Vedant Fashions’ IPO (Initial Public Offering) is a success
Vedant Fashions IPO – On the third and final day of its IPO, Vedant Fashions Limited, the owner of ethnic clothing brands such as ‘Manyavar‘ and ‘Mohey,’ was subscribed 2.56 times. Bids for 6.52 crore equity shares were received against a total offer size of 2.54 crore equity shares.
The retail half was 39 percent subscribed, while the institutional and rich investor portions were 7.49 times oversubscribed. The portion reserved for non-institutional investors was 1.07 times subscribed.
On the second day of the IPO, 20% of the shares were subscribed.
On January 24, Vedant Fashions gained approval from SEBI to undertake its first public offering. The offering is largely an offer-for-sale OFS of 3,63,64,838 equity shares by the promoter and present shareholders.
During the IPO, shares are available in a price range of Rs 824 to Rs 866 per equity share.
Up to 1.74 crore shares are being sold by Rhine Holdings Ltd, 7.23 lakh shares are being sold by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I, and 1.81 crore shares are being sold by Ravi Modi Family Trust.
Vedant Fashions’ ‘Manyavar‘ brand is a category leader in the branded Indian wedding and celebration apparel market, with a pan-India presence.
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