​Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake ​

Adani Wilmar to Patanjali Foods: Listed companies with over 75 percent promoter holdings

<ul><li>Shares of Vedant Fashions a.k.a Manyavar listed at ₹936 while the shares were allotted at ₹866 per share.</li><li>The IPO had received a tepid response from investors as its IPO was subscribed just 2.57 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹22,716 crore.</li></ul>Shares of Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, debuted with decent gains on the National Stock Exchange (NSE) and BSE at 8.08% premium over the issue price of ₹866 apiece <a href="https://www.businessinsider.in/stock-market/news/indian-stock-market-is-bummed-out-for-at-least-three-reasons-and-none-of-them-are-going-away-in-a-hurry/articleshow/89561390.cms">despite a weak market momentum</a>. Profit of ₹70 per share is much more than the early grey market premium of ₹40 the company had commanded. Post-listing, the market capitalisation of the company stood at ₹22,716 crore, according to BSE data. The shares of <keyword id="12067383" type="General" weightage="20" keywordseo="manyavar-ipo" source="Orion">Manyavar IPO</keyword> were trading at ₹951.75, higher by 9.89% at 10.28 a.m., on February 16. The ethnic wear company sells its products through five brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is one of the famous brands known for wedding collections. The IPO was open between February 4 and February 8.⁠and was oversubscribed by just 2.57 times by investors. “Vedant Fashion is debuting the secondary market on a positive note despite poor subscription figures. The company has strong brand value with good fundamentals however valuation is a major concern, therefore, investors should approach it from the long-term perspective where any dip of 15-20% from current levels will be a good buying opportunity. Those who applied for listing gain should maintain a stop loss of ₹890,” said Santosh Meena, head of research, at Swastika Investmart. However, most analysts were not very bullish on the IPO as they were not very confident about the company maintaining its profit levels in the coming years because of high margin and inflation pressure. Analysts believe it is difficult to “maintain (margins) given the competition from the local retailers, online retailers and non-branded products and building inflationary pressure. Furthermore, business is highly concentrated on wedding and festival wear and thereby vulnerable to variations in demand,” said a report Choice Broking firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-vedant-fashions-idbi-bank-and-other-hot-stocks-on-february-16/slidelist/89605353.cms">Tech Mahindra, Vedant Fashions, IDBI Bank and other hot stocks on February 16</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/renowned-music-composer-bappi-lahiri-passes-away-at-69/articleshow/89605689.cms">Renowned music composer Bappi Lahiri passes away at 69</a>

Manyavar makes an unexpectedly good listing despite a weak market momentum

<ul><li>Women’s fashion brand Biba Fashions has filed a draft red herring prospectus (DRHP) with the markets regulator SEBI for the IPO.</li><li>The IPO will include fresh issue of shares worth ₹90 crore and 2.77 crore shares will be sold by promoters and existing investors.</li><li>Private equity investors Warburg Pincus and Faering Capital will also cut their stake in the firm through the IPO.</li></ul>Women’s fashion brand Biba Fashions is all set to come up with an initial public offering (IPO) as the company has filed a draft red herring prospectus (DRHP) with India’s markets regulator Securities and Exchange Board of India (SEBI). There is a queue of Indian fashion brands interested in becoming a public company. Few months back ethnic wear brand Fabindia also filed DRHP with the regulator while brands like Manyavar, Go Colors got listed on exchanges recently. Aditya Birla Fashion &amp; Retail and TCNS Clothing are other listed players in the apparel space. The IPO of Biba Fashions will include fresh issue of shares worth ₹90 crore and 2.77 crore shares will be sold by promoters and existing investors. Meena Bindra founded the company in 1988 and now owns over 5% stake in the company. She would sell 37.5 lakh shares through the IPO. Biba Fashions develops, designs, sources, markets and sells a wide portfolio of Indian wear for women and girls across multiple brands including BIBA and Rangriti. They offer consumers a range of products across jewellery, footwear, wallets and fragrances. The fund raised through the IPO will be used to pay debt and some for general corporate purposes. The company reported a loss in FY21 as its offline sales were affected due to COVID-19 restrictions. “We witnessed a 48.79% drop in offline sales between financial years 2020 and 2021, and recorded a loss for the year of ₹118.40 million in fiscal 2021 on account of the impact of COVID-19 on our operations, among others,” said the company in its DRHP. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biba Fashions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹525.8 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹11.8 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹757.2 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹729.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20.2 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/after-coinbase-disables-upi-payments-coinswitch-kuber-halts-rupee-deposits/articleshow/90797569.cms">After Coinbase disables UPI payments, CoinSwitch Kuber halts rupee deposits</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/how-sachin-tendulkar-backed-smaaash-is-making-a-comeback-with-45-stores-by-june-2022/articleshow/90795758.cms">How Sachin Tendulkar-backed Smaaash is making a comeback with 45 stores by June 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-mints-almost-10000-crore-profit-in-just-three-months-than-in-12-months-a-decade-ago/slidelist/90791896.cms">TCS mints almost ₹10,000 crore profit in just three months than in 12 months a decade ago</a>

