November 17, 2021 - November 22, 2021

GoColors IPO Basis of Allotment


GO FASHION (INDIA) LIMITED

Our Company was incorporated on September 9, 2010 as a private limited company under the Companies Act, 1956, and was granted a certificate of incorporation by Registrar of Companies, Tamil Nadu at Chennai ("RoC"). The name of our Company was subsequently changed to Go Fashion (India) Limited upon conversion to a public limited company pursuant to the special resolution dated July 1, 2021 passed by the shareholders of our Company and a fresh certificate of incorporation was issued by the RoC on July 12, 2021. For details in relation to the changes in the name and registered office address of our Company, see 'History and Certain Corporate Matters' on page 188 of the prospectus dated November 23, 2021 ('Prospectus'),

Registered Office: Salhak Center, 5th Floor, New No 4 Old No, 144/2, Nungambakkam High Road, Chennai, Tamil Nadu - 600 034; Contact Person Gayathri Venkatesan, Company Secretary and Compliance Officer. Tel.: +91 44 4211 1777;
E-mail companysecretary@gocolors.com Website: www.gocolors.com; Corporate Identity Number: U17291TN2010PLC077303.

PROMOTERS OF OUR COMPANY: PRAKASH KUMAR SARAOGI, GAUTAM SARAOGI, RAHUL SARAOGI, PKS FAMILY TRUST AND VKS FAMILY TRUST

Our Company has filed the Prospectus dated November 23, 2021 with the Registrar of Companies and the Equity Shares are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and the trading will commence on Tuesday, November 30, 2021.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFERING OF 14,689,983 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITY SHARES") OF GO FASHION (INDIA) LIMITED (OUR "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 690 PER EQUITY SHARE INCLUDING A SECURITIES PREMIUM OF RS. 680 PER EQUITY SHARE (THE "OFFER PRICE") AGGREGATING TO RS. 10,136.09 MILLION (THE "OFFER"). THE OFFER COMPRISES OF A FRESH ISSUE OF 1,811,594 EQUITY SHARES BY OUR COMPANY AGGREGATING TO RS. 1,250 MILLION (THE "FRESH ISSUE") AND AN OFFER FOR SALE BY PKS FAMILY TRUST OF 745,676 EQUITY SHARES AGGREGATING TO RS. 514.52 MILLION, VKS FAMILY TRUST OF 745,676 EQUITY SHARES AGGREGATING TO RS. 514.52 MILLION (COLLECTIVELY REFERRED TO AS THE "PROMOTER SELLING SHAREHOLDERS") AND BY SEQUOIA CAPITAL INDIA INVESTMENTS IV OF 7,498,875 EQUITY SHARES AGGREGATING TO RS. 5,174,22 MILLION. BY INDIA ADVANTAGE FUND S4 I OF 3,311,478 EQUITY SHARES AGGREGATING TO RS. 2,284.92 MILLION AND BY DYNAMIC INDIA FUND S4 US I OF 576,684 EQUITY SHARES AGGREGATING TO RS. 397.91 MILLION (COLLECTIVELY REFERRED TO AS "INVESTOR SELLING SHAREHOLDERS" AND TOGETHER WITH THE PROMOTER SELLING SHAREHOLDERS, THE "SELLING SHAREHOLDERS") ("THE OFFER FOR SALE"). THE OFFER SHALL CONSTITUTE 27.20% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS M0. THE OFFER PRICE IS 69 TIMES THE FACE VALUE OF THE EQUITY SHARES.

OFFER PRICE: RS. 690 PER EQUITY SHARE OF FACE VALUE OF RS. 10 EACH
ANCHOR INVESTOR OFFER PRICE: RS. 690 PER EQUITY SHARE
THE OFFER PRICE IS 69 TIMES THE FACE VALUE

	Risks to Investors:
•	The Price/Earnings ratio based on diluted EPS for Fiscal 2021 for the Company is not ascertainable as the EPS is negative. Our Company has incurred losses in Fiscal 2021.
•	The 3 BRLMs associated with the Offer have handled 53 public issues in the past 3 years, out of which 17 issues closed below the offer price on the listing date.
•	Average cost of acquisition of Equity Shares held by the Selling Shareholders ranges from Nil per Equity Share to Rs. 168.33 per Equity Share and Offer Price at upper end of the Price Band is Rs. 690.
•	Weighted Average Return on Net Worth for Fiscals 2021, 2020, 2019 is 7.76%.

