Shares of Vedant Fashions Limited listed on the bourses and had a quiet day gaining 7.95%. The company had tapped the capital markets with its offer for sale of 3,63,64,838 shares in a price band of Rs 824-866. The issue had opened on Friday the 4th of February and closed on Tuesday the 8th of February. The issue has garnered Rs 3,149.19 crs at the top end of the price band. The issue was subscribed 2.55 times overall with the QIB portion subscribed 7.49 times, HNI portion subscribed 1.07 times and Retail portion subscribed 0.36 times. There were 2.52 lac applications.
The HNI portion had 301 valid applications of which 2 applications were for 17.32 lac shares or 39.36% of the HNI portion. Individually they were for 5.77 lac shares and 11.55 lac shares. This clearly shows that the HNI portion was struggling as far as subscriptions were concerned.
The discovered price on BSE was Rs 936 at which price 41,017 shares were traded. On NSE, the discovered price was 935 at which price 24,57,465 shares were traded. Approximately 25 lac shares were traded at the discovered price on the two exchanges combined.
The high of the day on BSE was Rs 993, the low was Rs 921 and the close at Rs 934.85. The gain was Rs 68.85 or 7.85%. On NSE, the high of the day was Rs 992.70, low was Rs 920 and the close was Rs 933.55 a gain of Rs 67.55 or 7.80%.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 936.00 | 993.00 | 921.00 | 934.85 | 68.85 | 7.95 | 948.75 | 821137.00 | 283798 | 34.56 |
| NSE | 935.00 | 992.70 | 920.00 | 933.55 | 67.55 | 7.80 | 948.79 | 19754867 | 7994641 | 40.47 |
| Total | 20576004 | 8278439 | 40.23 |
The traded volume on the two exchanges combined was 205.76 lac shares which was 0.57 times the IPO size of 363.64 lac shares and 0.81 times the non-anchor portion of 254.55 lac shares. Delivery volume was 82.78 lac shares which was 40.23% of the traded volume. It was 22.76% of the issue size and 32.52% of the non-anchor portion. The weighted average of the day’s trade was Rs 948.75 on BSE and Rs 948.79 on NSE.
The share was under pressure towards the end of the day as is visible from the difference in the weighted average of the day and the closing price. There were no institutional trades during the day either on the BSE or NSE.
Going forward, the share will continue to drift with a downward bias until the floating stock gets absorbed. The share has managed to close with gains on day one which itself is a great positive for the share.
