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.
 |
| Gaurav Jain, Director, Hem Securities, Rahil Vasa, Vinod Ambani, President, Reliance Industries Ltd and Hardik Vasa, CMD, Vasa Retail, Ringing the Gong |
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’s
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”
 |
| Kajal Vasa, Hardik Vasa, Vinod Ambani(RIL)Rachna Bhusari (NSE) Gaurav Jain ( Hem Securities) and Rahil Vasa |
While addressing the gathering on the momentous
occasion of the Company’s listing ceremony at NSE, 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 at 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 grow 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 an 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
big push to education in the budget 2018.
Vasa Retail, which has 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 crore 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
public and private sector, Mr Vasa added.
The Company’s
maiden public issue comprising 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
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.
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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