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Avoid Manyavar - Vedant Fashion IPO. Sky high premium which is totally unjustified N unwarranted for Re. 1 paid share. It can not be valued 4 times the price of ITC shares ? 100% OFS issue means entire share sale money will go to promoters pocket and company will get nothing. Promoters allotted shares to themself mostly at Re. 1 and subsequent bonus issue which means cost to promoters is zero . selling at 824-866 band ? Looks like promoters treating investors as fools & mindless. How SEBI N lead managers ca gve approval to such fancy share premium without matching financials ? If few IPO fail like PayTM , then it will be a big lesson to greedy promoters