Vedant Asset Limited, which was founded in 2015, conducts business as a Corporate Business Correspondent (BC) of Bank of India, Jharkhand Rajya Gramin Bank (JRGB), and Madhya Pradesh Gramin Bank (MPGB), as well as in the distribution of mutual funds, through a partner network of more than 350 Vedant Mitra partners who operate in various rural and semi-urban areas and manage more than 100 crores of assets.
Customer Services Points (CSPs) to meet all of the public’s banking needs, including air, rail, and bus ticketing, an Aadhaar-enabled payment system, Direct Money Transfer (DMT), mutual fund investment through mPOS, PAN-related services, insurance, loan, and recharge.
Vedant Asset manages more than 500 clients and 100 Crore in AUM.
The Services offers by Vedant Mitra :
- Account Opening
- Deposit/Withdrawal Services
- Other Banking Services
- Mutual Fund investment
- Insurance Loan through Banks and NBFCs
- Adhaar enabled payment System
- Direct Money Transfer services Vedantpay (mATM)
- M-POS (PAN & Adhaar)
- Bill Payments & recharge
- Ticketing and Touring
The company has received awards from numerous organizations, including the CNBC Hall of Fame Award for the year 2019, the CNBC TV18 Best Financial Advisor (IFA Up Country East) Award for the East in 2016, the CNBC TV18 Best Financial Advisor (East) Award for the year 2017, and the Wealth Forum Award for the Highest Business Mobilization in the Rest of East in 2015.
Competitive Strengths :
- Dependable product partnerships and support for several products.
- Solitary point of contact
- Experience with Technology and Integration
- Collaboration to Support Business Growth
- A Management Team with Experience and Qualifications
Details on IPO :
The IPO for Vedant Asset begins on September 30, 2022, and ends on October 4, 2022. The Vedant Asset IPO bid period runs from September 30, 2022, at 10:00 A.M., until October 4, 2022, at 5:00 P.M. On the day of the issue’s conclusion, at 5 PM, UPI Mandate confirmation must be received.
3000 shares make up the Vedant Asset IPO lot size. An individual retail investor may submit an application for up to 1 lot (3000 shares or 120,000 Rs.)
Objective of the Issue :
The following goals will be achieved by the company using the proceeds of the Issue:-
1. Paying for business expansion expenses.
2. To satisfy the need for working capital.
3. The overall corporate goal.
4. To cover issue expenses.