Indian fashion labels are lining up to go public — Fashion brand BIBA files for IPO after Fabindia

<ul><li>Vedant Fashions, owner of ethnic wear brand Manyavar, is planning to raise ₹3,149 crore through the IPO.</li><li>The IPO has been subscribed 21% in the first two days of subscription process.</li><li>Shares of the company are commanding a premium of ₹40 in the grey market.</li></ul>Today, February 8, is the last day to subscribe to the initial public offering (IPO) of Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar. In the first two days of the subscription process, the IPO received poor response from investors as it was oversubscribed by only 21%. The ₹3,149 crore IPO is a complete offer for sale of 3.63 crore equity shares by promoters and existing shareholders. The price band of the IPO is ₹824-866 per share. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.11 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.09 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.31 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.21 times </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>The ethnic wear company sells its products through five brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is one of the famous brands known for wedding collections. The poor demand for the company’s IPO is reflected from <a href="https://www.businessinsider.in/stock-market/news/manyavars-vedant-fashions-ipo-is-heavily-expensive-for-investors-as-per-analysts/articleshow/89299258.cms">weak analysts commentary </a>and premium in the grey market. Shares of the company are currently commanding a premium of ₹40 in the grey market. Analysts believe it is difficult to “maintain (margins) given the competition from the local retailers, online retailers and non-branded products and building inflationary pressure. Furthermore, business is highly concentrated on wedding and festival wear and thereby vulnerable to variations in demand,” said report Choice Broking firm. While Vedant Fashions gets pricing power over its products as the Indian wedding and celebration wear market is relatively less price-sensitive, pressure to maintain a high margin above 40% seems challenging, say analysts at Choice Broking. A report by Anand Rathi Research pointed out risks like mounting competition in men’s celebration wear from Aditya Birla Fashion and Retail, Reliance, etc., keen competition in women’s celebration wear and slow-down in consumption. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bank-of-baroda-surges-10-as-net-profit-doubles-aims-to-grow-loan-book-by-12-next-year/articleshow/89404686.cms">Bank of Baroda surges 10% as net profit doubles, aims to grow loan book by 12% next year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/heres-why-a-home-loan-is-cheaper-for-you-than-what-the-safest-borrower-in-the-country-pays-as-interest/articleshow/89403833.cms">Here’s why a home loan is cheaper for you than what the safest borrower in the country pays as interest</a>

Last day to subscribe to Manyavar’s IPO; GMP at ₹40 per share

<ul><li>Vedant Fashions, owner of ethnic wear brand Manyavar, will open its IPO on February 4 and will close on February 8.</li><li>The price band of the IPO is ₹824 - 866 per share.</li><li>Shares of the company are already demanding a premium of ₹80 per share in the grey market.</li></ul>Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, will open its initial public offering (IPO) on February 4 and will close on February 8. The company caters to the Indian celebration wear market with a diverse portfolio of brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is a category leader in the branded wedding and celebration wear market with a pan-India presence, as per the company. As of September 30, 2021, Vedant Fashions has 535 exclusive brand outlets (EBOs) spanning across 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada and the UAE. The company offers products through both offline and online mode but 90% of its sales comes through exclusive outlets. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions (FY21) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sales </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% to total </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exclusive brand outlets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹753 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90.14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multi-brand stores and large format stores </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹63 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.63% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">E-commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.23% </td></tr></tbody><tbody></tbody></table>(Source: Red Herring Prospectus) The ₹3,149 crore IPO is a complete offer for sale of 3.63 crore equity shares by promoters and existing shareholders. Shares of the company are already demanding a premium of ₹80 per share in the grey market. Vedant Fashions is a profitable company however, its financial performance has declined marginally in FY21. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹564 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹132 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹915 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹236 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹800 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹176 crore </td></tr></tbody><tbody></tbody></table>(Source: Red Herring Prospectus) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/railways-stocks-rally-on-expectation-of-strong-budget-allocation-to-the-sector/articleshow/89173796.cms">Railway stocks have been buzzing for the last one month on expectation of significant budget allocation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/30-day-monthly-recharge-plans-for-prepaid-users-now-as-per-trai/articleshow/89173110.cms">Prepaid mobile users may get to do one less recharge a year, but savings are not assured</a>

