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Vedant Fashions Limited IPO (Manyavar IPO) Detail

Feb 4, 2022 - Feb 8, 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:

  • 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

Company Financials:

Summary of financial Information (Restated Consolidated)
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

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 Details

Manyavar IPO Date Feb 4, 2022 to Feb 8, 2022
Manyavar IPO Face Value ₹1 per share
Manyavar IPO Price ₹824 to ₹866 per share
Manyavar IPO Lot Size 17 Shares
Issue Size36,364,838 shares of ₹1
(aggregating up to ₹3,149.19 Cr)
Offer for Sale36,364,838 shares of ₹1
(aggregating up to ₹3,149.19 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
QIB Shares OfferedNot more than 50% of the offer
Retail Shares OfferedNot less than 35% of the offer
NII (HNI) Shares OfferedNot less than 15% of the offer
Company Promoters

Ravi Modi, Shilpi Modi and Ravi Modi Family Trust are the company promoters.

Manyavar IPO Timeline (Tentative Timetable)

Manyavar IPO opens on Feb 4, 2022, and closes on Feb 8, 2022. The Manyavar IPO bid date is from Feb 4, 2022 10.00 A.M. to Feb 8, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Manyavar IPO Opening Date Feb 4, 2022
Manyavar IPO 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
Manyavar IPO Listing Date Feb 16, 2022

Manyavar IPO Lot Size

The Manyavar IPO lot size is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹191,386).

Application Lots Shares Amount
Minimum 1 17 ₹14,722
Maximum 13 221 ₹191,386

Manyavar IPO Promoter Holding

Pre Issue Share Holding 92.40%
Post Issue Share Holding 84.9%

Manyavar IPO Review

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...

New Manyavar IPO Recommendation by Members

Manyavar IPO Recommendations Details | Post Recommendation | Manage Recommendations

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Manyavar IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
QIB7.49
NII1.07
Retail0.39
Total2.57

Manyavar IPO Prospectus

Manyavar IPO Rating

858
3.4
Rating:Rated 3.4 stars
Vote Here ...

Manyavar IPO Listing Date

Listing Date Wednesday, February 16, 2022
BSE Script Code 543463
NSE Symbol MANYAVAR
Listing In B Group of Securities
ISIN INE825V01034
IPO Price ₹866 per share
Face Value ₹1 per share

Listing Day Trading Information

.
IPO 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

Company Contact Information

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/

Manyavar IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: manyavar.ipo@kfintech.com
Website: https://karisma.kfintech.com/

Manyavar IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Manyavar IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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, Edelweiss, 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.

The Manyavar IPO listing date is on Wednesday, February 16, 2022.
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Manyavar IPO Message Board

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656 Comments

265. arunARUN |   Link |Feb 22, 2022 10:32:29 AM
IPO Guru IPO Guru (1200+ Posts, 1000+ Likes)
Gone below issue price. Given general blood shed in IPO shares it is not surprising
265.1. ipobull |   Link |Feb 24, 2022 10:18:24 AM
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
Read my message no. 261
264. arunARUN |   Link |Feb 21, 2022 1:00:49 PM
IPO Guru IPO Guru (1200+ Posts, 1000+ Likes)
Will it break its IPO price level today is an interesting question? Already low for today is around 874. However it has held on well so far
263. arunARUN |   Link |Feb 19, 2022 7:33:07 PM
IPO Guru IPO Guru (1200+ Posts, 1000+ Likes)
It is surprising to note that people think that they can read operator's game and ride with them and get off without risk?
Why we dont learn lesson from recent history itself?
262. ipobull |   Link |Feb 17, 2022 1:18:04 PM
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
Up run in Manyavar is over. One may exit the stock. Happy that I have exited with SL of 950.
262.2. ipobull |   Link |Feb 24, 2022 10:23:21 AM
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
@ Cem choo,
Will you get your price of 1200 and then 1400 ?
262.3. SRINIBAS REDDY |   Link |Feb 24, 2022 11:44:10 PM
@ipobull
yes of Couse, he/she got that value yesterday today and tomorrow also at 03:31PM . and some time i.e. specially Saturday and Sunday the price goes to 1400 and above. its never end.