BID/ OFFER PERIOD: OPENED ON: WEDNESDAY, NOVEMBER 17, 2021
CLOSED ON : MONDAY, NOVEMBER 22, 2021
ANCHOR INVESTOR BIDDING DATE WAS: TUESDAY, NOVEMBER 16, 2021

The Offer was being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the 'SCRR'), read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations"). The Offer was made through the Book Building Process, in compliance with Regulation 6(2) of SEBI ICDR Regulations, wherein not less than 75% of the Offer was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the 'QIB Portion'), provided that our Company and the Selling Shareholders, in consultation with the BRLMs, allocated up to 60% of the QIB Portion to Anchor Investors and the basis of such allocation was on a discretionary basis by the Company in consultation with the BRLMs (the "Anchor Investor Portion"), of which one-third was reserved for the domestic Mutual Funds, subject to valid Bids having been received from the domestic Mutual Funds at or above the price at which allocation was made to Anchor Investors ("Anchor Investor Allocation Price"). Further, 5% of the QIB Portion (excluding the Anchor Investor Portion) was made available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids having been received at or above the Offer Price, and the remainder of the QIB Portion was made available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Offer Price, Further, not more than 15% of the Offer was made available for allocation on a proportionate basis to Non-Institutional Investors ("Non-Institutional Category") and not more than 10% of the Offer was made available for allocation to Retail Individual Investors ("Retail Category"), in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received from them at or above the Offer Price All Bidders (except Anchor Investors) were required to mandatorily participate in this Offer only through the Application Supported by Blocked Amount ("ASBA") process, and were required to provide details of their respective bank account (including UPI ID for Retail Individual Investors using UPI Mechanism) in which the Bid Amount were blocked by the Self Certified Syndicate Banks ("SCSBs") or the Sponsor Bank. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process For details, see ‘Offer Procedure' on page 371 of the Prospectus.

The bidding for Anchor Investor opened and closed on November 16, 2021. The company received 33 applications from 22 anchor investors for 6,900,873 equity shares. The Anchor investor price was finalized at 1690 per Equity Share. A total of 6,610,492 shares were allocated under the Anchor Investor Portion aggregating to Rs. 4,561,239,480.00.

The Offer received 2,550,348 applications for 1,084,011,600 Equity Shares (prior to technical rejections) resulting in 73.79 times subscription The details of the applications received in the Offer from various categories are as under: (before technical rejections):

Sr.No.	Category	No. of Applications Applied	No. of Equity Shares	Equity Shares Reserved as per Prospectus	No. of times Subscribed	Amount (Rs.)
A.	Retail Individual Investors	2,539,452	64,474,557	1,468,998	43.89	44,482,191,693
B.	Non-Institutional Investors	10,682	570,730,062	2,203,497	259.01	393,800,412,411
C.	Qualified Institutional Bidders (excluding Anchor Investors)	181	441,906,108	4,406,996	100.27	304,915,214,520
D.	Anchor Investors	33	6,900,873	6,610,492	1.04	4,761,602,370
	Total	2,550,348	1,084,011,600	1,46,89,983	73.79	747,959,420,994

Final Demand

A summary of the final demand as at different Bid prices is as under:

