Manyavar IPO Analysis BUSINESS OVERVIEW, RELEASE DATE, GMP, PRICE BAND

Manyavar IPO Analysis: BUSINESS OVERVIEW, RELEASE DATE, GMP, PRICE BAND

A few Brands enter so unobtrusively into our way of life that we don’t understand it. Call it Organic development, or a purchaser’s draw towards those brands, a few organizations figure out how to pull it off! Manyavar is one such brand. For an organization that got going with Rs. 10,000 in seed capital right back in 1999, Manyavar has progressed significantly.

The management of Vedant Fashions Pvt. Ltd, the proprietor of ethnic wear brand Manyavar, is assessing a first public offer of stock (IPO) and is required to before long start a proper cycle formal process, three individuals mindful of the improvement said.

They are expected to begin the formal process to designate brokers for the proposed Manyavar IPO, as right on time as one month from now,” said one individual referred to above, mentioning secrecy as he isn’t approved to talk with the media. (Media reports suggest) 

What is Manyavar?

Manyavar began selling its traditional wedding wear through bigger retailers like Pantaloons, however, Modi’s vision was at that point set up. In 2002, he consolidated Vedanta Fashions Private Limited (VFPL), and the organization set up its first store in Bhubaneshwar in 2008. Today, Manyavar has become an ethnic wear behemoth — The brand has 450 stores spread across 170 areas in India, Bangladesh, UAE, Nepal, and the US. It has 100 leader stores—in accordance with a broad 16,000 sq ft display area in Mumbai’s Lower Parel—and 12 worldwide stores.

This development has come with no funding or critical borrowings. Manyavar is totally bootstrapped and is light on debt/obligation.

While its spotlight to date was for the most part on men’s dress, the brand is likewise stretching out itself to ladies’ and youngsters’ wear. In 2016, VFPL dispatched Mohey, a ladies festival wear name, to sell any semblance of lehengas and saris. “We have now forayed into ladies’ ethnic wear with Mohey, which has developed to more than 50 stores across 40 urban areas. We are likewise in conversions with acquisitions in this space,” Modi says. 

With an eye on a lot greater Game, Modi means to hit the INR 2,000 Crores by FY-2021. He has got the desired fixings and an ideal formula, presently it’s simply a question of time.

Financials of Manyavar IPO?

As indicated by organization research stage Tofler, VFPL’s administrative filings show that the organization had a turnover of ₹504 crores in FY16 and a profit before charge (PBT) of ₹139 crores, inferring a solid PBT edge of 28%.

Vedant Fashions revealed a profit of Rs111.3 crore on an income of Rs610.2 crores in the monetary year 2016-17, as per information from the organization’s filings with the Registrar of Companies.

The incomes of Vedant Fashions developed from Rs 760.58 crore in 2018 to Rs 794.91 crore in 2019 while its profits expanded from Rs 148.27 crore to Rs 182.27 crore during a similar period.

Vedant Fashions is backed by Kedaara Capital, which a year ago put around Rs400-450 crore in the organization for a 10% stake, as it was reported by the Economic Times. In May, it was reported that private value firms Kedaara Capital and L Catterton were in conversations to get a minority stake in the retailer.

Vedant Fashion detailed an income of Rs610.24 crore in the monetary year 2016-17, a development of 21% over the income of Rs504.27 crore announced in the earlier year. In 2016-17, the organization’s profit became 23.5% to Rs111.3 crore, as against a profit of Rs90.1 crore in the earlier year.

What would be the price band of the Manyavar IPO?

The price band for the Manyavar IPO offer would be marked through the procedural  book-building measures. The issue price is yet to be decided and released formally by the company.

We will update the article as soon as we get the price information from a trusted source. 

Currently, the company has started the formal documentation and are in talks with ICICI Securities as the lead administrator for the issue and they will be the books formulating lead chiefs to the book building of the issue.

What would be the Grey Market Premium of Manyavar  IPO?

GMP is not officially announced by any good source yet, But when there will be official information about the GMP from trusted sources, we will update it here. 

Make sure to have your notification turned on to get the latest update from our website.

What will be the release date for Manyavar IPO?

The last time the offer was supposed to be released in the year 2017, but it didn’t. Now this time the Initial Public Offer is expected to be issued soon, but the exact date is not yet announced by the officials. As per expectations, the IPO will be launched when the pandemic situation clams down a bit in 2021.

But, when we get accurate and official information about the date we will update it. 

How to apply for Manyavar IPO?

Now, you can apply for the IPO through the normal IPO application process using Zerodha, Upstox or any other broker and if you don’t know how to apply for IPO read our blog on ‘Easy Step by Step guide apply for IPO in India’.

But, honestly speaking, getting allotted for an IPO is like winning a lottery and it depends on your luck. If you do get allotted then read our blog on ‘How to make money using IPO in India’.

Application of IPO is subject to the block of funds with the bank account so during UPI ID application enable the Auto Pay option.

Conclusion:

Liquidity is satisfactory, upheld by solid gathering against nil developing obligation and the shortfall of CAPEX. The money credit limit remained unutilised over the year through March 2020, consequently giving extra monetary adaptability. Additionally, the organization keeps surplus liquidity in the organization at any point in time.

The company is bootstrapped and has ade

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Written by
Sourav Suman
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