Fixed Price IPO | ₹3 Cr | Listed at BSE SME | Fri, Sep 30, 2022 - Tue, Oct 4, 2022
Vedant Asset IPO is a fixed price issue of ₹3.00 crores. The issue is entirely a fresh issue of 0.08 crore shares of ₹3.00 crore.
Vedant Asset IPO bidding started from Sep 30, 2022 and ended on Oct 4, 2022. The allotment for Vedant Asset IPO was finalized on Oct 10, 2022. The shares got listed on BSE SME on Oct 12, 2022.
Vedant Asset IPO price is ₹40 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,40,000.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Securities Ltd..
Refer to Vedant Asset IPO RHP for detailed Information.
IPO Open
Fri, Sep 30, 2022
IPO Close
Tue, Oct 4, 2022
Issue Price
₹40 per share
Market Cap (Pre-IPO)
₹11.05 Cr
| IPO Date | 30 Sep to 4 Oct, 2022 |
| Listed on | Wed, Oct 12, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 7,50,000 shares (agg. up to ₹3 Cr) |
| Reserved for Market Maker | 42,000 shares Hem Securities Ltd. (agg. up to ₹0.1680 Cr) |
| Fresh Issue (Ex Market Maker) | 7,08,000 shares (agg. up to ₹3 Cr) |
| Net Offered to Public | 7,08,000 shares (agg. up to ₹3 Cr) |
| Share Holding Pre Issue | 20,11,600 shares |
| Share Holding Post Issue | 27,61,600 shares |
| BSE Script Code | 543623 |
| ISIN | INE0NC801013 |
Vedant Asset IPO comprises a total issue size of 7,50,000 shares. The net offer to the public is 7,08,000 shares, after excluding 42,000 shares allotted on a firm basis. Of the Net offer 3,54,000 (50.00%) allocated to NII 3,54,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 3,54,000 | 50.00% | 47.20% |
| Retail Shares Offered | 3,54,000 | 50.00% | 47.20% |
| Firm Reservations | |||
| Market Maker Shares Offered | 42,000 | 5.60% | |
| Total Shares Offered | 7,50,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
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 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:
| Period Ended | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 2.55 | 2.39 | 0.83 |
| Total Income | 1.67 | 1.13 | 0.61 |
| Profit After Tax | 0.14 | 0.09 | 0.03 |
| NET Worth | 2.28 | 2.14 | 0.05 |
| Reserves and Surplus | 0.27 | 0.13 | 0.04 |
| Total Borrowing | 0.00 | 0.17 | 0.74 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Financing the expenditure for Business Expansion | 1.07 |
| 2 | To meet working capital requirements | 1.30 |
| 3 | General Corporate Purpose | 0.22 |
| KPI | |
|---|---|
| RoNW | 6.05 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 0.69 | |
| P/E (x) | 80 | |
| Promoter Holding | 99.99% | 72.83% |
| Market Cap | ₹11.05 Cr. |
The Vedant Asset IPO is subscribed 49.07 times on October 4, 2022 6:57:00 PM (Day 3). The public issue subscribed 55.16 times in the retail category, [.] times in the QIB category, and 42.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 42.98 | 3,54,000 | 1,52,16,000 |
| Retail | 55.16 | 3,54,000 | 1,95,27,000 |
| Total | 49.07 | 7,08,000 | 3,47,43,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fee | 0.15 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.03 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.04 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.03 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees*, Underwriting fees and Miscellaneous Expenses) | 0.15 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹65.00 |
| Low | ₹65.00 |
| High | ₹68.25 |
| Last Trade | ₹68.25 |
Lead Manager Reports
Vedant Asset IPO is a SME IPO of 7,50,000 equity shares of the face value of ₹10 aggregating up to ₹3 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Sep 30, 2022, and closes on Tue, Oct 4, 2022.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Vedant Asset IPO using UPI as a payment gateway. Zerodha customers can apply in Vedant Asset IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vedant Asset IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vedant Asset IPO opens on Fri, Sep 30, 2022 and closes on Tue, Oct 4, 2022.
Vedant Asset IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in Vedant Asset IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Vedant Asset IPO will be done on Monday, October 10, 2022, and the allotted shares will be credited to your demat account by Wed, Oct 12, 2022. Check the Vedant Asset IPO allotment status.
The Vedant Asset IPO listing date is on Wed, Oct 12, 2022.
