Vedant Fashions IPO Date, GMP, Review, Price Details

Vedant Fashions IPO got SEBI’s nod to raise funds through an initial public offering. The IPO is purely an offer for sale (OFS) of 36,364,838 equity shares by the promoter and existing shareholders. The bidding for the issue will open on 4th February 2022 and will close on 8th February 2022.

The offer for sale comprises sale of up to 1.74 crore shares by Rhine Holdings Ltd, up to 1.81 crore shares by Ravi Modi Family Trust, and up to 7.23 lakh shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF.

Vedant Fashions Pvt Ltd owns the brand “Manyavar” which has a Pan-India presence. Leaders in the men’s Indian wedding and celebration wear market, the wear brand company is a known destination with a wide range of product offerings for every celebratory occasion. The company has a few other brands too like Twamev, Manthan, Mohey, and Mebaz.

vedant fashions ipo

Mohey was launched as a women’s wedding and celebration brand in 2015. In 2018, Vedant fashions acquired Mehbaz, a brand that caters to the entire family with a rich heritage. Vedant Fashions has three brands for men- Manyavar, Twamev (2019), and Manthan.

As of June 30, 2021, the company has a retail network with over 537 exclusive brand outlets, including 55 shop-in-shops globally. It has 12 overseas exclusive brand outlets across the United States, Canada, and the UAE, which are countries with a large Indian population. In FY21 the EBOs generated 44.22% of the total sales. The company has 399 vendors registered on their vendor portal and 70% of the franchisees have been operational for three years and more as of 30th June 2021.

Objectives Of Vedant Fashions IPO

  • Offloading of the equity shares and achieving the benefits of being listed on the stock exchanges.
  • The company seeks to grow our retail network and product reach by entering new geographies, including in tier-II and III towns and cities in India, as they believe that these markets offer significant growth opportunities.

Vedant Fashions IPO Promoters

  • Ravi Modi.
  • Shilpi Modi.
  • Ravi Modi Family Trust.

Company Financials

Particulars
(In cr)

Q1 ended 30th
June 2021

FY21

FY20

FY19

Revenue from operations

159.96

564.81

915.55

800.74

PAT

45.19

132.90

236.64

176.43

EPS (In Rs)

1.82

5.36

9.45

7.04

Vedant Fashions IPO Details

IPO Details Vedant Fashions
Issue Period Opening Date: 04-02-2022
Closing Date:   08-02-2022
Price Band ₹824 – ₹866 per equity share
Issue Size 36,364,838 Eq Shares of ₹1 face value
(aggregating up to ₹ [.])
Face Value ₹1 per equity share
Issue Type Book built issue
Fresh Issue N/A
Offer for sale 36,364,838 Eq Shares of ₹1 face value
(aggregating up to ₹ [.])
Listing NSE and BSE
Registrar KFin Technologies Private Limited

Vedant Fashions IPO Timeline

Vedant Fashions IPO will open on 4th February 2022 and the issue will close on 08th February 2022 at 5 pm.

IPO Opens 04-02-2022
IPO Ends 08-02-2022
Allotment Begins 11-02-2022
Refund Initiation 14-02-2022
Allotment Date 15-02-2022
Listing Date 16-02-2022

Vedant Fashions IPO Lot Size (Retail Individual Investors)

Applications Lots Shares Amount(Cut-off)
Minimum 1 17 ₹14,722
Maximum 13 221 ₹191,386

Vedant Fashions IPO Investor Category

Vedant Fashions IPO has 35% of the net offer under the Retail Category.

QIB (Qualified Institutional Buyers) 50% of net offer
NII (Non-Institutional Investors) 15% of net offer
RII (Retail Individual Investors) 35% of net offer

Vedant Fashions IPO GMP

The grey market premium of Vedant Fashions IPO has not yet started. The GMP is zero and will be updated once it starts trading in the grey market.

Vedant Fashions IPO Review

Vedant Fashions owned Manyavar is the leading brand in the Indian wedding and celebration market in FY20 and Vedant Fashions was also hailed as the largest company in the men’s Indian wedding and celebration market in FY20. With a diversified portfolio of various brands and a very strong business model, it is the amalgamation of physical retail stores and an omnichannel network.

With the above strengths there come a few risks too. As of now, no such reviews are available. A detailed review will be updated soon.

Vedant Fashions IPO Book Running Lead Manager(s)

  • Axis Capital.
  • Edelweiss Financial Services.
  • ICICI Securities.
  • IIFL Securities.
  • Kotak Mahindra Capital.

Vedant Fashions IPO Registrar

KFin Technologies Private Limited
Phone: 04067162222, 04079611000
Email: manyavar.ipo@kfintech.com
Website: www.kfintech.com

Company Contact Details

Vedant Fashions Limited
Paridhan Garment Park, 19,
SDF-1, 4th Floor, A501-502,
Kolkata 700 015, West Bengal, India
Phone: +91 33 6125 5495
Website: www.vedantfashions.com

 

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