Private Equity

Liquidity Events

Vedant Fashions IPO subscribed nearly 3 times

Business Standard  

The INR 3,150-crore IPO of Kolkata-based Vedant Fashions was subscribed nearly three times on the final day. The institutional investor portion of the IPO saw 7.5 times oversubscription, the HNI portion was subscribed more than one time, while the retail portion remained undersubscribed at 40%. The issue garnered more than 250,000 applications. The price band for the IPO was set at INR 824-866 per share. At the top-end, the company is valued at around INR 21,000 crore. Vedant Fashions is an ethnic wear retailer and owns brands such as Manyavar, Mohey and Mebaz.

From the Venture Intelligence PE-VC Deal Database: In Aug-17 Kedaara Capital had invested INR 450 crores in Manyavar (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)