Vedanta Fashion, which owns ethnic wear brand Manyavar, is getting listed on the NSE on Wednesday after its completion. 3,149 crore offered for sale.
After two days of slow response from investors, Vedanta Fashion’s IPO has garnered some interest on the last day of subscriptions. The issue was subscribed 2.5 times on the last day of subscription.
As per data available with BSE, the IPO received bids for 6,53,72,718 shares, while BSE had 2,54,55,388 shares offered.
As per the clause, retail investor interest remained muted for three days and the retail segment got just 31% subscription, while the Qualified Institutional Buyer (QIB) quota was subscribed 7.49 times. Non-institutional investors also got subscribed 1.07 times.
Issue with price band of 824-866 per share, expiring on February 8. At the upper end of the price band, Vedanta Fashion Market Cap is around 21,000 crores.
the company had acquired 945 crore from anchor investors, ahead of its offering.
According to market watchers, Vedanta Fashions shares are placing a flat and even a downside order. 2 GMP (Grey Market Premium) today.
The public issue is purely an offer for sale of 36,364,838 equity shares by the promoter and existing shareholders. the company will raise 3,149 crore on the upper price band through IPO.
Vedanta Fashion is one of the largest companies in India in the men’s wedding and celebration wear segment. The company’s flagship brand ‘Manyavar’ is a category leader in the branded wedding and celebration wear market with a pan India presence. The company’s other brands include Tvmev, Manthan, Mohe and Mebaaz.
As of September 2021, the company has an extensive retail network with 546 exclusive brand outlets (EBOs), including 58 shop-in-shops globally, including 11 overseas EBOs in the United States, Canada and the United Arab Emirates. Which is a big Indian country. Migrant
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