Bookbuilding IPO | ₹3,149 Cr | Listed at BSE, NSE | Fri, Feb 4, 2022 - Tue, Feb 8, 2022
Vedant Fashions IPO is a book build issue of ₹3,149.19 crores. The issue is entirely an offer for sale of 3.64 crore shares of ₹3,149.19 crore.
Vedant Fashions IPO bidding started from Feb 4, 2022 and ended on Feb 8, 2022. The allotment for Vedant Fashions IPO was finalized on Feb 11, 2022. The shares got listed on BSE, NSE on Feb 16, 2022.
Vedant Fashions IPO price band is set at ₹866 per share. The lot size for an application is 17. The minimum amount of investment required by an retail is ₹14,722 (17 shares) (based on upper price). The lot size investment for sNII is 14 lots (238 shares), amounting to ₹2,06,108, and for bNII, it is 68 lots (1,156 shares), amounting to ₹10,01,096.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Vedant Fashions IPO RHP for detailed Information.
IPO Open
Fri, Feb 4, 2022
IPO Close
Tue, Feb 8, 2022
Issue Price
₹866 per share
Market Cap (Pre-IPO)
₹21,017.37 Cr
| IPO Date | 4 to 8 Feb, 2022 |
| Listed on | Wed, Feb 16, 2022 |
| Face Value | ₹1 per share |
| Price Band | ₹824 to ₹866 |
| Issue Price | ₹866 per share |
| Lot Size | 17 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 3,63,64,838 shares (agg. up to ₹3,149 Cr) |
| Offer for Sale | 3,63,64,838 shares of ₹1 (agg. up to ₹3,149 Cr) |
| Share Holding Pre Issue | 24,26,94,774 shares |
| Share Holding Post Issue | 24,26,94,774 shares |
| BSE Script Code / NSE Symbol | 543463 / MANYAVAR |
| ISIN | INE825V01034 |
Vedant Fashions IPO offers total 3,63,64,838 shares. Out of which 1,81,82,418 (50.00%) allocated to QIB, 72,72,968 (20.00%) allocated to QIB (Ex- Anchor), 54,54,726 (15.00%) allocated to NII 1,27,27,694 (35.00%) allocated to RII and 1,09,09,450 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,81,82,418 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,09,09,450 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 72,72,968 (20.00%) | NA |
| NII (HNI) Shares Offered | 54,54,726 (15.00%) | NA |
| Retail Shares Offered | 1,27,27,694 (35.00%) | 7,48,687 |
| Total Shares Offered | 3,63,64,838 (100.00%) |
Investors can bid for a minimum of 17 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,722 |
| Retail (Max) | 13 | 221 | ₹1,91,386 |
| S-HNI (Min) | 14 | 238 | ₹2,06,108 |
| S-HNI (Max) | 67 | 1,139 | ₹9,86,374 |
| B-HNI (Min) | 68 | 1,156 | ₹10,01,096 |
Vedant Fashions IPO raises ₹944.76 crore from anchor investors. Vedant Fashions IPO Anchor bid date is February 3, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Feb 3, 2022 |
| Shares Offered | 1,09,09,450 |
| Anchor Portion (₹ Cr.) | 944.76 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Mar 13, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, May 12, 2022 |
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 September 30, 2021, the company had a retail footprint of 1.2 Mn sq. ft covering 535 EBOs (including 55 shop-in-shops) spanning 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada, and the UAE.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
| KPI | |
|---|---|
| RoNW | 12.19 |
| PAT Margin | 23.50% |
| EBITDA Margin | 49.88% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.36 | |
| P/E (x) | 106.78 | |
| Promoter Holding | 92.40% | 84.9% |
| Market Cap | ₹21,017.37 Cr. |
The Manyavar IPO is subscribed 2.57 times on February 8, 2022 5:00:00 PM (Day 3). The public issue subscribed 0.39 times in the retail category, 7.49 times in the QIB category, and 1.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 7.49 | 72,72,968 | 5,44,92,514 |
| NII | 1.07 | 54,54,726 | 58,55,038 |
| Retail | 0.39 | 1,27,27,694 | 50,25,166 |
| Total | 2.57 | 2,54,55,388 | 6,53,72,718 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers fees and commissions (including any underwriting commission, brokerage and selling commission) | 56.92 |
| 2 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDPs | 15.18 |
| 3 | Fees payable to Registrar to the Offer | 2.31 |
| 4 | Regulatory filing fees, including SEBI, BSE and NSE fees, book building software fees, listing fees, etc. | 18.54 |
| 5 | Printing and stationery | 2.38 |
| 6 | Fee payable to legal counsels | 7.22 |
| 7 | Advertising and marketing | 14.28 |
| 8 | Other advisors to the Offer including Independent Chartered Accountant, CRISIL Limited, and virtual data room provider | 5.58 |
| 9 | Miscellaneous | 2.54 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹866.00 | ₹866.00 |
| Open | ₹936.00 | ₹935.00 |
| Low | ₹921.00 | ₹920.00 |
| High | ₹993.00 | ₹992.70 |
| Last Trade | ₹934.85 | ₹933.55 |
Vedant Fashions IPO is a main-board IPO of 3,63,64,838 equity shares of the face value of ₹1 aggregating up to ₹3,149 Crores. The issue is priced at ₹866 per share. The minimum order quantity is 17.
The IPO opens on Fri, Feb 4, 2022, and closes on Tue, Feb 8, 2022.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Vedant Fashions IPO using UPI as a payment gateway. Zerodha customers can apply in Vedant Fashions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vedant Fashions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vedant Fashions IPO opens on Fri, Feb 4, 2022 and closes on Tue, Feb 8, 2022.
Vedant Fashions IPO lot size is 17, and the minimum amount required for application is ₹14,722.
You can apply in Vedant Fashions IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Vedant Fashions IPO will be done on Friday, February 11, 2022, and the allotted shares will be credited to your demat account by Tue, Feb 15, 2022. Check the Vedant Fashions IPO allotment status.
The Vedant Fashions IPO listing date is on Wed, Feb 16, 2022.
