The three-day initial public offering (IPO) of Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, will open for public subscription on Friday, February 4, 2022, and conclude on February 8. The price band has been fixed at Rs 824-866 for its initial share sale.

Public issue is purely an offer for sale of 36,364,838 equity shares by a promoter and existing shareholders. The company will raise to Rs 3,149 crore at the upper price band through the IPO.

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As per market observers, Vedant Fashions shares premium (GMP) has slipped to ₹43 in the grey market today. The company’s shares are expected to list on stock exchanges NSE and BSE on February 16, 2022.