Manyavar makes a decent debut on the stock exchange

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Manyavar makes a decent debut on the stock exchange
16 Feb 2022
5 min read

News Synopsis

Kolkata-based Vedant Fashions, which owns the fashion brand Manyavar has listed with decent gains on the National Stock Exchange and the Bombay Stock Exchange. It is listed at an 8.08 % premium than its issue price of 866 rupees. Santosh Meena, head of research, at Swastika Investmart said: “Vedant Fashion is debuting the secondary market on a positive note despite poor subscription figures. The company has strong brand value with good fundamentals however valuation is a major concern, therefore, investors should approach it from the long-term perspective where any dip of 15-20% from current levels will be a good buying opportunity. Those who applied for listing gain should maintain a stop loss of Rs. 890”. Its IPO was subscribed 2.57 times by the investors. According to BSE data, the market capitalization of the company stood at Rs. 22,716 crore before its listing.

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