Go Trend’s share sale through preliminary public providing (IPO) was totally subscribed inside hours of opening, knowledge from Nationwide Inventory Alternate confirmed. Go Trend’s IPO was subscribed 1.31 occasions by 1:12 pm. Go Trend obtained over 1 crore bids for roughly 81 lakh shares on the supply. As many as 82.41 lakh bids had been obtained on the cut-off worth. Retail traders had been seen bidding massive numbers because the portion reserved for them was booked 4.41 occasions whereas Certified Institutional Patrons didn’t place any bids for Go Trend shares. Portion put aside for Non Institutional Traders was booked 7 per cent.
Go Trend is planning to boost Rs 1,014 crore through IPO and has priced the problem in band of Rs 655-690 per share. A retail investor can bid for minimal one lot of 21 shares as much as most of 13 tons. One lot of Go Trend shares within the IPO will price Rs 14,490 on the higher worth band.
Go Trend’s IPO contains recent concern of fairness shares aggregating as much as Rs 125 crore and a proposal on the market (OFS) of as much as 12,878,389 fairness shares by promoters and present shareholders.
Underneath the OFS, PKS Household Belief and VKS Household Belief are going to dump 7.45 lakh fairness shares every, Sequoia Capital India Investments will promote as much as 74.98 lakh shares, India Benefit Fund S4 I’ll divest as much as 33.11 lakh shares and Dynamic India Fund S4 US I’ll promote as much as 5.76 lakh shares.
JM Monetary, DAM Capital Advisors (Previously IDFC Securities) and ICICI Securities are the lead managers to the problem.