Vashishtha Luxury Fashion IPO: The initial public offering of Vashishtha Luxury Fashion kicked off for subscription on Friday, September 5, witnessing a tepid demand for its share sale.
Vashishtha Luxury Fashion IPO will remain open for bidding till September 10. The ₹8.87 crore SME IPO is entirely a fresh issue of 0.08 crore shares with no offer for sale component.
The price band for Vashishtha Luxury Fashion IPO has been fixed at ₹109 to ₹111 per share, with a minimum lot size of 1,200 shares. Retail investors need to apply for at least two lots, requiring an investment of ₹2,66,400 at the upper end of the price band.
The allotment for Vashishtha Luxury Fashion IPO is expected to be finalised on September 11, while the shares are slated to list on September 15 on the BSE SME platform.
The company plans to use the proceeds from the share sale for funding working capital needs towards the purchase of embroidery machines, repayment of certain borrowings and general corporate purposes.
Vashishtha Luxury Fashion IPO Subscription
On the first day of bidding, the Vashishtha Luxury Fashion IPO was booked 8%. The retail portion was booked the most at 13% followed by the NII portion at 1%. QIB investors did not place any bids today.
Vashishtha Luxury Fashion IPO GMP
Vashishtha Luxury Fashion IPO GMP (grey market premium) was nil. This means shares of Vashishtha Luxury Fashion are trading at par with the issue price. At the prevailing rates, the Vashishtha Luxury Fashion IPO could list at the IPO price.
About Vashishtha Luxury Fashion
Vashishtha Luxury Fashion is engaged in the business of exporting high fashion hand embroidery work, accessories & finished garments.
The company caters to various brands and fashion houses across Europe,
UK, USA, Australia, European countries and Turkish regions. Further, it also provides services in customised designs in the apparel segment.
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