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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Vedant Fashions Limited will open for subscription on February 04, 2022 and closes on February 08, 2022. It is expected to list on the stock exchanges on February 16, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Established in the year 2002, it is the largest company in India in the men’s Indian wedding and celebration wear segment, in terms of revenue and profit after tax for the fiscal 2020. The Company operates as a one-stop destination with a wide-spectrum of product offerings for every celebratory occasion. It’s portfolio of products includes a diverse range of attires and accessories, designed in-house by experienced designers, and manufactured by experienced artisans.
The Company sells its products under 5 brands – ‘Manyavar’, ‘Mohey’, ‘Mebaz’, ‘Manthan’, and ‘Twamev’ – which are owned by the Company itself. ‘Manyavar’ brand is a category leader in the branded Indian wedding and celebration wear market with a pan-India presence. ‘Mohey’ is its flagship brand for women’s Indian wedding and celebration wears.
The Company claims to have an asset-light business in respect of its plant, property and equipment. Majority of its sales (90%) are generated through franchisee-owned EBOs (Exclusive Brand Outlets), 2% by online channels (including its website manyavar.com), and the remaining through Multi Brand Outlets, shop-in-shops, and Large Format Stores.
The Company has a retail footprint of 1.2 million square feet covering 535 EBOs (including 58 shop-in-shops) spanning across 212 cities and towns in India, and 11 EBOs overseas in 8 cities across the United States, Canada and the UAE, which are countries with a large Indian diaspora. 98.58% of its revenue comes from domestic sales (of which, 44.22% from Tier 1 cities, 42.05% from Tier 2 cities, and 12.31% from Tier 3 cities) and the remaining 1.42% from international markets.
Ravi Modi, Shilpi Modi, and Ravi Modi Family Trust
There are no listed companies in India
To achieve the benefits of listing the equity shares on the stock exchanges
The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.
|IPO Size||₹ 3,149.19 Crore *|
|Offer Mix||100% Offer For Sale|
|Price Band||₹ 824 - ₹ 866|
|Lot Size||17 Shares (& in multiples thereof)|
|Face Value||₹ 1|
|Application Amount||Min. ₹ 14,722 (1 lot) | Max. ₹ 1,91,386 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Kfin Technologies Private Limited|
|Cut-off time for UPI Mandate Confirmation||09-Feb-2022 (up to 12:00 PM)|
₹ 1,574.60 Crore
(50% of Issue Size)
₹ 472.38 Crore
(15% of Issue Size)
₹ 1,102.21 Crore
(35% of Issue Size)
|IPO Opens||February 04, 2022|
|IPO Closes||February 08, 2022|
|Finalization of the basis of allotment||February 11, 2022|
|Unblocking of funds / Initiation of refunds||February 14, 2022|
|Credit of equity shares to Demat accounts||February 15, 2022|
|Listing of equity shares||February 16, 2022|
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