Vedant Fashions will make its market debut on February 16 in what would be the third listing of 2022 after AGS Transact Technologies and Adani Wilmar. Vedant Fashions, which closed its initial public offering (IPO) on February 8, is expected to announce the share allotment on February 11.

Qualified institutional investors supported the issue in a big way, putting in bids 7.49 times the allotted quota during the February 4-8 subscription period, as retail investors remained cool to the offer. The retail portion was booked 39 percent and that of non-institutional investors 1.07 times. The IPO was subscribed 2.57 times.

The company that caters to the Indian celebration wear market with flagship brand Manyavar and other four brands raised Rs 3,149 crore at the upper price band. The price band for the offer was Rs 824-866 a Saree It was a complete offer for sale by the promoter and investors hence, the company will not receive any money from the offer.