Ongoing market turmoil to not impact IPO valuation: Vedanta Fashions

The ongoing correction in capital market has not dented valuation of Kolkata-based ethnic wear major Vedant Fashions’ initial public offer that aims to raise Rs 3,149 crore, a company official said on Friday.

The company, whose flagship brand is the male ethic brand ‘Manyavar’, has fixed its upper issue price band at Rs 824-866 a share, a company official said.

BSE Sensex has seen about 4300 point correction since early January amid highly volatile trading sessions.

The company official said the pricing was decided after feedback from institutional investors who have shown high demand interest for the shares.

The company officials said initially it was estimated to raise Rs 2500 crore. However, with better valuations the company will raise upto Rs 3,149 crore at the upper price band through the IPO.

The ongoing correction in capital market has not dented valuation of Kolkata-based ethnic wear major Vedant Fashions’ initial public offer that aims to raise Rs 3,149 crore, a company official said on Friday.

The company, whose flagship brand is the male ethic brand ‘Manyavar’, has fixed its upper issue price band at Rs 824-866 a share, a company official said.

BSE Sensex has seen about 4300 point correction since early January amid highly volatile trading sessions.

The company official said the pricing was decided after feedback from institutional investors who have shown high demand interest for the shares.

The company officials said initially it was estimated to raise Rs 2500 crore. However, with better valuations the company will raise upto Rs 3,149 crore at the upper price band through the IPO.
 

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