₹900 to ₹1190 per share levels, delivering around 50 top 60 per cent listing gain to the shareholders. In bull's case, we can see the Go Fashion shares listing up to ₹1190 levels whereas in normal stock market condition, we may see the stock list in 3-digit at around ₹900 levels."
However, there are some analysts who believe recent market selloff may not allow Go Fashion share listing in four digits.
Ravi Singh, Head of Research & Vice President at ShareIndia said, "At current market juncture, when the overall market sentiments are negative, we expect around 30 per cent gain in Go Fashion on the listing day. The IPO may list in the range of ₹850 to ₹900 on the verge of strong textile sector outlook."
What grey market suggests
According to market observers, Go Fashion IPO GMP today is ₹520. This means the grey market is expecting shares of Go Fashion to list around ₹1210 ( ₹690 + ₹520), which is around 75 per cent higher from the upper price band of the IPO.
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As per the custom, IPOs list at BSE and NSE at 10 AM and Go Fashion shares would also become available for traders and investors at NSE and BSE from 10 AM today.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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