Vedant Fashions, the largest company in India in the men's Indian wedding and celebration wear segment, is going to announce the IPO share allotment on February 11. Investors are provided two options to check their allotment status - either on the website of IPO registrar or BSE website.
On the BSE website, investors have to follow these three easy steps:
a) Select the issue type 'Equity' and issue name 'Vedant Fashions Limited'
b) Enter the application number and the permanent account number (PAN)
c) Check the box (I'm not a robot), and click on the search button.
Allotments can also be checked on the IPO registrar's website.
a) Select IPO in the dropdown 'Vedant Fashions Limited'
b) Select and enter either the application number, or DPID/Client ID, or PAN
c) Enter the Captcha and click on the submit button.
Unsuccessful investors will get refunds in their bank accounts by February 14 and equity shares will be credited to the demat accounts of eligible investors by February 15.
The trading in equity shares of Vedant Fashions will commence with effect from February 16.
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Vedant Fashions with brands like Manyavar, Twameva, Manthan, Mohey, and Mebaz, operates its business through franchise-owned exclusive brand outlets (EBOs), multi-brand outlets (MBOs), large format stores (LFSs) and online platforms (including website and mobile application).
The public issue, which was entirely an offer for sale, was subscribed 2.57 times. Qualified institutional investors lent major support to the issue, putting in bids 7.49 times the allotted quota during the February 4-8 subscription period. The retail portion was booked 39 percent and that of non-institutional investors 1.07 times.
The company raised Rs 3,149 crore at the upper price band. The price band for the offer was Rs 824-866 a share.Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.