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Vedant Fashions Limited, one of the largest and most successful companies emerged for the men’s Indian and celebration wear segment.

The entity embraces brands like Manyavar, Mohey, Twamev, Mebaz, and Manthan under its roof. Not limited to men’s wear, the entity also offers an awe-inspiring celebration and wedding wear segment for women.

Vedant Fashions IPO will bring variety in the market and evidencing the entity’s predominant standing, the IPO might be an opportunity for the investors.

Vedant Fashions IPO Review will assist you through and you will have all the details and information.

Face ValueRs 1
Price BandRs.824 – Rs.866
Listing AtBSE, NSE
Min. Order Quantity17 Shares
Listing DateFeb 16, 2022
Offer for SaleRs.3,149.19 Crore
Fresh IssueNot Disclosed
IPO SizeRs.3,149.19 Crore
Tick Size1

 


Vedant Fashions IPO Overview

Vedant Fashions IPO has proposed an IPO of 36,364,838 equity shares having a face value of Rs. 1 each by way of an Offer for Sale which means it is issued for the existing shares by the promoters or/and existing shareholders.

Vedant Fashions IPONo fresh issue will take place and the entity will not be receiving any proceeds from the IPO.

Vedant Fashions Private Limited in pursuance of the proposed IPO has been converted from a private company to a public company and has now become Vedant Fashions Limited since no private company can offer its securities for subscription to the public at large.

Vedant Fashions IPO Important Dates

EventsDate
IPO Opening DateFeb 4, 2022
IPO Closing DateFeb 8, 2022
Basis of Allotment FinalizationFeb 11, 2022
Refunds InitiationFeb 14, 2022
Credit of Shares to Demat AccountFeb 15, 2022
Share Listing DateFeb 16, 2022

The important Vedant Fashions IPO dates for the IPO as of now are from February 4th – February 8th. During this time, the IPO will be open to the public.

The company submitted Draft Red Herring Prospectus (DRHP) with SEBI in September 2021 and has received its nod for the proposed IPO on January 18 without any further delay, the entity filed a red herring prospectus with ROC on January 22.

The IPO for placing the bids will open on February 4 and will close on February 8 Expected date by which the IPO may float in the market is February 16.

Vedant Fashions IPO Price, Size, Share Offerings

Face ValueRs.1
Price BandRs. 824 – Rs. 866
Offer for SaleRs. 3,149.19 Crore
Fresh IssueNot Disclosed
IPO SizeRs. 3,149.19 Crore

Vedant Fashions IPO Price is yet to be determined as per the demand and bids submitted by the investors and Vedant Fashions IPO Size is 36,364,838 equity shares having a face value of Rs. 1 each.

The IPO is an Offer for Sale and some of the promoters will be offloading some of their shares in this IPO.

The shares are being offered to the public for achieving the benefits of listing and spreading the reach of the entity.

Vedant Fashions IPO Grey Market Premium

DateGMP (Rs.)Kostak Rate (Rs.)Subject to Sauda (Rs.)
15 February 2022NANANA
14 February 2022NANANA
13 February 2022NANANA
12 February 2022NANANA
11 February 2022Rs.10NANA
10 February 2022Rs.10NANA
09 February 2022Rs.10NANA
08 February 2022Rs.10NANA
07 February 2022Rs.40Rs.400Rs.800
06 February 2022Rs.40Rs.400Rs.800
05 February 2022Rs.40Rs.400Rs.800
04 February 2022Rs.50Rs.400Rs.800
03 February 2022Rs.50Rs.400Rs.800
02 February 2022Rs.40Rs.400Rs.800
01 February 2022Rs.90Rs.400Rs.800
31 January 2022Rs.90Rs.400Rs.800
30 January 2022Rs.90Rs.500Rs.800
29 January 2022Rs.90Rs.500Rs.800
28 January 2022Rs.80NANA
27 January 2022Rs.80NANA

The last updated  Vedant Fashions IPO GMP  is NA. The investors observe the Grey market Premium closely to estimate the price of the share post listing.

The Grey market is an unofficial market where the shares are traded, usually before the listing takes place on the stock exchanges.

Also, it is interesting to note that the Kostak rate for the IPO is Rs. NA and the Subject to Sauda for the IPO is Rs. NA.

Vedant Fashions IPO Subscription Status

Day / DateQIBNIIRIITotal Subscription
1st Day – 4th Feb0.06x0.06x0.22x0.14x
2nd Day – 7th Feb0.11x0.09x0.31x0.21x
3rd Day – 8th Feb7.49x1.07x0.39x2.57x
Shares Offered or Net Issue7,272,9685,454,72612,727,69425,455,388

The Vedant Fashions IPO Subscription status will be updated as soon as the IPO will open.

To subscribe to this IPO, investors can make payments through UPI or ASBA method. ASBA IPO application is available through the net banking of the respective bank account. Also, one can participate with the help of brokers offering services in this regard. In this IPO, 35% of the IPO has been reserved for retail investors.

