Go Fashion Publishes Post-Buyback Public Announcement Following ₹65 Crore Program

Go colors has officially published its post-buyback public announcement on March 02, 2026, confirming the successful completion of its ₹64.99 crore share buyback program. The company fulfilled all regulatory requirements under SEBI Buyback Regulations by publishing the announcement in leading newspapers including Financial Express (English), Makkal Kural (Tamil), and Jansatta (Hindi). Buyback Program Overview The buyback program involved the repurchase of equity shares through the tender offer route using the stock exchange mechanism. NSE Limited served as the designated stock exchange for the transaction, ensuring transparent and efficient execution. Parameter: Details Shares Repurchased: 14,13,000 equity shares Price per Share: ₹460 Total Consideration: ₹64,99,80,000 Face Value: ₹10 per share Record Date: February 09, 2026 Exceptional Market Response The buyback program witnessed remarkable investor participation, demonstrating strong confidence in the company's prospects. The registrar, KFIN Technologies Ltd., processed a total of 6,291 valid bids covering 1,53,27,754 equity shares. Category: Shares Available Valid Bids Shares Tendered Oversubscription General Category: 12,01,050 262 1,44,10,225 12x Small Shareholder Category: 2,11,950 5,945 9,10,598 4.3x Total: 14,13,000 6,207 1,53,20,823 10.84x The overwhelming response resulted in approximately 10.84 times oversubscription, indicating strong shareholder interest in participating in the buyback program. Timeline and Settlement Process The buyback process followed a structured timeline ensuring regulatory compliance and efficient execution. The tendering period commenced on Friday, February 13, 2026, and concluded on Friday, February 20, 2026. Notably, tendering was not permitted on February 19, 2026, due to a SEBI holiday. Settlement of all valid bids was completed by the Indian Clearing Corporation Limited and NSE Clearing Limited on February 27, 2026. The clearing corporations facilitated direct fund payouts to eligible shareholders whose equity shares were accepted under the buyback program. Major Institutional Participation Several prominent institutional investors participated significantly in the buyback program. The acceptance details reveal substantial participation from mutual funds, insurance companies, and foreign institutional investors. Institution: Shares Accepted % of Total Buyback Nippon Life India Trustee Ltd: 2,82,752 20.01% SBI Small Cap Fund: 2,77,110 19.61% SBI Life Insurance Co. Ltd: 1,32,602 9.38% Templeton India Value Fund: 96,418 6.82% Sundaram Mutual Fund: 85,970 6.08% Impact on Capital Structure The buyback program will result in changes to the company's capital structure upon completion of share extinguishment. The paid-up equity share capital will reduce from 5,40,08,984 shares to 5,25,95,984 shares, representing a decrease of 14,13,000 shares. Capital Structure: Pre-Buyback Post-Buyback Paid-up Capital (₹ lakhs): 5,400.89 5,259.59 Number of Shares: 5,40,08,984 5,25,95,984 Promoter Shareholding: 52.79% 54.20% The extinguishment of 14,13,000 equity shares is currently under process and will be completed on or before March 12, 2026. This reduction in share count will enhance the proportionate ownership of remaining shareholders and potentially improve earnings per share metrics. Regulatory Compliance and Management Motilal Oswal Investment Advisors Limited served as the manager to the buyback, facilitating the smooth execution of the program under SEBI regulations. The company has fulfilled all post-buyback disclosure requirements by publishing the public announcement in prescribed newspapers as mandated by regulatory authorities. The Board of Directors, through the Buyback Committee resolution passed on February 27, 2026, has confirmed that all information contained in the post-buyback public announcement is accurate and complete, ensuring full regulatory compliance. Go Colors has announced the appointment of Mr. S Zafir Ahmed as Chief Merchandising Officer in the Senior Management Category, effective March 02, 2026. The appointment was disclosed to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Appointment Details The company formally communicated the appointment to BSE Limited and National Stock Exchange of India Ltd on March 02, 2026. The disclosure was made pursuant to Regulations 16(1)(d) and 30 read with Schedule III of the SEBI Listing Regulations. Parameter Details Position Chief Merchandising Officer Category Senior Management Effective Date March 02, 2026 Employment Type Full-time Term Not applicable (permanent employment) Professional Background Mr. S Zafir Ahmed brings extensive experience to his new role at Go Fashion (India) Limited. He is a senior retail professional with over three decades of experience in merchandising and planning. His career has been marked by leadership positions in reputed retail organizations where he has been instrumental in driving business growth, operational efficiency, and organizational transformation. Key Areas of Expertise Mr. Ahmed's professional expertise encompasses several critical areas of retail operations: Merchandise planning and strategy Assortment management and optimization Space management and allocation Business growth initiatives Operational efficiency improvements Organizational transformation Regulatory Compliance The appointment disclosure was made in compliance with SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company provided comprehensive details as prescribed under the Listing Regulations, ensuring full transparency with stakeholders and regulatory authorities. The announcement was signed by Gayathri Kethar, Company Secretary & Compliance Officer, confirming the company's adherence to corporate governance standards and regulatory requirements. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. 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