Hello viewers, Today we are going to review Vedant Fashions IPO. It is necessary to have a look at some important to buy their IPO shares. In this article, you will get every official update regarding the company IPO Date, Price, Form & Market lot size. According to the officials, the company has already announced the opening date of issuing shares on February 04 and will close on February 08, 2022 The main objective of the company is to raise around ₹3149 crores through IPO and they will offer for sale up to 36,354,838 equity shares of ₹1 each.
The company will give the benefit for the retail investor for 35% while QIB and HNI will be 50% and 15%. Let’s have a look at the company background.
Vedant Fashions IPO 2022 Review & Details
It is important that you should know about their strength and weakness while buying their IPO shares. So, we have got the company background that we would like to share with you.
Vendan Fashions a.k.a Manyavar is a well-known corporation in the Men’s Indian wedding and Celebration market across India. They provide you variety of men’s ethnic and celebration outfits such as Indo-western, sherwanis, Kurtas, Jackets, and accessories such as Jutti, safe, mala.
They also include women’s outfits for celebrations and weddings such as lehengas, sarees, stitched suits, gowns, and Kurtis. The company has spread across India and overseas markets. There are 600 and more stores exist in over 200 cities and in 3 countries with 11 international stores in UAE & USA.
You can say that company has a huge distribution network in India as well as a foreign countries. We would like to have your attention on Vedant Fashions IPO details that we have mentioned below.
Vedant Fashions IPO Date & Price Band
| IPO Opening Date | Feb 4, 2022 |
| IPO Closing Date | Feb 8, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹1 per equity share |
| IPO Price | ₹824 to ₹866 per equity share |
| Market Lot | 17 Shares |
| Min Order Quantity | 17 Shares |
| Listing At | BSE, NSE |
| Issue 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) |
| QIB Shares Offered | Not more than 50% of the offer |
| Retail Shares Offered | Not less than 35% of the offer |
| NII (HNI) Shares Offered | Not less than 15% of the offer |
Manyavar IPO Market Lot Size
The Manyavar Or Vedant Fashions IPO market lot size is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹191,386).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 17 | ₹14,722 |
| Maximum | 13 | 221 | ₹191,386 |
Vedant Fashions IPO Date, Time Table, Allotment & Listing
The Manyavar Or Vedant Fashions IPO open date is Feb 4, 2022, and the close date is Feb 8, 2022. The issue may list on Feb 16, 2022.
| IPO Open Date | Feb 4, 2022 |
| IPO Close Date | Feb 8, 2022 |
| Basis of Allotment Date | Feb 11, 2022 |
| Initiation of Refunds | Feb 14, 2022 |
| Credit of Shares to Demat Account | Feb 15, 2022 |
| IPO Listing Date | Feb 16, 2022 |
Vedant Fashions Company Financial Reports
| ₹ in crores | |||
| Income | Expense | PAT | |
| 2019 | ₹820 | ₹549 | ₹176 |
| 2020 | ₹948 | ₹636 | ₹237 |
| 2021 | ₹625 | ₹443 | ₹133 |
| 2022-6M | ₹178 | ₹117 | ₹45 |
Although, the company has maintained its profit margin since the financial year of 2021. It is quite impressive that during the pandemic company has been sticking to its objective and maintaining profit overall.
As we have mentioned above, the company has a huge distribution network in India and overseas markets. But during the pandemic, the networks have been difficult to make constant growth.
So, we would suggest that if you are interested in long-term investment then it might be risky to invest in Vedant Fashions IPO. For further updates and company, IPO reviews keep following us on our official site All Social Updates.