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New Delhi, Feb 16 (PTI) Vedant Fashions, which owns the ethnic wear brand Manyavar, made an impressive debut on exchanges on Wednesday with its stock closing nearly 9 per cent higher over the issue price of Rs 866.

On BSE, the scrip opened at a positive note of Rs 936.

Intra-day, it had touched a high of Rs 993 and finally settled at Rs 934.85, surging 7.95 per cent in comparison to the issue price of Rs 866.

Likewise, on NSE, the shares got listed at Rs 935. It touched an intra-day high value of Rs 992.7 and closed the counter at Rs 943.05, a gain of 8.9 per cent over the issue price.

The company got listed following the completion of its Rs 3,149-crore offer-for-sale share sale last week, which was subscribed 2.6 times.

The qualified institutional buyers category received maximum demand with 7.49 times subscription, non-institutional investors’ part was subscribed 1.07 times and retail investors’ portion obtained only 39 per cent subscription, which had a price range at Rs 824-866 per share. PTI SRS RUJ RUJ

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