1,451,600 Equity Shares of Vedant Asset Limited are subject to a Lock-Up Agreement Ending on 27-OCT-2023.
October 26, 2023
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1,451,600 Equity Shares of Vedant Asset Limited are subject to a Lock-Up Agreement Ending on 27-OCT-2023. These Equity Shares will be under lockup for 381 days starting from 11-OCT-2022 to 27-OCT-2023.
Details:
Pursuant to Regulation 236 and 238 of SEBI (ICDR) Regulations, 2018, an aggregate of 20.00% of the post issue capital held by the Promoters shall be considered as Promoter?s Contribution (?Promoters Contribution?) and shall be locked-in for a period of three years from the date of allotment of Equity shares issued pursuant to this Issue.
In terms of Regulation 238(b) and 239 of the SEBI (ICDR) Regulations, 2018, in addition to the Minimum Promoters contribution which is locked in for three years, the entire pre-issue equity share capital constituting 14,51,600 Equity Shares shall be locked in for a period of one year from the date of allotment of Equity Shares in this Issue.
Vedant Asset Limited is an India-based financial services provider. The Company's products include mutual funds, insurance, loans, Aadhaar enabled payment service (AEPS), m-ATM and POSP. Its mutual funds products include Top Equity Funds, Top Hybrid Funds, Top Debt Funds, Categories Wise Return, Compare Funds, Top ELSS Funds, Retirement Planning and Invest for Children's. The Company provides bike insurance, car insurance, health insurance and life insurance. The Company's bike insurance types include comprehensive policy, standalone policy and third-party insurance cover. It offers various types of loans, such as personal, business, home, loan against property, professional loan and doctor. Its Vedant Pay is a payment marketplace, which offers merchants/traders/small business of middle low/income Indians to a digital mini bank by offering services, such as domestic money transfer (DMT), AEPS, micro- ATM, insurance, loans, mutual funds, pan card, recharge and bill payments.