Vedant Fashions Limited

Vedant Fashions Limited owns and operates a portfolio of Indian ethnic and celebration wear brands, with Manyavar as its flagship and best known brand. The company describes itself as the largest player in India's men's wedding and celebration wear segment by revenue and profitability, with additional brands including Mohey, Mebaz, Manthan and Twamev spanning men's and women's wear across value, mid-premium and premium price points. At the time of its IPO the company operated several hundred exclusive brand outlets across roughly 200 Indian cities and towns, along with a small number of overseas stores in markets such as the United States, Canada and the UAE, alongside multi-brand outlets, large format store placements and online channels. The business is headquartered in Kolkata and was founded by the Modi family, who remained its controlling promoters through the listing. The IPO itself raised no fresh capital for the company; it was structured entirely as an offer for sale by existing shareholders, including the promoter family trust and pre-IPO institutional investors, who used the offering to partially monetize their holdings while the company's own balance sheet and operations were unaffected by the transaction.

Vedant Fashions raised approximately Rs 944.75 crore from anchor investors ahead of the issue opening, with participation from institutional names including the Government of Singapore, the Monetary Authority of Singapore, Fidelity, Nomura, Wellington and several domestic mutual funds including SBI, Axis, Kotak, ICICI Prudential, DSP, UTI, Sundaram, IDFC and Motilal Oswal.