Vedant Fashions makes positive opening on exchanges; lists with 8 pc premium

New Delhi, Feb 16: Vedant Fashions, which owns the ethnic wear brand Manyavar, made a positive debut on exchanges on Wednesday as the stock got listed with an 8 per cent premium over the issue price of Rs 866.
On BSE, the scrip made an opening at Rs 936, higher by 8.08 per cent in comparison to the issue price of Rs 866.
Similarly, on NSE, the shares listed at Rs 935, registering a premium of 7.96 per cent over the issue price.
The company got listed following the completion of its Rs 3,149-crore offer-for-sale of equity shares last week, which was subscribed 2.6 times.
The qualified institutional buyers category received maximum demand with 7.49 times subscription, non-institutional investors’ part was subscribed 1.07 times and retail investors’ portion obtained only 39 per cent subscription, which had a price range at Rs 824-866 per share. (PTI)