Getty ImagesNew Delhi: Vedant Fashions made a tepid debut on Dalal Street as the Indian celebration wear player listed at Rs 936 on BSE, a premium of 8 per cent, over its issue price of Rs 866. On the National Stock Exchange (NSE), the stock listed at Rs 935.
Ahead of the listing, Vedant Fashions was trading at a premium of Rs 15-20 in the grey market, merely 2 per cent over its issue price.
The IPO of Vedant Fashions was open for subscription between February 4-8. The company had sold its shares in the price band of Rs 824-866 apiece.
It has raised Rs 3,149.19 crore from the initial stake sale, which was entirely an offer for sale from the promoters and existing shareholders of the company.
The issue was subscribed only 2.57 times, thanks to high interest from institutional buyers, whose quota was subscribed 7.5 times. The HNI portion barely sailed through, whereas the retail allocation was subscribed only 39 per cent.
Vedant Fashions is a leading player in the Indian celebration wear market and enjoys a strong market position. It offers a wide spectrum of products under reputed brands like Manyavar, Mohey, Mebaz, Manthan, and Twamev.
Ahead of the listing, Vedant Fashions was trading at a premium of Rs 15-20 in the grey market, merely 2 per cent over its issue price.
The IPO of Vedant Fashions was open for subscription between February 4-8. The company had sold its shares in the price band of Rs 824-866 apiece.
It has raised Rs 3,149.19 crore from the initial stake sale, which was entirely an offer for sale from the promoters and existing shareholders of the company.
The issue was subscribed only 2.57 times, thanks to high interest from institutional buyers, whose quota was subscribed 7.5 times. The HNI portion barely sailed through, whereas the retail allocation was subscribed only 39 per cent.
Vedant Fashions is a leading player in the Indian celebration wear market and enjoys a strong market position. It offers a wide spectrum of products under reputed brands like Manyavar, Mohey, Mebaz, Manthan, and Twamev.
Pick the best companies to invest
BECOME AN ETPRIME MEMBERRead More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by