Sr. No.	Bid price	No. of Equity Shares	% to Total	Cumulative Total	Cumulative % of Total
1	655	545,958	0.05	545,958	0.05
2	656	41,202	0.00	587,160	0.05
3	657	8,232	0.00	595,392	0.05
4	658	4,074	0.00	599,466	0.05
5	659	3,339	0.00	602,805	0.05
6	660	118,251	0.01	721,056	0.07
7	661	3,045	0.00	724,101	0.07
8	662	4,515	0.00	728,616	0.07
9	663	2,037	0.00	730,653	0.07
10	664	567	0.00	731,220	0.07
11	665	35,532	0.00	766,752	0.07
12	666	13,524	0.00	780,276	0.07
13	667	2,058	0.00	782,334	0.07
14	668	1,134	0.00	783,468	0.07
15	669	1,974	0.00	785,442	0.07
16	670	152,481	0.01	937,923	0.09
17	671	3,318	0.00	941,241	0.09
18	672	8,547	0.00	949,788	0.09
19	673	8,862	0.00	958,650	0.09
20	674	1,197	0.00	959,847	0.09
21	675	118,272	0.01	1,078,119	0.10
22	676	4,305	0.00	1,082,424	0.10
23	677	3,717	0.00	1,086,141	0.10
24	678	4,305	0.00	1,090,446	0.10
25	679	2,457	0.00	1,092,903	0.10
26	680	154,581	0.01	1,247,484	0.11
27	681	6,216	0.00	1,253,700	0.11
28	682	4,074	0.00	1,257,774	0.11
29	683	2,667	0.00	1,260,441	0.11
30	684	3,444	0.00	1,263,885	0.11
31	685	64,512	0.01	1,328,397	0.12
32	686	5,061	0.00	1,333,458	0.12
33	687	12,159	0.00	1,345,617	0.12
34	688	129,801	0.01	1,475,418	0.13
35	689	171,948	0.02	1,647,366	0.15
36	690	1,036,974,813	94.28	1,038,622,179	94.43
37	CUTOFF	61,241,775	5.57	1,099,863,954	100.00
	TOTAL	1,099,863,954	100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being the NSE on November 25, 2021.

A. Allotment to Retail Individual Bidders (after technical rejections)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs. 690 per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 42.2627 times. The total number of Equity Shares Allotted in Retail Portion is 1,468,998 Equity Shares to 69,952 successful Retail Individual Bidder. The category-wise details of the Basis of Allotment are as under:

Category	No. of Applications Received	%of Total	Total No. of Equity Shares Applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares Allotted
21	2,276,732	92.93	47,811,372	77.01	21	91:3187	1,365,189
42	93,631	3.82	3,932,502	6.33	21	91:3187	56,133
63	27,514	1.12	1,733,382	2.79	21	1:35	16,506
84	11,651	0.48	978,684	1.58	21	1:35	6,993
105	10,365	0.42	1,088,325	1.75	21	1:35	6,216
126	4,100	0.17	516,600	0.83	21	1:35	2,457
147	4,250	0.17	624,750	1.01	21	1:35	2,541
168	1,386	0.06	232,848	0.38	21	1:35	840
189	964	0.04	182,196	0.29	21	1:35	567
210	3,508	0.14	736,680	1.19	21	1:35	2,100
231	799	0.03	184,569	0.30	21	1:35	483
252	1,054	0.04	265,608	0.43	21	1:35	630
273	13,906	0.57	3,796,338	6.11	21	1:35	8,337
					1	6:4943	6
TOTAL	2,449,860	100.00	62,083,854	100.00			1,468,998

Please Note: 1 additional Share shall be allotted to 6 Allottees from amongst 4.943 Successful Applicants from the categories 42-273 (i.e, excluding successful applicants from Category 21) in the ratio of 6:4943

B. Allotment to Non-Institutional Bidders (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Bidders, who have bid at the Offer Price of Rs. 690 per Equity Share or above, was finalized in consultation with the NSE. The Non-Institutional Portion has been subscribed to the extent of 257.2276 times. The total number of Equity Shares Allotted in this category is 2,203,497 Equity Shares to 4,338 successful Non- Institutional Bidder. The category-wise details of the Basis of Allotment are as under: (Sample)

