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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 ₹40.00 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). The minimum lot size investment for 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 Date | September 30, 2022 to October 4, 2022 |
| Listing Date | October 12, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 7,50,000 shares (aggregating up to ₹3.00 Cr) |
| Reserved for Market Maker | 42,000 shares Hem Securities Ltd. (aggregating up to ₹0.1680 Cr) |
| Net Offered to Public | 7,08,000 shares (aggregating up to ₹2.83 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 20,11,600 shares |
| Share Holding Post Issue | 27,61,600 shares |
Vedant Asset IPO offers total 7,50,000 shares. Out of which 3,54,000 (47.20%) allocated to NII, 3,54,000 (47.20%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 42,000 (5.60%) |
| NII (HNI) Shares Offered | 3,54,000 (47.20%) |
| Retail Shares Offered | 3,54,000 (47.20%) |
| Total Shares Offered | 7,50,000 (100.00%) |
Vedant Asset IPO opens on September 30, 2022, and closes on October 4, 2022.
| IPO Open Date | Fri, Sep 30, 2022 |
| IPO Close Date | Tue, Oct 4, 2022 |
| Tentative Allotment | Mon, Oct 10, 2022 |
| Initiation of Refunds | Tue, Oct 11, 2022 |
| Credit of Shares to Demat | Wed, Oct 12, 2022 |
| Tentative Listing Date | Wed, Oct 12, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Oct 4, 2022 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 83.13 | 61.23 | 3.4 | 5.38 | 4.38 | 74.32 |
| 31-Mar-21 | 239.16 | 113.47 | 8.68 | 214.22 | 13.06 | 17.4 |
| 31-Mar-22 | 254.63 | 167.23 | 13.81 | 228.03 | 26.87 | 0 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Vedant Asset IPO is ₹11.05 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 80 |
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.
[Dilip Davda] VAL is providing services as a Corporate Business Correspondent in rural and semi-rural areas. Its financial performance so far has been at a minuscule level. Its future prospects hinge on the success of mATMs initiatives. Based on FY22 earnings, the issue is exorbitantly priced. Low paid-up equity capital post-IPO hints at longer gestation for migration. There is no harm in skipping this pricy IPO. Read detail review...
| Listing Date | October 12, 2022 |
| BSE Script Code | 543623 |
| NSE Symbol | |
| ISIN | INE0NC801013 |
| Final Issue Price | ₹40 per share |
| BSE Listing Group | T |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹65.00 |
| Low | ₹65.00 |
| High | ₹68.25 |
| Last Trade | ₹68.25 |
Vedant Asset Ltd.
3 rd Floor,
Gayways House,
Pee Pee Compound,
Ranchi, Jharkhand, 834001
Phone: +91 0651-3594782
Email: cs@vedantasset.com
Website: http://www.vedantasset.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Vedant Asset IPO is a SME IPO of 7,50,000 equity shares of the face value of ₹10 aggregating up to ₹3.00 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on September 30, 2022, and closes on October 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 September 30, 2022 and closes on October 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 Wednesday, October 12, 2022. Check the Vedant Asset IPO allotment status.
The Vedant Asset IPO listing date is on Wednesday, October 12, 2022.
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