HomeBusinessManyavar-Owner Vedant Fashions Files initial public offering (IPO) Papers

Manyavar-Owner Vedant Fashions Files initial public offering (IPO) Papers

Manyavar-Owner Vedant Fashions Files IPO Papers

Vedant Fashions’ Manyavar model is a pacesetter in branded Indian marriage ceremony and celebration put on market

Vedant Fashions, the proprietor of ethnic put on model Manyavar, has filed a draft pink herring prospectus with the Securities and Exchange Board of India (Sebi) to boost funds by way of an initial public offering (IPO). The subject shall be a suggestion on the market (OFS) of as much as 36.36 million shares by the promoter and shareholders, together with Rhine Holdings, Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I and Ravi Modi Family Trust.

Rhine Holdings presently has a 7.2 per cent stake in Vedant Fashions, whereas Kedaara AIF holds 0.3 per cent and Ravi Modi Family Trust has 74.67 per cent stake within the firm.

Vedant Fashions is not going to obtain any proceeds from the share offering as it’s a suggestion on the market.

Vedant Fashions’ Manyavar model is a pacesetter within the branded Indian marriage ceremony and celebration put on market. Its different manufacturers embrace Twamev, Manthan, Mohey and Mebaz. Vedant Fashions is owned by Ravi Modi, Shilpi Modi and Ravi Modi Family Trust.

Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities and Kotak Mahindra Capital are the e-book working lead managers to the difficulty. KFin Technologies is the registrar to the difficulty.

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