Vedant Fashion Ltd. to Open its IPO on February 4

The owner of the Manyavar, Vedant Fashions Ltd, has announced to hold its initial public offering from February 4  to February 8. The IPO is worth Rs 3,149 crore will be a complete offer for the sale of 3.63 crore equity shares by promoters and existing shareholders. The shares of the company are already demanding at Rs 80 premium per share in the grey market.

The company’s popular brand Manyavar is quite popular. It is a major part of the Indian celebration wear market with a diverse portfolio of brands. It includes Manyavar, Mohey, Mebaz, Manthan and Twamev. Manyavar leads among all the brands. 

Vedanta Fashion Ltd has 535 exclusive brand outlets spanning 212 cities and towns in India, and 11 EBOs overseas across the United States of America, Canada, and the UAE. The company has been profitable, but its financial performance has declined in the last financial year.