Vedant Asset Limited

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
Email	cs@vedantasset.com
Website	http://www.vedantasset.com/

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%