Traders continued to pile into the Rs 1,013.6-crore preliminary public providing of Go Trend (India) Ltd. as remaining bidding for shares resumed on Monday.
The problem was subscribed almost 2.5 and 6.9 occasions on its first and second day, respectively. The proprietor of ladies’s backside put on model Go Colours is promoting shares at Rs 655-690 apiece.
The IPO contains a contemporary subject of fairness shares price Rs 125 crore and a suggestion on the market price Rs 888.6 crore, through which promoters—PKS Household Belief and VKS Household Belief—will offload 7.45 lakh fairness shares every.
After the sale, promoter stake would fall from 57.47% to 52.78%. Go Trend is looking for a market worth of Rs 3,727 crore on the higher finish of the value band.
The corporate plans to make use of Rs 33.7 crore of the IPO proceeds to fund rollout of 120 model retailers, whereas Rs 61.4 crore can be utilised for working capital necessities. The remaining will probably be used for common company functions.
Subscription Particulars: Day 3
The IPO was subscribed 46.99 occasions as of two p.m. on Nov. 22.
Institutional traders: 21.66 occasions.
Non-institutional traders: 100.23 occasions.
Retail traders: 43.13 occasions.