three days Initial Public Offering (IPO) Vedanta Fashion Limited, which owns the ethnic wear brand Manyavar, will open for public subscription on Friday, February 4, 2022 and will end on February 8. price band is fixed 824-866 for its initial share sale.
The 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, Vedanta Fashion’s share premium (GMP) has fallen 43 in the gray market today. The company’s shares are expected to be listed on the stock exchanges NSE and BSE on February 16, 2022.
The brokerage angel said, “Vedanta Fashion has high operating margins, asset light business, strong brand and wide range of products, but we believe these positives are captured in the company-controlled valuations. Thus, we have There is a neutral rating on this issue.” In an IPO note.
Vedanta Fashion Limited 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
Analysts at Choice Broking see the issue as aggressively priced, leaving no margin of safety for investors. “Thus it cautions on the valuation front. Also, higher level of realizations (average of sales in FY 2019-FY21 ~50%) may further reduce OCF margins. Considering all parameters We give this issue a ‘Subscribe With Caution’ rating.”
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