Shares of Vedanta Fashion are about to knock in the Indian stock markets today. According to BSE Notice Available on the BSE website, the equity shares of Vedanta Fashion Limited will be listed and admitted for transactions on NSE and BSE in the ‘B’ Group of Securities List in the Special Pre-Open Session (SPOS) on Wednesday, February 16, 2022 Will go According to primary market observers, Vedanta Fashion share price being sold in the gray market 25 premium over its upper price band. However, stock market experts are not impressed by this rise in Gray Market Premium (GMP) and believe that Vedanta Fashion shares may start from ‘flat’ to ‘marginally discounted’ today.
Speaking on Vedanta Fashion’s IPO listing price; Abhay Doshi, Founder, UnlistedArena.com said, “Vedanta Fashion Ltd issue received sluggish response as the issue price was very high. The recent correction in listed stocks and broad market sailing in deep red sea alerted investors The listing should also be in a parallel line as there is hardly anything left on the table for the investors. Expect a flatish listing with a marginal discount.”
Vedanta Fashion shares expected discount; Aayush Aggarwal, Senior Analyst, Swastik Investmart Ltd. said, “Vedanta Fashion is one of the top companies in the Indian wedding and festive wear segment, with its brand Manyavar Mohe. The company’s financials took a hit due to the pandemic, but back to normal. Gaya. H1 of FY22. Vedanta Fashion IPO is at par with GMP upper price band. The ongoing global scenario will continue to impact the Indian market and hence the shares are expected to get listed below its issue price.”
Resonated with Ayush Agarwal’s thoughts; Ravi Singh, Research Head and Vice President, Share India, said, “Vedanta Fashion IPO valuations seem expensive and investors will not have much room. The primary market sentiments have dipped amid a sell-off in the broader market. Hence we at Vedanta Expect the fashion stocks to list at a discounted price of around 3-5 per cent.”
Listing Price Estimated on Vedanta Fashion’s IPO; Manoj Dalmiya, Founder and Director, Profitable Equities Ltd. said, “The company suffered a setback during the pandemic but maintained its profits in line with the top lines. Due to high valuations and 100 per cent OFS, it received weak response from investors and we We are expecting a sluggish start to our shares today.”
Vedanta Fashion IPO Listing: What GMP Indicates
As mentioned above, Vedanta Fashion’s IPO GMP today is 25, which is 23 More Than Your Tomorrow’s GMP 2. Primary market observers are of the opinion that such jump in Vedanta Fashion’s IPO gray market premium is due to change in secondary market sentiment following signs of easing in Russia Ukraine conflict. As Vedanta Fashions IPO GMP today 25, means gray market is expecting Vedanta Fashion shares to be listed around 891 ( 866 + 25), which is about 3 per cent higher than its price band from 824 866 per equity share.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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