Vama Wovenfab IPO is a Book Built SME public issue by Vama Wovenfab Limited. The public issue consists entirely of a fresh issue of equity shares, with no Offer for Sale component. After completion of the IPO process, the company’s equity shares are proposed to be listed on the BSE SME platform.
The Vama Wovenfab IPO comprises 14,52,800 equity shares aggregating up to approximately ₹49.54 crore at the upper price band of ₹341 per share. The IPO price band has been fixed at ₹324 to ₹341 per equity share with a face value of ₹10 per share. The IPO is scheduled to open on 15 September 2026 and close on 17 September 2026.
Vama Wovenfab Limited is engaged in the manufacturing and sale of polypropylene (PP) and high-density polyethylene (HDPE) woven sack bags and fabric-based products. Its product portfolio includes woven sack bags, coloured woven fabric sheets, HDPE trampoline products, loop handle bags and customised woven packaging solutions.
The company caters to customers across several industries, including agriculture, food and beverages, cement, fertilizers, chemicals, sugar, construction, retail and bulk packaging and logistics. Its manufacturing unit is located in Daman, while its registered office is in Mumbai, Maharashtra.
The company has reported substantial growth in revenue and profitability over the last three financial years. Revenue increased from ₹27.87 crore in FY2024 to ₹214.62 crore in FY2026, while profit after tax increased from ₹2.63 crore to ₹11.55 crore during the same period.
Investors should carefully evaluate the company’s financial performance, valuation, customer concentration, working capital requirements, competitive environment and future expansion plans before making an investment decision.
Table of Contents
Vama Wovenfab IPO Details Information
| Particulars | Details |
|---|---|
| IPO Name | Vama Wovenfab IPO |
| Company Name | Vama Wovenfab Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹324 to ₹341 Per Share |
| Issue Size | ₹49.54 Crore |
| Fresh Issue | 14,52,800 Equity Shares |
| Offer for Sale | Nil |
| IPO Open Date | 15 September 2026 |
| IPO Close Date | 17 September 2026 |
| Anchor Investor Bidding | 14 September 2026 |
| Basis of Allotment | 18 September 2026 |
| Refund Initiation | 21 September 2026 |
| Shares Credited to Demat Account | 21 September 2026 |
| Listing Date | 22 September 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 400 Equity Shares |
| Registrar | Maashitla Securities Private Limited |
| Book Running Lead Manager | Gretex Corporate Services Limited |
The issue includes a market maker reservation of 72,800 equity shares, while the remaining shares form the public offer. The issue is entirely a fresh issue, meaning the proceeds from the offer will accrue to the company.
Vama Wovenfab IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 14 September 2026 |
| IPO Opening Date | 15 September 2026 |
| IPO Closing Date | 17 September 2026 |
| Basis of Allotment | 18 September 2026 |
| Refund Initiation | 21 September 2026 |
| Shares Credited to Demat Account | 21 September 2026 |
| Listing Date | 22 September 2026 |
After the allotment process is completed, successful applicants will receive the allotted shares in their demat accounts before the company’s shares begin trading on the BSE SME platform.
Vama Wovenfab IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category will depend on the number of valid applications received during the IPO subscription period. A separate portion is reserved for the market maker as prescribed for the SME issue.
Vama Wovenfab IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 800 Shares | ₹2,72,800 |
| Retail Maximum | 2 Lots | 800 Shares | ₹2,72,800 |
| S-HNI Minimum | 3 Lots | 1,200 Shares | ₹4,09,200 |
| S-HNI Maximum | 7 Lots | 2,800 Shares | ₹9,54,800 |
| B-HNI Minimum | 8 Lots | 3,200 Shares | ₹10,91,200 |
The application values shown above are calculated using the upper price band of ₹341 per equity share.
About Vama Wovenfab Limited
Vama Wovenfab Limited was initially incorporated on 16 March 2011 as Vama Wovenfab Private Limited. The company was subsequently converted from a private limited company into a public limited company in 2025 and renamed Vama Wovenfab Limited.
The company is primarily engaged in manufacturing and selling PP and HDPE woven sack bags and fabric-based products. Its products are manufactured in different weights, sizes and colours according to customer specifications and include HDPE trampoline products, coloured woven fabric sheets and loop handle bags.
Vama Wovenfab operates a manufacturing facility at Bhimpore, Nani Daman. The company follows a B2B-oriented business model and provides customised bulk packaging solutions to manufacturers and traders across multiple industries.
