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Vedant Asset Limited IPO (Vedant Asset IPO) Detail

Sep 30, 2022 - Oct 4, 2022

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

Vedant Asset Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and Surplus
31-Mar-2083.1361.233.45.384.38
31-Mar-21239.16113.478.68214.2213.06
31-Mar-22254.63167.2313.81228.0326.87
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 Date Sep 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 Size 3000 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 Type Fixed Price Issue IPO
Listing At BSE SME
NII (HNI) Shares Offered50% of the net offer
Retail Shares Offered50% of the net offer
Company Promoters

Mr. 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.

Event Date
Vedant Asset IPO Opening Date Sep 30, 2022
Vedant Asset IPO Closing Date Oct 4, 2022
Basis of Allotment Oct 10, 2022
Initiation of Refunds Oct 11, 2022
Credit of Shares to Demat Oct 12, 2022
Vedant Asset IPO Listing Date Oct 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).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000

Vedant Asset IPO Promoter Holding

Pre Issue Share Holding 99.99%
Post Issue Share Holding

Vedant Asset IPO Prospectus

Vedant Asset IPO Rating

28
3.8
Rating:Rated 3.8 stars
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Company Contact Information

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/

Vedant Asset IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Vedant Asset IPO Review

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Vedant Asset IPO FAQs

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 Sep 30, 2022, and closes on Oct 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Vedant Asset IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Vedant Asset IPO opens on Sep 30, 2022 and closes on Oct 4, 2022.

Vedant Asset IPO lot size is 3000 Shares and the minimum order quantity is .

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Vedant Asset IPO will be done on Oct 10, 2022, and the allotted shares will be credited to your demat account by Oct 12, 2022. Check the Vedant Asset IPO allotment status.

The Vedant Asset IPO listing date is not yet announced. The tentative date of Vedant Asset IPO listing is Oct 13, 2022.
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