Ravi Modi Family Trust, the promoter of Vedant Fashions, plans to sell 7% stake in the company through an OFS. The offer is being proposed with an option to sell an additional 2.88% stake in the event of oversubscription. The floor price is fixed as Rs 1,161 per share, which is nearly 7% discount to the last closed price.
Last reported shareholding pattern shows promoter holding as 84.87% (screener).
If additional 2.88% stake is also sold, maximum 75% promoter holding direction will be complied.
Disc-Interested, Not invested.
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