Go Fashion (India) Ltd IPO

Go Fashion, the company which owns women’s bottom-wear brand Go Colors, is set to open for initial public offering (IPO) subscription on November 17, 2021 and close on November 22, 2021. The company has fixed the price band at Rs 655 to Rs 690 per equity share.  

The company plans to raise Rs 1013.61 crore through the IPO for various funding purposes. The IPO comprises of fresh issue of equity shares worth Rs 125 crore and Offer For Sale of up to 1,28,78,389 equity shares. The face value of the share is Rs 10. 

Company Summary

Go Fashions is engaged in development, design, sourcing, marketing and retailing a range of women’s bottom-wear products under the brand, ‘Go Colors’. It is one of the largest women’s bottom-wear brands in India, with a market share of approximately 8% in the branded women’s bottom-wear market in fiscal 2020, according to Technopak report.

They sell a wide range of clothing products and has a plethora of dresses which includes churidars, leggings, dhotis, harem pants, patiala, palazzos, culottes, pants, trousers and jeggings, that are sold across multiple categories such as ethnic wear, western wear, fusion wear, athleisure, denims, plus sizes and girls wear making its portfolio ‘universal’ and for every occasion.

The company has 450 exclusive brand outlets (EBOs) across India as of end of March 2021. Among them, there are 15 kiosks operated on a “company owned and company operated” (“COCO”) model and 11 franchise stores. 

The company’s distribution channels include large format stores (“LFSs”) such as Reliance Retail Limited, Central, Unlimited, Globus Stores Private Limited and Spencer’s Retail among others. Their products are sold through their own website and also online marketplaces. 

The company manages their inventory and logistics as well as their entire supply chain for all its channels from the company’s 99,100 square foot warehouse in Tirupur, Tamil  Nadu. 

Company Strength

  • One of the largest women’s bottom-wear brand in India with strong presence across the country
  • Well-diversified product portfolio and first mover advantage
  • Multi-channel pan-India distribution network with a focus on EBOs 
  • Strong unit economics with efficient operating model
  • Extensive procurement base with highly efficient and technology-driven supply chain management
  • In-house expertise in developing and designing products 
  • Demonstrated track record of strong financial and operating performance

Company Financial


For the year/period ended (Rs in crore)




Total Assets




Total Revenue




Profit After Tax




Company Promoters

Prakash Kumar Saraogi, Gautam Saraogi, Rahul Saraogi, PKS Family Trust And VKS Family Trust are the promoters of the company.

Purpose of the IPO

The net proceeds from the fresh issue of the IPO will be utilized for the following purposes,

  • The company will use the proceeds for opening 120 new exclusive branded outlets (EBOs) aggregating to Rs 33.734 crore.
  • To fund its working capital requirement amounting to Rs 61.398 crore. 
  • General corporate purposes

The selling shareholders will be entitled to its respective portion of the proceeds from the Offer For Sale after deducting its proportion of the offer expenses and relevant taxes. The company will not receive any proceeds from the Offer For Sale and the proceeds received from the Offer for Sale will not form part of the net proceeds.

IPO Details

IPO Opening Date

November 17, 2021

IPO Closing Date

November 22, 2021

Issue Type

Book Built Issue IPO

Face Value

Rs 10 per equity share

IPO Price

Rs 655 to Rs 690 per equity share

Market Lot


Minimum Order Quantity


Listing At


IPO Lot Size




Amount (Cut-off)




Rs 14,490




Rs 188,370

IPO Allotment ​Details​

Go Fashions IPO allotment date is Nov 25, 2021, and the expected return of refund is on Nov 26, 2021

You can check your allotment in BSE or KFintech