Vedant Fashions Limited offers an Indian clothing commodity market with a diverse portfolio of products. The company offers a one-stop shop with a wide range of products offered at every celebration event for its customers.
The company’s products include (i) Manyavar, (ii) Mohey, (iii) Mebaz, (iv) Manthan, and (v) Twamev. Vedant Fashions was the largest in India in terms of men’s wedding dresses and Indian festive attire in terms of revenue, OPBDIT, and profits after the 2020 Financial Year Tax.
The company conducts its business through franchise-led brand outlets (EBOs), the remainder of multi-brand stores (MBOs), supermarkets (LFSs), and online forums, including its website (www.manyavar.com) and mobile app.
As of June 30, 2021, the company owned a 1.1 Mn sq. Market. ft comprising 525 EBOs (including 55 stores) covering 207 cities and towns in India, as well as 12 EBO overseas in 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 Promoters
- Ravi Modi
- Shilpi Modi
- Ravi Modi Family Trust (acting through its trustee, Modi Fiduciary Services Private Limited).
Company Financials
| Particulars | For the year/period ended ( in Cr.) | |||
|---|---|---|---|---|
| 30 June 2021 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 1663.63 | 1625.65 | 1591.55 | 1,318.51 |
| Total Revenue | 178.48 | 625.02 | 947.98 | 819.80 |
| Profit After Tax | 45.19 | 132.90 | 236.64 | 176.43 |
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.
Vedant Fashions IPO Risk
- Any future pandemic or significant public health catastrophe, such as the COVID-19 pandemic, may have a negative impact on their company.
- Their business prospects are dependent on the condition of their major brands, and any inability to maintain or expand product sales might have a negative impact on their operations.
- Their franchisee-owned EBOs account for a large percentage of their customers’ sales.
- Apart from product design, they outsource a large percentage of their manufacturing processes and operations to third parties without any exclusivity agreements.
- Any failure in their quality control methods might harm their reputation and have a negative impact on their business, operating performance, and financial situation.
Other Threats
- Their firm is dependent on the organising of weddings, festivals, and other ethnic events, and seasonal changes can have a negative impact on their operations.
- Their company and cash flows may suffer if they are unable to correctly assess consumer demand and maintain an appropriate amount of inventory in their shops.
- The degree of consumer confidence and spending in India and the international jurisdictions where they operate determines their growth and profitability.
- Their might not be able to expand their business into new geographic areas or foreign markets.
- Their company, subsidiary, directors, and promoters are all involved in ongoing legal procedures.
Vedant Fashions IPO – Details
| IPO Opening Date | 04 February 2022 |
| IPO Closing Date | 08 February 2022 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ₹ 3149.19 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹824 To ₹866 Per Equity Share |
| Market Lot | 17 Shares ( 1 Lot) |
| Min Order | 17 Shares |
| Listing At | BSE, NSE |
| Register | KFintech Private Limited |
| QIB Shares Offered | Not more than 50% of the offer |
| Retail Shares Offered | Not less than 35% of the offer |
| NII (HNI) Shares Offered | Not less than 15% of the offer |
Vedant Fashions IPO – Date Schedule
| IPO Open Date | 04 February 2022 |
| IPO Close Date | 08 February 2022 |
| Basis of Allotment Date | 11 February 2022 |
| Initiation of Refunds | 14 February 2022 |
| Credit of Shares to Demat Account | 15 February 2022 |
| IPO Listing Date | 16 February 2022 |
Vedant Fashions IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 17 | 14,722 |
| Maximum | 13 | 221 | 1,91,386 |
Promoter Holding
| Pre Issue Share Holding | 92.40% |
| Post Issue Share Holding |
Vedant Fashions IPO Prospectus
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/ |
Vedant Fashions IPO Registrar
| Kfin Technologies Private Limited Selenium Tower B Plot 31 & 32, Gachibowli Financial District, Nanakramguda Serilingampally, Hyderabad 500 032 Telangana, India Telephone: +91 40 6716 2222 Email: manyavar.ipo@kfintech.com Website: www.kfintech.com.com |
Vedant Fashions IPO Lead Manager(s)
| 1. Axis Capital Limited 2. Edelweiss Financial Services Limited 3. IIFL Securities Limited 4. ICICI Securities Limited 5. Kotak Mahindra Capital Company Limited |
Vedant Fashions IPO FAQs
| When Vedant Fashions IPO will open? The Vedant Fashions IPO dates are 04 February 2022 To 08 February 2022. |
| What is the lot size of Vedant Fashions IPO? Vedant Fashions IPO lot size is 17 Shares and total amount is ₹ 14,722. |
| How to apply for Vedant Fashions IPO? You can apply in Vedant Fashions 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. |
| When is Vedant Fashions IPO listing date? The Vedant Fashions IPO listing date is announced. The date of Vedant Fashions IPO listing is 16 February 2022. |
