Manyavar Owner Vedant Fashions IPO 4th - 8th Feb 2022
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Manyavar Owner Vedant Fashions IPO 4th – 8th Feb 2022
Vedant Fashion which owns Ethnic Wear Brands like Manyavar,Mohey,Mebaz,Manthan and Twamev.
The IPO is Entirely for offer for sale hence the Company will not receive any proceeds from the IPO.The Company is aiming to raise Rs.3149 Crore via IPO by offering 3,63,64,838 Equity Shares which is entirely for Promoters and Investors.The offer for sale includes 1,74,59,392 equity share by Rhine Holdings, Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF 7,23,014 equity shares, and the remaining 1,81,82,432 equity shares by promoter Ravi Modi Family Trust.
The Objective of this IPO is to utilize the net proceeds to achieve the benefit of listing of Equity Shares on the Stock Market and to carry out offer for sale.
The Price Band for this IPO is Rs.824-866 per Equity Share
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Vedant Fashions lists at ₹931, a premium of more than 7%
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stay away.. steep valuations