Vedant Fashions Limited IPO (Manyavar IPO) Detail
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:
- Market leader in the Indian celebration wear market
- Large and growing Indian wedding and celebration wear market
- Omni-channel network of seamlessly integrated business
- Technology-based strong supply chain and inventory systems
- The experienced and professional leadership team
Objects of the Issue:
The IPO aims to utilize the net proceed for the following objectives;
- To achieve the benefits of listing the equity shares on the stock exchanges; and
- To carry out the Offer for Sale of up to 36,364,838 equity shares by the selling shareholders.
Manyavar IPO Tentative Timetable
The Manyavar IPO open date is Feb 4, 2022, and the close date is Feb 8, 2022. The issue may list on Feb 16, 2022.
| IPO Open Date | Feb 4, 2022 |
| IPO Close Date | Feb 8, 2022 |
| Basis of Allotment Date | Feb 11, 2022 |
| Initiation of Refunds | Feb 14, 2022 |
| Credit of Shares to Demat Account | Feb 15, 2022 |
| IPO Listing Date | Feb 16, 2022 |
