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Go Fashion has made a great debut on the exchange and is listed at a 90% premium.Exceeding expectations of Anil Simbi

Go Fashion (India) made a great debut on an exchange that exceeded the expectations of Zee Business Editor-in-Chief Anil Singhvi and market analysts.

The company’s shares were listed on Tuesday at BSE and NSE with a premium of over 90% higher at Rs 1316 and Rs 1310 per share, respectively. Within minutes of listing, BSE hit a record high of Rs 1341 per share and NSE reached a record high of Rs 1339 per share.

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Prior to listing, the editor expects to list about 1150-1200 rupees per share against an issue price of 690 rupees per share at the upper limit of price-earnings ratio, and investors will have a tray of 1000 rupees per share. I suggested that you should hold at the ring stop loss. share.

Immediately after the stock went public, profits were recorded, and in contrast to the 1.29% rise in S & P BSE Senssex, BSE traded flat at around 10:09 am with a negative bias.

Santosh Meena, Head of Research at Swastika Investmart Ltd, said: The company has a strong management team, a mixed financial bag, and is expected to work. “

According to market analysts, active investors who have been allocated can set a stop loss of 1000 rupees and hold shares in the long run, safe investors will make a profit and more. You can wait for new purchase opportunities at a lower level. After listing on Go Fashion.

The three-day initial public offering began between 17 and 22 November 2021, and the issue was oversubscribed 136 times during the period. The IPO has received a bid for 1,09,44,34,026 shares for an issue size of 80,79,491.

The company will use the net revenue from issuance to fund the development of 120 new exclusive brand stores to support working capital requirements and general corporate objectives.

(Disclaimer: The views / suggestions / advice presented here in this article are by investment experts only. ZeeBusiness advises readers to consult an investment adviser before making financial decisions. It is recommended.)



Go Fashion has made a great debut on the exchange and is listed at a 90% premium.Exceeding expectations of Anil Simbi

Source link Go Fashion has made a great debut on the exchange and is listed at a 90% premium.Exceeding expectations of Anil Simbi

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