About the Company:
Vedant Fashions Ltd is the largest company in India in the men’s Indian wedding and celebration wear segment in terms of revenue and profit after tax for the Financial Year 2020.
Company’s brand ‘Manyavar’ is a category leader in the branded Indian wedding and celebration wear market with a pan- India presence,
Company has established a multi-channel network and introduced brands by identifying gaps in the under-served and high-growth Indian wedding and celebration wear category.
Company offers a one-stop destination with a wide-spectrum of product offerings for every celebratory occasion and aim to deliver an aristocratic yet seamless purchase experience to customers through franchisee-owned exclusive brand stores.
Company has established dominance in the premium and value segments of the men’s Indian wedding and celebration wear market through brands, Twamev and Manthan, respectively.
Company has also established presence in the women’s Indian wedding and celebration wear market through brand, Mohey, launched in 2015
In Financial Years 2021, 90.14% of the Sales was generated by franchise-owned exclusive brand outlets (our “EBOs”), with the remaining by multi-brand outlets (“MBOs”), large format stores (“LFSs”) and online platforms, including our website (www.manyavar.com) and mobile application.
Company’s retail footprint:
As of September 30, 2021, company had a retail footprint of 1.2 million square feet covering 535 EBOs (including 58 shop-in-shops) spanning across 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada and the UAE, which are countries with a large Indian diaspora.
In addition to offline retail presence, the consumers also have the option of placing orders through company’s website (www.manyavar.com), mobile application and through leading lateral e-commerce platforms.
Company’s Brand Proposition:
- Mr. Ravi Modi (Designation: Chairman and Managing Director)
- Mrs. Shilpi Modi (Designation: Whole-time Director)
Objectives of the Issue:
Offer for Sale: (Rs. 3149 cr )
- Each of the Selling Shareholders will be entitled to the proceeds of the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.
Peer Group Comparison:
There are no listed companies in India that engage in a business similar to that of Vedant Fashions ltd. Accordingly, it is not possible to provide an industry comparison in relation to the Company.
Positives for the Company:
Market leader in the Indian celebration wear market with a diverse portfolio of brands.
- ‘Manyavar’ brand is a category leader in the branded Indian wedding and celebration wear market with a pan-India presence, as of Financial Year 2020.
- And have established a multi-channel network and introduced brands by identifying gaps in the under-served and high-growth Indian wedding and celebration
- Company is the largest company in India in the men’s Indian wedding and celebration wear segment in terms of revenue, OPBDIT and profit after tax.
Expansion of footprint within India.
- Company intends to focus on expansion in the markets where there is an increasing demand for company’s products.
- Between Financial Years 2016 to 2021, company has increased the EBO retail space footprint from approximately 0.50 million square feet to over 1.1 million square feet, and aim to double the national footprint over the next few years.
Expanding the company’s international presence.
- Company plans to expand the international presence in markets with a large Indian diaspora, strong-rooted Indian traditions and high spending power such as the United States, Canada, United Kingdom, the Middle East, South East Asia and Australia.
Financials of the Company:
|(in Crores)||FY 19||FY 20||FY 21||30th Sept 21|
|Issue Opens on||4th February 2022|
|Issue Closes on:.||8th February 2022|
|Issue Price||Rs.824 – 866|
|Retail Category Allocation||35%|
|Minimum Lot||17 Shares|
|Minimum Investment||Rs. 14,722|
|Issue Size||Rs.3149 cr ($ 425 million)|
|Market Cap||Rs.21017 cr ($ 2.84 billion)|
|Listing at||NSE & BSE|
|Equity Shares Offered (OFS)||3,63,64,838|
|Equity Shares Prior to the Issue||24,26,94,774|
|Equity Shares after the Issue||24,26,94,774|
|Finalization of Basis of Allotment||on or Before 11th February 2022|
|Initiation of Refunds||on or Before 14th February 2022|
|Credit of Equity Shares:||on or Before 15th February 2022|
|Listing Date:||on or Before 16th February 2022|
IPO Valuation Parameters:
|Earnings Per Share (EPS)||Price To Earnings ratio (PE)||Return on Net Worth (RoNW)||Net Asset Value (NAV)|
|Check IPO Allotment Status:|
KfinTech Website : http://kfintech/IPO/Allotment_Status
BSE IPO Website: https://www.bseindia.com/IPO/Allotment
|Company Contact Info:|
|Vedant Fashions Limited
Paridhan Garment Park
19, Canal South Road, SDF-1, 4th Floor
Kolkata 700 015
West Bengal, India.
Telephone: +91 33 6125 5495;
|IPO Registrar Info:|
|Kfin Technologies Private Limited
Selenium Tower B
Plot 31 & 32, Gachibowli
Financial District, Nanakramguda-
Serilingampally, Hyderabad 500 032
Telephone: +91 40 6716 2222