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Manyavar IPO is a book built issue of Rs 3,149.19 crores. The issue is entirely an offer for sale of 3.64 crore shares.
Manyavar IPO bidding started from February 4, 2022 and ended on February 8, 2022. The allotment for Manyavar IPO was finalized on Friday, February 11, 2022. The shares got listed on BSE, NSE on February 16, 2022.
Manyavar IPO price band is set at ₹824 to ₹866 per share. The minimum lot size for an application is 17 Shares. The minimum amount of investment required by retail investors is ₹14,722.
Axis Capital Limited, Edelweiss Financial Services Ltd, ICICI Securities Limited, Iifl Securities Ltd and Kotak Mahindra Capital Company Limited are the book running lead managers of the Manyavar IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Manyavar IPO RHP for detailed information.
| IPO Date | February 4, 2022 to February 8, 2022 |
| Listing Date | February 16, 2022 |
| Face Value | ₹1 per share |
| Price Band | ₹824 to ₹866 per share |
| Lot Size | 17 Shares |
| Total Issue Size | 36,364,838 shares (aggregating up to ₹3,149.19 Cr) |
| Offer for Sale | 36,364,838 shares of ₹1 (aggregating up to ₹3,149.19 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 242,694,774 |
| Share holding post issue | 242,694,774 |
Manyavar IPO offers 25,455,388 shares. 7,272,968 (28.57%) to QIB, 5,454,726 (21.43%) to NII, 12,727,694 (50.00%) to RII. 748,687 RIIs will receive minimum 17 shares and (sNII) and (bNII) will receive minimum 238 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 7,272,968 (28.57%) | NA |
| NII (HNI) Shares Offered | 5,454,726 (21.43%) | |
| Retail Shares Offered | 12,727,694 (50.00%) | 748,687 |
| Total Shares Offered | 25,455,388 (100%) |
Manyavar IPO opens on February 4, 2022, and closes on February 8, 2022.
| IPO Open Date | Friday, February 4, 2022 |
| IPO Close Date | Tuesday, February 8, 2022 |
| Basis of Allotment | Friday, February 11, 2022 |
| Initiation of Refunds | Monday, February 14, 2022 |
| Credit of Shares to Demat | Tuesday, February 15, 2022 |
| Listing Date | Wednesday, February 16, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 8, 2022 |
Investors can bid for a minimum of 17 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,722 |
| Retail (Max) | 13 | 221 | ₹191,386 |
| Lot Size Calculator | |||
Ravi Modi, Shilpi Modi and Ravi Modi Family Trust are the company promoters.
| Share Holding Pre Issue | 92.40% |
| Share Holding Post Issue | 84.9% |
Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers a one-stop destination with a wide-spectrum of product offerings for every celebratory occasion to its customers.
The company's brands include (i) Manyavar, (ii) Mohey, (iii) Mebaz, (iv) Manthan, and (v) Twamev. Vedant Fashions was the largest in India in the men's Indian wedding and celebration wear segment in terms of revenue, OPBDIT, and profit after tax for the Financial Year 2020.
The company operates its business through franchise-owned exclusive brand outlets (EBOs), with the remaining by multi-brand outlets (MBOs), large format stores (LFSs), and online platforms, including its website (www.manyavar.com) and mobile application.
As of September 30, 2021, the company had a retail footprint of 1.2 Mn sq. ft covering 535 EBOs (including 55 shop-in-shops) spanning 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada, and the UAE.
Competitive Strengths:
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | |||
| Total Assets | 14,455.03 | 16,256.53 | 15,915.53 | ||
| Total Revenue | 3,872.90 | 6,250.19 | 9,479.76 | ||
| Profit After Tax | 984.07 | 1,329.03 | 2,366.37 | ||
The market capitalization of Manyavar IPO is Rs 21017.37 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 106.78 |
[Dilip Davda] Though this company suffered a setback for FY21 on account of pandemics, it maintained its margins and posted profits in commensuration with top lines. We have a recent case of loss-making women bottom wear company Go Fashion in the recent past which surprised one and all. This profit-making company may surprise all post listing. Risk seekers may consider an investment with a long term perspective. Read detail review...
The Manyavar IPO is subscribed 2.57 times on February 8, 2022 5:00:00 PM. The public issue subscribed 0.39 times in the retail category, 7.49 times in the QIB category, and 1.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 7.49 |
| NII | 1.07 |
| Retail | 0.39 |
| Total | 2.57 |
| Listing Date | February 16, 2022 |
| BSE Script Code | 543463 |
| NSE Symbol | MANYAVAR |
| ISIN | INE825V01034 |
| Final Issue Price | ₹866 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹866.00 |
| ₹936.00 |
| ₹921.00 |
| ₹993.00 |
| ₹934.85 |
| NSE |
|---|
| ₹866.00 |
| ₹935.00 |
| ₹920.00 |
| ₹992.70 |
| ₹933.55 |
Vedant Fashions Limited
Paridhan Garment Park, 19,
SDF-1, 4th Floor, A501-502,
Kolkata 700 015, West Bengal, India
Phone: +91 33 6125 5495
Email: complianceofficer@manyavar.com
Website: https://www.vedantfashions.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: manyavar.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Manyavar IPO is a main-board IPO of 36,364,838 equity shares of the face value of ₹1 aggregating up to ₹3,149.19 Crores. The issue is priced at ₹824 to ₹866 per share. The minimum order quantity is 17 Shares.
The IPO opens on February 4, 2022, and closes on February 8, 2022.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Manyavar IPO using UPI as a payment gateway. Zerodha customers can apply in Manyavar IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Manyavar IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Manyavar IPO opens on February 4, 2022 and closes on February 8, 2022.
Manyavar IPO lot size is 17 Shares, and the minimum amount required is ₹14,722.
You can apply in Manyavar IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Manyavar IPO will be done on Friday, February 11, 2022, and the allotted shares will be credited to your demat account by Tuesday, February 15, 2022. Check the Manyavar IPO allotment status.
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