The much awaited IPO of Vedant Fashions is open for subscription!
After years of seeing Amitabh Bachchan, Virat Kohli, Anushka Sharma, Aliaa Bhatt, Ranveer Singh and Kartik Aaryan celebrate Indian weddings in TV ads in Manyavar’s traditional attire, we now get to celebrate the listing of the company on the Indian stock exchanges.
About Vedant Fashions IPO:
Vedant Fashions Limited is the largest company in India in the men’s Indian wedding and celebration wear segment.
Their flagship brand, Manyavar, is a category leader in the branded Indian wedding and celebration wear market with a pan India presence.
It is primarily engaged in the manufacturing and trading of readymade men and women celebration wear like sherwanis, lehengas, sarees, kurtas, and related accessories.
It offers its products both, offline via its exclusive brand stores (EBOs), multi-brand stores (MBO’s) and large format stores (LFS) and online through its website, app and lateral e-commerce platforms.
The company has established a multi-channel network, building a portfolio of brands with on-trend designs by identifying gaps in the under-served and high growth Indian wedding and celebration wear category.
It has a portfolio of 5 brands – Manyavar, Mohey, Mebaz, Twamev, and Manthan.
As of June 2021, Vedant Fashions Ltd had:
525 Exclusive Branded Outlets (EBOs) across 207 cities and towns in India and 12 EBOs in USA, Canada, and UAE covering 1.1mn sq ft in retail footprint.
Overview of Vedant Fashion Brand Portfolio
Vedant Fashions Business Model:
Vedant Fashions is primarily asset-light since its Exclusive Brand Outlets (EBOs) are largely operated by franchisees on a pan India basis.
The company commands a high initial capital commitment from these 300 franchisees and in return, provides support in identifying and approving potential locations for new stores, managing advertising, supply chain and inventory management, and providing training programmes to franchisees and store staff.
70% of its franchisees have operated stores for 3 or more years and 61% of the sales of franchisee-owned EBOs is derived from franchisees having 2 or more stores.
Vedant Fashions Key Financials (INR Cr):
Vedant Fashions Revenue Mix:
Vedant Fashions Promoter & Shareholding Pattern:
VFL is headquartered in Kolkata and led by Mr. Ravi Modi, a first generation entrepreneur.
VFL’s pre-offer shareholding pattern is as below,
Vedant Fashions IPO Details:
Offer Period: Friday, 4th Feb – 8th Feb
Price Band: INR 824 – INR 866
Lot Size: 17 equity shares & in multiples of 17 equity shares thereafter
Face Value: INR 1 per share
Issue Size: Sale of 36,384,838 Equity Shares
Type of Issue: Offer for Sale
Offer to Public: 15%
Issue Size (in ₹): ₹3149cr
- QIB: 50% of net issue – ₹1574 cr
- NIB: 15% of net issue – ₹474 cr
- Retail: 35% of net issue- ₹1102 cr
How to apply for Vedant Fashions IPO
You can apply for the Vedant Fashion IPO in these ways:
a) Existing PL Client
Proceed to book Vedant Fashion IPO shares using our E-IPO Facility and using the UPI ID, confirm the payment on the UPI app, and block the amount for allotment.
Visit this link to apply: https://eipo.plindia.com/
b) New Demat Account
If you’re a new investor open your demat account for free with Prabhudas Lilladher to begin your investment journey.
Click https://instakyc.plindia.com/ to get started
Check out this video walkthrough to learn how to open a demat account at PL.
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All data from the Vedant Fashions RHP
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