Business Operations
- PP and HDPE Woven Bags – The company manufactures polypropylene and high-density polyethylene woven bags used for industrial and commercial packaging.
- Woven Fabric Products – It manufactures woven fabric sheets in different specifications, colours and sizes according to customer requirements.
- Customised Packaging Solutions – The company provides customised bulk packaging products for customers across multiple industries.
- HDPE Trampoline Products – Its product portfolio includes HDPE trampoline-related woven products for specialised applications.
- Loop Handle Bags – The company manufactures loop handle bags designed for specific packaging and handling requirements.
- Plastic Granule Trading – Along with manufacturing activities, the company also trades in plastic granules used as raw materials in the plastic products industry.
- Multi-Industry Customer Base – Its products are supplied to industries including agriculture, food and beverages, cement, fertilizers, chemicals, sugar, construction and logistics.
Industry Overview
India’s flexible packaging and woven plastic products industry is supported by demand from agriculture, food processing, fertilizers, chemicals, cement, construction, retail and logistics. PP and HDPE woven products provide durable, lightweight and cost-effective packaging solutions for bulk materials and industrial goods.
The growth of organised manufacturing, infrastructure development, agricultural activity and logistics is expected to support demand for woven packaging products. Increasing requirements for customised packaging can also create opportunities for manufacturers capable of supplying products according to customer specifications.
However, the industry remains exposed to fluctuations in polymer prices, competition among manufacturers, customer concentration and changes in environmental and plastic-related regulations.
Business Strategy
Vama Wovenfab Limited focuses on providing customised woven packaging solutions while improving manufacturing efficiency and product quality. The company aims to strengthen its production capabilities and serve customers across a diversified range of industries.
The IPO proceeds are proposed to be used for construction of a shed, purchase of machinery, meeting working capital requirements and general corporate purposes. The planned capital expenditure is intended to increase manufacturing capabilities and support the company’s future operations.
The company also emphasises continuous product and process improvement, customer understanding and the development of long-term customer relationships. These initiatives are intended to support customer retention and strengthen the company’s position in the woven packaging segment.
Vama Wovenfab IPO Financial Information
A company’s financial performance provides valuable insights into revenue growth, profitability, operational efficiency and financial stability. Reviewing the company’s financial results over multiple years helps investors understand the growth of the business and its ability to generate earnings.
Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹27.87 Crore | ₹77.76 Crore | ₹214.62 Crore |
| EBITDA | ₹5.10 Crore | ₹10.37 Crore | ₹17.86 Crore |
| Profit After Tax (PAT) | ₹2.63 Crore | ₹6.84 Crore | ₹11.55 Crore |
| Net Worth | ₹9.05 Crore | ₹17.15 Crore | ₹28.69 Crore |
| Total Assets | ₹37.14 Crore | ₹67.47 Crore | ₹74.18 Crore |
| Reserves & Surplus | ₹5.44 Crore | ₹13.41 Crore | ₹24.96 Crore |
| Total Borrowings | ₹11.17 Crore | ₹16.94 Crore | ₹25.44 Crore |
The company has reported strong growth across revenue, EBITDA and PAT. Revenue increased more than seven times between FY2024 and FY2026, while PAT increased from ₹2.63 crore to ₹11.55 crore. Net worth also strengthened from ₹9.05 crore to ₹28.69 crore during the period.
Vama Wovenfab IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess the company’s profitability, operational efficiency, financial strength and capital utilisation. These financial ratios provide additional insights into the company’s overall business performance.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 50.37% |
| Return on Capital Employed (ROCE) | 31.94% |
| Return on Net Worth (RONW) | 50.37% |
| EBITDA Margin | 8.32% |
| PAT Margin | 5.38% |
| Debt-to-Equity Ratio | 0.89 |
| Earnings Per Share (EPS) | ₹30.90 |
| Net Asset Value (NAV) Per Share | ₹76.80 |
| Price to Earnings (P/E) | 11.04x |
The company’s FY2026 financial ratios indicate strong return metrics, with ROE and RONW of 50.37% and ROCE of 31.94%. The debt-to-equity ratio of 0.89 indicates a moderate level of leverage compared with the company’s net worth.
Objects of the Vama Wovenfab IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Capital Expenditure towards Construction of Shed – Funding construction of a shed to support the company’s manufacturing and operational requirements.
- Capital Expenditure towards Purchase of Machinery – Purchasing machinery to strengthen production capabilities and support business expansion.
