Vedant Fashions Shares Surge Up To 12.5% After Decent Debut

Vedant Fashions, owner of bridalwear brand Manyavar debuted at a price of Rs. 935 per share on the NSE. While on the BSE, the scrip saw a flat start with initial beginning at Rs. 936 per share. As of publishing this story, the scrip on the NSE gained to a price of Rs. 975 i.e. a gain of 12.5% as against the IPO issue price.

Vedant Fashions Shares Surge Up To 12.5% After Decent Debut

As per the BSE notice available on the BSE website, the equity shares of Vedant Fashions Limited shall be listed and admitted to dealings on NSE and BSE in the list of 'B' Group of Securities in Special Pre-open Session (SPOS) on Wednesday, February 16, 2022.

The GMP of the stock rose by a tad but experts had been expecting a flat to disconted listing for the retailer company.

Vedant Fashions share listing at around 8-10 per cent discount; Likhita Chepa, Senior Research Analyst at CapitalVia Global Research said, "We expect Vedant fashion to list at a discount of 8 to 10 percent although its GMP is signaling at par listing. The issue was subscribed 2.57 times whereas its retail portion was subscribed 0.39 times. Its expensive valuation, impact on its revenue due to the pandemic and 100 percent OFS has already lead to tepid response of the investors. With sell off pressure and increasing volatility in Indian markets we do not expect gains on the listing day from this issue."

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