Vedant Asset Limited IPO Detail
Incorporated in 2015, Vedant Asset Limited is engaged in the business as a Corporate Business Correspondents (BC) of Bank of India, Jharkhand Rajya Gramin Bank (JRGB) and Madhya Pradesh Gramin Bank (MPGB) and as Mutual Funds Distribution through a partner base of more than 350 Vedant Mitra partners working in various rural and semi-urban locations and handling more than 100 crores of assets under our Mutual fund distribution business.
Vedant Asset handles more than 100 Crore's of AUM and over 500 Clients.
Vedant Mitra offers the following services :
Banking Services: Account Opening, Deposit/Withdrawl Services, Other Banking Services.
Financial Services: Mutual Fund investment, Insurance, Loan through Banks and NBFCs.
Remittance services: Adhaar enabled payment System, Direct Money Transfer services, Vedantpay (mATM).
Other Value-added Services: M-POS (PAN & Adhaar), Bill Payments & recharge, Ticketing and Touring.
The company has been recognized by many institutes like the CNBC Hall of Fame Award for the year 2019, CNBC TV18 Best financial advisors award for East 2016, CNBC TV 18 Best financial advisor (IFA Up country East) 2017, One of the largest mobilization of AUM (Asset under management in Jharkhand), Wealth Forum Award for Highest Business Mobilization in Rest of East in 2015 etc.
Competitive Strengths:
- Strong product tie-ups and Multi-product support.
- Single point solution.
- Technology & Integration Expertise
- Team to support business Growth
- Experienced & Qualified Management Team
Company Promoters
Mr. Lallit Tripathi and Mrs. Priyanka MaheshwariIPO Details
| IPO Opening Date | Sep 30, 2022 |
| IPO Closing Date | Oct 04, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹40 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹3.00 Cr |
| Fresh Issue | ₹3.00 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 1.14x | 0.40x | 0.77x | |
| Day 2 | - | - | 1.96x | 5.86x | 3.91x | |
| Day 3 | - | - | 42.62x | 47.19x | 44.91x |
IPO Tentative Timetable
The Vedant Asset Limited IPO open date is Sep 30, 2022, and the close date is Oct 04, 2022. The issue may list on Oct 13, 2022.
| IPO Open Date | Sep 30, 2022 |
| IPO Close Date | Oct 04, 2022 |
| Basis of Allotment Date | Oct 10, 2022 |
| Initiation of Refunds | Oct 11, 2022 |
| Credit of Shares to Demat Account | Oct 12, 2022 |
| IPO Listing Date | Oct 13, 2022 |
IPO Lot Size
The Vedant Asset Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹120000 |
| Maximum | 1 | 3000 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 72.83% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 83.13 | 61.23 | 3.4 |
| 31-Mar-21 | 239.16 | 113.47 | 8.68 |
| 31-Mar-22 | 254.63 | 167.23 | 13.81 |
Objects of the Issue:
The company intend to utilize the proceeds of the Issue to meet the following objects:-
1. Financing the expenditure for Business Expansion.
2. To meet working capital requirements.
3. General Corporate Purpose.
4. To meet issue expenses.
Vedant Asset Limited IPO Registrar:
Bigshare Services Pvt Ltd
Vedant Asset Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Vedant Asset Limited
3 rd Floor, Gayways House,
Pee Pee Compound,
Ranchi, Jharkhand 834001
