Shares of Vedant Fashions will hit Indian stock exchanges today. According to BSE Notice available on the BSE website, the shares of Vedant Fashions Limited will be listed and admitted to trading on the ESN and the BSE in the list of securities group “B” in special pre-opening session (SPOS) Wednesday, February 16, 2022 Primary Market Watchers Say Vedant Fashions Gray Market Share Price Quotes ₹25 premium compared to its higher price range. However, stock market pundits are unmoved by this increase in the gray market premium (GMP) and they believe Vedant Fashions shares could have a “flat” to “marginal discounted” start today.
Speaking on Vedant Fashions’ IPO price; Abhay Doshi, Founder of UnlistedArena.com, said, “Vedant Fashions Limited’s issue received a slow response as the issue seemed very expensive. Corrections in recently listed stocks and the broader market navigation in the deep Red Sea have made investors cautious. should also be parallel line as there is almost nothing left on the table for investors. A flat to marginal quote is expected.
Expects cut-price opening for shares of Vedant Fashions; Aayush Agrawal, Principal Analyst at Swastika Investmart Ltd, said, “Vedant Fashions is among the top companies in India’s wedding and celebration wear segment with the brand name Manyavar Mohey. The company’s finances suffered a setback due to the pandemic, but returned to normal in the first half of FY22. Vedant Fashions IPO GMP is at par with the upper price range. Ongoing global scenarios will continue to impact the Indian market and hence the stock is expected to trade below its issue price.
Echoing the views of Ayush Agrawal; Ravi Singh, Head of Research and Vice President at Share India, said: “Vedant Fashions’ IPO valuation looks expensive and investors won’t have much space. register at a reduced price of approximately 3-5%.
On Vedant Fashions IPO Listing Price Prediction; Manoj Dalmia, Founder and Director of Proficient Equities Limited, said: “The company suffered a setback during the pandemic, but kept its profits in line with its turnover. expecting a muted opening for his actions today.”
Expect Vedant Fashions shares to be listed at a discount of around 8-10%; Likhita Chepa, Senior Research Analyst at CapitalVia Global Research, said: “We expect Vedant fashion to be listed at an 8-10% discount, although its GMP is reporting an at par listing. The show was subscribed 2.57 times while its retail portion was subscribed 0.39 times. “Its costly valuation, impact on its earnings due to the pandemic and 100% OFS has already led to lukewarm response from investors. With selling pressure and increasing volatility in Indian markets, we do not expect earnings on the day of listing of this issue.”
Vedant Fashions IPO: What GMP Reports
As mentioned above, Vedant Fashions IPO GMP is today ₹25, which is ₹23 more than his GMP yesterday ₹2. Primary market watchers are of the view that such a jump in gray market premium from Vedant Fashions IPO is due to change in secondary market sentiment after signs of easing in dispute Russia -Ukraine. As Vedant Fashions IPO GMP is today ₹25, this means the gray market expects Vedant Fashions shares to trade around ₹891 ( ₹866+ ₹25), which is nearly 3 percent above its price range of ₹824 to ₹866 per share.
Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.
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