too much fun man
261. Chalak Lomdi |   Link |Feb 15, 2022 10:34:24 PM
chalak lomdi loss news ( -333 )
261.7. Chalak Lomdi |   Link |Feb 17, 2022 8:38:53 AM
@lokesh yes GMP is always latest and updated with me... even ipo ke target hote he but it's accuracy 90%.
261.8. lokes |   Link |Feb 17, 2022 12:56:17 PM
IPO Guru IPO Guru (3000+ Posts, 3100+ Likes)
@chalak: I understand guessing ipo listing targets is not easy , not even in some ranges....and 90% is too much, even 60% accuracy in that will be good enough.
And ideally target call should be for listing but even during whole day or even after 1 day, if that target comes, you considers that as successful call , as seen many times earlier :)
260. arunARUN |   Link |Feb 17, 2022 7:14:09 AM
IPO Guru IPO Guru (1200+ Posts, 1000+ Likes)
Many allotted persons have sold. Interesting question is who has bought it?
Even more interesting is why they bought same higher than IPO price as they had chance to buy at IPO price given near allotment?
What is the game? Other than unknown Q3 numbers there is no other information in market
Wait and watch before you rush into buying. Some one who buys at lower price than what s/he sold can still be understood as lowering acquisition cost
260.5. arunARUN |   Link |Feb 17, 2022 11:23:06 AM
IPO Guru IPO Guru (1200+ Posts, 1000+ Likes)
@arca
It is easy to get technical knowledge. However more important is know self. How do you react to markets up and down cycle
When it is possible to get market return by investing in index fund or ETF then why are you attracted towards direct investment in market
One of my friend was very happy as he invested in mutual funds in March April 2020. When i asked him to compare date to date return with index fund he decided to stop investing in mutual fund and moved to ETF
So self knowledge will help you to get technical knowledge as then you would start understanding your own investments better
260.6. lokes |   Link |Feb 17, 2022 12:49:37 PM
IPO Guru IPO Guru (3000+ Posts, 3100+ Likes)
@arun: same question you asked before also in different way in below post:
https://www.chittorgarh.com/ipo/ipo_discussions.asp?a=1217&c=495375&ap=0
And i have replied my opinion, same still holds good.
That is different thing why retailers or DII's or anyone else, had bought this and what will be the future movement in share, but when there is no much selling pressure then automatic buying will increase at increased prices in any share, you can say, kind of sentiments buying (from retailers mainly) and from mutual funds for longer term and intraday play due to operators/others, as yesterday also good fall was seen in last 1-2 hours and btw other than chittorgarh, there is a outside world also and so there are many retailers who are still holding/buying :) I have many of friends who are investing in share market but they didn't even heard of term "buyback" and even holding tcs shares too and many others who are not in ipos but buying/selling in stock market, means they are not much into such stock market news etc.
259. lokes |   Link |Feb 16, 2022 9:15:00 AM
IPO Guru IPO Guru (3000+ Posts, 3100+ Likes)
Sold 100 shares at 959 and holding remaining 121 shares with stoploss of 919 and target of 989....
259.2. lokes |   Link |Feb 16, 2022 9:31:02 AM
IPO Guru IPO Guru (3000+ Posts, 3100+ Likes)
@avenue: thanks :) Congrats to you also.
I have sold 50 more at 975....order hit and it came down...anyways whole day is remaining, lets see how it proceeds now, holding only 71 shares now.....
259.3. lokes |   Link |Feb 16, 2022 10:18:16 PM
IPO Guru IPO Guru (3000+ Posts, 3100+ Likes)
sold 50 more shares at mentioned target of 989.....200 gone at avg price of around 970....so holding only 21 shares now....luckily mentioned stoploss of 919 remain intact for today and didn't hit as price touched 920 and bounced back :)
258. pRACE |   Link |Feb 16, 2022 12:43:49 PM
booked 1 lot at 990, holding remaining 1 lot
258.1. pRACE |   Link |Feb 16, 2022 2:43:32 PM
SOLD 2ND LOT AT 960.

NOW time to move on
257. Earthking |   Link |Feb 16, 2022 12:50:01 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Sold all ... kept price 1020 for remaining 20 shares ...avg at around 965 (473 out of 493 alloted ) ... second highest IPO gain after IRCTC where i was alloted 4 lots made 50k on first day ....
256. manjitsingh |   Link |Feb 16, 2022 12:32:05 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
Holding all 221 shares target 1100 till Friday....
255. Earthking |   Link |Feb 16, 2022 9:26:49 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Sold most of alloted lots in range from 960 -970 ... holding a little
254. Bullish |   Link |Feb 16, 2022 8:18:06 AM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Expecting listing beyond 1000+
254.1. Bullish |   Link |Feb 16, 2022 8:46:10 AM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Very good listing at 935 936 hope it will go up from here and make 1000 mark soon and then hold for 50% gain
254.2. Bullish |   Link |Feb 16, 2022 9:25:03 AM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Hoping 1000 cross soon
253. Regulagedda Ambica Prasad |   Link |Feb 16, 2022 9:19:35 AM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Gamble played well with two lots allotted in 2 applications. More than expected listing.
252. DownriteVJ |   Link |Feb 16, 2022 9:17:26 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Nearing 1000
251. Earthking |   Link |Feb 16, 2022 8:48:13 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
935 @ NSE and 936 @ BSE .... expert advice hold or sell ???? i believe it will touch 1000Rs
251.1. lokes |   Link |Feb 16, 2022 8:51:05 AM
IPO Guru IPO Guru (3000+ Posts, 3100+ Likes)
I think, everyone should hold if listing above 900....and we can have some stoploss as per our convenience/risk and can hold for today at least....selling can be done around 980-100 partially or fully, if it comes today or later.
Good listing now anyways at 935...congrats everyone who got allotted here....especially 13 lots like me :)
251.2. Gujju IPO |   Link |Feb 16, 2022 9:11:35 AM
Congratulation to all allottee
250. Amit Chheda |   Link |Feb 16, 2022 9:07:34 AM
IPO Mentor IPO Mentor (600+ Posts, 700+ Likes)
Vedant fashion 15k +++
Booked...go Goa gone.
249. Rightperson |   Link |Feb 16, 2022 8:57:35 AM
Preopen 935 nse look positive now
248. Amit Chheda |   Link |Feb 16, 2022 8:51:17 AM
IPO Mentor IPO Mentor (600+ Posts, 700+ Likes)
Congratulations to all allotees...last minute brave decision made by some masterstroke on this board..
247. GANGAJ |   Link |Feb 16, 2022 8:47:21 AM
Listing price 935/-...
246. pRACE |   Link |Feb 16, 2022 8:38:18 AM
@9.37am, buyer 86 lakh, seller 21 lakh
indicative open price 915
246.1. pRACE |   Link |Feb 16, 2022 8:47:11 AM
settled at 935, buyer still 81 lakh and seller only 5lakh
hope it can saw some fantastic move