Ethnic wear retailer Manyavar kickstarts work on slated IPO
The company has hired investment banks Kotak, Axis, Isec and IIFL to prepare its draft red herring prospectus. It seeks to raise ₹2,000 crore or more through the IPO, with existing private equity investor Kedaara Capital expected to sell a significant part of its stake
MUMBAI : Ethnic wear brand Manyavar, owned by Vedant Fashions Pvt. Ltd, has started working on a proposed initial public offering (IPO) to raise ₹2,000-2,500-crore, said two people aware of the development, seeking anonymity.
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