Vedant Fashions Limited IPO Detail
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 June 30, 2021, the company had a retail footprint of 1.1 Mn sq. ft covering 525 EBOs (including 55 shop-in-shops) spanning 207 cities and towns in India, and 12 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 TrustIPO Details
| IPO Opening Date | Feb 04, 2022 |
| IPO Closing Date | Feb 08, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹1 per equity share |
| IPO Price | ₹824 - 866 per equity share |
| Market Lot | 17 Shares |
| Min Order Quantity | 17 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹3,149.19 Cr |
| Fresh Issue | - |
| Offer for Sale | ₹3,149.19 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.06x | - | - | 0.06x | 0.22x | 0.14x |
| Day 2 | 0.11x | - | - | 0.08x | 0.32x | 0.21x |
| Day 3 | 7.5x | - | - | 1.07x | 0.4x | 2.57x |
IPO Tentative Timetable
The Vedant Fashions Limited IPO open date is Feb 04, 2022, and the close date is Feb 08, 2022. The issue may list on Feb 16, 2022.
| IPO Open Date | Feb 04, 2022 |
| IPO Close Date | Feb 08, 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 |
IPO Lot Size
The Vedant Fashions Limited IPO market lot size is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹191386).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 17 | ₹14722 |
| Maximum | 13 | 221 | ₹191386 |
IPO Promoter Holding
| Pre Issue Share Holding | 92.50% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Millions)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Jun-21 | 16,636.29 | 1,784.84 | 451.87 |
| 31-Mar-21 | 16,256.53 | 6,250.19 | 1,329.03 |
| 31-Mar-20 | 15,915.53 | 9,479.76 | 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 Limited IPO Registrar:
KFin Technologies Limited
Vedant Fashions Limited IPO Lead Manager(s):
Axis Capital Limited, Edelweiss Financial Services Ltd, ICICI Securities Limited, IIFL Securities Ltd, Kotak Mahindra Capital Company Limited
Company Contact Information:
Vedant Fashions Limited
Paridhan Garment Park, 19,
SDF-1, 4th Floor, A501-502,
Kolkata 700 015, West Bengal, India
