Vedant Asset Limited

Company Profile
Company Name Vedant Asset Limited
Open Date 30-09-2022
Close Date 04-10-2022
Exchange BSE SME
Lot Size 3000 Shares
Issue Price ₹ 40 per share
Issue Size 7,50,000 Equity Shares
Application Amount ₹ 1,20,000
Recommendation Avoid
Vedant Asset Limited was incorporated in the year 2015 and is engaged in the business as a Corporate Business Correspondents including mutual fund 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 Mutual fund distribution business. Vedant Mitra offers banking services (Account Opening, Deposit/Withdrawal Services), Financial services (Mutual Fund Investment, Insurance, Loan), Remittance Services (Aadhaar enabled payment System, Direct Money Transfer services, Vedantpay (mATM). Company has its Registered office in Ranchi, Jharkhand. The company also undertakes PAN related services, Insurance and Loan services and recharge services along with Air, Rail and Bus ticketing etc. Company has also planned to launch the Micro ATM (mATM services) which will enable the banking services in the rural and remote areas.
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Summary of Financials (All financials in Lakh)

For the Period Ended Mar-22 Mar-21 Mar-20
Total Assets 254.63 239.16 83.13
Net Assets 228.03 214.22 5.38
Total Borrowings 74.32 17.4 -
Total Revenue 167.23 113.47 61.22
Profit After Tax 13.81 8.68 3.4

Tentative Timeline

Opening Date 30-09-2022
Closing Date 04-10-2022
Basis of Allotment 10-10-2023
Initiation of Refunds 11-10-2022
Credit of Shares to Demat 12-10-2022
Listing Date 12-10-2022

Objects of the Issue

Financing the expenditure for Business Expansion.
To meet working capital requirements.
General Corporate Purpose and To meet issue expenses.

Contact Information

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

Offer Documents

Vedant Asset Limited DRHP

Registrar Details

Name Bigshare Services Pvt Ltd
Phone +91-22-6263 8200

IPO Reservation

Anchor Investor Shares Offered -
Market Maker Shares Offered 42,000 (5.60%)
Other Shares Offered 3,54,000 (47.20%)
Retail Shares Offered 3,54,000 (47.20%)
Total Shares Offered 7,50,000 (100%)

Shareholding Pattern

Pre Issue Share Holding (Promoters) 99.99%
Post Issue Share Holding (Promoters) 72.83%

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