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Vedant Fashions IPO: Check share allotment date, grey market premium, listing day here

February 9, 2022 03:56 PM

Vedant Fashions IPO Check share allotment date, grey market premium, listing day here
Vedant Fashions, which closed its initial public offering (IPO) on February 8, is expected to announce the share allotment on February 11.

Vedant Fashions will make its market debut on February 16 in what would be the third listing of 2022 after AGS Transact Technologies and Adani Wilmar

Vedant Fashions, which closed its initial public offering (IPO) on February 8, is expected to announce the share allotment on February 11.

Qualified institutional investors supported the issue in a big way, putting in bids 7.49 times the allotted quota during the February 4-8 subscription period, as retail investors remained cool to the offer.

The retail portion was booked 39 percent and that of non-institutional investors 1.07 times. The IPO was subscribed 2.57 times.

Read More: Vedant Fashions IPO : Dates, Issue Price, GMP, Subscription, Share Analysis and Allotment

The company that caters to the Indian celebration wear market with flagship brand Manyavar and other four brands raised Rs 3,149 crore at the upper price band. The price band for the offer was Rs 824-866 a share.

It was a complete offer for sale by the promoter and investors hence, the company will not receive any money from the offer.

How to check the share allotment status?

Investors can check their allotment status either on the website of IPO registrar or BSE website.

On the BSE website, investors have to follow these three easy steps:

Select the issue type ‘Equity’ and issue name ‘Vedant Fashions Limited’

Enter the application number and the permanent account number (PAN)

Check the box (I’m not a robot), and click on the search button.

Allotments can also be checked on the IPO registrar’s website.

Select IPO in the dropdown ‘Vedant Fashions Limited’

Select and enter either the application number, or DPID/Client ID, or PAN

Enter the Captcha and click on the submit button.

After the allotment is finalised, refunds will be credited to the bank accounts of unsuccessful investors by February 14. Eligible investors will get shares in their demat accounts by February 15.

Vedant Fashions will make its debut on the BSE and NSE on February 16 in which would the third listing of 2022 after AGS Transact Technologies and Adani Wilmar.

The trading premium of Vedant Fashions in the grey market has dropped to Rs 10-15 from Rs 40-50 on February 4, as per the IPO Watch and IPO Central. This fall can be attributed to the market volatility and tepid response to the issue.

The grey market is an unofficial platform, where trading in shares begins with the announcement of the price band and continues till the listing day.

Vedant Fashions operates its business through franchise-owned exclusive brand outlets (EBOs), multi-brand outlets (MBOs), large format stores (LFSs) and online platforms (including website and mobile application).

As of September 2021, it had a retail footprint of 1.2 million square feet, covering 535 EBOs in 212 cities and towns in India and 11 EBOs in the United States, Canada and the UAE.

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