Vedant Fashions is likely to announce its share allotment on Friday and investors can check their status on the issue's registrar as well as BSE. Here's how you can check the Vedant Fashions' allotment status.
Vedant Fashions, which owns some of the most popular fashion brands in the country, closed its public issue on Tuesday. The company is likely to announce its share allotment on Friday and investors can check their status on the issue's registrar Link Intime as well as BSE. The status will only appear if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.
Here's how you can check the allotment status of the Vedant Fashion IPO:
Through the website of registrar - KFintech
1) Visit the registrar's website
2) Select IPO name from the dropdown
3) Enter Application Number or DP ID/Client ID or PAN
4) In the case of application number, select application type (ASBA or NON-ASBA) and 'Enter Application Number'. In the case of DPID/Client ID, select Depository "NSDL or CDSL" and enter "DP ID/Client ID".
5) Enter 'Captcha' and submit
On BSE:
1) Visit the website: https://www.bseindia.com/investors/appli_check.aspx.
2) Select ‘Equity’ and then from the dropdown, select issue name
3) Enter your Application Number and PAN Card number
4) Click on the "Search" button
Vedant Fashions commanded a premium in the grey market. Dealers said the company's grey market premium (GMP) stood at around Rs 10 on Thursday.
Grey market is an unofficial market for unlisted securities. (Read more on grey market)
Vedant Fashions GMP
| Date | GMP (in rupees) |
| Feb 10 | 10 |
| Feb 9 | 10 |
| Feb 8 | 10 |
| Feb 7 | 40 |
| Feb 6 | 40 |
| Feb 5 | 40 |
| Feb 4 | 50 |
| Source: IPO Watch | |
Under the IPO, which was open for subscription between February 4 and February 8, Vedant Fashions shares were available for bidding in a price band of Rs 824-866 in multiples of 17. The IPO, entirely an offer for sale (OFS) by promoters and existing shareholders, saw an overall subscription of 2.6 times the shares on offer.
The company has a strong brand franchise -- owning and operating Twamev, Manthan, Mohey and Mebaz -- and looks to tap the large and growing Indian wedding and celebration wear market driven by increased spending.