Vivaa Tradecom Limited shares made a weak debut on BSE today. On BSE SME, Vivaa Tradecom Limited share price today was listed at ₹40.80 per share, 20% lower than the issue price of ₹51 .
Vivaa Tradecom Limited public issue was offered at a fixed price of ₹51 per equity share of face value of ₹10 each. Vivaa Tradecom Limited lot size stood at 2000 equity shares and in multiples of 2000 equity shares thereafter. The issue price was 5.1 times the face value of the equity shares. Vivaa Tradecom Limited opened for subscription on Wednesday, September 27, and closed on Wednesday, October 4th.
Vivaa Tradecom Limited issues size was worth ₹7.99 crores which is entirely a fresh issue of 15.66 lakh equity shares. The face value of each share stood at ₹10 apiece. Mitesh Adani is the promoter of the company.
The company plans to use the net proceeds from the offering to meet working capital requirements and to fund general corporate purposes.
Vivaa Tradecom is a manufacturer and trader of clothes and garments. The company's product list includes Denim Fabric, readymade garments such as Denim and Cotton Jeans for Men- and women.
Interactive Financial Services is the lead manager to the issue, while Bigshare Services Pvt Ltd is the IPO registrar.
The company had reserved 7.42 lakh shares or 47.38% of the total shares for retail investors while another 47.38% shares had been reserved for Non-Institutional Investors (NII) in the IPO.
Vivaa Tradecom Limited IPO GMP today
Viva Tradecom GMP today or grey market premium was ₹0, which meant Viva Tradecom shares were trading at their issue price of ₹51 with no premium or discount in the grey market according to investorgain.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
