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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 ₹866.00 per share . The lot size for an application is 17. The minimum amount of investment required by an retail is ₹14,008 (17 shares). 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 Date | February 4, 2022 to February 8, 2022 |
| Listing Date | February 16, 2022 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹824 to ₹866 per share |
| Issue Price Final | ₹866 per share |
| Lot Size | 17 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 3,63,64,838 shares (aggregating up to ₹3,149.19 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 24,26,94,774 shares |
| Share Holding Post Issue | 24,26,94,774 shares |
Manyavar 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, 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 | Maximum 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%) |
Vedant Fashions IPO raises ₹944.76 crore from anchor investors. Vedant Fashions IPO Anchor bid date is February 3, 2022. Vedant Fashions IPO Anchor Investors list
| Bid Date | February 3, 2022 |
| Shares Offered | 1,09,09,450 |
| Anchor Portion Size (In Cr.) | 944.76 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 13, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 12, 2022 |
Vedant Fashions IPO opens on February 4, 2022, and closes on February 8, 2022.
| IPO Open Date | Fri, Feb 4, 2022 |
| IPO Close Date | Tue, Feb 8, 2022 |
| Tentative Allotment | Fri, Feb 11, 2022 |
| Initiation of Refunds | Mon, Feb 14, 2022 |
| Credit of Shares to Demat | Tue, Feb 15, 2022 |
| Tentative Listing Date | Wed, Feb 16, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Feb 8, 2022 |
Investors can bid for a minimum of 17 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | |||
| Total Assets | 14,455.03 | 16,256.53 | 15,915.53 | ||
| Total Revenue | 3,872.90 | 6,250.19 | 9,479.76 | ||
| Profit After Tax | 984.07 | 1,329.03 | 2,366.37 | ||
The market capitalization of Vedant Fashions IPO is ₹21017.37 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 106.78 |
[Dilip Davda] Though this company suffered a setback for FY21 on account of pandemics, it maintained its margins and posted profits in commensuration with top lines. We have a recent case of loss-making women bottom wear company Go Fashion in the recent past which surprised one and all. This profit-making company may surprise all post listing. Risk seekers may consider an investment with a long term perspective. Read detail review...
| Listing Date | February 16, 2022 |
| BSE Script Code | 543463 |
| NSE Symbol | MANYAVAR |
| ISIN | INE825V01034 |
| Final Issue Price | ₹866 per share |
| BSE Listing Group | B |
Vedant Fashions Ltd.
Paridhan Garment Park, 19,
SDF-1, 4th Floor, A501-502,
Kolkata 700 015, West Bengal, India
Kolkata, West Bengal
Phone: +91 33 6125 5495
Email: complianceofficer@manyavar.com
Website: https://www.vedantfashions.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: manyavar.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Vedant Fashions IPO is a main-board IPO of 3,63,64,838 equity shares of the face value of ₹1 aggregating up to ₹3,149.19 Crores. The issue is priced at ₹866 per share. The minimum order quantity is 17.
The IPO opens on February 4, 2022, and closes on February 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 February 4, 2022 and closes on February 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 Tuesday, February 15, 2022. Check the Vedant Fashions IPO allotment status.
The Vedant Fashions IPO listing date is on Wednesday, February 16, 2022.
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