Comments
Ravi Modi Family Trust, promoter of Vedant Fashions Ltd, plans to sell about 1.70 crore shares of Vedant Fashions Limited, representing 7 per cent of the total issued and paid-up on Thursday for non-retail investors and on Friday for retail investors. The offer for sale will also have an green-shoe option to additionally sell another 69.88 lakh shares (2.88 per cent) in the event of oversubscription .
The floor price of the offer has been fixed as ₹1,161, in sharp discount to the today’s closing price of ₹1,246.85.
The offer is being made to meet SEBI’s minimum public shareholding norm of the company.
Currently, promoters hold 84.88 per cent stake in the company.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.