Vedant Fashions IPO subscribed 21% on Day 2 of the offer

The IPO of Vedant Fashions, India’s leading ethnicwear maker, was subscribed 21 per cent on Monday, a day before its close. 

The retail portion of the issue was subscribed 31 per cent, while institutional and wealthy investor portions were subscribed 11 per cent and 9 per cent, respectively. 

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.