India, 12th October 2022: Vedant Asset Limited became the 403rd company to get listed on the BSE SME Platform on October 12, 2022. Vedant Asset Limited came out with an initial public offering of 7,50,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs. 40 Per Equity Share (The “Offer Price”), Aggregating to Rs. 3.00 Crore. The company has successfully completed its public issue on October 04, 2022.
Vedant Asset Limited is Jharkhand based company whose registered office is at Ranchi. The company 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. 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 mobilizations of AUM (Asset under management in Jharkhand), Wealth Forum Award for Highest Business Mobilization in Rest of East in 2015 etc.
Mumbai based Hem Securities Limited, was the lead manager to Vedant Asset Limited.
So far, 152 companies have migrated to the main board. The 402 companies listed on BSE SME Platform have raised Rs.4,400.12 crore from the market and total market capitalization of 402 companies as on October 11, 2022 is Rs. 62,600.38 Crore. BSE is the market leader in this segment with a market share of 60 percent.
SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE was the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.
The response since the launch of this platform by BSE has been very positive till date.