Ethnic apparel brand Manyavar’s IPO opens on February 4; GMP already at ₹80 per share

<ul><li>Manyavar is likely to announce its share allotment status today.</li><li>Vedant Fashions, owner of ethnic wear brand <keyword id="12067383" type="General" weightage="20" keywordseo="manyavar-ipo" source="Orion">Manyavar IPO</keyword>, was subscribed 2.57 times.</li><li>The IPO will be listed on February 16 on exchanges.</li></ul>Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, is likely to announce the allotment status of its initial public offering (IPO) today, February 11. The IPO was open for subscription from February 4 to February 8. Manyavar’s IPO received a tepid response from investors as its IPO was subscribed just 2.57 times the number of shares offered in the three days of IPO bidding process. Moreover, the grey market premium of the company’s shares show a small premium of ₹10 from the higher end of the price band. It seemed like most retail investors skipped the IPO considering it was just subscribed 39% till the last day of the IPO bidding process. The company caters to the Indian celebration wear market with a diverse portfolio of brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is a category leader in the branded wedding and celebration wear market with a pan-India presence, as per the company. Here is how to <keyword id="12067382" type="General" weightage="20" keywordseo="vedant-fashions-ipo" source="Orion">Vedant Fashions IPO</keyword> allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Vedant Fashions’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Vedant Fashions’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rbi-surprises-equity-markets-by-being-chill-about-inflation/articleshow/89475910.cms">RBI surprises markets by being chill about inflation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/home-loans-will-remain-cheap-for-a-little-longer/articleshow/89473251.cms">Home loans will remain cheap for a little longer</a>

Manyavar IPO: Here’s how you can check the allotment status

<ul><li><keyword id="4509405" type="General" weightage="20" keywordseo="vedant-fashions" source="Orion">Vedant Fashions</keyword>, owner of ethnic wear brand Manyavar, will open its IPO today, February 4, and will close on February 8.</li><li>The ₹3,149 crore IPO is a complete offer for sale of 3.63 crore equity shares by promoters and existing shareholders.</li><li>Shares of the company were trading at a premium of ₹50 per share in the grey market.</li></ul>Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, will open its initial public offering (IPO) today, February 4. The ₹3,149 crore IPO is a complete offer for sale of 3.63 crore equity shares by promoters and existing shareholders. The price band of the IPO is ₹824 - 866 per share. Also, the company is fetching a premium of ₹50 over the upper price band of ₹866 in the grey market. Here are some of the important details of the IPO: <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 4 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 8 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 11 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 14 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 15 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 16 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17 </td></tr></tbody></table>The ethnic wear company sells its products through five brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is one of the famous brands known for wedding collections. As of September 30, 2021, Vedant Fashions has 535 exclusive brand outlets (EBOs) spanning across 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada and the UAE. However, buying clothes from a famous brand is not similar to buying shares of the same company. <a href="https://www.businessinsider.in/stock-market/news/manyavars-vedant-fashions-ipo-is-heavily-expensive-for-investors-as-per-analysts/articleshow/89299258.cms">Click here </a>to read the analysts view on whether to subscribe to the IPO or not. The company’s profit was impacted in FY21 due to the COVID-19 situation. Adding to it, analysts are not very confident about the company maintaining its profit levels in the coming years because of high margin and inflation pressure. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/know-how-the-union-budget-2022-may-impact-home-prices/articleshow/89322645.cms">Want to buy your dream home? Know how the union budget may impact home prices</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/cognizant-reports-strong-revenue-growth-with-an-improving-attrition-rate/articleshow/89315375.cms">Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate</a>

