They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market. The offer doesn’t includes any fresh equity shares and there is an offer for sale (OFS) of 36,364,838 equity share by the promoters mentioned in the DRHP. Vedant Fashions Limited, headquartered in Kolkata has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 36,364,838 equity share on 09 September 2021. They’ve developed long-term connections with suppliers and craftsmen throughout the years. Credit – Vedant Fashions Private LimitedĪside from individual customisation for the bride and groom, their wedding portfolio offers several ranges of designs for various members of the wedding entourage. Their goods are made by craftsmen with extensive experience in the Indian wedding and celebration wear industry, as well as their own in-depth understanding of the needs of Indian festivals and weddings. Their product line comprises a wide selection of apparel and accessories, all of which were designed by their designers with experience in catering to the varied regional tastes of the Indian client. With the remainder coming from multi-brand outlets (“MBOs”), large format stores (“LFSs”), and online platforms, such as their website (Manyavar, Mohey, Mebaz, Manthan, and twamev are the company’s major brands, and they are among the best-selling in their respective segments. Sales and Brandsįranchise-owned exclusive brand outlets (their “EBOs”) generated 92.20 percent, 91.14 percent, 90.14 percent, and 87.79 percent of their clients’ Sales in Financial Years 2019, 2020, and 2021, respectively. They have a wide portfolio of leading and unique brands, namely Mebaz, a regional legacy brand serving to the complete family with a long tradition and strong footprint in the states of Andhra Pradesh and Telangana, which they acquired in the financial year 2018. In the women’s Indian wedding and celebration wear market through their brand Mohey, which was launched in 2015. They are focused on strengthening their leadership position in the organised Indian wedding and festival wear market and constructing dominance in the premium and worth sections of the men’s Indian wedding and celebration wear market, respectively, via their brands Twamev and Manthan. Via their beautiful franchisee-owned exclusive brand stores, they seek to provide an aristocratic but smooth buying experience to their consumers by providing a one-stop destination with a wide-spectrum of product options for any joyful event.
They want to share India’s rich culture, customs, and legacy via aspirational yet affordable products across a wide price range. By discovering gaps in the under-served and high-growth Indian wedding and festival apparel sector, they’ve built a multi-channel network and launched brands. With a pan-India reach, the ‘Manyavar’ brand is a segment leader in the branded Indian wedding and celebration apparel industry.
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