The initial public offer (IPO) of Vashishtha Luxury Fashion received bids for 16,92,000 shares as against 7,99,200 shares on offer. The issue was subscribed 2.11 times.
Qualified Institutional Buyers (QIBs) bid for 96,000 shares, Non-Institutional Investors (NIIs) for 6,96,000 shares, while individual investors (IND category bidding for 2 lots) placed bids for 9,00,000 shares.
The issue opened for bidding on 5 September 2025 and it closed on 10 September 2025. The price of the IPO was fixed between Rs 109 to Rs 111 per share. The equity shares will list on BSE's SME platform.
The IPO comprised a fresh issue of 7,99,200 equity shares.
The company intends to utilize the net proceeds for purchasing embroidery machines for expansion, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and general corporate purpose.
Vashishtha Luxury Fashion is engaged in the business of exporting high fashion hand embroidery, accessories & finished garments. The company caters to various brands and fashion houses across Europe, UK, USA, Australia, European countries & Turkey regions. Further, it also provides services in customized designs in apparel segment. As on 31 July 2025, the company had total 21 employees on payroll.
The company recorded revenue from operations of Rs 10.63 crore and net profit of Rs 1.53 crore for the period ended 31 March 2025.