Manyavar IPO opens today — Check out the important dates and details of the IPO

<ul><li><keyword id="4509405" type="General" weightage="20" keywordseo="vedant-fashions" source="Orion">Vedant Fashions</keyword>, owner of ethnic wear brand Manyavar, is all set to open its IPO from February 4 at ₹824-866 per share.</li><li>Shares of the company are already demanding a premium of ₹40 per share in the grey market.</li><li>However, analysts are not very confident about the company maintaining its profit levels in the coming years because of high margin and inflation pressure.</li></ul>If you are looking to invest in the upcoming initial public offering (IPO) of ethnic wear brand ‘Manyavar’, then you may want to know what analysts are suggesting before investing. Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, will open its IPO on February 4 and will close on February 8. The ethnic wear company sells its products through five brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is one of the famous brands known for wedding collections. However, buying clothes from a famous brand is not similar to buying shares of the same company. Before moving ahead, here’s how the company’s financials have behaved in the past three years. <div type="image" title="vedant 2" height="900" width="1200" msid="89299259" hostid="261"></div>The profit was impacted in FY21 due to the COVID-19 situation. Moreover, analysts are not very confident about the company maintaining its profit levels in the coming years because of high margin and inflation pressure. While Vedant Fashions gets pricing power over its products as the Indian wedding and celebration wear market is relatively less price-sensitive, pressure to maintain a high margin above 40% seems challenging, say analysts at Choice Broking. Analysts believe it is difficult to “maintain (margins) given the competition from the local retailers, online retailers and non-branded products and building inflationary pressure. Furthermore, business is highly concentrated on wedding and festival wear and thereby vulnerable to variations in demand.” “Thereby, we view the issue is aggressively priced leaving no margin of safety for investors,” said the report by the broking firm while it assigned ‘Subscribe with Caution’ rating for the IPO. A report by Anand Rathi Research pointed out risks like mounting competition in men’s celebration wear from Aditya Birla Fashion and Retail, Reliance, etc., keen competition in women’s celebration wear and slow-down in consumption. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Listed peers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Market cap </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Share price as of Feb 2 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Page Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹48,262 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹43,269 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Fashion &amp; Retail </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹28,978 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹308 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Trent </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹24,512 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,094 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹21,017 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹866 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Lux Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹8,641 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,877 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">V-Mart Retail </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹7,373 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹3,735 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Go Fashion </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹5,638 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,044 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Raymond </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹5,115 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹768 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCNS Clothing </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,589 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹745 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Arvind Fashions </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,226 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹319 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rupa Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,134 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹519 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shoppers Stop </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,066 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹371 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kewal Kiran Clothing </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,419 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹230 </td></tr></tbody></table>Source: BSE SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/meet-maju-kuruvilla-the-new-indian-origin-ceo-of-fintech-startup-bolt/slidelist/89292220.cms">Meet Maju Kuruvilla, the new Indian-origin CEO of fintech startup Bolt</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">More employees are leaving Tech Mahindra than TCS and Wipro</a>

Here’s why analysts are saying Manyavar’s IPO is heavily expensive leaving very little room for investor profit

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s loss has reduced sharply in the last months to ₹63 crore from ₹352 crore last year.</li><li>However, investors were still disappointed as the company’s drop in customer delivery charges affected its revenue growth.</li><li>As a result, shares of the company slipped 6% to ₹88 on Friday morning.</li></ul>Online food delivery firm Zomato’s loss is finally declining, but that is not enough to please investors. The company’s consolidated loss narrowed sharply to ₹63 crore for the quarter ended December as against a loss of ₹352 crore in the same period last year. The company had reduced its customer delivery charges, which had impacted its adjusted revenue and gross order value in the quarter. Gross order value grew merely by 1.7% quarter-on-quarter to ₹55 billion in October to December. “We believe that the weak QoQ [quarter-on-quarter] growth in gross order value was primarily due to reduction in customer delivery charges as mentioned above, in addition to a soft impact of post-COVID reopening (including some shift from delivery to dining out),” said Zomato. Also, average order value (which includes customer delivery charges) shrunk by close to 3% quarter-on-quarter, mostly on account of reduction in customer delivery charges. Analysts at Credit Suisse <a href="https://twitter.com/CNBCTV18Live/status/1491955202274238465">reportedly </a>said that this was a weak quarter for the company as growth in gross order value slowed down. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BofA Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹115 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹120 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹150 </td></tr></tbody></table>Following this, shares of the company slipped 6% on February 11 to ₹88, very close to its issue price of ₹76. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-your-allotment-status-for-manyavar-ipo/articleshow/89488294.cms">Manyavar IPO: Here’s how you can check the allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/government-blocks-over-60-social-media-accounts-for-spreading-anti-india-fake-news/articleshow/89478547.cms">Government blocks over 60 social media accounts for spreading anti-India fake news</a>

