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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:
| IPO Date | Feb 4, 2022 to Feb 8, 2022 |
| Listing Date | Feb 16, 2022 |
| Face Value | ₹1 per share |
| Price | ₹824 to ₹866 per share |
| Lot Size | 17 Shares |
| Total Issue Size | 36,364,838 shares (aggregating up to ₹3,149.19 Cr) |
| Offer for Sale | 36,364,838 shares of ₹1 (aggregating up to ₹3,149.19 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 7,272,968 (28.57%) |
| NII (HNI) Shares Offered | 5,454,726 (21.43%) |
| Retail Shares Offered | 12,727,694 (50.00%) |
| Total Shares Offered | 25,455,388 |
Manyavar IPO opens on Feb 4, 2022, and closes on Feb 8, 2022.
| Event | Tentative Date |
|---|---|
| Opening Date | Feb 4, 2022 |
| Closing Date | Feb 8, 2022 |
| Basis of Allotment | Feb 11, 2022 |
| Initiation of Refunds | Feb 14, 2022 |
| Credit of Shares to Demat | Feb 15, 2022 |
| Listing Date | Feb 16, 2022 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
The Manyavar IPO lot size is 17 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,722 |
| Retail (Max) | 13 | 221 | ₹191,386 |
| Lot Size Calculator | |||
Ravi Modi, Shilpi Modi and Ravi Modi Family Trust are the company promoters.
| Pre Issue Share Holding | 92.40% |
| Post Issue Share Holding | 84.9% |
| 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 | ||
[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...
The Manyavar IPO is subscribed 2.57 times on Feb 8, 2022 5:00:00 PM. 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) |
|---|---|
| QIB | 7.49 |
| NII | 1.07 |
| Retail | 0.39 |
| Total | 2.57 |
| Listing Date | Feb 16, 2022 |
| BSE Script Code | 543463 |
| NSE Symbol | MANYAVAR |
| ISIN | INE825V01034 |
| Final Issue Price | ₹866 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹866.00 |
| ₹936.00 |
| ₹921.00 |
| ₹993.00 |
| ₹934.85 |
| NSE |
|---|
| ₹866.00 |
| ₹935.00 |
| ₹920.00 |
| ₹992.70 |
| ₹933.55 |
Vedant Fashions Limited
Paridhan Garment Park, 19,
SDF-1, 4th Floor, A501-502,
Kolkata 700 015, West Bengal, India
Phone: +91 33 6125 5495
Email: complianceofficer@manyavar.com
Website: https://www.vedantfashions.com/
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: manyavar.ipo@kfintech.com
Website: https://karisma.kfintech.com/
Manyavar IPO is a main-board IPO of 36,364,838 equity shares of the face value of ₹1 aggregating up to ₹3,149.19 Crores. The issue is priced at ₹824 to ₹866 per share. The minimum order quantity is 17 Shares.
The IPO opens on Feb 4, 2022, and closes on Feb 8, 2022.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Manyavar IPO using UPI as a payment gateway. Zerodha customers can apply in Manyavar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Manyavar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Manyavar IPO opens on Feb 4, 2022 and closes on Feb 8, 2022.
Manyavar IPO lot size is 17 Shares and the minimum order quantity is .
You can apply in Manyavar IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Manyavar IPO will be done on Feb 11, 2022, and the allotted shares will be credited to your demat account by Feb 15, 2022. Check the Manyavar IPO allotment status.
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