Vedant Poly Fabs IPO
- Price band
- ₹88 – ₹94
- Issue size
- ₹56.68 Cr
- Min. investment
- ₹1,12,800
- 1,200 shares
- GMP
- ₹0
- 0.00%
- Subscribed
- —
- Bidding dates
- 2 – 4 Nov 2026
IPO timeline
- Opens2 NovMon
- Closes4 NovWed
- Allotment5 NovThu
- Refunds6 NovFri
- Demat credit6 NovFri
- Listing9 NovMon
Issue details
- Price band
- ₹88 – ₹94 per share
- Issue size
- ₹56.68 Cr
- Fresh issue
- Not available
- Offer for sale
- Not available
- Issue type
- Fresh capital cum OFS
- Face value
- ₹10 per share
- Lot size
- 1,200 shares
- Minimum investment
- ₹1,12,800
- Listing on
- NSE SME
- Exchange code
- —
This issue combines a fresh issue and an offer for sale. The amounts for each part are not available in our data; see the offer document for the split.
Lot size and investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,12,800 |
| Retail (Max) | 1 | 1,200 | ₹1,12,800 |
| HNI (Min) | 2 | 2,400 | ₹2,25,600 |
Reservation
- QIB
- Not more than 50.00% of the Net offer
- Retail
- Not less than 35% of the Offer
- NII
- Not less than 15.00% of the Net Offer
Grey market premium (GMP)
- Current GMP
- ₹0
- 0.00%
- Estimated listing price
- ₹94
- Issue price ₹94
- Highest
- ₹0
- 29 Oct
- Lowest
- ₹0
- 29 Oct
GMP by day (₹ per share)
Day-wise GMP table
| Date | GMP | Premium | Est. listing |
|---|---|---|---|
| 30 Oct 2026 | ₹0 | 0.00% | ₹94 |
| 29 Oct 2026 | ₹0 | 0.00% | ₹94 |
GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.
Subscription status
Subscription figures will appear here once bidding opens on 2 Nov 2026.
Financials
- P/E Ratio
- 17.28
- EPS (₹)
- 5.44
- RoE
- 38.03%
- RoCE
- 46.34%
- RoNW
- 25.95%
- PAT Margin
- 9.52%
- EBITDA Margin
- 16.50%
- Debt / Equity
- 1.11
- NAV (₹)
- 28.70
Separate pre- and post-issue P/E are not available for this IPO; the P/E shown is as disclosed for the issue.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 97.80 | 55.40 | 18.88 |
| Total Income | 115.31 | 81.58 | 49.73 |
| Profit After Tax | 10.97 | 4.56 | 0.64 |
| EBITDA | 19.18 | 8.30 | 1.48 |
| NET Worth | 42.26 | 15.42 | 3.86 |
| Reserves and Surplus | 27.53 | 4.57 | 3.75 |
| Total Borrowing | 46.82 | 13.32 | 6.35 |
Peer comparison
| Company | Issue size | P/E | RoNW | PAT margin | Subscribed | Listing gain |
|---|---|---|---|---|---|---|
| Vedant Poly Fabs This IPO | ₹56.68 Cr | 17.28 | 25.95% | 9.52% | — | — |
| Simca Advertising SME · listed 15 May 2026 | ₹58.04 Cr | 15.39 | 57.44% | 13.31% | 80.93x | — |
| Yaap Digital SME · listed 5 Mar 2026 | ₹80.11 Cr | 24.73 | 53.63% | 7.82% | 4.33x | -12.41% |
| Liqvd Digital India SME · listed 30 Sep 2026 | ₹39.01 Cr | 14.96 | 25.36% | 13.32% | 5.08x | -0.50% |
| Eventions SME · listed 8 Oct 2026 | ₹38.12 Cr | 18.61 | 55.16% | 7.67% | 2.32x | -5.93% |
| Optimystix Entertainment India SME · listed 14 Aug 2026 | ₹108.5 Cr | 16.94 | 17.74% | 13.84% | 1.91x | — |
| Propshop Events & Exhibitions SME · listed 3 Aug 2026 | ₹28.56 Cr | 14.32 | 55.86% | 12.27% | 1.5x | — |
Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.
IPO objectives
How Vedant Poly Fabs plans to use the money raised, as stated in the offer document.
- Funding incremental working capital requirements of the Company₹17.59 Cr
- Prepayment or Repayment of all or a portion of certain secured or/and unsecured outstanding borrowings availed by the company₹8 Cr
- Funding Capital Expenditure for purchase and installation of Plant and Machinery at its existing manufacturing facility₹6.51 Cr
- General Corporate Purposes
- To meet the offer related expenses
About Vedant Poly Fabs
Vedant Poly Fabs Limited was incorporated in December 2018. It is a B2B maker of flexible packaging materials. Its range includes 3-layer and 5-layer LD films, shrink films, barrier films, printed laminates, and milk and oil pouches, sold to food and beverage and other consumer goods companies. The company runs an integrated process that covers raw material buying, film extrusion, printing, lamination, slitting, quality control, packing and dispatch. In March 2026 it added lamination, slitting and pouching machines and installed a reprocessing unit to recycle manufacturing waste. As of 31 March 2026, the company had 72 employees, of whom 41 were permanent and 31 were contractual. It sells directly to customers and has its own transport and logistics set-up.