Zomato’s customers are happy, but investors are not

<ul><li>Nasdaq-listed <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> Technology Solutions posted highest-ever quarterly revenue growth of 14.5% in constant currency to $4.8 billion for the fourth quarter ended December</li><li>Moreover, the company also forecasted for a highest-ever revenue growth of 8.5-11.5% for 2022.</li><li>Shares of the IT major ended 2% higher on February 2 on Nasdaq.</li></ul>Nasdaq-listed information technology (IT) major Cognizant Technology Solutions has delivered its highest-ever quarterly revenue in October to December quarter, signalling positive cues to its Indian counterparts like Infosys, TCS, Wipro etc. It has posted a revenue growth of 14.5% in constant currency to $4.8 billion. Moreover, it forecasts revenue growth of 8.5-11.5% in constant currency for next year 2022 at $20.0-$20.5 billion. The company follows the calendar year for its financial performance. <div type="image" title="cognizant rev 2" height="900" width="1200" msid="89315381" hostid="261"></div>Following strong quarterly earnings, shares of the IT major ended 2% higher on February 2 on Nasdaq. Another positive element in Cognizant’s earnings, which can be a sign of relief for the Indian IT industry, is its improving rate of attrition. Cognizant’s attrition rate has improved to 31% in the fourth quarter from 33% in the third quarter with 3.30 lakh total employees. “During 2021, we continued to invest in our people and strategic initiatives while navigating the heightened cost pressures driven by the labor supply demand imbalance,” said Jan Siegmund, chief financial officer at Cognizant. However, Cognizant still has the highest attrition rate compared to its Indian peers. <div type="image" title="cognizant attrition 2" height="900" width="1200" msid="89315410" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/manyavars-vedant-fashions-ipo-is-heavily-expensive-for-investors-as-per-analysts/articleshow/89299258.cms">Here’s why analysts are saying Manyavar’s IPO is heavily expensive leaving very little room for investor profit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">More employees are leaving Tech Mahindra than TCS and Wipro</a>

Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate

<ul><li>Most clothing <keyword id="44446" type="General" weightage="20" keywordseo="retailers" source="Orion">retailers</keyword> say that this wedding season saw no growth in sales, while many reported a drop. </li><li>Most of them blame the economic slowdown, while others attribute it to high prices, and fewer auspicious dates. </li><li><keyword id="222658" type="General" weightage="20" keywordseo="retailers-association" source="Orion">Retailers Association</keyword> of India too says that sales across categories has moderated, due to the high base effect in the previous year that saw extraordinary growth. </li></ul>The economic slowdown seems to be taking a toll on one of India’s most vibrant spending seasons — that of the big fat Indian weddings. This year, 83% of respondents of a survey by Clothing Manufacturers Association of India (CMAI) said there has been absolutely ‘no growth’ as compared to the wedding season of 2022. Also, 40% of them said that there has been a drop in sales to the tune of 10-25% over the previous year. The wedding season generally runs from April to June. Indian brides seem to be going austere as a large majority of clothing retailers said that the economically priced products fared better than the more expensive varieties. “Lighter embroideries and pastel colours were more in demand as per the survey results,” says CMAI. “Currently the market is seeing a fairly significant slowdown, which has been caused by the overall inflationary conditions in the market. The first quarter of the current financial year is likely to be disappointing for the industry, and the impact is being felt by both the value as well as the upper segments of consumers,” said Rajesh Masand, president of CMAI. More than 60% of the respondents attributed the weak performance to the general economic slowdown. While 14% of them attributed it to high prices, 13% believe that the fewer number of auspicious dates as compared to the previous season contributed to the drop. The high base effect A survey by Retailers Association of India (RAI) said that retailers across categories saw a modest growth of 7% in the month of May compared with last year. Jewellery and apparel showed moderate growth at 9%. “As consumers are now getting into their normal business routines, we are witnessing moderate growth over previous year. However, we are also aware that April and May months in 2022 witnessed extraordinary growth at 23% and 24%, respectively, compared to pre-pandemic periods (April 2019 and May 2019),” said Kumar Rajagopalan, chief executive officer, RAI. The apparel industry has been growing at a fairly consistent rate of 8-10% per annum, said CMAI. The industry saw a revival in 2022 as consumers went back to the physical stores and markets – and 2022-23 is estimated to have seen growth of 15-20%. “However, with the costs of raw materials as well as overall cost of production having gone up substantially, this growth has been entirely price-led, and the volumes would still be below the previous year by 3-5%,” said CMAI. Women go West, men go Indian The apparel sector is also seeing a shift in trends due to higher urbanisation of India. “Exposure to western culture with accessibility to content over social media platforms is influencing the dressing patterns and fashion sense amongst the youth, which is causing a gradual shift from traditional clothing to western clothing, especially in the women’s wear segment,” Rahul Mehta, chief mentor at CMAI. Mehta, however, added that the men’s wear segment is seeing some sort of a ‘return to tradition’ — as more men are seeking to go traditional during festivals and weddings. The share price of companies in the sector — Go Fashion, Raymond and Vedant Fashions, which owns the Manyavar brand – have come off their monthly highs. Vedant fell 6% as compared to last week. Shares of Go Fashion – which is into premium leggings and such apparel — remained flat this week, as did the shares of premium clothing brand Raymond. SEE ALSO <a href="https://www.businessinsider.in/business/news/over-a-100-mn-indians-have-tried-products-pushed-by-influencers-and-its-growing/articleshow/101331878.cms">Over a 100 mn Indians have tried products pushed by influencers and its growing</a> <a href="https://www.businessinsider.in/india/news/a-million-streams-every-3-minutes-but-only-5-of-ott-audio-users-pay-for-it/articleshow/101313692.cms">A million streams every 3 minutes, but only 5% of OTT audio users pay for it</a>

