Vedant Fashions IPO sails through on final day, gets subscribed 2.6x

The Rs 3,150-crore IPO of Kolkata-based Vedant Fashions was subscribed nearly three times on Tuesday

The institutional investor portion of the IPO saw 7.5 times oversubscription, the wealthy investor portion was subscribed more than one time, while the retail portion remained undersubscribed at 40 per cent.

The issue garnered more than 250,000 applications. Vedant Fashions is India’s leading ethnic wear retailer and owns brands such as Manyavar, Mohey and Mebaz.

The price band for the IPO was set at Rs 824-866 per share. At the top-end, the company is valued at around Rs 21,000 crore.