The initial public offering (IPO) of Vedant Fashions Ltd, the company behind the popular ethnic wear brands Manyavar and Mohey, concluded its three-day subscription period on February 8, 2022, after opening on February 4, 2022. The IPO aimed to raise ₹3,149 crore at the upper end of the price band, which was set at ₹824 – ₹866 per share. This IPO was entirely an offer for sale (OFS) by existing shareholders and promoters, meaning the company itself would not receive any of the funds raised. Initial response on the first day was somewhat subdued, with a subscription rate of just 14 percent. Market sources on February 4th indicated a Grey Market Premium (GMP) of ₹45 for Vedant Fashions IPO.
Investors were allowed to bid for a minimum lot size of 17 shares and in multiples thereafter. For those who have applied for the IPO, the crucial next step is to check the Vedant Fashions IPO share allotment status. The allotment status is expected to be finalized on February 11, 2022, and the shares are expected to be listed on the stock exchanges on February 16, 2022.
Vedant Fashions IPO Subscription Details on February 4, 2022
On the first day of subscription, different investor categories showed varying levels of interest. The retail portion of the IPO was subscribed 22 percent, indicating moderate retail investor participation. Qualified Institutional Buyers (QIBs) showed less enthusiasm initially, with their quota being subscribed only 6 percent. Similarly, Non-Institutional Investors (NIIs) also subscribed 6 percent of their allocated portion on the first day.
Checking Your Vedant Fashions IPO Share Allotment Status
The allotment of shares for the Vedant Fashions IPO is anticipated to be finalized on February 11, 2022. Applicants can conveniently check their allotment status online through two primary platforms: the official website of the Bombay Stock Exchange (BSE) and the online portal of KFin Technologies Private Ltd, the registrar for the IPO.
How to Check Vedant Fashions IPO Allotment Status on BSE:
To check the allotment status via the BSE website, you will need a few essential things readily available.
Step 1: Navigate to the BSE Website. Open your preferred web browser and go to the official BSE website: bseindia.com. Alternatively, you can use this direct link: https://www.bseindia.com/investors/appli_check.aspx.
Step 2: Select Vedant Fashions IPO. Once on the BSE website, locate and click on the option to check IPO allotment status. You will need to find and select “Vedant Fashions IPO” from the dropdown menu. This option will become active and visible only after the allotment status has been officially finalized and declared.
Step 3: Enter Application Details. You will be prompted to enter your application number that was generated during the Vedant Fashions IPO application process. Additionally, you will need to input your Permanent Account Number (PAN).
Step 4: Complete the Captcha Verification. For security purposes, you will need to complete a captcha verification. This usually involves checking a box that says ‘I’m not a robot’.
Step 5: Submit Your Details. After entering all the required information and completing the captcha, click on the ‘Submit’ button to proceed.
Step 6: View Your Allotment Status. Upon successful submission, the Vedant Fashions Ipo Allotment Status will be displayed on your screen. This will indicate whether or not you have been allotted shares in the IPO.