Indian brides go austere with lower priced, light-embroidery trousseaus this season

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> surged in morning trade on Thursday amid positive cues in global markets. </li><li>The gains were led by stocks in the banking and metal sectors. </li><li>Both Sensex and Nifty50 were up by 0.3%, with Sensex hovering at 61,742 points and Nifty50 at 18,230 points.</li></ul>India’s benchmark indices Sensex and Nifty50 surged in morning trade on Thursday amid positive cues in global markets. The gains were led by stocks in the banking and metal sectors. Both Sensex and Nifty50 were up by 0.3%, with Sensex hovering at 61,742 points and Nifty50 at 18,230 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.43% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.24% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.64% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.07% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.91% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.77% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.78% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.69% </td></tr></tbody></table> Source: NSE, as on May 18, 2023 Earlier on Wednesday, markets lost momentum and closed the day in the red as metals, realty and IT stocks dragged the indices down. Gold prices edged lower to ₹60,100 per 10 grams while silver was hovering at ₹72,700 per kilogram. Crude oil prices edged up, with Brent crude hovering at $77 per barrel. <cmsannotation type="cmsannotation" annotationid="Optimism on debt ceiling drives markets up" comment="subhead" text="Optimism on debt ceiling drives markets up">Optimism on debt ceiling drives markets up</cmsannotation> Optimism about the US revising the debt ceiling upwards and not defaulting drove the US markets on Wednesday. While the Dow Jones closed 1.24% up on Wednesday, S&amp;P 500 gained 1.19%. The tech-heavy Nasdaq rallied 1.28%. Asian markets were in the green on Thursday morning, with Nikkei 225 gaining 1.44%, followed by Hang Seng which was up 1.42%. Taiwan Weighted rallied 1.1%, followed by Shanghai Composite which was up 0.66%, while KOSPI gained 0.54%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Earnings today: <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword>, <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>, InterGlobe Aviation, Tata Elxsi, GAIL India, United Spirits, Zydus Lifesciences, Ramco Cements, PI Industries, Gland Pharma, Bata India, RITES, PNB Housing Finance, Syrma SGS Technology, Clean Science and Technology, Thomas Cook (India) and Ujjivan Financial Services are among companies to release their quarterly earnings today. <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, HDFC: The RBI has approved asset management company SBI Funds Management’s proposal to acquire 9.99% stake in HDFC Bank. Currently, the AMC holds 5.07% stake in HDFC Bank and 3.79% stake in HDFC. Adani Group: The investment arm of Goldman Sachs Group reduced its exposure to Adani Group drastically in its ESG portfolios in the weeks following allegations of fraud by Hindenburg Research, as per Bloomberg report. Devyani International: The company which has the franchisee of KFC, Pizza Hut, reported a 20% fall in its net profit at ₹60.7 crore in March quarter while revenue rose 28% to ₹755 crore. PVR Inox: Following merger, the multiplex operator PVR Pictures has been renamed as PVR INOX Pictures. The merged entity operates 361 cinemas with 1,689 screens across 115 cities till FY23 in India and Sri Lanka. Vedant Fashions: Ravi Modi Family Trust, a promoter entity in the clothing brand Manyavar, has launched an offer for sale to slash its shareholding by 9.88%. The floor price for the OFS will be ₹1,161 per share, which is at a discount of 6.84% against the last closing price.