Strengths
- Total income grew 41.35% from Rs 81.58 crore in FY2025 to Rs 115.31 crore in FY2026, after Rs 49.73 crore in FY2024.
- Profit after tax rose 140.57% from Rs 4.56 crore in FY2025 to Rs 10.97 crore in FY2026, a PAT margin of 9.52%.
- EBITDA grew from Rs 8.30 crore in FY2025 to Rs 19.18 crore in FY2026, an EBITDA margin of 16.50%.
- Return on equity is 38.03%, return on capital employed is 46.34% and return on net worth is 25.95% on the latest figures at the source.
- Net worth rose from Rs 15.42 crore on 31 March 2025 to Rs 42.26 crore on 31 March 2026.
- The P/E is 17.28 at the upper band of Rs 94, based on post-issue EPS of Rs 5.44.
- In March 2026 the company added lamination, slitting and pouching machines, and Rs 6.51 crore of the issue goes to more plant and machinery.
- It makes a wide range of packaging products in-house, from extrusion to printing and lamination, and sells directly to its customers.
Risks
- Only full-year figures to 31 March 2026 are shown. There is no stub-period data, so the latest trading is not visible.
- Total borrowing rose from Rs 13.32 crore on 31 March 2025 to Rs 46.82 crore on 31 March 2026, and the debt to equity ratio is 1.11.
- Growth has been fast from a small base. Profit after tax was only Rs 0.64 crore in FY2024, so the record of strong profit is short.
- The pre-issue P/E is 12.62 on EPS of Rs 7.45, and the post-issue EPS falls to Rs 5.44 because of the new shares, so the valuation is higher after the issue.
- Part of the issue is an offer for sale, so some money goes to the selling shareholders and not to the company. Promoters hold 100% before the issue and will hold 70.08% after it.
- Rs 8.00 crore of the proceeds repays borrowings and Rs 17.59 crore goes to working capital. The source gives no amount for general corporate purposes.
- The source gives no customer or order data, so customer concentration cannot be checked.
- The company had 72 employees as of 31 March 2026, and 31 of them are contractual.
- There are three named promoters, and Affinity Global Capital Market Pvt.Ltd. is the only lead manager named.
- This is an SME issue. One lot is 1,200 shares, which is about Rs 1.13 lakh at the upper band of Rs 94, and SME shares usually trade in low volume after listing.
Promoters and shareholding
Pankaj Kumar Maheshwari, Sujata Maheshwari and Sethsawaria Poly Fab LLP
- Promoter holding, pre-issue
- 100%
- Promoter holding, post-issue
- 70.08%
Registrar, lead managers and documents
Lead manager
Company contact
6/1/Q Digberia Road, Barasat, P.O. Badu, PS Barasat North 24 Parganas, Badu, Barasat, West Bengal, 700128
+91 8240877760
cs@vedantpolyfabs.comVedant Poly Fabs IPO: common questions
1.When does the Vedant Poly Fabs IPO open and close?
The Vedant Poly Fabs IPO opens on 2 Nov 2026 and closes on 4 Nov 2026.
2.What is the price band of the Vedant Poly Fabs IPO?
The price band is ₹88 – ₹94 per share, with a lot size of 1,200 shares and a minimum investment of ₹1,12,800.
3.What is the size of the Vedant Poly Fabs IPO?
The issue size is ₹56.68 Cr (Fresh capital cum OFS).
4.What is the GMP of the Vedant Poly Fabs IPO?
The last reported grey market premium is ₹0 per share as of 30 Oct 2026, 01:48 PM IST. GMP is unofficial and changes frequently.
5.When is the Vedant Poly Fabs IPO allotment?
The basis of allotment is expected on 5 Nov 2026. Allotment status can be checked with the registrar, Cameo Corporate Services Limited.
6.When will the Vedant Poly Fabs IPO list?
The shares are expected to list on 9 Nov 2026 on NSE SME.
7.Who is the lead manager of the Vedant Poly Fabs IPO?
The book running lead manager is Affinity Global Capital Market Private Limited, and the registrar is Cameo Corporate Services Limited.
8.What will the money raised in the Vedant Poly Fabs IPO be used for?
As stated in the offer document, the proceeds are for: Funding incremental working capital requirements of the Company; Prepayment or Repayment of all or a portion of certain secured or/and unsecured outstanding borrowings availed by the company; Funding Capital Expenditure for purchase and installation of Plant and Machinery at its existing manufacturing facility; General Corporate Purposes; To meet the offer related expenses.
9.How can my company launch an IPO like Vedant Poly Fabs?
Start with an IPO readiness assessment: eligibility for the NSE Emerge or BSE SME platform, audited financials, governance, conversion to a public limited company and an indicative valuation. Be IPO Ready advises promoters through each step, from readiness to listing day.
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