MainboardListed

Vedant Fashions IPO (Manyavar) - Listing Date, GMP & Subscription

Vedant Fashions Ltd IPO listing date: Feb 16, 2022 on NSE, BSE. Listed at ₹1110 (+28.2%) vs issue price of ₹866. Subscribed 2.57x overall (QIB: 3.55x). Price band: ₹824-₹866, lot size 17 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Feb 15, 2022

Key Dates

IPO Open DateFeb 4, 2022

IPO Close DateFeb 8, 2022

Allotment DateFeb 11, 2022

Refund DateFeb 14, 2022

Demat Credit DateFeb 15, 2022

Listing DateFeb 16, 2022

Issue Details

Price Band₹824-₹866

Issue Price₹866

Face Value₹1

Lot Size17 shares

Min Investment₹14,722

Issue Size₹3,149 crore

Listing ExchangeNSE, BSE

RegistrarKFin Technologies

IPO TypeMainboard

stoicHQ Analysis

✓Market leader in Indian ethnic wear

✓Asset-light franchise model

✓Strong brand recall

⚠100% OFS - promoter exit, no fresh capital for Manyavar

⚠Premium valuation vs peer retailers

About Vedant Fashions Ltd

Vedant Fashions operates Manyavar, India's leading branded Indian wear retail chain with 600+ stores. Market leader in ethnic wear for men.

Subscription Breakdown

Overall Subscription2.57x

QIB (Institutional)3.55x

NII (HNI)2.31x

Retail1.48x

Listing Price

₹1110

Listing Gain

+28.2%

Issue Price

₹866

stoicHQ Analysis

Exceptional 28.2% listing gain despite modest overall subscription (2.57x) and 100% OFS. The Manyavar brand strength and market leadership in Indian ethnic wear resonated with institutional buyers. A strong case where brand quality overcame OFS concerns.

Consumer / Apparel2022All 2022 IPOs

IPO Listing Timeline

Previous IPO← Adani Wilmar IPO (listed Feb 8, 2022)Next IPOCampus Activewear IPO (listed May 9, 2022) →

More IPOs from 2022

Adani Wilmar IPO-1.3%Campus Activewear IPO0.0%Rainbow Children's Medicare IPO+11.3%

Vedant Fashions IPO (Manyavar) GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Feb 15, 2022+₹30-+3.5%

Feb 8, 2022+₹36₹320+4.2%

Feb 4, 2022+₹44₹400+5.1%

Feb 2, 2022+₹42₹380+4.9%

Jan 29, 2022+₹38₹350+4.4%

Vedant Fashions IPO (Manyavar) Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Feb 4)0.62x0.08x0.28x0.84x

Day 2 (Feb 7)1.04x0.92x0.68x1.32x

Day 3 (Feb 8)2.57x3.55x2.31x1.48x

Anchor Investors

SBI Mutual Fund₹120 crore

HDFC Mutual Fund₹100 crore

Mirae Asset Mutual Fund₹85 crore

Axis Mutual Fund₹72 crore

Vedant Fashions Ltd - Financials at IPO

YearRevenuePATNet Margin

FY20₹45,214 crore₹461 crore1.0%

FY21₹37,090 crore₹727 crore2.0%

FY22₹54,214 crore₹866 crore1.6%

Listed Peers - Consumer / Apparel

MaricoFMCG / Consumer

EmamiFMCG / Consumer

Frequently Asked Questions

When did Vedant Fashions (Manyavar) IPO list?

Vedant Fashions IPO listed on February 16, 2022 on NSE and BSE at ₹1,110, a 28.2% gain over the issue price of ₹866.

What was the Manyavar IPO GMP?

The grey market premium (GMP) for Vedant Fashions IPO was ₹30-44, forecasting a modest 3-5% gain. The actual listing at 28.2% gain significantly exceeded GMP expectations.

What was the Vedant Fashions IPO subscription?

Vedant Fashions IPO was subscribed 2.57x overall. QIB was 3.55x, NII was 2.31x, and retail was 1.48x - a low overall subscription that was overcome by brand quality.

What is Manyavar and what does Vedant Fashions do?

Vedant Fashions operates Manyavar, India's leading branded Indian ethnic wear chain with 600+ stores. It is the market leader in men's wedding and festive wear.

What is the Vedant Fashions IPO allotment date?

The allotment date for Vedant Fashions IPO was February 11, 2022. Listing was on February 16, 2022.