Vedanta Fashion IPO to open next week: 10 things to know before subscribing to the issue

Here are 10 key details to know before subscribing to Issue:

IPO Dates: The IPO of Vedanta Fashion is going to open for bidders on 4th February 2022 and will be open for subscription till 8th February 2022.

Price Band: is fixed at the price band of 824 to at 866 per equity share and it will be 100% Offer for Sale (OFS) in nature.

Size of public issue: Public issue is purely an offer for sale of 3,63,64,838 equity shares by the promoter and existing shareholders. Vedanta Fashion Company aims to raise 3,149.19 crore from its public offering, which is 100% offer for sale. Since the IPO is an outright sale offer, the company will not receive any proceeds from the public issue.

Objectives of the issue: The objective of Vedanta Fashion IPO is to utilize the net proceeds to realize the benefits of listing equity shares on stock exchanges and offer for sale 36,364,838 equity shares by the selling shareholders.

input range: Vedanta Fashion will allow a bidder to apply for a minimum of one lot and a maximum of 13 lots, one can invest in this IPO with a minimum amount 14,722.

Vedanta Fashion IPO Allotment Date: The tentative date for allotment of shares is February 11, 2022.

Vedanta Fashion IPO Listing: The shares of the fashion company will be listed on both BSE and NSE.

Vedanta Fashion IPO Listing Date: The shares of Vedanta Fashion are likely to be listed on February 16, 2022.

Company Profile: Vedanta Fashion has a retail presence in over 200 cities in India and three countries in the United Arab Emirates, Canada and the United States. According to the company, it plans to double its overseas store floor area in the next few years. Its ‘Manyavar’ brand accounts for about 80% of its revenue and company executives said they are confident that its other new brands will be strong in the years to come. The company’s other brands include Tvmev, Manthan, Mohe and Mebaaz.

Vedanta Fashion IPO Promoter: The promoters of the company are Ravi Modi, Shilpi Modi and Ravi Modi Family Trust. The OFS includes sale of 1.74 crore shares by Rhine Holdings Limited, up to 7.23 lakh shares by Kedara Capital Alternative Investment Fund-Kedara Capital AIF I and 1.81 crore shares by Ravi Modi Family Trust.

Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities and Kotak Mahindra Capital are the book running lead managers of the issue.