ADVERTISEMENT
Manyavar Owner Vedant Fashions Jumps 14.6% On Debut
The stock listed at Rs 935 apiece, a 7.9% premium to its IPO price of Rs 866.
16 Feb 2022, 03:38 PM IST 
Save
Vedant Fashions' Chief Marketing Officer Vedant Modi at the listing ceremony. (Source: NSE/Facebook)
Show Quick Read
Summary is AI Generated. Newsroom Reviewed
Shares of Vedant Fashions Ltd. gained on market debut even as the Manyavar brand owner's initial share sale received lukewarm demand.
The stock listed at Rs 935 apiece, a 7.9% premium to its IPO price of Rs 866, according to Bloomberg data. It then gained as much as 14.6% to Rs 975, before ending the day 7.8% higher.
The Rs 3,150-crore IPO, the third so far this year, was subscribed 2.57 times on its final day, led by demand from institutional investors. The portion reserved for retail investors remained under-subscribed.
It had set a price band of Rs 824-866 apiece, seeking a market capitalisation of Rs 21,017 crore at the upper end.
