Vedant Fashions Ltd., which owns the Manyavar brand, will float its IPO or initial public offering on 4 February 2022. According to its red herring prospectus, its initial share sale will end on 8 February 2022. If you are keen on investing in this company, check out some details of its IPO below. Let’s start!
Key Highlights of Vedant Fashions Ltd.
- This IPO is a pure offer of sale. Therefore, there will be no fresh issuance of shares.
- In total, 3,63,64,838 equity shares will be sold by existing shareholders and promoters of this company.
- The break up of this OFS is as follows:
|Rhine Holdings Ltd.||1.74 crore shares|
|Kedaara Capital Alternative Investment Fund: Kedara Capital AIF-I||7.23 lakh shares|
|Ravi Modi Family Trust||1.81 crore shares|
- This company filed its preliminary IPO papers in September and received the go-ahead from SEBI in the form of an observance letter on 18 January 2022.
Know About the Company
Vedant Fashions owns the Manyavar brand. The brand is an industry leader in the wedding and celebration wear segment. Other brands of the company include Mohey, Mebaz, Manthan and Twamev.
This company has a pan India presence.
This company has several brand outlets to the tune of 546 retail outlets. Moreover, there are 58 shop-in-shops globally.
Further, this company caters to a large Indian diaspora by having 11 exclusive stores across the United States, UAE, and Canada.
Note that since the IPO is a purely Offer of Sale, the company will not receive any proceeds from the sale. Hence, all the funds raised from the IPO will go to the promoters. Therefore, if you wish to invest in the company, do so after research and careful study of the company’s prospects.
Frequently Asked Questions
- Who are some promoters of Vedant Fashions Ltd.?
Ans. Ravi Modi, Ravi Modi Family Trust, and Shilpi Modi are the company’s promoters.
- Who are the book running lead managers to the issue?
Ans. The book running lead managers to the issue are:
- How many countries and cities does the Vedant Fashions Ltd. encompass?
Ans. This company’s EBO network spans 212 cities and towns as of September 2021.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.