Vedant Fashion was incorporated on May 24, 2002. Over the years the company has established the following brands in the men’s and women’s ethnic and celebration wear market: Manyavar, Twamev, Manthan, Mohey, and Mebaz. Manyavar is branded Indian wedding and celebration wear market with a pan-India presence. The company's products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns, and kurtis..
| Bidding Dates |
|---|
| 04 Feb 2022 - 08 Feb 2022 |
| Subscription |
|---|
| 2.57x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,722 | 1 | 13 | 17 | 36.4 M | ₹824 - ₹866 | 92.4 % | ₹29964.6 M - ₹31491.9 M | RHP DOC |
Vedant Fashions IPO SUBSCRIPTION STATUS
08 Feb '22Vedant Fashions IPO overall subscription rate was 2.57 times the total available shares
Vedant Fashions IPO retail subscription rate was 0.39 times in the retail segment
Vedant Fashions IPO non-institutional investor subscription rate was 1.07 times in the non-institutional investor category
Vedant Fashions IPO Qualified Institutional Bidder subscription rate was 7.49 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
08 Feb 2022 (Day 3) | 0.39x | 1.07x | 7.49x |
07 Feb 2022 (Day 2) | 0.31x | 0.09x | 0.11x |
04 Feb 2022 (Day 1) | 0.22x | 0.06x | 0.06x |
Vedant Fashions FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| H1FY22 | 984.07 | 3,598.43 | 607.01 | 674.41 | 48.90% |
| H1FY21 | -176.47 | 717.05 | 24.71 | 60.21 | 40.93% |
| FY21 | 1,329.03 | 5,648.16 | 2,526.22 | 2,676.92 | 49.88% |
| FY20 | 2,366.37 | 9,155.49 | 2,434.47 | 2,250.27 | 43.55% |
| FY19 | 1,764.27 | 8,007.42 | 2,348.38 | 2,275.61 | 42.21% |
Vedant Fashions IPO SUBSCRIPTION STATUS DETAILS
Vedant Fashions had 36.4 M shares on offer
Vedant Fashions IPO offer price was in the range ₹824 - ₹866
Vedant Fashions IPO minimum Investment was ₹14722
Vedant Fashions IPO issue size was ₹ 29964.6 M - ₹ 31491.9 M
Vedant Fashions had a minimum lot size of 17 Shares per application
Vedant Fashions NUMBER OF SHARES ON OFFER
Vedant Fashions IPO IMPORTANT DATES
| Issue Open Date | 04 Feb 2022 |
| Issue close Date | 08 Feb 2022 |
| Allotment Date | 11 Feb 2022 |
| Refund Date | 14 Feb 2022 |
| Demat Account Credit Date | 15 Feb 2022 |
| Listing Date | 16 Feb 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Vedant Fashions Allotment Status | Exchange |
Vedant Fashions IPO subscription opened on 04 Feb 2022, and closed on 08 Feb 2022
IPO allotment for Vedant Fashions was finalized on Friday, 11 Feb 2022
IPO listing for Vedant Fashions was on NSE and BSE on Wednesday, 16 Feb 2022
Vedant Fashions IPO LISTING GAINS
| Issue Price (adjusted) | 866.0 |
| Listing Open Price | 950.0 |
| Listing Close Price | 934.9 |
| Listing Gain% | 9.7% |
| Current Gain% | -40.3% |
Vedant Fashions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vedant Fashions Ltd. | 516.9 | 12544.9 | 32.5 | -13.1 | 8.6 | 19.1 | 13.2 | 1529 | 3.9 | 375.5 | -3.3 | 15.9 | -2.5 |
| Aditya Birla Lifestyle Brands Ltd. | 93.9 | 11455.8 | 65.1 | 0.3 | 1.3 | 12.1 | 2 | 8480.9 | 7.2 | 171 | 187 | 1.4 | 189.8 |
| Aditya Vision Ltd. | 618.4 | 7986.5 | 57.5 | 2 | 2.7 | 17 | 7.9 | 2681.5 | 18.3 | 116.9 | 10.8 | 10.8 | 29.2 |
| Ethos Ltd. | 2782.1 | 7444.3 | 71.7 | 5.8 | 4.3 | 6.4 | 4.3 | 1658.4 | 30 | 94.8 | -1.6 | 38.8 | 12.3 |
| Electronics Mart India Ltd. | 165.8 | 6380.3 | 30.9 | 0.3 | 0.8 | 6.6 | 2.8 | 7191.4 | 3.1 | 107.1 | -33.1 | 5.4 | 88.8 |
| Landmark Cars Ltd. | 535 | 2218.6 | 59.5 | 0.4 | 0.5 | 6.4 | 1.9 | 4914.4 | 21.7 | 37.3 | 134.2 | 9 | 134.2 |
Vedant Fashions INFORMATION ON IPO ISSUE
About Vedant Fashions
Vedant Fashion was incorporated on May 24, 2002. Over the years the company has established the following brands in the men’s and women’s ethnic and celebration wear market: Manyavar, Twamev, Manthan, Mohey, and Mebaz. Manyavar is branded Indian wedding and celebration wear market with a pan-India presence. The company's products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns, and kurtis..
Object of the Issue
1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges
2. Enhance visibility and brand image as well as provide a public market for the Equity Shares in India.
Vedant Fashions - PROMOTERS
| Name |
|---|
| Ravi Modi |
| Shilpi Modi |
| Ravi Modi Family Trust |
Vedant Fashions Book Running Lead Managers
Axis Capital Limited
vedantfashions.ipo@axiscap.in
Edelweiss Financial Services Limited
manyavar.ipo@edelweissfin.com
ICICI Securities Limited
vedant.ipo@icicisecurities.com
IIFL Securities Limited
manyavar.ipo@iiflcap.com
Kotak Mahindra Capital Company Limited
vfl.ipo@kotak.com
Vedant Fashions Registrar to the Offer
Kfin Technologies Private Limited
manyavar..ipo@kfintech.com
Vedant Fashions Strengths
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 driven by increased spending on such wear.
A differentiated business model combining the strengths of retailing with branded consumer play.
Vedant Fashions Risks
The business is highly concentrated on Indian wedding and celebration wear and vulnerable to variations in demand, as well as changes in consumer preferences. The company is affected by seasonal variations.
Other than designing the products, the company relies on outsourcing a significant proportion of the production processes and activities to third parties, without exclusivity arrangements.
The company performs in a highly competitive industry with a need for constant innovation
IPO FAQs
This IPO consists of an offer for sale of up to Rs 3,149.2 crore, of 36,364,838 shares.
The promoters of the company are Ravi Modi, Shilpi Modi and Ravi Modi Family Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 824.0 - 866.0.
The IPO application opens on Feb 04, 2022 and closes on Feb 08, 2022.
The minimum lot size for the IPO is 17. The maximum lot size for the IPO is 221.
For all category investors, the minimum application amount for this IPO is Rs. 14,722.0, the maximum value for this IPO is Rs 191,386.0.
This IPO will be allotted on Feb 11, 2022.
The refund will be credited to your account on Feb 14, 2022.
The allotted shares will be credited to your demat on Feb 15, 2022.
Vedant Fashions Ltd.’s shares listed on the stock exchanges on Feb 16, 2022.