Vedant Asset Limited IPO (Vedant Asset 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 Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
Amount in ₹ Lakhs

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 IPO Details

Vedant Asset IPO DateSep 30, 2022 to Oct 4, 2022
Vedant Asset IPO Face Value₹10 per share
Vedant Asset IPO Price₹40 per share
Vedant Asset IPO Lot Size3000 Shares
Issue Size750,000 shares of ₹10
(aggregating up to ₹3.00 Cr)
Fresh Issue750,000 shares of ₹10
(aggregating up to ₹3.00 Cr)
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
NII (HNI) Shares Offered50% of the net offer
Retail Shares Offered50% of the net offer
Company PromotersMr. Lallit Tripathi and Mrs. Priyanka Maheshwari are the company promoters.

Vedant Asset IPO Timeline (Tentative Timetable)

Vedant Asset IPO opens on Sep 30, 2022, and closes on Oct 4, 2022. The Vedant Asset IPO bid date is from Sep 30, 2022 10.00 A.M. to Oct 4, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Vedant Asset IPO Opening DateSep 30, 2022
Vedant Asset IPO Closing DateOct 4, 2022
Basis of AllotmentOct 10, 2022
Initiation of RefundsOct 11, 2022
Credit of Shares to DematOct 12, 2022
Vedant Asset IPO Listing DateOct 13, 2022

Vedant Asset IPO Lot Size

The Vedant Asset IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).

Retail (Min)13000₹120,000
Retail (Max)13000₹120,000

Vedant Asset IPO Promoter Holding

Pre Issue Share Holding99.99%
Post Issue Share Holding72.83%

Vedant Asset IPO Review

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.

Vedant Asset IPO Subscription Status (Bidding Detail)

The Vedant Asset IPO is subscribed 4.31 times on Oct 4, 2022 10:11:00 AM. The public issue subscribed 6.57 times in the retail category, times in the QIB category, and 2.04 times in the NII category.

CategorySubscription (times)

Company Contact Information

Vedant Asset Limited
3 rd Floor, Gayways House,
Pee Pee Compound,
Ranchi, Jharkhand 834001
Phone: +91 0651-3594782

Vedant Asset IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Leave a Reply

Your email address will not be published. Required fields are marked *