Manyavar’s owner Vedanta Fashions has got 945 crore from anchor investors ahead of the initial public offering (IPO) that opened tomorrow.
According to a circular on BSE, Manyavar has allotted 1,09,09,450 equity shares to anchor investors. 866 each, including transaction size 944.75 crores.
Anchor investors include the Government of Singapore, Monetary Authority of Singapore, Fidelity, Nomura, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Ptey, BNP Paribas Arbitrage and Societe Generale.
Apart from this, shares were also allotted to HDFC Life Insurance Company, ICICI Prudential Life Insurance Company, SBI Mutual Fund (MF), ICICI Prudential MF, Axis MF, Kotak MF, Aditya Birla Sun Life MF, Sundaram MF and UTI MF.
The three-day IPO of Vedanta Fashion will open for public subscription on Friday, February 4, 2022 and will end on February 8. price band fixed 824-866 for its initial share sale.
Public issue is purely an offer for sale of 36,364,838 equity shares by the promoter and existing shareholders. the company will raise 3,149 crore on the upper price band through IPO.
According to market observers, the shares of Vedanta Fashion were trading in the gray market (GMP). 43, down from the previous day. The company’s shares are expected to be listed on the stock exchanges NSE and BSE on February 16, 2022.
Vedanta Fashion is one of the largest companies in India in the men’s wedding and celebration wear segment. The company’s flagship brand ‘Manyavar’ is a category leader in the branded wedding and celebration wear market with a pan India presence. The company’s other brands include Tvmev, Manthan, Mohe and Mebaaz.
As of September 2021, the company has an extensive retail network with 546 exclusive brand outlets (EBOs), including 58 shop-in-shops globally, including 11 overseas EBOs in the United States, Canada and the United Arab Emirates. Which is a big Indian country. Migrant
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,