20 Nov , 2021 By : Kanchan Joshi
Go Fashion IPO: After two days of bidding, the public issue worth Rs1,013.61 crore has been subscribed 6.87 times that has gone down well in the grey market. According to market observers, shares of Go Fashion are available at a premium of Rs500 and it has gone up Rs40 after remaining steady for the last two days. They said that such a bullish response by the grey market may impact Go Fashion IPO subscription status on the last date of subscription on Monday, when the market will open after a gap of three-day extended week off.
Go Fashion IPO GMP
As per the market observers, Go Fashion IPO GMP today is Rs500, which is Rs40 higher from its Friday's grey market premium (GMP) of Rs460. Market observers maintained that Go Fashion IPO GMP has gone up today after remaining steady on Wednesday and Thursday. On Wednesday and Thursday, Go Fashion IPO grey market price had remained unchanged at Rs460. They expected this strong performance of Go Fashion shares in the grey market to impact subscription on Monday as a particular section of the IPO investors look at GMP before making any investment decision.
What this Go Fashion grey market premium means?
Market observers said that grey market premium of a public issue reflects expected listing gain from the IPO. As Go Fashion IPO GMP today is Rs500, this means that grey market is expecting its shares to list at around Rs1190 ( Rs690 Rs500), which is around 72 per cent higher from its price band of rs655 to Rs690 per equity share.
Advising investors to subscribe Go Fashion IPO; Nitin Shahi, Executive Director at Findoc said, "Go Fashion is one of the leading companies in women bottom-wear Industry. The company has a well-diversified product portfolio along with the multi-channel pan India distribution network. Moreover, company has a demonstrated track record of strong financial performance. Further, retail women bottom-wear market is a growing market. The share of organized retailing within women’s Apparels has increased from 19 per cent in 2015 to 27 per cent in the year 2020 is expected to reach 42 per cent by fiscal 2025. Hence, the investors may subscribe it with a long-term perspective."
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