Vedant Fashions, the owner of Manyavar, will launch its initial public offering on Feb 4th
Vedant Fashions – The owner of ethnic wear labels such as ‘Manyavar‘ and ‘Mohey,’ Vedant Fashions Limited, will launch its initial public offering (IPO) next week. The issue will be on sale on February 4th and will be available till February 8th.
SEBI gave Vedant Fashions permission to make its initial public offering (IPO) on January 24. The issuance is primarily an offer-for-sale OFS by the promoter and current shareholders of 3,63,64,838 equity shares.
During the IPO, shares would be available in a price range of Rs 824 to Rs 866 per equity share.
Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF is selling up to 1.74 crore shares from Rhine Holdings Ltd. Ravi Modi Family Trust and I are selling up to 7.23 lakh shares.
and Ravi Modi Family Trust is selling up to 1.81 crore shares.
Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities, and Kotak Mahindra Capital are the issue’s book running lead managers.
On February 11, 2022, the shares will be distributed. The IPO’s lot size is 17 shares, which will set you back Rs 14,722. By paying Rs 1,91,386 on 13 lots or 221 shares, a retail individual investor can apply for up to 13 lots or 221 shares.
On February 16, the stock is expected to be launched on the BSE and NSE.
Vedant Fashions – Owner of Manyawar to launch public offering
Vedant Fashions’ ‘Manyavar‘ brand is a category leader in the branded Indian wedding and celebration apparel market, with a pan-India presence. The company’s other brands include Twamev, Manthan, Mohey, and Mebaz.
As of September 2021, the firm had a global retail network of 546 exclusive brand outlets (EBOs), comprising 58 shop-in-shops — 11 international EBOs in countries with a strong Indian diaspora, such as the United States, Canada, and the United Arab Emirates.
As of September 2021, the company’s EBO network in India covered 212 cities and municipalities.
“By expanding into new locations, such as Tier II and III cities in India, we hope to enhance our retail network and product reach,” the company adds.
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