Vedant Fashions (Manyavar) IPO: Price Band, Open Date & GMP

Manyavar IPO

Manyavar (Vedant Fashions) IPO Detail

Manyavar (Vedant Fashions) IPO: The issue of manyavar, a traditional clothing brand, is opening on February 4 and will close on February 8. Vedant Fashion, the company that owns brands like ‘Manyavar’ and ‘Mohey’. Vedant Fashions is planning to raise Rs 3149 crore via IPO and has fixed price band of Rs 824-866 per share. Know all the details related to this IPO

Vedant Fashions Limited IPO (Manyavar IPO) Detail Table

PARTICULARIPO DETAILS
IPO Open:04 February 2022
IPO Close:08 February 2022
IPO Size:36,364,838 Eq Shares of ₹1
(aggregating up to ₹3,149.19 Cr)
Offer for Sale:36,364,838 Eq Shares of ₹1
(aggregating up to ₹3,149.19 Cr)
Issue Type:Book Built Issue IPO
Face Value:₹1 Per Equity Share
Price Band:₹824 to ₹866 Per Share
Market Lot:17 Shares
Listing on:BSE & NSE
Retail Quota:35%
QIB Quota:50%
NII Quota:15%

When Vedant Fashions (Manyavar) IPO will open?

Vedant Fashions, owner of ethnic wear brand Manyavar, will open its IPO on February 4 and will close on February 8 for QIB, NII, and Retail Investors. The allotment of shares will take place on February 11. Whereas the shares of the company will be listed on 16 February 2022.

What is Manyavar IPO price band?

Manyavar owner Vedant Fashions sets IPO price band at Rs 824-866 per share. Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, on Friday fixed a price band of Rs 824-866 a share for its Rs 3,149-crore initial public offering (IPO).

What is the issue size of Vedant Fashions (Manyavar) IPO?

The company raise Rs 3,149-crore from this IPO. This IPO will be Offer for Sale (OFS). In this, the company will issue a total of 36,364,838 equity shares.

What is the lot size for Vedant Fashions (Manyavar)?

The Vedant Fashions (Manyavar) IPO market lot size: Investors can bid for a minimum of 17 shares up to maximum of 13 lots or 221 shares. At the upper end of the price band, one lot of Manyavar shares will cost minimum investment of Rs 14,722 and a maximum of Rs 1,91,386 can be made for investment in this IPO.

What is the GMP of Vedant Fashions (Manyavar) IPO?

According to market observers, Vedant Fashions (Manyavar) IPO GMP today is ₹105, The company’s shares are expected to list on stock exchanges NSE and BSE on February 16, 2022.

What is Manyavar IPO retail subscription status?

Available after Manyavar IPO Open.

How much is retail quota of Manyavar IPO?

IPO will be held in this IPO at least 35% for retail investors, 50% for eligible institutional investors (QIBs) and 15% for non-institutional investors (NIIs). The OFS comprises sale of up to 1.74 crore shares by Rhine Holdings Ltd; up to 7.23 lakh shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I, and up to 1.81 crore shares by Ravi Modi Family Trust.

Company’s Brands and Stores

Vedant Fashions Limited is the parent enterprise to Manyavar, Mohey and Mebaz. the company has an extensive retail network with 546 exclusive brand outlets (EBOs) including 58 shop-in-shops globally, including 11 overseas EBOs across the United States, Canada and the UAE, which are countries with a large Indian diaspora.

Who are the promoters of Manyavar?

The promoters of Kolkata-based Vedant Fashions (Manyavar) are Ravi Modi, Shilpi Modi and Ravi Modi Family Trust.

Who is the owner of Manyavar mohey?

Vedant Fashions, which owns brands like Manyavar, Mohey and Mebaz. Manyavar began its journey as a thought in 1999 when Ravi Modi ventured into a family business which revamped men’s ethnic wear.

Who is Lead Manager of Manyavar IPO?

Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities and Kotak Mahindra Capital are the book-running lead managers to the issue.

Who is registrar of Manyavar IPO?

KFintech Private Limited is the registrar of the public issue.

Is Manyavar listed in stock market?

Kolkata-based Vedant Fashions (Manyavar) is not listed yet but its initial public offering (IPO)will open on February 4 and will close on February 8

When Vedant Fashions (Manyavar) IPO allotment?

IPO allotment process takes 6 working days from the issue closing date, The finalization of Basis of Allotment for Vedant Fashions (Manyavar) IPO will be done on February 11, 2022, and the allotted shares will be credited to your demat account by February 15, 2022. Check the Vedant Fashions (Manyavar) IPO allotment status.

When is Vedant Fashions (Manyavar) IPO listing date?

The Vedant Fashions (Manyavar) shares are expected to list on NSE and BSE on February 16.

About Manyavar

Manyavar offers you timeless ethnic outfits including Kurtas, Kurta Sets, Sherwanis, Indo-Westerns, Jackets, Kurta Jacket Sets, Sarees, Lehengas and more. It all began in a 1000 square feet office space with Rs.10,000 as capital. Manyavar was conceptualized in 1999, since then Manyavar has expanded its reach to 200+ cities in India, U.A.E, U.S.A

Vedant Fashions Limited is the largest company in India in the men’s Indian wedding and celebration wear segment in terms of revenue. The company’s popular brand Manyavar is a category leader in the branded Indian wedding and celebration wear market with a pan-India presence, as of Financial Year 2020, according to a report. Apart from Manyavar, Vedant Fashions Limited is also the owner of other brands like Mohey, Mebaz, Manthan, and Twamev.

As of June 30, 2021, the company had a retail footprint of1.1 million square feet covering 525 EBOs (including 55 shop-in-shops) spanning across 207 cities and towns in India, and 12 EBOs overseas across the United States, Canada and the UAE.

Manyavar IPO Tentative Timetable

The Manyavar IPO open on February 4 and conclude on February 8. The allotment date is Feb 11 2022 and the IPO may list on Feb 16 2022.

IPO DETAILSDATE (TENTATIVE)
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
A credit of Shares to Demat Account:15 February 2022
IPO Listing Date:16 February 2022

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