Use app for best experience!
Available for Android Device.

Vedant Fashions Limited IPO Detail

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 ( 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 Trust

IPO Details

IPO Opening DateFeb 04, 2022
IPO Closing DateFeb 08, 2022
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹824 - 866 per equity share
Market Lot17 Shares
Min Order Quantity17 Shares
Listing AtBSE, NSE
Issue Size₹3,149.19 Cr
Fresh Issue-
Offer for Sale₹3,149.19 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

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 DateFeb 04, 2022
IPO Close DateFeb 08, 2022
Basis of Allotment DateFeb 11, 2022
Initiation of RefundsFeb 14, 2022
Credit of Shares to Demat AccountFeb 15, 2022
IPO Listing DateFeb 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding92.50%
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