Kedaara Capital acquires 10 per cent stake in Vedant Fashion

PE firm Kedaara Capital has acquired 10 per cent stake in Vedant Fashion, the makers of popular ethnic brand Manyavar, for Rs 400-450 crores. The merged entity of LVMH-sponsored fund L Capital Asia and PE firm Catterton, was also in the race to acquire minority stake in the company. Kolkata-based Manyavar has been aggressively spreading its retail network past five years and has more than 400 stores now. The brand has a policy of not selling even a single garment on discount.