The Lead Managers of the issue are:

  • Axis Capital Limited
  • Edelweiss Financial Services Limited
  • ICICI Securities Limited
  • IIFL Securities Limited
  • Kotak Mahindra Capital Company Limited

The details in respect of the price band and subscription will be made available in a short time.

For the Latest Bid details click on the above links.

  • Vedant Fashions IPO LIVE Bid details on BSE
  • Vedant Fashions IPO LIVE Bid details on NSE

Vedant Fashions IPO Allotment Status

The basis of Vedant Fashions IPO Allotment will be determined once the IPO will be closed and bids are placed.

The allotment will be finalized on 11th February and subsequently, shares will be credited to the accounts of the allottees on 15th February.

Kevin Technologies Private Limited is the Registrar of the issue. The entity is the largest transfer agency and registrar.

Vedant Fashions IPO Live Performance

Don’t miss any updated in respect of the IPO. Check Vedant Fashions IPO Live Performance and Vedant Fashions IPO Share Price from the link given below and invest after analyzing its performance and expectations.


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    Latest Vedant Fashions IPO News

    Vedant Fashions IPO price band was Rs. 824-866. The GMP of the shares in the past few days has even touched zero which means we can estimate that the shares might get listed at a par value.

    The issue has subscribed 7.49 times by the QIBs and 0.39 times by the Retail Investors. And overall the IPO has been subscribed 2.57 times.

    The listing of the shares will take place on 16th February.


    Vedant Fashions – Company Review

    Vedant Fashions Limited is a prominent name augmenting as the largest men’s Indian wedding and celebration wear clothing.

    The entity has embarked on brands like Manyavar, Mohey, Twamev, Mebaz, and Manthan.

    Vedant Fashions flagship brand Manyavar marks its presence across India and has embarked on international footprints in countries like USA and UAE. The entity has over 600+ stores in 200 cities.

    Also, it is notable that actors like Kartik Aryan, Ranveer Singh, Amitabh Bachchan, and Alia Bhatt have been associated with Vedant Fashions as the faces of the brands.

    Products or Services

    Vedant Fashions is infamous for the fashionable clothing fabricated by it for the men’s Indian attires especially for weddings and celebrations under its brand – Manthan, and Twamev. Also, the Mohey Label caters to all the wedding and celebrations wear segment requirements for women. Its product lines are diverse and innovative.

    In 2017, the business enterprise brought Mebaz into existence which caters not just to men or women but to the complete family including men’s, women’s, and kid’s clothing promoting its presence in the Southern part of India.

    After the successful establishment of its previous brands, in 2019, Vedant Fashions made an addition in the name Twamev, a premium brand for men’s wear.

    Promoters and Holding

    The promoters of the company are:

    • Ravi Modi
    • Shilpi Modi
    • Ravi Modi Family Trust

    The Management of the company comprises of:

    • Ravi Modi holds the position of Chairman and Managing Director.
    • Shilpi Modi holds the position of Whole-time Director.

    Are Vedant Fashions good for Investment?

    The Company is continuously growing at a rapid pace. Its innovative and attractive designs and themes usually reflect the rich and fascinating culture of India, its diversity is highly cherished and expressed in its creations.

    For men, they offer Indo-western products like sherwanis, kurtas, jackets, and accessories such as jutti, safe, mala, and for women’s ethnic and celebration wear they offer items such as lehengas, sarees, stitched suits, gowns, and Kurtis.

    They are comprehending their customer base eventually, where they do not offer clothes for men and women but also kids with its brand, Mebaz. Their price ranges are very wide and offer endless styles and designs.


    Vedant Fashions Financial Statements

    Amount (in INR & Million)
    30-Sep-2130-Sep-20Mar-2131-Mar-2031-Mar-19
    Assets14,455.0314,342.2816,256.5315,915.5313,185.07
    Revenue3,872.901,088.946,250.199,479.768,197.99
    Expense2,548.191,303.114,431.026,361.355,488.61
    Profit After Tax984.07(176.47)1,329.032,366.371,764.27

    For the financial year 2021, Vedant Fashions Limited has reported a revenue of Rs. 625 crores and has booked a profit of Rs. 133 crores.

    The company has had a positive track record of profits in the past years.

    The IPO will accelerate the company’s growth and help it in expanding its business in locations where its presence is weak. Up to now, the company operates at a capacity of 600+ under its brands.

    In the past few years, as the audience is becoming more aware, the range of the products are also upscaling to satisfy customers’ needs and expectations.

    Earnings per Equity Share (in Million)
    30-Sep-2130-Sep-20Mar-2131-Mar-2031-Mar-19
    Basic & Diluted4.01(0.71)5.369.457.04

    Vedant Fashions IPO Review

    Vedant Fashions Limited is making an entrance on the stock exchange with its approaching IPO by way of an Offer for Sale to expand its reach and visibility in the market and to execute the Offer for Sale.

