Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale.
The initial public offer (IPO) is purely an offer for sale of 36,364,838 equity shares by promoter and existing shareholders, according to the draft red herring prospectus (DRHP).
The OFS comprises sale of up to 1.74 crore shares by Rhine Holdings Ltd; up to 7.23 lakh shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I; and up to 1.81 crore shares by Ravi Modi Family Trust. The promoters of the company are Ravi Modi, Shilpi Modi and Ravi Modi Family Trust.