Category	No. of Applications Received	%of Total	Total No. of Equity Shares Applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares Allotted
294	2,002	19.36	588,588	0.10	21	109 2002	2,289
315	690	6.67	217,350	0.04	21	4:69	840
336	139	1.34	46,704	0.01	21	9:139	189
357	119	1.15	42,483	0.01	21	8:119	168
378	89	0.86	33,642	0.01	21	6:89	126
966	6	0.06	5,796	0.00	21	1:6	21
987	14	0.14	13,818	0.00	21	3:14	63
1008	48	0.46	48,384	0.01	21	3:16	189
956,508	1	0.01	956,508	0.17	3,719	1:1	3,719
970,998	1	0.01	970,998	0.17	3,775	1:1	3,775
1,013,880	1	0.01	1,013,880	0.18	3,942	1:1	3,942
1,014,489	2	0.02	2,028,978	0.36	3,944	1:1	7,888
2,913,120	1	0.01	2,913,120	0.51	11,325	1:1	11,325
3,043,320	1	0.01	3,043,320	0.54	11,831	1:1	11,831
3,115,770	1	0.01	3,115,770	0.55	12,113	1:1	12,113
3,188,388	1	0.01	3,188,388	0.56	12,395	1:1	12,395
3,405,780	1	0.01	3,405,780	0.60	13240	1:1	13,240
3,623,172	16	0.15	57,970,752	10.23	14085	1:1	225,360
3,652,173	5	0.05	18,260,865	3.22	14199	1:1	70,995
3,672,480	1	0.01	3,672,480	0.65	14281	1:1	14,281

C. Allotment to QIBs (Excluding Anchor Investors)

Allotment to QIBs, who have Bid at the Offer Price of Rs. 690 per Equity Share or above, has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 100.2738 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e., 220,350 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e., 4,186.646 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 4,406,996 Equity Shares, which were allotted to 181 successful QIB Bidders. The category-wise details of the Basis of Al lotment are as under:

Category	FIs/Banks	FIIs/FPIs	IC	MFs	OTHs	Total
QIB	1,342,764	1,197,492	239,851	514,605	1,112,284	4,406,996

D. Allotment to Anchor Investors

The Company and the Selling Shareholders, in consultation with the BRLMs, have allocated 6,610,492 Equity Shares to 22 Anchor Investors (through 33 Applications) at the Anchor Investor Offer Price of Rs. 690 per Equity Share in accordance with the SEBI Regulations This represents 60% of the QIB Portion.

Category	MFs	ICs	AIF's	FPI/Flls	Total
Anchor	2,204,797	289,842	202,881	3,912,972	6,610,492

The Board of Directors of our Company on November 26, 2021 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful Bidders The Allotment Advice-cum-refund Intimations and/or notices are being emailed or dispatched to the email id or the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Offer Account have been issued on November 25, 2021 and payment to non-Syndicate brokers have been issued on November 26, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on November 26, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing application with NSE and BSE on November 29, 2021. The Company has received listing and trading approval from NSE and BSE and the trading will commence on November 30, 2021.

All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus. Percentage figures have been rounded off to two decimal places.

INVESTORS PLEASE NOTE

The details of the allotment has been hosted on the website of the Registrar to the Offer, KFin Technologies Private Limited at www.kfintech.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the first/ sole Bidder, Bid cum Application Form number. Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:


KFin Technologies Private Limited
(Formerly known as Karvy Fintech Private Limited)
Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally, Hyderabad, Rangareddi - 500 032, Telangana, India.
Tel: +91 40 6716 2222
E-mail gofashion.ipo@kfintech.com
Investor grievance e-mail einward.ris@kfintech.com
Website: www.kfintech.com
Contact person: M. Murali Knshna
SEBI registration number: INR000000221


	For GO FASHION (INDIA) LIMITED
	On behalf of the Board of Directors
Place: Chennai	Sd/-
Date: November 29, 2021	Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF GO FASHION (INDIA) LIMITED.

GO FASHION (INDIA) LIMITED has filed the Prospectus with RoC on November 23, 2021. The Prospectus is available on the website of SEBI at www.sebi.gov.in , websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com , respectively, and is available on the websites of the BRLMs i.e. JM Financial Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited) and ICICI Securities Limited at www.jmfl.com , www.damcapital.in and www.icicisecurities.com, respectively. Bidders should note that investment in equity shares Involves a high degree of risk and for details relating to the same, please see the section entitled 'Risk Factors' on page 22 of the Prospectus.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act, "Rule 144A") in transactions exempt from, or not subject to, registration requirements of the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulations under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made There will be no public offering of the Equity Shares in the United States.

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