Vedant Fashions IPO
Vedant Fashions Limited (MANYAVAR) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 February 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +8.1% (likely range -13% to +22%), day's high +17.6%, chance of a gain 82%. Actual: +8.0% at the open, +14.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 72,72,968 | 5,44,92,514 | 7.49x | |
| NII (HNI) total | 54,54,726 | 58,55,038 | 1.07x | |
| Retail | 1,27,27,694 | 50,25,166 | 0.39x | |
| Total | 2,54,55,388 | 6,53,72,718 | 2.57x |
Bids on NSE and BSE together, as published by NSE, as of 08 Feb 2022, 05:00 PM. Shares offered exclude the anchor portion. 6% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Vedant Fashions's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Gland PharmaNov 2020 | 6.40x | 0.51x | 0.24x | 2.06x | ₹6,480 Cr | +14.0% | +23.3% |
| ICICI Lombard General Insurance CompanySep 2017 | 8.17x | 0.83x | 1.23x | 2.98x | ₹5,701 Cr | -1.5% | +5.0% |
| Chalet HotelsJan 2019 | 4.66x | 1.10x | 0.03x | 1.57x | ₹1,649 Cr | +5.0% | +7.1% |
| Varroc EngineeringJun 2018 | 9.16x | 2.45x | 0.95x | 3.59x | ₹1,955 Cr | +5.0% | +9.8% |
| SBI Life Insurance CompanySep 2017 | 12.6x | 0.70x | 0.85x | 3.58x | ₹8,400 Cr | +5.0% | +5.7% |
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Edelweiss Financial Services | 16 | +25.0% | 69% |
| ICICI Securities | 109 | +21.3% | 69% |
| IIFL Securities | 94 | +19.3% | 71% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
Offer documents (NSE)
Frequently asked
What is the Vedant Fashions IPO price band and lot size? ₹824–866 per share, with a lot of 17 shares, so the smallest retail bid is ₹14,722.
How many times has it been subscribed? 2.57x overall: QIB 7.49x, NII 1.07x, retail 0.39x.
How did it list? It opened at ₹935, +8.0% against the issue price of ₹866, and closed its first day +7.8%.
