The Go Fashion IPO: (Initial Public Offering) is now open for subscription and will be ready for bidding until November 22nd, 2021. Those interested in applying for the $1,013.61 crore public offering are busy analyzing the company’s balance sheet for financial information. There is some positive news for those who are interested in bidding for Go Fashion IPO. According to market experts, Go Fashion shares are currently selling in the grey market at a premium of $560, up to $30 from yesterday’s premium.
As previously stated, the GMP (grey market premium) for the Go Fashion IPO is 560 today, up from 530 yesterday. On Monday, the share price of GO Fashion IPO GMP surged from 430 to 530, a 100 percent increase in the grey market. Market observers anticipate that a significant increase in the Go Fashion IPO grey market premium will elicit a strong response from bidders since some IPO bidders take grey market statistics very seriously.
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As per the advisors, bidders to focus on the company’s financials rather than the grey market premium. “If you pay a premium in a grey market that does not give surety of a listing gain. One should do self-research and must check the company’s financials. The public offering is essentially OFS in character (only 125 crores would come from new issues out of a total of 1013.61), and the valuations are also higher. Due to the recent buzz in the textile sector, a bullish trend in the issue is expected. As a result, rather than relying on the GMP, bidders should carefully examine the company’s balance sheet.”