22 Nov , 2021 By : Kanchan Joshi
Go Fashion IPO (Initial Public Offering) got subscribed 6.87 times after two days of bidding. Bidding for Go Fashion IPO is going to end today and grey market has started giving signals about the public issue worth Rs1,013.61 crore. As per the market observers, Go Fashion shares are available at a premium of Rs470 in the grey market today, which is quite promising as the public offer is priced at Rs655 to Rs690 per equity share.
Go Fashion IPO GMP
According to market observers, Go Fashion IPO grey market premium (GMP) today is Rs470, which is Rs30 down from its yesterday's grey market premium of rs500. They said that such a fall in the current nosediving market is quite expected. They said that Go Fashion IPO grey market premium has been oscillating around Rs500 for last one week and that reflects strong sentiment among the investors in regard to the public issue. They expected this to translate in huge rise in subscription level of the IPO.
What this GMP mean?
Market observers said that grey market premium reflects an expected listing gain from the public issue. As Go Fashion IPO GMP today is Rs470, it means that grey market is expecting the public issue to list at around Rs1160 ( Rs690 - Rs470), which is around 70 per cent higher from its upper price band.
Go Fashion IPO subscribe or not?
Giving 'subscribe' tag to 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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