- Working Capital Requirements – Meeting the company’s additional working capital requirements to support growing operations.
- General Corporate Purposes – Funding general corporate requirements and other permitted business purposes.
The identified expenditure includes approximately ₹1.36 crore for construction of the shed, ₹7.25 crore for machinery and ₹26.50 crore for working capital requirements.
Vama Wovenfab IPO Listing Performance
The listing performance reflects how the company’s shares perform after the IPO. Since Vama Wovenfab shares are scheduled to list on 22 September 2026, the actual listing price and listing gain are not available yet.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 22 September 2026 |
| Issue Price | ₹341 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The listing performance will be available after the company’s shares commence trading on the BSE SME platform. Investors should evaluate the company’s long-term financial performance and business prospects rather than relying only on expected listing gains.
Vama Wovenfab IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. Since the IPO is scheduled to open on 15 September 2026, final category-wise subscription figures are not available yet.
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Employee Category | To be updated |
| Total Subscription | To be updated |
The final subscription figures will be available after the IPO closes. They will provide an indication of investor participation across different investor categories.
Vama Wovenfab IPO Review
Vama Wovenfab Limited operates in the woven packaging and plastic products segment, with PP and HDPE woven bags and fabric-based products forming the core of its business. The company supplies products to a broad range of industries and also provides customised packaging solutions according to customer specifications.
The company has reported strong financial growth over the last three years. Revenue increased from ₹27.87 crore in FY2024 to ₹214.62 crore in FY2026, while PAT increased from ₹2.63 crore to ₹11.55 crore. EBITDA also improved from ₹5.10 crore to ₹17.86 crore during the same period.
The company’s return ratios are another positive factor. FY2026 ROE and RONW stood at 50.37%, while ROCE was 31.94%. The debt-to-equity ratio of 0.89 indicates that borrowings have increased along with business expansion but remain below the company’s net worth.
The IPO proceeds will primarily support capital expenditure and working capital requirements. Investment in a new shed and machinery could improve production capacity and operational capabilities, while additional working capital can support the company’s growing scale.
However, investors should carefully consider customer concentration and dependence on a relatively concentrated customer base. The company also operates in an industry where polymer prices, competition and demand from end-use sectors can influence profitability.
The current grey market premium is reported at ₹0. GMP is an unofficial market indicator and can change before listing. It should not be treated as a guarantee of the actual listing price or future returns.
Overall, Vama Wovenfab has demonstrated strong revenue and profit growth, high reported return ratios and a diversified industrial customer base. Investors should nevertheless assess the IPO valuation, working capital requirements, customer concentration, raw material exposure and SME-market risks before making an investment decision.
IPO Strengths
- Strong Revenue Growth – Revenue has increased substantially from ₹27.87 crore in FY2024 to ₹214.62 crore in FY2026.
- Strong Profitability Growth – PAT increased from ₹2.63 crore to ₹11.55 crore during the last three financial years.
- Diversified Product Portfolio – The company manufactures woven bags, fabric sheets, loop handle bags and other customised packaging products.
- Multiple End-Use Industries – Products are supplied to agriculture, food, cement, fertilizers, chemicals, construction, retail and logistics industries.
- Strong Return Ratios – FY2026 ROE and RONW stood at 50.37%, while ROCE was 31.94%.
- Manufacturing Expansion – IPO proceeds are intended to support shed construction, machinery purchase and working capital requirements.
IPO Risk Factors
- Customer Concentration – A significant portion of revenue may depend on a limited number of customers, which could affect performance if major relationships are lost.
- Raw Material Price Volatility – Changes in polymer and plastic granule prices may affect production costs and profit margins.
- Working Capital Requirements – The company requires substantial working capital to support its rapidly expanding operations.
- Competitive Industry – The woven packaging and plastic products industry has several competing manufacturers.
- Plastic Regulation Risk – Changes in environmental rules and regulations concerning plastic products may affect the company’s operations.
- SME Listing Risk – Shares listed on the SME platform may experience lower liquidity and higher price volatility compared with larger listed companies.
Vama Wovenfab IPO Promoters
Vama Wovenfab Limited is promoted by Suresh Mohanlal Gupta, Vaibhav Suresh Gupta, Saurabh Suresh Gupta and Nisha Vaibhav Gupta. The promoters have experience in the plastic products industry and are involved in guiding the company’s business and strategic direction.
