Can you tell me about the details of the Vedant IPO?

Here is what you need to know about the Vedant Fashions IPO.

· Vedant Fashions owns ethnic wear brand Manyavar and other such ethnic brands catering to the Indian celebration market.

· The IPO price has been fixed in the band of Rs.824 to Rs.866 per share and the entire IPO will be an offer for sale of Rs.3,149 crore.

· The IPO will open on 04-Feb and close for subscription on 08-Feb, while the anchor investors will bid on 03-February. Total public issue will be for 363.65 lakh shares.

· Key shareholders participating in the OFS will include Rhine Holdings Ltd and Kedaara Capital Alternative Investment Fund.

· While 50% is reserved for qualified institutional buyers, 35% is for retail investors and the remaining 15% for non-institutional investors.

· Investors can bid for a minimum of 17 equity shares and in multiples thereof subject to retail investor ceiling of Rs.2 lakhs.