Funds to be utilized for meeting working capital requirements, general corporate and issue expenses
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| At the listing ceremony Gaurav Jain, Director, Hem Securities, Rahil Vasa, Vinod Ambani, President, Reliance Industries Ltd and Hardik Vasa, CMD, Vasa Retail, Ringing the Gong |
The Equity Shares of VASA Retail and Overseas Ltd, engaged in the retail business, manufacturing, trading a wide range of stationeries and raw materials, surged 20 percent to Rs 36, post the listing on NSE Emerge platform.
Lead Managers to the issue Mr Gaurav Jain & Mr Prateek Jain, Directors, Hem Securities, said “We are delighted to have received such a staggering investor response to this IPO which came at an opportune time with right valuations. The Company’s maiden public issue generated record demand among this year SME public issues and was subscribed over 206 times. It’s good to see the SME IPO investors continue to reap bumper returns in 2018 as well from the fundamentally good quality companies that are poised for accelerated growth”
Mr Hardik Vasa, Chairman, Managing Director and Promoter, VASA Retail and Overseas Ltd said “It’s a great moment for all of us at Vasa Group to have our company get listed on NSE Emerge. We have walked a long distance since 1994 to reach this milestone in our successful business and entrepreneurial journey. We thank all our investors and merchant banker for the support in making our IPO incredibly successful. The Company raised Rs 4.80 crore from the public issue which will be utilized for meeting working capital requirements, general corporate and issue expenses”
Mr Vasa added “The best part of being associated with the stationery world is seeing that you are making a difference to children with education, and making learning fun and engaging for everyone. Education as a whole is getting high priority. The market is expanding and consumption is increasing. With a wide range of star products such as Stationery, Copier paper, Bag fabrics, other types of Paper and Paper pulp, the Company is positively looking forward to growing its market share by client acquisitions and other modes of entering into foreign markets. Presently, Company has a client base of approximately 120 overseas clients, has top seller tie-ups with 850 stores which include Modern and Traditional Retail Outlets , has bagged the contract of tie-up with University Of Oxford and has the privilege of being a master licensee for 24 countries which include SAARC, Middle- East and North African countries”
“India is a young country of adorable kids, ambitious and aspiring youth who need quality education, teachers, schooling infrastructure and stationery products that are reliable, interesting, engaging and innovative. We appreciate the efforts of Indian government which has given a big push to education in the budget 2018. Vasa Retail, which has an exclusive license agreement with Oxford Limited, is well placed in its industry space to benefit and cater to the country and export requirement for Stationery and other related products & Items. Stationery is an integral and an essential part of everyone’s life and that is why the estimated size of the market is huge and worth over Rs 11,000 cr. Out of this around Rs, 6000 crores is estimated to be paper stationery, while the rest is categorized as non-paper stationery comprising writing instruments, art materials etc. Market players estimate the growth rate for both segments to rise to around 15% annually in the time to come, fuelled by the interest and investment in the education sector, both from the public and private sector, Mr Vasa added.
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| Kajal Vasa (Wife of Hardik Vasa), Hardik Vasa, Vinod Ambani(RIL)Rachna Bhusari (NSE) Gaurav Jain ( Hem Securities) Rahil Vasa (Mr Hardik Vasa's son) |
The Company’s maiden public issue comprising 16, 00,000 Equity Shares of a face value of Rs. 10 each for cash at price of Rs. 30 per Equity Share, aggregating up to 480 lakh, received an overwhelming response from the investors. The public issue which opened for subscription on Jan 24, 2018, was oversubscribed by 206 times. The HNI and Retail portion subscribed 175.93 and 261.24 times respectively on the last day (Jan 29th), as per data available on NSE Emerge platform. The Lead Manager to the Issue is Hem Securities Limited, a leader in SME IPOs and the Registrar to the Offer is Bigshare Services Pvt. Ltd.
Incorporated on October 20, 2017, VASA Retail and Overseas Ltd has been in the business of art materials and stationery products, executive bags and bag fabric since the year 1994. The Company have a multi-tiered distribution network consisting of distributors, wholesalers, shop in shop, modern retail outlets, multi-brand outlets (MBOs) or retailers and e-commerce platform on a pan-India basis. The Company also markets and sells its stationery products and bags under its own brand "VASTA" in the overseas markets in countries like Saudi Arabia, Kuwait, Qatar, Bahrain, UAE, Oman, and Mauritius. The Company distributes its products through a network of more than 500 stores by way of modern retail outlets, shop in shop, traditional retail outlets, MBO‘s and e-commerce platform in India.
For the fiscal year ended March 31, 2017, March 31, 2016, and March 31, 2015, the total revenue of the Company stood at Rs. 2355 lakhs Rs. 2163 lakhs and Rs. 1868 lakhs respectively. Further, Company’s PAT for the fiscal year ended on March 31, 2017, 2016 and 2015 as per Restated Financial Statements were Rs. 91 Lakhs, Rs. -0.14 lakhs and Rs. -0.11 Lakhs respectively.
The Company have several Awards & Recognitions like Star Retailer Award" for licensee of the year by Franchise India in 2015, Certificate of Appreciation in recognition of contribution to Brand Licensing India by Franchise India in 2015, "Quality Excellence" for outstanding achievements in Business & Social Service by Indian Achievers’ Award in 2016, “Star Retailers Awards” for excellence in Retailing in 2017
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