Vashishtha Luxury Fashion IPO Gains Momentum on Day 3; Retail Interest Strengthens

Mumbai, September 9, 2025 – The SME IPO of Vashishtha Luxury Fashion Limited is witnessing a rise in demand on day three of bidding. According to BSE data at 1:50 PM, investors made offers for 4,71,600 shares against the issue’s total offer size of 7,58,400 shares, translating to a subscription of 0.87 times their quota.

Headquartered in Mumbai, Vashishtha Luxury Fashion Limited, initially established in 2010 as a company named Vashishtha Exports, which was then converted into a public company in 2022, is involved in exporting high-fashion hand embroidery, accessories, and finished garments. The company exports to international prêt-à-porter as well as couture brands throughout Europe, the UK, the USA, Australia, and Turkey.

It operates mainly in the form of its subsidiary Vashishtha Embroideries Pvt. Ltd. and promoter entity Anas Embroidery, which makes it a specialist outsourcing partner for high-end fashion brands.

Category-Wise Subscription Status (as of 1:50 PM)

Bidding for the IPO picked up pace by early afternoon, but subscription levels continued to change across investor categories. The Qualified Institutional Buyers (QIBs) segment remained on the bench, with no bids coming in so far against the 75,600 shares available.

In the Non-Institutional Investors (NII) segment, demand was moderate with 1,18,800 shares bid for compared to 2,65,200 offered, at a 0.45 times subscription. In this category, large applications (over ₹10 lakh) totaled 75,600 shares, or 0.43 times the reserved segment, while small applications (up to ₹10 lakh) were better at 0.49 times subscription with 43,200 shares bid compared to 88,800 offered.

The Retail Individual Investors (RII) segment reflected higher participation, as bids were received for 3,64,800 shares against the offered 4,17,600 shares, which worked out to 0.87 times subscription. For the overall issue, the IPO had attracted bids for 4,83,600 shares against the offered 7,58,400 shares, which worked out to 0.64 times subscription till afternoon.

Vashishtha Luxury Fashion IPO Details

Vashishtha Luxury Fashion opened its initial public offering (IPO) for subscription from September 5, 2025, to September 10, 2025. The shares of face value of ₹10 each are being offered in a price band of ₹109 to ₹111 per share. The minimum lot size is 1,200 shares.

Vashishtha Luxury Fashion IPO comprises a fresh issue of 7,99,200 shares that will raise to ₹8.87 crore. Of this, 40,800 shares have been kept for the market maker, and Nirman Share Brokers Pvt. Ltd. has been appointed to deal with that portion. The net offer to the public is 7,58,400 shares aggregating up to ₹8.42 crore. The issue is being made through the book-building mode and will be listed on the BSE SME platform.

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