IPO Promoters Details
| Promoter | Designation |
|---|---|
| Suresh Mohanlal Gupta | Chairman and Executive Director |
| Vaibhav Suresh Gupta | Promoter |
| Saurabh Suresh Gupta | Managing Director |
| Nisha Vaibhav Gupta | Non-Executive Director |
Vama Wovenfab IPO Management Team
The company is managed by a team with experience in manufacturing, business operations, strategic management and corporate administration. The board includes executive, non-executive and independent directors, supported by the company secretary and compliance function.
| Name | Designation |
|---|---|
| Saurabh Suresh Gupta | Managing Director |
| Suresh Mohanlal Gupta | Chairman and Executive Director |
| Nisha Vaibhav Gupta | Non-Executive Director |
| Sushil Kumar Tibrewal | Independent Director |
| Ganesh Prasad R Nayak | Independent Director |
| Sakshi Mishra | Company Secretary |
Vama Wovenfab IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | Maashitla Securities Private Limited |
| Website | https://maashitla.com |
| IPO Allotment Status | https://maashitla.com/allotment-status/public-issues |
| Email ID | [email protected] |
| Contact Number | +91-11-47581432 |
Maashitla Securities Private Limited is the registrar to the Vama Wovenfab IPO. Its IPO-related contact details are provided in the company’s offer-document disclosures.
Vama Wovenfab IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory requirements and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Manager | Gretex Corporate Services Limited |
Gretex Corporate Services Limited is the Book Running Lead Manager for the Vama Wovenfab IPO.
Vama Wovenfab Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Vama Wovenfab Limited |
| Registered Office | 1104, W 92, L T Road, Borivali (West), Vazira Naka, Mumbai, Maharashtra – 400092 |
| Manufacturing Unit | Sr. No. 162/4,6,7,9, Coastal Highway, Bhimpore, Nani Daman, Daman – 396210 |
| Website | https://www.vamawoven.com |
| Email ID | [email protected] |
| Contact Number | +91 89768 50365 |
The company’s official information lists its registered office in Borivali, Mumbai and manufacturing facility in Bhimpore, Nani Daman.
How to Check Vama Wovenfab IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the BSE IPO portal.
Through Maashitla Securities Private Limited
- Visit the official Maashitla IPO allotment portal.
- Select Vama Wovenfab IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Vama Wovenfab IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
IPO Conclusion
Vama Wovenfab IPO provides investors with an opportunity to participate in an SME company operating in the PP and HDPE woven packaging and fabric products segment. The company has demonstrated strong growth in revenue, EBITDA and profit over the last three financial years.
Its diversified product portfolio, customised packaging capabilities, multi-industry customer base and manufacturing expansion plans provide positive factors for future growth. The company’s reported return ratios also indicate strong profitability relative to its capital base.
However, investors should also consider customer concentration, raw material price volatility, working capital requirements, competition, plastic-related regulatory risks and the additional liquidity risks associated with SME-listed companies.
A detailed assessment of the company’s financial performance, valuation, business strategy, industry outlook and IPO objectives can help investors determine whether the Vama Wovenfab IPO is suitable for their investment objectives.
Vama Wovenfab IPO FAQs
What is Vama Wovenfab IPO?
Vama Wovenfab IPO is an upcoming SME public issue of Vama Wovenfab Limited. The issue comprises a fresh issue of equity shares and is proposed to be listed on the BSE SME platform.
What is the price band of Vama Wovenfab IPO?
The price band is ₹324 to ₹341 per equity share.
What is the issue size of Vama Wovenfab IPO?
The total issue size is approximately ₹49.54 crore, comprising 14,52,800 equity shares.
When will the Vama Wovenfab IPO open?
The IPO will open for subscription on 15 September 2026.
When will the Vama Wovenfab IPO close?
The IPO will close for subscription on 17 September 2026.
What is the Vama Wovenfab IPO lot size?
The lot size is 400 equity shares. Under the current SME application structure, the minimum retail application is 2 lots, or 800 shares.
What is the minimum investment required for Vama Wovenfab IPO?
At the upper price band of ₹341, the minimum retail application of 800 shares requires ₹2,72,800.
On which stock exchange will Vama Wovenfab shares be listed?
Vama Wovenfab shares are proposed to be listed on the BSE SME platform.
Who is the registrar for the Vama Wovenfab IPO?
Maashitla Securities Private Limited is the registrar to the Vama Wovenfab IPO.
What is the GMP of Vama Wovenfab IPO?
The current reported GMP is ₹0. GMP is an unofficial grey-market indicator and may change before listing. It should not be considered a guaranteed listing price or return.
