New Delhi: Shares of Vedant Fashions debuted on a positive note on Wednesday as it got listed at a premium of over 8 percent from its issue price in the stock exchanges.
The shares got listed at Rs 936 apiece on the Bombay Stock Exchange (BSE), thereby registering a gain of 8.08 percent from its offer price of Rs 866.00, while on the National Stock Exchange (NSE), it opened at Rs 935, up 7.97 percent from the issue price.
It further gained from its opening levels and within a few minutes touched a high of Rs 966.35 on the BSE and Rs 973.25 on the NSE.
As per the BSE data, so far, nearly 78 lakh shares of the company have been traded; while on NSE over 2.34 lakh shares have exchanged hands on the BSE.
Notably, the Initial Public Opening (IPO) worth Rs 3,149.14 of Vedant Fashions (VFL) was subscribed seven percent during the first ninety minutes of the issue.
The issue had witnessed bids for 17,39,525 equity shares against an offering of 2,54,55,388 equity shares in the issue.
The issues was entirely an offer for sale (OFS) by the promoters and existing shareholders and the company is selling its shares in the range of Rs 824-866 apiece in the maiden public offering.
Coming to lot size, here an investor can subscribe to the IPO by betting on a lot of 17 shares and in the multiples thereof.
As per the BSE circular, the company had already garnered Rs 945 crore from anchor investors.
Vedant Fahion is a leader in the branded Indian wedding and celebration wear market with a pan India presence.
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