Vama Wovenfab Limited IPO Debuts on BSE, Stock Drops 5%
1 report, 1 independent
Updated Sep 22
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What happened
Vama Wovenfab Limited debuted on the BSE with an IPO price of Rs 341. The IPO was subscribed 2.58 times, and the price band was set between Rs 324 and Rs 341 per share. On its debut day, the stock traded down 5% from the issue price, hitting a low of Rs 323.95. The company, which produces products like polypropylene (PP) and high-density polyethylene (HDPE) woven sack bags, has a manufacturing unit in Daman.
Why it matters
The debut marks the company's entry into the SME market. The IPO proceeds were earmarked for various corporate needs, including capital expenditure on a shed, machinery purchases, and working capital requirements. The company is ISO 9001:2015-certified.
Who's involved
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The entities involved
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Daman
city in India
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