Vedant Asset IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Vedant Asset IPO release date, IPO offer price, subscription, Vedant Asset Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs. 10 |
| Price Band | Rs. 40 |
| Listing At | BSE SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | Oct 13, 2022 |
| Offer for Sale | – |
| Fresh Issue | Rs. 300 Lakh |
| IPO Size | Rs. 300 Lakh |
| Tick Size | 1 |
Vedant Asset IPO is listed at a Rs. 30 premium. Check out the live share price by clicking on the below link.
Vedant Asset IPO – Summary
The company was originally incorporated on July 07, 2015 as a Private Limited Company in the name and style of Vedant Asset Advisors Private Limited under the provisions of the Companies Act, 2013 with the Registrar of Companies, Jharkhand. Subsequently, the name of the company was changed from Vedant Asset Advisors Private Limited to Vedant Asset Private Limited vide a fresh certificate of incorporation dated November 29, 2017 by Registrar of Companies, Jharkhand.
Further, the company was converted into Public Limited Company vide special resolution passed by their shareholders at the Extra ordinary General Meeting held on April 28, 2022 and the name of the company was changed from Vedant Asset Private Limited to Vedant Asset Limited pursuant to issuance of Fresh Certificate of Incorporation dated June 03, 2022 by Registrar of Companies, Jharkhand.
The Corporate Identification Number of the company U74900JH2015PLC003020.
The Promoter of this company is Mr. Lallit Tripathi and Mrs. Priyanka Maheshwari. The lead manager to the issue is HEM SECURITIES LIMITED, and the Registrar to this issue is Bigshare Services Private Limited.
Vedant Asset IPO Date
The opening of Vedant Asset IPO will be on Sep 30, 2022 and the closing date Oct 4, 2022.
Vedant Asset IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 30th Sept | 1.14x | 0.40x | 0.77x |
| 2nd Day – 3rd Oct | 1.96x | 5.86x | 3.91x |
| 3rd Day – 4th Oct | 42.98x | 55.16x | 49.07x |
| Shares Offered or Net Issue | 354,000 | 354,000 | 708,000 |
The shares subscribed by the public will be updated here.
Vedant Asset IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Vedant Asset Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Oct 10, 2022 |
| Refunds Initiation | Oct 11, 2022 |
| Credit of Shares to Demat Account | Oct 12, 2022 |
| Share Listing Date | Oct 13, 2022 |
Vedant Asset IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.40.
Vedant Asset IPO Equity Size
This Initial Public Issue of 7,50,000 Equity Shares of Rs.10 each for cash at a price of Rs.40 per equity share aggregating to Rs.300 Lakh.
Vedant Asset IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 708000 Equity Shares of Rs.10 each.
Issue Size: 750,000 Equity Shares of Rs.10 each, aggregating to Rs. 300 Lakh.
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Vedant Asset IPO – Live Performance
The listing date of this IPO is NA. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Vedant Asset Share Price |
Vedant Asset IPO Grey Market Premium
The Vedant Asset Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Vedant Asset IPO – Company Overview
The company 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 their Mutual fund distribution business.
The Vedant Mitra Kendra acts as Banking – Customer services Point (CSPs) to fulfil all the necessary banking requirements of the people, Adhaar enabled payment system, Direct Money Transfer (DMT), investment in Mutual Funds – mPOS, PAN related services, Insurance services, Loan services and recharge services along with Air, rail and Bus ticketing etc.
They are also looking towards expanding their services in the field of disbursing Government DBT subsidies, Adhaar linked subsidies and providing essential services through their network of Vedant Mitra Kendra.
They believe in taking the financial services to the last mile and in creating an aggressive business model both for their partners and Clients.
Vedant Asset IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 254.63 | 239.16 | 83.13 |
| *Total Revenue | 167.23 | 113.47 | 61.23 |
| Total Expense | 148.86 | 101.98 | 56.63 |
| Profit After Tax | 13.81 | 8.68 | 3.4 |
Earnings per Equity Share (in Lakh)
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 0.69 | 0.43 | 0.86 |
Further, their PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs.13.81 Lakh, Rs. 8.68 Lakh, and Rs.3.4 Lakh, respectively.
