Shares of Vedant Poly Fabs made a flat debut on the stock market on November 9, listing at their initial public offering (IPO) price of Rs 94 apiece on the NSE Emerge platform.
The debut was marginally below grey market expectations. The shares were commanding a grey market premium (GMP) of around Rs 1, or 1.06 percent, over the upper end of the IPO price band ahead of listing, according to InvestorGain. However, GMP is an unofficial indicator and does not necessarily translate into actual listing performance.
The Rs 56.68-crore book-built IPO of Vedant Poly Fabs comprised a fresh issue of 54.26 lakh equity shares aggregating to Rs 51.01 crore and an offer for sale (OFS) of 6.04 lakh shares worth Rs 5.67 crore. The OFS proceeds will go to the selling shareholder, while the company will receive the proceeds from the fresh issue.
The company had fixed the IPO price band at Rs 88-94 per share, with a face value of Rs 10 each. The public issue opened for subscription on November 2 and closed on November 4, 2026.
The IPO received an overall subscription of 1.85 times by the close of bidding on November 4, according to NSE data.