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Vedant Asset IPO is a fixed price issue of Rs 3.00 crores. The issue is entirely a fresh issue of 7.5 lakh shares.
Vedant Asset IPO bidding started from September 30, 2022 and ended on October 4, 2022. The allotment for Vedant Asset IPO was finalized on Monday, October 10, 2022. The shares got listed on BSE SME on October 12, 2022.
Vedant Asset IPO price is ₹40 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹240,000.
Hem Securities Limited is the book running lead manager of the Vedant Asset IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
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 |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 750,000 shares (aggregating up to ₹3.00 Cr) |
| Fresh Issue | 750,000 shares (aggregating up to ₹3.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,011,600 |
| Share holding post issue | 2,761,600 |
| Market Maker portion | 42,000 shares |
Vedant Asset IPO offers 750,000 shares. 354,000 (47.20%) to NII, 354,000 (47.20%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 42,000 (5.60%) |
| Other Shares Offered | 354,000 (47.20%) |
| Retail Shares Offered | 354,000 (47.20%) |
| Total Shares Offered | 750,000 (100%) |
Vedant Asset IPO opens on September 30, 2022, and closes on October 4, 2022.
| IPO Open Date | Friday, September 30, 2022 |
| IPO Close Date | Tuesday, October 4, 2022 |
| Basis of Allotment | Monday, October 10, 2022 |
| Initiation of Refunds | Tuesday, October 11, 2022 |
| Credit of Shares to Demat | Wednesday, October 12, 2022 |
| Listing Date | Wednesday, October 12, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 4, 2022 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
| Lot Size Calculator | |||
Mr. Lallit Tripathi and Mrs. Priyanka Maheshwari are the company promoters.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 72.83% |
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 Rs 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...
The Vedant Asset IPO is subscribed 49.07 times on October 4, 2022 6:57:00 PM. 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) |
|---|---|
| Other | 42.98 |
| Retail | 55.16 |
| Total | 49.07 |
| Listing Date | October 12, 2022 |
| BSE Script Code | 543623 |
| NSE Symbol | |
| ISIN | INE0NC801013 |
| Final Issue Price | ₹40 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹40.00 |
| ₹65.00 |
| ₹65.00 |
| ₹68.25 |
| ₹68.25 |
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
Vedant Asset IPO is a SME IPO of 750,000 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 Shares.
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 Shares, and the minimum amount required is ₹120,000.
You can apply in Vedant Asset IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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