Vedant Fashions Limited
Nippon India Mutual Fund lowered its stake in Vedant Fashions from 2.84% to 2.37%. The fund sold 11,58,542 shares during the period, reducing its total holding to 57,51,097 shares.
A leading player in India's celebration wear market, the company operates a diverse portfolio of brands catering to weddings and festive occasions across multiple consumer segments. It specializes in men's Indian wedding and celebration wear, serving as a comprehensive one-stop destination for various price points and customer preferences. The company holds a dominant position in what remains a largely unorganized market segment in India.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.