Manyavar-Owner Vedant Fashions Files IPO Papers

Vedant Fashions, the owner of ethnic wear brand Manyavar, has filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The issue will be an offer for sale (OFS) of up to 36.36 million shares by the promoter and shareholders, including Rhine Holdings, Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I and Ravi Modi Family Trust.