homemarket Newsstocks NewsVedant Fashions IPO subscribed 2.6 times on final day

Vedant Fashions IPO subscribed 2.6 times on final day

Vedant Fashions IPO subscribed 2.6 times on final day
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By CNBCTV18.com Feb 8, 2022 4:07:03 PM IST (Updated)

Vedant Fashions IPO: The initial share sale of Vedant Fashions -- which owns brands such as Manyavar and Mohey -- opened for subscription on February 4.

Vedant Fashions' initial public offer (IPO) to raise up to Rs 3,149 crore was fully subscribed on Tuesday, the third and final day of the bidding process. At the end of the day, the IPO of Vedant Fashions -- which owns brands such as Manyavar and Mohey -- received bids for 6.5 crore crore shares as against the 2.5 crore shares on offer, an overall subscription of 2.6 times.

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The portion reserved for qualified institutional buyers (QIBs) was subscribed 7.5 times, and that for non-institutional investors (NIIs) 1.1 times. The quota reserved for retail investors saw a subscription of 39 percent.
Bidding for the IPO of Kolkata-based Vedant Fashion opened for subscription on February 4. The IPO was entirely an offer for sale (OFS) by promoters and existing shareholders.
Under the IPO, shares were available for bidding in a price band of Rs 824-866 in multiples of 17.
Ahead of the IPO, Vedant Fashions said it had garnered Rs 945 crore from anchor investors.

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Vedant Fashions, a retail fashion brand, also owns and operates brands such as Twamev, Manthan, Mohey and Mebaz.
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