    As we can notice from the objectives as led out in the DRHP with the IPO, the entity is looking forward to gaining the advantages of listing. This is a mainboard issue and the subsequent shares will be listed on NSE and BSE.

    As per some of the reports and experts, the IPO is a prospective opportunity for long-term holding. The company has good potential to outdo its operations. It is continually variegating its product portfolio. Also, as with time, the audience-driven towards fashion and ethnic wears increases, so will the business.


    Vedant Fashions IPO Details

    Here are a few more details you need to know before investing in Vedant Fashions IPO –

    Vedant Fashions IPO Issue Object

    Vedant Fashions has proposed diverse objectives for making the IPO offer and some of the objectives are:

    • 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 – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Market leader in the Indian celebration wear market with a diverse portfolio of brands catering to the aspirations of the entire family;
    • Large and growing Indian wedding and celebration wear market is driven by increased spending on such wear;
    • Differentiated business model combining the strengths of retailing with branded consumer play;
    • Omni-channel network with the seamless integration of our online and offline channels;
    • Technology-based strong supply chain and inventory replenishment systems are driven by systemwide data analytics, strong processes, and longstanding vendor relationships; and
    • Experienced and professional founder-led leadership team.

    Quantitative factors are:

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-215.3612.1935.45
    31-Mar-209.4522.21
    Mar-197.0420.00

    Vedant Fashions IPO Lead Managers

    Here is the list of Lead managers –

    • Axis Capital Limited
    • Edelweiss Financial Services Limited
    • ICICI Securities Limited
    • IIFL Securities Limited
    • Kotak Mahindra Capital Company Limited

    Vedant Fashions IPO Registrar to offer

    Check out the details of the registrar here –

    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
    Investor grievance E-mail:
    einward.ris@kfintech.com
    Contact Person: M. Murali Krishna
    SEBI Registration No: INR000000221

    Vedant Fashions IPO – Other Details

    • Statutory Auditor – S.R. Batliboi & Co. LLP, Chartered Accountants
    • Legal Counsel to the Company – Khaitan & Co
    • Bankers to the Company –  Kotak Mahindra Bank, HDFC Bank, and ICICI Bank Limited

    Vedant Fashions IPO Verdict by Stock Brokers

    Most of the stock brokers which have reviewed the Vedant Fashions IPO either have a neutral view or a may apply suggestion.

    According to the experts, the valuation is too high and the price band is also pricey. The company may have a favorable space in the industry but the disruptions of COVID-19 has put the financials of the company in a not so fascinating state.

    Therefore, as per stock brokers and other entities the decision in regards to investment in the Men wear and celebration wear Segment Company should be taken cautiously.

    Vedant Fashions IPO – Conclusion

    The company’s management comprises of an experienced and professional team that leads the overall operations of the company and in their guidance, the company has evidenced unstoppable growth and has also successfully expanded its business globally with 11+ stores internationally.

    The IPO might turn out a prosperous investment over the long run.


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      Vedant Fashions IPO Review FAQs

      Check out the FAQs on Vedant Fashions IPO –

      What is the Issue Size of Vedant Fashions IPO?

      The Company is making an initial public offer of 36,364,838 equity shares. They vividly portray the aspects of the issue in this article.

      You can check the stats on the fresh issue, Offer for sale, and net issue.

      What is the Price band of Vedant Fashions IPO?

      The price band for this particular IPO ranges between Rs.824 – Rs.866. As far as the face value of the share is of concern, it is Rs.1 per share.

      What is the Vedant Fashions IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on Feb 4, 2022, while the closing date is set at Feb 8, 2022.

      What is the Vedant Fashions IPO Allotment Date?

      They also have the news regarding the respective allotment dates of this IPO.

      Basis of Allotment finalization is on Feb 11, 2022, refund initiation is on Feb 14, 2022, credit of shares is on Feb 15, 2022, and share listing date is on Feb 16, 2022.

      What is the Vedant Fashions IPO Listing Date?

      Shares of this company shall be listed in the exchanges on Feb 16, 2022. The date, when the listing would be done, is stagnant on Feb 16, 2022.

      Who is the Registrar of Vedant Fashions IPO?

      One of the reputed registrars is managing the issue of this IPO, i.e. Kfin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of Vedant Fashions IPO?

      Here are the promoters of this IPO – RAVI MODI, SHILPI MODI, AND RAVI MODI FAMILY TRUST (ACTING THROUGH ITS TRUSTEE, MODI FIDUCIARY SERVICES PRIVATE LIMITED). You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      What is the GMP of Vedant Fashions IPO?

      They have obtained the GMP of this IPO and it is Rs.NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

      Is Vedant Fashions IPO good for Investment?

      They have further provided the financial status of the company in this article, from the past few years.

      You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      What is the PAT of Vedant Fashions Company?

      They have the information of company financials, and according to that, they have the figures from the last few years to provide.

      PAT for the financial year 2021 in Million is 1,329.03, 2020 is 2,366.37, 2019 is 1,764.27. PAT from Sep 2021 is 984.07.


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