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Vedant Fashions makes strong market debut, shares end listing day at 9% premium over issue price

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Vedant Fashions makes strong market debut, shares end listing day at 9% premium over issue price

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Vedant Fashions (Manyavar) IPO listing: The stock of Kolkata-based Vedant Fashions finished the listing day at a premium of around 8-9 percent on BSE and NSE.

Vedant Fashions shares made a strong debut in the secondary market on Wednesday. The stock of Kolkata-based Vedant Fashions - which owns brands Manyavar and Mohey - opened at Rs 935 apiece on NSE, a premium of eight percent over the issue price of Rs 866. On BSE, the stock began its journey at Rs 936 apiece.

The stock finished the listing day at Rs 943.1 apiece on NSE -- a premium of 8.9 percent. On BSE, it settled at Rs 934.9 apiece.
The strong listing of Vedant Fashions comes despite a muted trend seen in the grey market in the past few days. Dealers said Vedant Fashions gave up a grey market premium (GMP) of Rs 10-50 days ahead of the listing.

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The initial public offering (IPO) of Vedant Fashions, which was open for bidding between February 4 and February 8, was an overall subscription of 2.6 times the shares on offer.
The IPO of Vedant Fashions, to raise up to Rs 3,149 crore, received bids for 6.5 crore shares against the 2.5 crore shares on offer.
CategorySubscription (No. of times the shares reserved)
QIB7.5
NII1.1
Retail0.39


Under the IPO, which was entirely an offer for sale (OFS) by promoters and existing shareholders, Vedant Fashions (Manyavar) shares were available for bidding in a price band of Rs 824-866 in multiples of 17. Ahead of the IPO, Vedant Fashions said it had garnered Rs 945 crore from anchor investors.
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