The initial public offer of VASA Retail and Overseas Ltd, engaged in the retail business, manufacturing, trading a wide range of stationeries and raw materials, has opened for subscription on NSE Emerge on January 24. The public issue comprising of up to 16, 00,000 Equity Shares of face value of Rs. 10 each for cash at price of Rs. 30 per Equity Share, aggregating up to 480 lakhs, will close on 29 January 2018.
The net proceeds from the IPO will be utilized for meeting working capital requirements, general corporate and issue expenses. 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.
For the fiscal year ended on 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. .
Mr. Hardik Vasa, Chairman, Managing Director and Promoter, VASA Retail and Overseas Ltd said “The Company deals in diverse range of Stationeries and Raw Materials and market, sell, distribute, and promote various stationary products under the brand “University of Oxford” to around twenty six (26) countries spread across Asia, Middle East and Africa including India. The Company has exclusive license agreements with Oxford Limited. In addition to the above license arrangement, Company also markets and sells its stationery products and bags under its own brand “VASTA” in the overseas markets. Company distribute products through a network of approximately seven (07) distributors catering to more than 500 stores by way of modern retail outlets, shop in shop, traditional retail outlets, MBO‘s (Multi Brand Outlet) and e-commerce platform in India”
Mr Gaurav Jain & Mr Prateek Jain, Directors, Hem Securities, highlighting the offer and investment rational said “We are happy to bring this issue at an opportune time with right valuations as the Company has shown strong growth in financials as bottom-line of company has turned around from FY16 to FY17 while operating profit of company has grown at CAGR of more than 90% from FY15 to FY17. Company is bringing the issue at p/e multiple of 8.97 on pre issue annualized for period ended Oct 20, 2017 ( Approx 7 Months FY18) EPS at a price of Rs 30/- per Share while peers like Linc Pen & plastics & Kokuyo Camlin are trading at p/e multiple of more than 25”
About VASA Retail and Overseas 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.
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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