Vedant Asset IPO – Promoters
The Promoter of this company is:
- Mr. Lallit Tripathi
- Mrs. Priyanka Maheshwari
List of Related Parties (Key Managerial Personnel)
- Mr. Lallit Tripathi, Chairman and Managing Director
- Mrs. Rama Tripathi, Whole Time Director
- Mrs. Priyanka Maheshwari, Non-Executive Director
- Mr. Gautam Jain, Independent Director
- Mr. Gaurav Bagroy, Independent Director
- Ms. Sradha Sengupta, Chief Financial Officer
- Mr. Shobhan Gupta, Company Secretary and Compliance Officer
Vedant Asset IPO – Promoters Holding
- Pre Issue Share Holding -99.99%
- Pos Issue Share Holding -72.83%
Vedant Asset IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 750,000 Equity Shares aggregating up to Rs. 300 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 42000 Equity Shares aggregating up to Rs. 16.80 Lakh |
| Net Issue to the Public | Up to 708000 Equity Shares aggregating up to Rs. 283.20 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 50% |
| Other than Retail Individual Investors | Not more than 50% |
| Equity Shares outstanding prior to the Issue | 20,11,600 Equity Shares |
| Equity Shares outstanding after the Issue | 27,61,600 Equity Shares |
Vedant Asset IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Financing the expenditure for Business Expansion.
- To meet working capital requirements.
- General Corporate Purpose.
- To meet issue expenses.
Vedant Asset IPO – Business Strategy
- Shortfall of Funds
- Bridge Financing Facilities
- Monitoring Utilization of Funds
- Interim Use of Proceeds
Vedant Asset IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strong product tie ups and Multi-product support
- Single point solution
- Technology & Integration Expertise:
- Team to support business Growth
- Experienced & Qualified Management Team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar -22 | 0.86 | 6.05 | 11.34 |
| 31-Mar-21 | 0.43 | 4.05 | 10.65 |
| 31-Mar-20 | 0.69 | 63.17 | 1.37 |
Vedant Asset IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Vedant Asset Limited | 10 | 57.97 | 0.69 | 6.05 | 167.23 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Vedant Asset IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, Maharashtra, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person :Mr. Sourabh Garg SEBI Regn. No. INM000010981 |
Vedant Asset IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Office No. S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre. Andheri (East), Mumbai – 400 093Tel. No.: +91 22 6263 8200 Email:ipo@bigshareonline.com Website:www.bigshareonline.com Investor Grievance Email:investor@bigshareonline.com Contact Person: Babu Rapheal SEBI Registration No.: INR000001385 |
Vedant Asset IPO – Other Details
- Statutory Auditor – M/s. N.R. Baid and Co. Chartered Accountants,
- Legal Counsel to the Company – Singhi & Singhi Law Chambers LLP
- Bankers to the Company – HDFC Bank Limited, ICICI Bank Limited
Vedant Asset IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Vedant Asset Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Vedant Asset IPO Review FAQs
Check out various FAQs related to Vedant Asset IPO:
What is the Issue Size of Vedant Asset IPO?
The Company is making an initial public offer of 750,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Vedant Asset IPO?
The price band for this particular IPO ranges between Rs.40. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Vedant Asset IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Sep 30, 2022, while the closing date is set at Oct 4, 2022.
What is the Vedant Asset IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Oct 10, 2022, refund initiation is on Oct 11, 2022, credit of shares is on Oct 12, 2022, and share listing date is on Oct 13, 2022.
What is the Vedant Asset IPO Listing Date?
Shares of this company shall be listed in the exchanges Oct 13, 2022. The date, when the listing would be done, is stagnant on Oct 13, 2022.
Who is the Registrar of Vedant Asset IPO?
One of the reputed registrars is managing the issue of this IPO, BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Vedant Asset IPO?
Here are the promoters of this IPO – Mr. Lallit Tripathi and Mrs. Priyanka Maheshwari. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of Vedant Asset IPO?
They have obtained the GMP of this IPO and it is Rs. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Vedant Asset Limited good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Vedant Asset Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the period ended on 31-Mar-22, 31-Mar-21, and 31-Mar-20 were Rs.13.81 Lakh, Rs. 8.68 Lakh, and Rs.3.4 Lakh, respectively.
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