Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers a one-stop destination with a wide-spectrum of product offerings for every celebratory occasion to its customers.
The company’s brands include (i) Manyavar, (ii) Mohey, (iii) Mebaz, (iv) Manthan, and (v) Twamev. Vedant Fashions was the largest in India in the men’s Indian wedding and celebration wear segment in terms of revenue, OPBDIT, and profit after tax for the Financial Year 2020.
The company operates its business through franchise-owned exclusive brand outlets (EBOs), with the remaining by multi-brand outlets (MBOs), large format stores (LFSs), and online platforms, including its website (www.manyavar.com) and mobile application.
As of September 30, 2021, the company had a retail footprint of 1.2 Mn sq. ft covering 535 EBOs (including 55 shop-in-shops) spanning 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada, and the UAE.
Competitive Strengths:
- Market leader in the Indian celebration wear market
- Large and growing Indian wedding and celebration wear market
- Omni-channel network of seamlessly integrated business
- Technology-based strong supply chain and inventory systems
- The experienced and professional leadership team
Company Promoters:
Ravi Modi, Shilpi Modi and Ravi Modi Family Trust are the company promoters.
Company Financials:
| Particulars | For the year/period ended (₹ in Millions) | ||
|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 14,455.03 | 16,256.53 | 15,915.53 |
| Total Revenue | 3,872.90 | 6,250.19 | 9,479.76 |
| Profit After Tax | 984.07 | 1,329.03 | 2,366.37 |
Objects of the Issue:
The IPO aims to utilize the net proceed for the following objectives;
- To achieve the benefits of listing the equity shares on the stock exchanges; and
- To carry out the Offer for Sale of up to 36,364,838 equity shares by the selling shareholders.
Vedant Fashions IPO Details
| IPO Opening Date | Feb 4, 2022 |
| IPO Closing Date | Feb 8, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹1 per equity share |
| IPO Price | [.] to [.] per equity share |
| Market Lot | |
| Min Order Quantity | |
| Listing At | BSE, NSE |
| Issue Size | 36,364,838 Eq Shares of ₹1 (aggregating up to ₹[.] Cr) |
| Offer for Sale | 36,364,838 Eq Shares of ₹1 (aggregating up to ₹[.] Cr) |
Vedant Fashions IPO Tentative Timetable
The Vedant Fashions IPO open date is Feb 4, 2022, and the close date is Feb 8, 2022. The issue may list on Feb 16, 2022.
| IPO Open Date | Feb 4, 2022 |
| IPO Close Date | Feb 8, 2022 |
| Basis of Allotment Date | Feb 11, 2022 |
| Initiation of Refunds | Feb 14, 2022 |
| Credit of Shares to Demat Account | Feb 15, 2022 |
| IPO Listing Date | Feb 16, 2022 |
Vedant Fashions IPO Promoter Holding
| Pre Issue Share Holding | 92.40% |
| Post Issue Share Holding |
Company Contact Information
Vedant Fashions Limited
Paridhan Garment Park, 19,
SDF-1, 4th Floor, A501-502,
Kolkata 700 015, West Bengal, India
Phone: +91 33 6125 5495
Email: complianceofficer@manyavar.com
Website: https://www.vedantfashions.com/
Vedant Fashions IPO Registrar
KFintech Private Limited
Phone: 04067162222, 04079611000
Email: manyavar.ipo@kfintech.com
Website: https://karisma.kfintech.com/