The initial public offering (IPO) of Vedant Fashions Ltd, the company behind popular ethnic wear brands Manyavar and Mohey, opened on February 4, 2022, and remained open for subscription for three days. Vedant Fashions IPO aimed to raise ₹3,149 crore at the upper price band of ₹824 – ₹866 per share. The IPO was entirely an offer for sale (OFS) by existing shareholders and promoters. On the first day, investor response was moderate, with the issue being subscribed 14 percent. Market analysts closely monitored the Vedant Fashions IPO GMP (Grey Market Premium) on February 4, which was reported to be around ₹45, providing early insights into potential listing performance.
On the first day of subscription, retail investors showed considerable interest, subscribing 22% of their allocated portion. Qualified Institutional Buyers (QIBs) and Non-institutional investors both subscribed 6% of their respective quotas. Investors interested in the Vedant Fashions IPO were required to bid for a minimum lot size of 17 shares and multiples thereof. The allotment status for the IPO was expected to be finalized around February 11, with the anticipated listing date set for February 16, 2022. Monitoring the Grey Market Premium (GMP) of Vedant Fashions IPO became crucial for investors to gauge potential listing gains.
The Grey Market Premium (GMP) is a key indicator for IPO investors, reflecting the premium at which IPO shares are traded in the unofficial market before they are listed on stock exchanges. It essentially represents the price investors are willing to pay for IPO shares outside of the formal exchange mechanism. A positive GMP suggests that the market anticipates the stock to list at a premium above its issue price. Conversely, a negative GMP could indicate expected listing below the issue price. For the Vedant Fashions IPO, tracking the GMP provided investors with a sense of market sentiment and potential listing day performance of the Manyavar brand stock. Factors influencing GMP include market conditions, company financials, investor demand, and overall IPO subscription levels. Vedant Fashions Gmp became a closely watched metric by investors and market participants alike.
To check the allotment status of Vedant Fashions IPO shares, applicants were advised to wait until the finalization of the allotment process, expected on February 11. Once announced, the allotment status could be accessed through the official website of BSE (Bombay Stock Exchange) and the online portal of the IPO registrar, KFin Technologies Private Ltd. These online platforms offer convenient ways for investors to determine their share allocation in the Vedant Fashions IPO.
Checking Vedant Fashions IPO Share Allotment Status via BSE:
To check the Vedant Fashions IPO allotment status on the BSE website, investors can follow these steps:
- Visit the BSE website: Go to bseindia.com or directly access the allotment status page using the link: https://www.bseindia.com/investors/appli_check.aspx.
- Select Vedant Fashions IPO: Find and click on the ‘Vedant Fashions IPO’ option in the menu. This option becomes available after the allotment status is officially declared.
- Enter Application Details: Input your Vedant Fashions IPO application number and Permanent Account Number (PAN).
- Captcha Verification: Complete the captcha verification by checking the ‘I’m not a robot’ box.
- Submit: Click the ‘Submit’ button to proceed.
- View Allotment Status: The Vedant Fashions IPO allotment status will be displayed on the screen.
Alternatively, investors could also check their Vedant Fashions IPO allotment status through the registrar’s website, KFin Technologies Private Ltd. This method provides another online avenue to access allotment details.
The listing of Vedant Fashions IPO was expected on February 16, 2022. The GMP trends leading up to the listing date often provide further indications about the potential stock performance on its debut. For investors who tracked Vedant Fashions GMP, the listing day performance was a key event to observe the accuracy of grey market predictions and overall market reception to the Manyavar brand’s stock.
