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VASA Retail and Overseas Ltd IPO opens on NSE Emerge

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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 to16, 00,000Equity 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 La…