Certain Equity Shares of Vedant Fashions Limited are subject to a Lock-Up Agreement Ending on 9-AUG-2023.
August 08, 2023
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Certain Equity Shares of Vedant Fashions Limited are subject to a Lock-Up Agreement Ending on 9-AUG-2023. These Equity Shares will be under lockup for 546 days starting from 9-FEB-2022 to 9-AUG-2023.
Details:
Pursuant to Regulation 14 and Regulation 16 of the SEBI ICDR Regulations, an aggregate of 20% of the fully diluted post-Offer Equity Share capital of the Company held by the Promoters shall be locked in for a period of eighteen months from the date of Allotment and the shareholding of the Promoters in excess of 20% of the fully diluted post-Offer Equity Share capital shall be locked in for a period of six months from the date of Allotment.
Vedant Fashions Limited is an India-based company. The Company is primarily engaged in manufacturing, trading and sale of readymade ethnic wear for men, women and kids primarily in India under the brand names Manyavar, Mohey, Mebaz, Twamev and Manthan. The Company operates primarily in the manufacturing and trading of readymade garments being Indian wedding and celebration wear for men, women and kids. The Companyâs products include men's ethnic and celebration wear items, such as Indo-western, sherwanis, kurtas, and jackets, and accessories, such as jutti, safa and mala, and womenâs ethnic and celebration wear items, such as lehengas, sarees, stitched suits, gowns and kurtis. The Company operates through a single segment, branded fashion apparel and accessories. The Company has approximately 600+ stores in over 200 cities and in three countries with 11 international stores in the United Arab Emirates and the United States.