Sensex, Nifty50 surge in morning trade led by banking and metal stocks

<ul><li><keyword id="236770" type="General" weightage="20" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> is likely to announce its share allotment status today.</li><li>FMCG company Adani Wilmar’s – known for edible oil brand Fortune IPO was subscribed 18.33 times.</li><li>The IPO will be listed on February 8 on exchanges.</li></ul>The fast moving consumer goods (FMCG) company Adani Wilmar’s – known for edible oil brand Fortune, is likely to announce the allotment status of its initial public offering (IPO) today, February 3. The IPO was open for subscription from January 27 to January 31. The company received bids for 212.7 crore shares as against 11.6 crore shares on offer. In the first two days of the subscription process, the IPO received a tepid response from investors as it was oversubscribed by 1.19 times. However, on the last day, Supriya Lifescience IPO received great demand from investors as its IPO was subscribed for 18.33 times the number of shares offered. Moreover, the grey market premium of the company’s shares showed a premium of ₹40 from the higher end of the price band. Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar. Here is how to <keyword id="11909643" type="General" weightage="20" keywordseo="adani-wilmar-ipo" source="Orion">Adani Wilmar IPO</keyword> allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Adani Wilmar’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Adani Wilmar’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/manyavars-vedant-fashions-ipo-is-heavily-expensive-for-investors-as-per-analysts/articleshow/89299258.cms">Here’s why analysts are saying Manyavar’s IPO is heavily expensive leaving very little room for investor profit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">More employees are leaving Tech Mahindra than TCS and Wipro</a>

You Searched For "manyavar share price" and got 14 results

Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake

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Indian fashion labels are lining up to go public — Fashion brand BIBA files for IPO after Fabindia

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Last day to subscribe to Manyavar’s IPO; GMP at ₹40 per share

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Ethnic apparel brand Manyavar’s IPO opens on February 4; GMP already at ₹80 per share

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Manyavar IPO opens today — Check out the important dates and details of the IPO

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Here’s why analysts are saying Manyavar’s IPO is heavily expensive leaving very little room for investor profit

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Zomato’s customers are happy, but investors are not

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Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate

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Indian brides go austere with lower priced, light-embroidery trousseaus this season

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Sensex, Nifty50 surge in morning trade led by banking and metal stocks

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Adani Wilmar IPO: Here’s how you can check the allotment status

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You Searched For "manyavar share price" and got 14 results

​Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake ​

Bhakti Makwana

Adani Wilmar to Patanjali Foods: Listed companies with over 75 percent promoter holdings

Rounak Jain

Manyavar makes an unexpectedly good listing despite a weak market momentum

Bhakti Makwana

Indian fashion labels are lining up to go public — Fashion brand BIBA files for IPO after Fabindia

Bhakti Makwana

Last day to subscribe to Manyavar’s IPO; GMP at ₹40 per share

Bhakti Makwana

Ethnic apparel brand Manyavar’s IPO opens on February 4; GMP already at ₹80 per share

Bhakti Makwana

Manyavar IPO: Here’s how you can check the allotment status

Bhakti Makwana

Manyavar IPO opens today — Check out the important dates and details of the IPO

Bhakti Makwana

Here’s why analysts are saying Manyavar’s IPO is heavily expensive leaving very little room for investor profit

Bhakti Makwana

Zomato’s customers are happy, but investors are not

Bhakti Makwana

Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate

Bhakti Makwana

Indian brides go austere with lower priced, light-embroidery trousseaus this season

Katya Naidu

Sensex, Nifty50 surge in morning trade led by banking and metal stocks

Rounak

Bhakti

Adani Wilmar IPO: Here’s how you can check the allotment status

Bhakti Makwana

Ethnic apparel brand Manyavar’s stock under pressure as promoter to offload stake