Ethnic wear brand Manyavar, backed by Kedaara Capital is looking at issuing an IPO and has hired investment bankers for raising Rs 2000 cr as per reports.
Owned by Kolkata-based ethnic wear heavyweight Vedant Fashion, the apparel retailer was founded in 1999 and has over 600 retail stores across the nation. As per reports Kedaara Capital acquired around a 10% stake in Vedant Fashions in August 2017 for around Rs 400 crore-Rs 450 crore.