Vedant Fashions IPO to open next week: 10 key things to know before subscribing issue

Vedant Fashions IPO to open next week: 10 key things to know before subscribing issue

Vedant Fashions is the operator of Manyavar brand



Vedant Fashions, which owns ethnic wear brand Manyavar, will launch its initial public offering (IPO) next week on February 4. This would be the third public offer of this year after AGS Transact Technologies and Adani Wilmar.

Here are 10 key things to know about the public issue:

1) IPO Dates

The offer will open for subscription on February 4 and the closing date is February 8. Anchor book will open for a day on February 3, 2022.

2) Price Band

The price band of the IPO has been fixed at Rs 824-866 per equity share.

3) Public Issue Size

The company is planning to mobilise Rs 3,149.2 crore by offering 3,63,64,838 equity shares, which is entirely an offer for sale by investors and promoters.

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The offer for sale comprises 1,74,59,392 equity shares by Rhine Holdings, 7,23,014 equity shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF 1, and the remaining 1,81,82,432 equity shares by promoter Ravi Modi Family Trust.

4) Objectives of Issue

Vedant Fashions will not receive IPO proceeds as all the money will go to selling shareholders.

The objective of the offer are to achieve the benefits of listing the equity shares