Two More IPOs Will Hit The Market, Manyavar & Dreamfox Services

Two more IPOs will hit the market, know what is the company’s plan: IPO News.

Vedanta Fashions, which operates fashion brand Manyavar, has received an initial public offering (IPO) approval from the Securities and Exchange Board of India (Sebi).

Along with this, Dreamfox Services has submitted documents for initial public offering (IPO) with market regulator Sebi.

Two more IPOs will hit the market: According to the documents submitted for the Vedanta Fashions IPO, the issue of the company will be in the form of an outright offer of sale (OFS).

Under this, the promoters and existing shareholders of the company will offer 3,63,64,838 shares. The company had applied to SEBI in September for an IPO.

The company has received a ‘conclusion’ for IPO from SEBI on January 18. For any company to go for an IPO, it is necessary to obtain the conclusion of SEBI.

The promoters of the company are Ravi Modi, Shilpi Modi, and Ravi Modi Family Trust. Since this IPO will be purely in the form of an offer for sale, the proceeds of the issue will not accrue to the company.

Two more IPOs will hit the market: The company’s other brands include Tvmev, Mohe, Manthan, and Mebaaz.

According to DRHP, the draft proposal submitted for approval of Dreamfox Services IPO, the IPO of the airport service aggregator platform will be in the form of an out-of-scale offer (OFS).

Under this, 2,18,14,200 equity shares held by promoters Libratha Peter Kalat, Dinesh Nagpal, and Mukesh Yadav will be offered.

This public issue will be equivalent to 41.75 percent equity share capital of the company after the offer of shares.

Dreambox Services enhances the airport experience for passengers through its technology-based platform.

It gives customers access to airport amenities such as lounges, dining facilities, spas, hotels, and baggage transfer services.