Vedant Fashions IPO subscribed 14% on opening day on retail interest

The retail portion of the issue was subscribed 22%, while institutional and HNI were subscribed 6% each

The IPO of Vedant Fashions, India’s leading ethnic wear maker, was subscribed 14 per cent on Friday, the first day of the issue.

The retail portion of the issue was subscribed 22 per cent, while institutional and wealthy investor portions were subscribed 6 per cent each.

The IPO comprises secondary share sale worth Rs 3,149 crore. The company has already raised worth Rs 945 crore from anchor investors.

The price band for the IPO has been set at Rs 824-866 per share. At the top-end, the company is valued at Rs 21,017 crore.