Vedant Fashions IPO: Know more details on the offering

7 February 2023
4 mins read
Vedant Fashions IPO: Know more details on the offering

Vedant Fashions Ltd. fixed the price band of its shares for its initial public offering at Rs. 824 – Rs. 866 apiece. This company’s IPO is set to open for subscription on 4 February 2022 and close on 8 February 2022. In addition, these shares will hit the bourses on 16 February 2022.

Let’s take a closer look!

Highlights of Vedant Fashions IPO

Vedant Fashions Ltd. got SEBI’s approval for its IPO on 18 January 2022. According to the company’s draft red herring prospectus filed with SEBI, Vedant Fashions Ltd. plans to raise around Rs. 3,149.19 crores through this public issue. This public offering will entirely be an OFS comprising 3,63,64,838 equity shares.

The objectives of Vedant Fashions IPO are:

  • Carrying out the sale of 3,63,64,838 equity shares by existing shareholders

  • Reaping the benefits of listing shares on both the bourses

If you are thinking about subscribing to this company’s public offering, check out the details of this initial public offering in the table below.

Issue Type

Book-built

Price Band

Rs. 824 – Rs. 866 per equity share

Face Value

Rs. 1 per equity share

Lot Size

17 shares

Maximum Order Quantity

13 lots (221 shares)

Listing at

Both BSE and NSE

Minimum Cut-off Amount (1 Lot)

Rs. 14,722

Maximum Cut-off Amount (13 Lots)

Rs. 1,91,386

Rhine Holdings Ltd., Kedaara Capital Alternative Investment Fund: Kedara Capital AIF-I, Ravi Modi Family Trust will sell their existing stake in the company comprising 3,63,64,838 equity shares. Find the OFS break-up in the table below.

Ravi Modi Family Trust

1.81 crore shares

Rhine Holdings Ltd.

1.74 crore shares

Kedaara Capital Alternative Investment Fund: Kedaara Capital AIF-I

7.23 lakh shares

Vedant Fashions IPO Dates

Go through the timetable below to stay updated about the important dates for this initial share sale.

Opening on

4 February 2022

Closing on

8 February 2022

Basis of Allotment

11 February 2022

Initiation of Refunds

14 February 2022

Credit of Shares to Demat Account

15 February 2022

IPO Listing Date

16 February 2022

Know About the Company

Vedant Fashions is the owner of several wedding and celebration wear brands like Manyavar, Mebaz, Mohey, Twamev and Manthan. This industry-leading company has a Pan India presence with a retail footprint of 1.2 million square feet, including 535 EBOs (exclusive brand outlets) as of 30 September 2021.

Vedant Fashions operates in 212 towns and cities in the nation and also has 11 EBOs abroad across USA, Canada and UAE. The company’s business model also includes LFSs (large format stores), MBOs (multi-brand outlets) and online platforms such as its official website and mobile app.

Financial Highlights of Vedant Fashions

Take a look at this table below to know about the financial highlights of Vedant Fashions in the past two years.

FY ending on

Total Assets

Total Revenue

Profit After Tax

31 March 2021

16,256.53

6,250.19

1,329.03

31 March 2020

15,915.53

9,479.76

2,366.37

Note: Values are in Rs. millions

Bottom Line

Since this initial public offering is purely an Offer for Sale, Vedant Fashions Ltd. will not receive any part of the proceeds garnered from this share sale. All the funds raised through this IPO will go to the selling shareholders instead. So, if you are thinking of subscribing to this company’s public issue, do so only after careful study and thorough research.

You can also keep an eye on Angel One blogs for more IPO, stock market and business-related news.

Source: Moneycontrol

Frequently Asked Questions

  1. Who are the promoters of Vedant Fashions Ltd.?

Shilpi Modi, Ravi Modi, and Ravi Modi Family Trust are the company’s promoters for this initial public offering.

  1. Who are the book running lead managers to Vedant FashionsIPO?

The book running lead managers to the issue are –

  1. How much of this initial share sale is reserved for QIBs?

Vedant Fashions has reserved a maximum of 50% of the offered shares for QIBs in this public issue.

Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.