Vedant Asset IPO 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 IPO – Overview
| IPO Dates | 30 sept- 4 Oct 2022. |
| IPO Price | INR 40 per share |
| Fresh issue | 750,000 shares (INR 3 crore) |
| Offer For Sale | Nil |
| Total IPO size | 750,000 shares (INR 3crore) |
| Minimum bid (lot size) | 3000 shares |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | BSE Emerge |
Vedant Asset IPO -Tentative Dates
| IPO Offer Opening Date | 30 September 2022 |
| IPO Closing Date | 4 October 2022 |
| Finalisation of Basis of Allotment | 10 October 2022 |
| Initiation of refunds | 11 October 2022 |
| Transfer of shares to demat accounts | 12 October 2022 |
| IPO Listing Date | 12 October 2022 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Company Overview
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, Vedant pay (mATM).
- Other Value-added Services: M-POS (PAN & Adhaar), Bill Payments & recharge, Ticketing and Touring.
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
Objects of the Issue
- Financing the expenditure for Business Expansion.
- To meet working capital requirements.
- General Corporate Purpose.
- To meet issue expenses.
Company Financials
| Particulars | 31-March-22 | 31-June-21 | 31-Mar-20 |
| Total Assets | 254.63 | 239.16 | 83.13 |
| Total Revenue | 167.23 | 113.47 | 61.23 |
| Profit After Tax | 13.81 | 167.23 | 3.4 |
Company Contact Information
Vedant Asset Limited
3 rd Floor, Gayways House,
Pee Pee Compound,
Ranchi, Jharkhand 834001
Phone: +91 0651-3594782
Email: cs@vedantasset.com
Website: http://www.vedantasset.com/
Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
Lead Manager(s)
- Hem Securities Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
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