Vedant Fashions IPO listing: Shares make decent debut on bourses; list at 8% premium
Shares of Vedant Fashions, which owns the ethnic wear brand Manyavar, made a decent stock market debut amid volatility in the market.
Shares of Vedant Fashions, which owns the ethnic wear brand Manyavar, made a decent stock market debut amid volatility in the market. Shares of Vedant Fashions were listed at Rs 936 per share on the BSE against issue price of Rs 866 at the upper price band. This was a premium of Rs 70 or 8.08%. On the NSE, shares of Vedant Fashions were listed at 7.97% premium or higher by Rs 69 to RS 935 per share on Wednesday.
Earlier, Zee Business Managing Editor Anil Singhvi has also said that the issue would be listed in the Rs 900-950 range.
See Zee Business Live TV Streaming Below:
The Rs 3,149 crore initial public offering (IPO) of Vedant Fashions Limited closed on February 8, 2022, with 2.57 times subscription. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 7.49 times, while the Non-Institutional Investors' portion and Retail Individual Investors (RIIs) were subscribed 7.07 times and 0.39 times, respectively.
Earlier, market experts and analysts were of the view that shares of Vedant Fashions would be listed at a flat to discounted rates on the exchanges.
"The company’s grey market share price is at par with the upper price band and the ongoing global scenarios will continue to impact the Indian market, and hence the shares are expected to list below the issue price, said Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd.
Likhita Chepa, Senior Research Analyst at CapitalVia Global Research, also had said that the IPO might not generate any listing gain on Wednesday.
"We expect Vedant fashion to list at a discount of 8 to 10 percent, although its GMP is signaling at par listing. It's expensive valuation, impact on its revenue due to the pandemic and 100 percent OFS has already led to tepid response of the investors," highlighted Likhita Chepa.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
Power of Compounding: How many years it will take to reach Rs 2 crore corpus if your monthly SIP is Rs 3,000, Rs 4,000, or Rs 5,000
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
09:54 AM IST