Go Fashion (India) IPO - Listing Day Performance
Go Fashion (India) had a strong listing on 30th November and listed at a premium of 89.86%, and closed the day well above the IPO price, although tad below the listing price.
While the stock did show a sharp listing bounce during the day, it failed to hold on to higher levels.
With overall subscription of 135.46X and stable trading interest in the GMP market, the listing was expected to be strong. Here is the Go Fashion (India) listing story on 30-Nov.
Check - Grey Market Premium of Go Fashion India Ltd IPO
The IPO price was fixed at the upper end of the band at Rs.690 considering the 135.46X subscription. The price band for the IPO was Rs.655 to Rs.690.
On 30th Nov, the stock of Go Fashion (India) listed on the NSE at a price of Rs.1,310, a premium of 89.86% above the issue price of Rs.690. On the BSE also, the stock listed at Rs.1,316 a premium of 90.72% over the issue price.
On the NSE, Go Fashion (India) closed on 30-Nov at a price of Rs.1,250.30, a first day closing premium of 81.20% over the issue price. On the BSE, the stock closed at Rs.1,252.60, a first day closing premium of 81.54% over the issue price.
On both the exchanges, the stock not only listed above the IPO issue price but closed Day-1 at a substantial premium to IPO.
On Day-1 of listing, Go Fashion (India) IPO touched a high of Rs.1,339.90 on the NSE and a low of Rs.1,143.10. The premium held through the day although it did taper towards the end of the day.
On Day-1 of listing, the Go Fashion (India) stock traded a total of 175.48 lakh shares on NSE amounting to value of Rs.2,203.02 crore. On 30-Nov, Go Fashion was the 10th most active share on NSE by traded value.
On the BSE, Go Fashion (India) touched a high of Rs.1,341 and a low of Rs.1,144.15. On BSE, the stock traded a total of 10.39 lakh shares amounting to value of Rs.130.46 crore. It was the 3rd most active share on the BSE in terms of trading value.
At the close of Day-1 of listing, Go Fashion (India) had a market capitalization of Rs.6,765.17 crore with free-float market cap of Rs.1,420.68 crore.
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