VASA Retail
and Overseas Ltd, engaged in the retail business, manufacturing,
trading a wide range of stationeries and raw materials, proposes to open its public issue 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, on 24 January 2018 on NSE
Emerge. The issue 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
For more
information, please contact :
AARYANA
MATASCO
Email ID:
smeipos@aaryanamatasco.com;
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