Go Fashion slips 5% after multiple block deals

Go Fashion share price: Shares of Go Fashion, which owns women's wear brand Go Colours, slipped as much as 5.07 per cent to Rs 1,133.30 apiece on the BSE in the opening trade as multiple block deals took place in the stock. As per Zee Business Research, around 12 per cent of equity changed hands, and there were multiple deals for 65.13 lakh company shares.

Earlier, Zee Business Research reported that Sequoia Capital was expected to sell 55 lakh company shares or an entire 10.18 per cent stake, via a block deal today. The deal value stands at around Rs 625 crore, the report added. The floor price has been set at Rs 1,135 apiece.

The stock ended at Rs 1,136.10, down 4.85 per cent on the BSE.

Go Fashion made its stock market debut in November 2021. The scrip was listed at an impressive 90 per cent premium over the issue price of Rs 690 per share. It opened at Rs 1,316 on the BSE and at Rs 1,310 on the National Stock Exchange. The maiden public offer of the clothing operator had seen tremendous response from investors, as the offer was subscribed 135.46 times.

Ahead of its IPO, Go Fashion had raised a little over Rs 456 crore from anchor investors.