Vashishtha Luxury Fashion IPO Opens on BSE SME; Retail Investors Lead Early Bidding

Mumbai, September 5:  Vashishtha Luxury Fashion Limited IPO has opened for subscription today, but is witnessing modest demand from investors. The issue is being led entirely by retail investors as it has received no bidding for any other type of investor. As per BSE data at 12:00 PM, the issue received bids for 33,600 shares against the total issue size of 7,99,200 shares, marking an overall subscription of 0.04 times.

Vashishtha Luxury Fashion Limited is an Indian company that specialises in exporting high-fashion hand embroidery, accessories, and finished garments. It was originally founded as a partnership firm in 2010 and was incorporated as a limited company on September 6, 2022.

Retail Investors Sole Bidders

As of 12:00 PM, retail investors were the only bidders, with shares offered at 4,17,600, shares bid for at 33,600, and total applications at 14, translating to 0.08 times subscription. The issue has not received any bids from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Others (Employees/Shareholders/Policyholders).

100% Book Built Issue With ₹109 – ₹111 Price Band

The company’s IPO has an issue size of ₹887 lakh, and the company has set ₹109 – ₹111 as the price band. The offer is a 100% book built issue, including a fresh issue of 7,99,200 equity shares. The IPO opened today and will close on September 10. Expert Global Consultants Pvt. Ltd is the lead manager while Bigshare Services Pvt. Ltd is the registrar for the issue.

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