Vedant Fashions IPO: Raises Rs. 945 Cr From Pre-IPO Anchor Round

9 February 2022
4 mins read
Vedant Fashions IPO: Raises Rs. 945 Cr From Pre-IPO Anchor Round

Vedant Fashions Ltd., the owner of Manyavar, conducted its anchor round on Thursday, 3 February 2022. This celebration and wedding wear brand raised around Rs. 945 crores from the anchor investors in this round ahead of its initial public offering. Vedant Fashions IPO is set to go live for subscription on Friday, 4 February 2022.

Read on to know more about it!

A Closer Look at the Anchor Round

In the pre-IPO round held on 3 February 2022, Vedant Fashions Ltd. allotted 1,09,09,450 shares to the anchor investors at Rs. 866 apiece. The set price is also equivalent to the upper price band of the public issue, allowing the company to raise a pre-IPO fund of Rs. 944.75 crores.

Some of the foreign investors who participated in this round are:

  • Government of Singapore

  • Fidelity Investments

  • Monetary Authority of Singapore

  • Abu Dhabi Investment Authority

  • Nomura

  • Morgan Stanley Asia (Singapore) Pte

  • Societe Generale

  • BNP Paribas Arbitrage

Other domestic investors from this anchor round are:

  • HDFC Life Insurance Company

  • SBI Mutual Fund (MF)

  • ICICI Prudential Life Insurance Company

  • Axis MF

  • ICICI Prudential MF

  • Kotak MF

  • Sundaram MF

  • Aditya Birla Sun Life MF

  • UTI MF

More Details on Vedant Fashions IPO

Vedant Fashions IPO or Manyavar IPO is solely an offer for sale. Existing shareholders like Rhine Holdings Ltd., Ravi Modi Family Trust and Kedaara Capital Alternative Investment Fund: Kedaara Capital AIF-I will sell their stake in this company through this OFS of 3,63,64,838 shares.

The divestment details are shown 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

The price band of Vedant Fashions IPO is set at Rs. 824 – Rs. 866 per equity share. Considering the upper band of the Manyavar IPO price, the company expects to raise around Rs. 3,149.19 crores via this public offering.

If you are keen on subscribing to Vedant Fashions’ public issue, take a note of the details in the table below.

Issue Type

Book-built

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

Time Table of Vedant Fashions IPO

Here is the timetable of this public offering to help you stay updated about the important dates.

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

Financial Highlights of the Company

In this table, you will find the financial highlights of Vedant Fashions for 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

Parting Thoughts

Vedant Fashions Ltd. got SEBI’s approval for its IPO on 18 January 2021. It is the owner of several celebration and wedding wear brands like Manyavar, Mohey, Manthan, Mebaz and Twamev. This company is a leader in its industry with a Pan India presence. The company’s most prominent brand Manyavar contributed around 84% to its revenue in FY 21. Mohey, another sub-brand, also contributed around 7.5% to Vedant’s revenue during the same period. Analysts also expect this brand to grow around 18-20% from FY 20 to FY 25.

Since Vedant Fashions IPO is purely an Offer for Sale, no part of the proceeds from this public issue will go to the company. Instead, the shareholders will receive the entirety of the funds garnered via this public issue. So, if you wish to subscribe to Vedant Fashions’ public issue, do so only after studying the company’s vision and financial history carefully.

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

Frequently Asked Questions

  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.

  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 is the registrar for Vedant Fashions IPO?

The registrar for this public issue is KFintech Private Limited.

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

The book running lead managers to the issue are –

  • ICICI Securities

  • Kotak Mahindra Capital

  • IIFL Securities

  • Edelweiss Financial Services

  • Axis Capital

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