Vedant Fashions makes premium debut on exchanges, stock surges nearly 13% so far today

16 Feb 2022 , 11:59 AM

Vedant Fashions makes a decent premium listing on Wednesday against its initial public offering (IPO) issue price. The stock was trading on a bullish note despite the broader markets tone being volatile.

On BSE, the stock listed at Rs936 per share is higher by 8.08% from the IPO upper price band of Rs866 per share.

The stock has touched a 52-week high of Rs975.30 per share leading up to a nearly 13% gain so far today against the IPO issue price.

At around 11.53 am, the stock traded at Rs953.80 per piece up by Rs87.80 or 10.14% against the IPO price band. If compared to the listing price, then the stock has surged by 1.9% on BSE.

At the current market price, the company’s market valuation on BSE stands at around Rs23,200 crore.

The stock has an upper and lower circuit of Rs1,123.20 per piece and Rs748.80 per piece set on BSE.

The stock will trade on the Bombay Stock Exchange in the list of ”B” Group Securities.

The company had launched its IPO from February 04 to February 08, 2022, at a price band of Rs824 to Rs866 per equity share. The issue had oversubscribed by 2.57 times.