Book Running Lead Manager to the IPO of Vedant Fashions Limited

Initial Public Offering

Service

February 2022

Date

Consumer

Sector

INR 31,492 MN

Deal Value

Book Running Lead Manager to the IPO of Vedant Fashions Limited

I] TRANSACTION SYNOPSIS

IPO Size ~ ₹ 31,500 MN
IPO Structure (Primary / OFS) – / 100%
Post Issue Dilution ~ 15.0%
IPO Price ₹ 866
Subscription (QIB / HNI / Retail)* 2.9x / 0.8x / 0.2x
Total number of applications* 93,672

II] SELECT ANCHOR INVESTORS AND ANCHOR BOOK

  • Axis MF
  • Birla MF + Offshore
  • Fidelity
  • Govt. of Singapore
  • ICICI Prudential MF + Life
  • Kotak MF + Life + Offshore
  • Nomura
  • SBI MF
  • Wellington

III] DEAL HIGHLIGHTS

  • IPO of largest company in India in the men’s Indian wedding and celebration wear segment^
  • Despite market volatility over past 2 weeks and correction of ~6%@, Company listed at a premium of 8.0%#
  • We provided end-to-end client handholding and guidance on various deal contours and timing

*Excluding anchor subscription & after technical rejections ; ^ in terms of revenue, OPBDIT and profit after tax for the Financial Year 2020
# NSE Opening Price is considered @ Movement of Nifty 50 between 2 weeks high and low