{"id":23570,"date":"2022-02-14T17:05:25","date_gmt":"2022-02-14T11:35:25","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-vedanta-fashions-listing-corrected-2\/"},"modified":"2022-02-14T17:05:25","modified_gmt":"2022-02-14T11:35:25","slug":"biz-vedanta-fashions-listing-corrected-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-vedanta-fashions-listing-corrected-2\/","title":{"rendered":"Vedant Fashions to be listed on Wed"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-560934520\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Feb 14 (PTI) Vedant Fashions, which owns the ethnic wear brand Manyavar, is getting listed on the NSE on Wednesday following the completion of its Rs 3,149-crore offer-for-sale share sale last week, which was subscribed 2.6 times.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3211824884\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Based on the upper end of the IPO price band of Rs 866 a share, the company&#8217;s market cap stands at around Rs 21,000 crore.<\/p>\n<p> The qualified institutional buyers category received maximum demand with 7.49 times subscription, non-institutional investors&#8217; part was subscribed 1.07 times and retail investors&#8217; portion obtained only 39 per cent subscription, which had a price range at Rs 824-866 per share.<\/p>\n<p> Vedant will be listed on the National Stock Exchange (NSE) on Wednesday, a merchant banking said on Monday.<\/p><div class=\"trade-content_5\" id=\"trade-1069260587\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The offering was purely an offer-for-sale by the promoters and existing shareholders &#8212; by Rhine Holdings, Kedaara Capital Alternative Investment Fund; and the Ravi Modi Family Trust owned Ravi and Shilpi Modi.<\/p>\n<p> While Manyavar is a category leader in the branded wedding and celebration wear market, its other brands include Twamev, Manthan, Mohey, and Mebaz and it competes with Aditya Birla Fashion Retail, Trent, Metro Brands and TCNS Clothing Company.<\/p>\n<p> In the quarter to September, Vedant&#8217;s revenue grew 31 per cent to Rs 853 crore from Rs 651.1 crore a year ago.<\/p>\n<p> Prior to the public issue, it had raised Rs 944.75 crore from 75 anchor investors such as government of Singapore, Fidelity, Nomura, Morgan Stanley, Abu Dhabi Investment Authority, SBI Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, UTI, ICICI Prudential Life, etc., at the upper price band of Rs 866 per share.<\/p>\n<p> And, according to the merchant banking sources, in addition to anchor investors, GIC, Fidelity, Nomura, SBI MF, Kotak MF, White Oak, Axis MF, Premji and ADIA have also invested in the IPO, according to the market sources. PTI BEN  HRS hrs<\/p>\n<div class=\"trade-after-content\" id=\"trade-76685250\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Feb 14 (PTI) Vedant Fashions, which owns the ethnic wear brand Manyavar, is getting listed on the NSE on Wednesday following the completion of its Rs 3,149-crore offer-for-sale share sale last week, which was subscribed 2.6 times. Based on the upper end of the IPO price band of Rs 866 a share, the company&#8217;s [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-23570","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vedant Fashions to be listed on Wed - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-vedanta-fashions-listing-corrected-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vedant Fashions to be listed on Wed\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Feb 14 (PTI) Vedant Fashions, which owns the ethnic wear brand Manyavar, is getting listed on the NSE on Wednesday following the completion of its Rs 3,149-crore offer-for-sale share sale last week, which was subscribed 2.6 times. 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