The Business Bytes
TBB BUREAU
BHUBANESWAR, JANUARY 28, 2022
Ethnic apparel retailer Vedant Fashions Ltd, which owns brands including ‘Manyavar’, ‘Mohey’, ‘Mebaz’, ‘Manthan’ and ‘Twamev’, will launch its initial public offering (IPO) on February 4.
The Kolkata-based company has fixed the price band of Rs 824-866 per share and the public issue is expected to fetch Rs 3,149 crore, at the upper end of the band.
The bidding for anchor investors will open on February 3.
Bids can be made for a minimum of 17 Equity Shares and in multiples of 17 Equity Shares thereafter.
The issue is entirely an offer for sale (OFS) of 36,364,838 equity shares of face value Re 1 each by promoters and existing shareholders aggregating to Rs 3,150 crore at the upper price band.
The company’s shares are expected to list on stock exchanges NSE and BSE on February 16, 2022.
