Go Trend (India) Restricted, a ladies’s bottom-wear model in India, plans to open its Preliminary Public Providing (IPO) on November 17, 2021. The worth band of the provide has been fastened at Rs 655 to Rs 690 per fairness share of the face of Rs 10 every. Bids will be made for at least 21 fairness shares and in multiples of 21 fairness shares, thereafter.
The web proceeds from the IPO might be used for the rollout of 120 new EBOs, working capital necessities, and common company functions.
The provide consists of fairness shares of the face worth of Rs 10 every of Go Trend (India), comprising of a recent situation of fairness shares by the corporate of Rs 125 crore and a proposal on the market by PKS Household Belief of as much as 745,676 fairness shares; VKS Household Belief of as much as 745,676 fairness shares; Sequoia Capital India Investments IV of as much as 7,498,875 fairness shares; India Benefit Fund S4 I of as much as 3,311,478 fairness shares; and Dynamic India Fund S4 US I of as much as 576,684 fairness shares.
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The provide is being made by way of the book-building course of, during which not lower than 75 per cent of the provide might be accessible for allocation to Certified Institutional Patrons (QIBs), offered the corporate and the promoting shareholders allocate as much as 60 per cent of the QIB portion to anchor traders.
Additional, 5 per cent of the QIB portion (excluding the anchor investor portion) might be accessible for allocation on a proportionate foundation solely to mutual funds, offered legitimate bids are obtained at or above the provide worth.
The rest might be accessible for allocation on a proportionate foundation to all QIBs (aside from anchor traders), together with mutual funds. If not less than 75 per cent of the provide cannot be allotted to QIBs, the whole utility cash might be refunded.
Additional, no more than 15 per cent of the provide might be accessible for allocation to non-institutional traders and less than 10 per cent of the provide might be accessible for allocation to retail particular person traders.
All bidders (besides anchor traders) will take part within the provide solely by way of the appliance supported by the blocked quantity (ASBA) course of and can present particulars of their respective checking account (together with UPI ID for retail particular person traders utilizing the UPI mechanism). In it, the bid quantity might be blocked by the self-certified syndicate banks or the sponsor financial institution.
JM Monetary Restricted, DAM Capital Advisors Restricted (Previously IDFC Securities Restricted) and ICICI Securities Restricted are the e book working lead managers to the provide. Go Trend holds a market share of round 8 per cent within the branded ladies’s bottom-wear market in Fiscal 2020, the corporate stated.
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