There was no craze among investors on the first day regarding the IPO of Manyavar’s parent company Vedanta Fashions Limited. This issue has been subscribed only 0.11 times till 3 pm on the first day of subscription.
Manyavar IPO Subscription Status: There is no craze among investors on the first day of the IPO of Vedanta Fashions Limited, the parent company of ethnic wear brand Manyavar. This issue has been subscribed only 0.11 times till 3 pm on the first day of subscription. Retail investors or non-institutional investors have not shown any special interest in this till now. This issue will be open for investment till February 8. This IPO is completely on offer for sale (OFS). The company has fixed the price band for IPO at Rs 824-866 per share. Whereas the lot size is of 17 shares.
which part is full
In the IPO of Vedant Fashions, 35 per cent is reserved for retail investors. So far it has been filled 0.19 times. 50 percent is reserved for QIB ie Qualified Institutional Investors. It’s completely empty right now. Whereas 15 per cent is reserved for non-institutional investors and it is filled 0.06 times so far.
Experts are advising to stay away
Swastika Investmart Ltd. Giving “AVOID” rating on the IPO, Senior Analyst Aayush Agarwal has advised investors to stay away. He says that the financial performance of the company has been mixed in the last few years. Revenue increased in FY20, but declined thereafter in FY21 and declined to Rs 625 crore from Rs 9,47.97 crore. During this the profit decreased from 236.6 crores to 132.9 crores. The corona virus epidemic has had an effect on the performance of the company. However, the business of the company has become normal in the first 6 months of FY22. They say that Vedant Fashions is India’s leading company in Indian Wedding and Celebration Wear. The company has kept the valuation high for the IPO and it looks overpriced. At the same time, it is completely OFS based, that is, the company will not get money. So it is advisable to stay away from the issue.
Minimum investment required
Vedant Fashions has fixed the price band for the issue at Rs 824-866 per share. Whereas the lot size is of 17 shares. In terms of upper price band Rs 866, it will be necessary to invest at least Rs 14,722 in it. At the same time, you can apply for maximum 13 lots. That is, the maximum limit of investment in the issue is Rs 191,386. The allotment of shares will take place on February 11, while the shares will be transferred to the demat account of successful applicants on February 15. The company’s stock may be listed in the market on February 16.
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