Vedanta Fashion IPO will be open to the public for three days on Friday, February 4, 2022 and will close on February 8.
Vedanta Fashion Manyavar IPO: Vedanta Fashions Limited. The IPO will be open for public subscription for three days on Friday, February 4, 2022 and will close on February 8. The price band has been set at Rs 824-866 for the IPO of a company owned by ethnic clothing brand Maniavar.
This public issue is an offer for sale by promoters and existing shareholders for 3,63,64,838 equity shares. The company will raise Rs 3,149 crore in the higher value band through an IPO.
What is Gray Market Premium?
According to market experts, the gray market premium (GMP) of Vedanta Fashion shares has come down to Rs 43. The company’s stock listing on BSE and NSE is expected on 16 February 2022.
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What is expert opinion
Brokerage Angel One said in an IPO note, “Vedanta Fashions has high operating margins, wealth, light business, strong brands and a wide range of products, but we believe that these positive aspects have been a factor in the company’s valuation.” That is why we have given a neutral rating to this issue. “
According to analysts at Choice Broking, the price is too high and there is no margin left for the safety of investors. “Therefore, we need to be careful on the assessment front. Considering all aspects, we recommend ‘subscribing carefully’ to the issue. “
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The largest companies in India include men’s wedding, celebratory wear category.
Vedanta Fashions is one of the largest companies in India in the Men’s Wedding and Celebration Wear segment. The company’s flagship brand Maniavar tops the market in branded wedding and celebration wear. Its presence across the country. Other brands in this group include Twamev, Manthan, Mohey and Mebaz.
As of September 2021, the company has 546 exclusive brand outlets (EBOs) in its retail network, including 58 shop-in-shops worldwide. These include 11 foreign EBOs in the United States, Canada, and the United Arab Emirates, where the Indian population lives in large numbers.