Vedant Fashions

Vedant Fashions' profit came in at Rs 115.8 crore in Q4FY24, from Rs 108.9 crore in Q4FY23. The company's revenue soared 6.3 per cent to Rs 363.2 crore, from Rs 341.6 crore a year ago

According to the management, the overall performance in 9MFY24 got impacted due to significantly lower weddings nationally, general slowdown impacting consumer sentiments

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The floor price for the OFS has been set at Rs 1,161

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"The offer is being undertaken by the sellers, for achieving the minimum public shareholding of the company...," it said

Vedant Fashions Ltd (VFL), which owns the ethnic wear brand Manyavar, on Wednesday said one of its promoters plans to sell up to 7 per cent stake in the company for at least Rs 1,962 crore. Ravi Modi Family Trust, a promoter of VFL, proposes to sell up to 1.69 crore equity shares, which is 7 per cent of the total issued and paid-up equity share capital of the company, according to a regulatory filing. The floor price for the offer is Rs 1,161 per equity share. "The offer is being undertaken by the sellers, for achieving the minimum public shareholding of the company...," it said. Listed companies are required to have at least 25 per cent public shareholding. Currently, the promoters' holding in the company is 84.88 per cent.

Amid the recent market fall,11 stocks hit record highs. Whenever any stock exhibits reluctantance to weaken despite a pessimistic bias, it means the underlying trend possesses a robust momentum.

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The stock has recovered 34 per cent from its 52-week low of Rs 793 hit on February 24, 2022.

The benchmark Nifty bounced sharply from its low of 15,748 last week to close at 16,630

The stock has fallen 12 per cent from its listing day high of Rs 993 on February 16, 2022. Currently, it is trading just 1 per cent higher over its issue price of Rs 866 per share.

The positive listing-day performance comes even as the ethnic wear maker's Rs 3,150-crore IPO saw subdued response

Vedant Fashions is among the top companies in the Indian wedding and celebration wear segment with the brand name Manyavar Mohey