Global index provider FTSE has increased the weightage of Vedant Fashions (Manyavar) in four of its indices
The floor price for the OFS has been set at Rs 1,161
CLOSING BELL ON MAY 18: The NSE Nifty 50 slipped 52 points to 18,130 as weekly expiry also weighed on the sentiment.
"The offer is being undertaken by the sellers, for achieving the minimum public shareholding of the company...," it said
Vedant Fashions Ltd (VFL), which owns the ethnic wear brand Manyavar, on Wednesday said one of its promoters plans to sell up to 7 per cent stake in the company for at least Rs 1,962 crore. Ravi Modi Family Trust, a promoter of VFL, proposes to sell up to 1.69 crore equity shares, which is 7 per cent of the total issued and paid-up equity share capital of the company, according to a regulatory filing. The floor price for the offer is Rs 1,161 per equity share. "The offer is being undertaken by the sellers, for achieving the minimum public shareholding of the company...," it said. Listed companies are required to have at least 25 per cent public shareholding. Currently, the promoters' holding in the company is 84.88 per cent.
Amid the recent market fall,11 stocks hit record highs. Whenever any stock exhibits reluctantance to weaken despite a pessimistic bias, it means the underlying trend possesses a robust momentum.
The positive listing-day performance comes even as the ethnic wear maker's Rs 3,150-crore IPO saw subdued response
Vedant Fashions makes decent debut, lists at 8% premium; Vijay Kedia-owned stock hits 10% upper circuit on order win; IDBI Bank gains 3% as govt set to begin investor outreach from Feb 25
Among individual stocks, Bharti Airtel, M&M, HDFC, Kotak Bank, Nestle India, and Dr Reddy's Labs were the only Sensex gainers today
Adani Wilmar gains 15% over issue price after weak debut; Ugar Sugar Works zooms 40% in 2 days; Sansera Engineering hits new low; Vedant Fashions IPO sails through on final day
Nifty PSU Bank index outperforms benchmarks; SBI hits record high; IndiGo soars 10% on strong rebound in Q3 bottom line; Vedant Fashions IPO sees 20% subscription on day 2
The retail portion of the issue was subscribed 22%, while institutional and HNI were subscribed 6% each
Nifty Metal shines; Hindustan Copper gains 6%; Godrej Properties, Monte Carlo Fashions slump 10% each; Vedant Fashions IPO subscribed only 11% on day 1
Among the Sensex pack, SBI was the biggest loser as it dropped over 2 per cent. M&M, NTPC, Kotak Bank, Bajaj Finserv, HDFC, Power Grid, and RIL were the other losers, all down between 1-1.8 per cent
Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, on Thursday said it has garnered Rs 945 crore from anchor investors, ahead of its IPO roll-out on Friday
Vedant Fashions will open for subscription on February 4. From IPO price to Vedant Fashions IPO GMP, here's all you need to know
Vedant Fashion's IPO will be open for subscription from February 04 to February 08, in the price band of Rs 824 to Rs 866 per share.
The initial share-sale will open on February 4 and conclude on February 8
The company aims to add over 100 stores next year alone; overall goal is to have 2 mn sq feet over next few years, form 1.1 mn sq ft currently
The IPO is purely an offer for sale of 36,364,838 equity shares by promoter and existing shareholders