Vedant Fashions limited is all set to open for its initial public offering (IPO) next week. Vedant Fashions Limited offers an array of Indian celebration wear market with a diverse portfolio of brands, including the popular ethnic wear brand Manyavar.

Here are 10 key details to know before subscribing issue:

IPO dates: Vedant Fashions IPO is going to open for bidders on February 4, 2022 and it will remain open for subscription till February, 8 2022.

Price band: The price band of has been fixed at Rs824 to at Rs866 per equity share and it will be 100% offer-for-sale (OFS) in nature.

Public issue size: The public issue is purely an offer-for-sale of 3,63,64,838 equity shares by the promoter and existing shareholders. Vedant Fashions company aims to raise Rs3,149.19 crore from its public offer, which is 100% offer-for-sale. Since the IPO is entirely an offer for sale, the company will not receive any proceeds from the public issue.

Objectives of the issue: Vedant Fashions IPO aims to utilize the net proceed to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the offer-for-sale of up to 36,364,838 equity shares by the selling shareholders.

Investment limit: Vedant Fashions will allow one bidder to apply for minimum one lot and maximum 13 lots, one can invest in this IPO with a minimum amount of Rs14,722.

Vedant Fashions IPO allotment date: The tentative date for share allocation is February 11, 2022. 

Vedant Fashions IPO listing: Shares of the fashion company will be listed on both BSE and NSE. 

Vedant Fashions IPO listing date: Shares of Vedant Fashions is likely to list on February 16, 2022.

Company profile: Vedant Fashions has a retail presence in over 200 cities within India and three countries in UAE, Canada and the United States. As per the company, it plans to double its overseas store floor area in the next few years. Its 'Manyavar' brand accounts for about 80% of its revenue and the company officials said it was confident that its other newer brands will grow stronger in the years to come. The company's other brands include Twamev, Manthan, Mohey and Mebaz.

Vedant Fashions IPO promoters: The promoters of the company are Ravi Modi, Shilpi Modi and Ravi Modi Family Trust. The OFS comprises sale of up to 1.74 crore shares by Rhine Holdings Ltd, up to 7.23 lakh shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I, and up to 1.81 crore shares by Ravi Modi Family Trust.

Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities and Kotak Mahindra Capital are the book running lead managers to the issue.