Vedant Asset was incorporated on July 7, 2015. The company is engaged as a corporate business correspondent of Bank of India, Jharkhand Rajya Gramin Bank and Madhya Pradesh Gramin Bank. It also acts as a mutual funds distributor, through a partner base of more than 350 Vedant Mitra partners working in various rural and semi-urban locations and handling more than 100 crore of assets under mutual fund distribution business.
| Bidding Dates |
|---|
| 30 Sep 2022 - 04 Oct 2022 |
| Subscription |
|---|
| 48.65x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 3000 | 750.0 K | ₹40 | 72.84 % | ₹30.0 M | RHP DOC |
Vedant Asset IPO SUBSCRIPTION STATUS
04 Oct '22Vedant Asset IPO overall subscription rate was 48.65 times the total available shares
Vedant Asset IPO retail subscription rate was 55.16 times in the retail segment
Vedant Asset IPO non-institutional investor subscription rate was 42.98 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
04 Oct 2022 (Day 3) | 55.16x | 42.98x | - |
03 Oct 2022 (Day 2) | 5.86x | 1.96x | - |
30 Sep 2022 (Day 1) | 0.4x | 1.14x | - |
Vedant Asset FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY22 | 1.4 | 15.9 | -7.6 | -8.5 |
| FY21 | 0.9 | 10.1 | -0.2 | -1.2 |
| FY20 | 0.3 | 6.0 | 1.5 | 0.8 |
Vedant Asset IPO SUBSCRIPTION STATUS DETAILS
Vedant Asset had 750.0 K shares on offer
Vedant Asset IPO offer price was ₹40
Vedant Asset IPO minimum Investment was ₹120000
Vedant Asset IPO issue size was ₹ 30.0 M
Vedant Asset had a minimum lot size of 3000 Shares per application
Vedant Asset NUMBER OF SHARES ON OFFER
Vedant Asset IPO IMPORTANT DATES
| Issue Open Date | 30 Sep 2022 |
| Issue close Date | 04 Oct 2022 |
| Allotment Date | 10 Oct 2022 |
| Refund Date | 11 Oct 2022 |
| Demat Account Credit Date | 12 Oct 2022 |
| Listing Date | 13 Oct 2022 |
| Listing on Exchange(s) | BSE |
| Vedant Asset Allotment Status | Exchange |
Vedant Asset IPO subscription opened on 30 Sep 2022, and closed on 04 Oct 2022
IPO allotment for Vedant Asset was finalized on Monday, 10 Oct 2022
IPO listing for Vedant Asset was on BSE on Thursday, 13 Oct 2022
Vedant Asset IPO LISTING GAINS
| Issue Price (adjusted) | 40.0 |
| Listing Open Price | 71.7 |
| Listing Close Price | 64.8 |
| Listing Gain% | 79.1% |
| Current Gain% | 95.2% |
Vedant Asset Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vedant Asset Ltd. | 78.1 | 21.6 | 53.8 | 0.7 | 4.3 | 6.6 | 6.3 | 5 | 29.6 | 0.4 | 80.7 | 1.5 | 80.7 |
| Crisil Ltd. | 4635.4 | 33898.7 | 38.3 | 1.8 | 8.2 | 25.2 | 16.5 | 3755.6 | 12.1 | 766 | 12 | 120.9 | 21.5 |
| Central Depository Services (India) Ltd. | 1332.5 | 27849.2 | 59.1 | -12.4 | 23.6 | 23.3 | 18.8 | 1238.5 | 3.3 | 456.1 | -13.4 | 22.5 | -4.8 |
| IIFL Finance Ltd. | 625.9 | 26624.6 | 12.7 | 0 | 1.9 | 11.9 | 1.9 | 13373.8 | 30.6 | 1660.8 | 338.5 | 49.4 | 548.8 |
| National Securities Depository Ltd. | 817.6 | 16352 | 42.1 | 4.5 | 9.4 | 16 | 9.9 | 1660.2 | 8.1 | 379.7 | 10.7 | 19.4 | 9.4 |
| KFIN Technologies Ltd. | 928.5 | 16048.8 | 47 | -1138.7 | 11.6 | 20.5 | 12.4 | 1343.9 | 19.1 | 343.7 | 3.3 | 19.8 | 0 |
Vedant Asset INFORMATION ON IPO ISSUE
About Vedant Asset
Vedant Asset was incorporated on July 7, 2015. The company is engaged as a corporate business correspondent of Bank of India, Jharkhand Rajya Gramin Bank and Madhya Pradesh Gramin Bank. It also acts as a mutual funds distributor, through a partner base of more than 350 Vedant Mitra partners working in various rural and semi-urban locations and handling more than 100 crore of assets under mutual fund distribution business.
Object of the Issue
- Financing the expenditure for business expansion
- To meet working capital requirements
- General corporate purpose.
- To meet issue expenses
Vedant Asset - PROMOTERS
| Name |
|---|
| Lallit Tripathi |
| Priyanka Maheshwari |
Vedant Asset Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Vedant Asset Registrar to the Issue
Bigshare Services Private Limited
ipo@bigshareonline.comWebsite
Vedant Asset Strengths
Strong product tie ups
The company has created strong relationships and tie-ups with different partners in the banking and other sectors which helps it to cater to different financial needs of the people in the region.
Single point solution
The company's Vedant Mitra Kendra offers many services and acts as a single-point solution to the financial needs of the people. Customers can visit the Vedant Mitra Kendra to solve problems related to banking needs.
Experienced and qualified management team
The promoters of the company Lallit Tripathi and Priyanka Maheshwari have an overall experience of around 25 years and 18 years respectively in the field of providing financial services, mutual fund distribution, and financial distribution services.
Vedant Asset Risks
Wholly depended on banks and mutual fund AMCs
The business is wholly dependent on relationships with banks and mutual fund AMCs. It has entered into agreements with banks and registered with mutual fund AMCs, and any termination of these existing relationships would adversely affect business, results of operations, financial condition, and prospects.
Legal proceedings
There are certain outstanding legal proceedings involving the company, promoter and director. Any failure to defend these proceedings successfully may have an adverse effect on business prospects, reputation, financial conditions and ongoing operations.
IPO FAQs
The promoters of the company are Lallit Tripathi and Priyanka Maheshwari.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 40.0 - 40.0.
The IPO application opens on Sep 30, 2022 and closes on Oct 04, 2022.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Oct 10, 2022.
The refund will be credited to your account on Oct 11, 2022.
The allotted shares will be credited to your demat on Oct 12, 2022.
Vedant Asset Ltd.’s shares listed on the stock exchanges on Oct 13, 2022.