New Delhi: The Initial Public Opening (IPO) worth Rs 3,149.14 of Vedant Fashions (VFL) was subscribed seven percent during the first ninety minutes of the issue on Friday.
According to Bombay Exchange Data (BSE), at around 11.25 am, the issue witnessed bids for 17,39,525 equity shares against an offering of 2,54,55,388 equity shares in the issue.
The quota reserved for retail portion was subscribed 11 percent, whereas the NNI quota saw 5 percent bids. On the other hand, QIB quota didn't receive any bids so far.
The issues is entirely an offer for sale (OFS) by the promoters and existing shareholders and the company is selling its shares in the range of Rs 824-866 apiece in the maiden public offering and it can be subscribed till Tuesday, February 8.
Coming to lot size, here an investor can subscribe to the IPO by betting on a lot of 17 shares and in the multiples thereof.
As per the BSE circular, the company has already garnered Rs 945 crore from anchor investors.
At present, shares of the company are available at a premium of Rs 50 in the Grey Market Premium (GMP) against the upper price band, according to IPO Watch.
Vedant Fahion is a leader in the branded Indian wedding and celebration wear market with a pan India presence.
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