Go Fashion Stock Opens with Premium 90% at BSE, NSE

Go Fashion stock made the bumper list on Tuesday. Go Fashion shares opened at Rs 1,316 per share on the Bombay Stock Exchange or BSE, up Rs 626 each or 90.72 per cent from the top end of the IPO price band of Rs 655-690 per share. Shares of Go Fashions are listed at Rs 1,310 on the National Stock Exchange or NSE, an 89.86 percent premium over the higher issue price.

The initial public offering (IPO) of Go Fashion received an overwhelming response from investors when it was opened for subscription. IPO Go Fashion has been subscribed 135.46 times. The portion reserved for non-institutional investors was 262.08 times, and institutional investors who met the requirements were 100.73 times, while retail investors had offered 49.70 times the portion reserved for them.

Regarding the expectation of Go Fashions stock listing, Abhay Doshi, founder, UnlistedArena.com, which is engaged in Pre-IPO & Unlisted Shares said, Go Fashions’ IPO received a good response. The COVID-19 outbreak has had a huge impact on companies and the focus should now be on performance post-reopening the economy. This issue looks expensive, but due to the smaller allocation to retail applicants at the IPO, it can result in a lot of luxuries on the list. Due to decent subscriptions, an excellent roster is expected.”