Vedant Fashions' stock will be listed on February 16, know whether it will open up or down?

Vedant Fashions’ stock will be listed on February 16, know whether it will open up or down?

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New Delhi. Vedant Fashions IPO: Vedanta Fashions IPO will be listed on the National Stock Exchange (NSE) on the coming Wednesday, 16 February 2022. The company has brought an offer-for-sale of Rs 3,149 crore. For two days after opening for the investors, there was a very cold response from the investors, but on the last day it was filled up to two and a half times. The company has received 6,53,72,718 bids for 2,54,55,388. The company has fixed the price band at Rs 824-866 per share under the IPO.

Now that this stock is going to be listed on February 16, so investors want to know whether it will open up or down. Only time will tell, but some guesses can be made based on the grey-market price. According to a report in Live Mint, the stock of Vedanta Fashion is running in the negative in the Grey Market Premium. It is running 2 rupees less than its price. If seen according to the gray market price, then the stock can open below its issue price.

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Company Information

At present, Rine Holdings holds 7.2% stake in Vedanta Fashion, 0.3% stake is with Kedara AIF, while 74.67% stake is with Ravi Modi Family Trust. Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities and Kotak Mahindra Capital are the book running lead managers of the issue.

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Let us tell you that Vedanta Fashion deals in the ethnic wear segment of men. Its flagship brand ‘Manyavar’ has a pan-India presence and is the market leader in the Indian Wedding and Celebration Wear segment. Apart from this, brands like Twamev, Manthan, Mohey and Mebaz are also included near Vendat Fashion.

Tags: business news, IPO

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