Vedant Fashions IPO day 1 | Issue subscribed 7%, retail portio | Start Learning

Vedant Fashions IPO day 1 | Issue subscribed 7%, retail portion booked 11%

Vedant Fashions IPO | The largest company in India in men's

The initial public offering of Vedant Fashions, bids for 17.25 lakh equity shares against an IPO size of 2.54 crore units, subscribing 7 percent on February 4, the first day of bidding

Retail investors was subscribed 11 percent, and that of non-institutional investors saw 5 percent subscription.

Qualified institutional investors are yet to invest in the IPO. Half of the offer is reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.

The country's largest company plans to raise Rs 3,149.19 crore through the public issue. It mobilised Rs 944.75 crore out of this from anchor investors on February 3.

It is a complete offer-for-sale by promoter and investors. The price band for the offer, which closes on February 8.

The company has the highest number of exclusive brand outlets (EBOs)
Operating margin at 43 percent and return on capital employed at 41 percent, which is highest vis-à-vis its peer brands," said Canara Bank Securities.