The initial public offer of the company was subscribed 2.57 times. The company’s Rs 3,149 crore IPO received bids for 6,53,72,718 shares against 2,54,55,388 shares on offer, according to BSE data.
Since the IPO was entirely an offer-for-sale, the company will not receive any proceeds from the public issue. Price range for the offer was at Rs 824-866 per share.
The grey market premium (GMP) indicated a weak listing for the issue. Dealers active in unlisted markets said shares of Vedant Fashions were trading at a premium of Rs 8 or barely a per cent.
Vedant Fashions’ Manyavar brand is a category leader in the branded Indian wedding and celebration wear market with a pan-India presence. The company’s other brands include Twamev, Manthan, Mohey, and Mebaz.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit
https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Vedant Fashions Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’, and hit submit.
You can also check the allotment status on the online portal of KFintech Private Limited (https://
https://kcas.kfintech.com/ipostatus/), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of KFintech Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit
Bidders who could not get allotment in the IPO may see the initialisation of refunds on February 14. Others, who would be allotted shares may see the credit of shares in the demat account by February 15. The listing of the IPO is likely on February 16.
