Vedant Fashions IPO share allotment status date will be revealed on this date; know GMP
Vedant Fashions, owner of the ethnic wear brand Manyavar and Mohey opened its initial public offering today on February 4. The company has set a price band of ₹824-866 for the IPO and is expected to fetch Rs. 3,149 crore at the upper end of the price band. The Vedant Fashions IPO is entirely an offer for sale (OFS) by existing shareholders and promoters. Investors can bid for Vedant Fashions IPO for a lot of at least 17 shares or in multiples thereof. One lot of the IPO is worth ₹14,722 at the upper range of the price band and a retail bidder can bid for a maximum of 14 lots. For Vedant Fashions IPO share allotment status, subscribers will have to wait till the announcement on February 11. Vedant Fashions IPO subscription on the first day, GMP and other details have been provided below.
According to the market sources quoted by LiveMint, the Vedant Fashions IPO GMP today is Rs. 45 (grey market premium).
The company receives 11 percent of bids on the first day of bidding. The offer was subscribed for 27.76 lakh equity shares against the IPO size of 2.54 crore equity shares by 4 pm. The half of the issue was reserved for Qualified Institutional Buyers (QIB), while 35 percent was reserved for retail investors and 15% for non-institutional investors. Out of the total subscriptions, the share reserved for institutional investors received 05 bid while non-institutional share received 0.06 times and retail investors got 0.20 times subscription.
The IPO share allotment status of Vedant Fashions is likely to be released on February 11 on the official website of BSE as well as online portal of its registrar portal of Kfin Technologies India Private Ltd. The company is expected to list on the National Stock Exchange and Bombay Stock
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