Vedant Poly Fabs IPO is an NSE SME book-built issue by Vedant Poly Fabs Limited. The public issue comprises a fresh issue of 54,26,400 equity shares and an Offer for Sale of 6,03,600 equity shares. The price band is ₹88 to ₹94 per share, and the lot size is 1,200 shares.
The IPO is scheduled to open on 2 November 2026 and close on 4 November 2026. The basis of allotment is expected on 5 November 2026, followed by refunds and credit of shares to demat accounts on 6 November 2026. The shares are scheduled to list on NSE SME on 9 November 2026.
Vedant Poly Fabs Limited operates in the flexible packaging industry and manufactures packaging films, laminates and pouches for business customers. Its integrated production process covers film extrusion, printing, lamination, slitting, quality control and dispatch. The company’s financial performance improved in FY2026, with higher income and profitability compared with the previous financial year.
Investors should assess the company’s financial performance, borrowings, issue valuation, competitive position and proposed utilisation of IPO proceeds before making an investment decision.
Table of Contents
Vedant Poly Fabs IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Vedant Poly Fabs IPO |
| Company Name | Vedant Poly Fabs Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 per Equity Share |
| Price Band | ₹88 to ₹94 Per Share |
| Issue Size | Approximately ₹56.68 Crore |
| Fresh Issue | 54,26,400 Shares, approximately ₹51.01 Crore |
| Offer for Sale | 6,03,600 Shares, approximately ₹5.67 Crore |
| IPO Open Date | 2 November 2026 |
| IPO Close Date | 4 November 2026 |
| Basis of Allotment | 5 November 2026 |
| Refund Initiation | 6 November 2026 |
| Shares Credited to Demat Account | 6 November 2026 |
| Listing Date | 9 November 2026 |
| Listing Exchange | NSE SME |
| Lot Size | 1,200 Shares |
| Registrar | Cameo Corporate Services Ltd. |
| Book Running Lead Manager | Affinity Global Capital Market Pvt. Ltd. |
The total issue value of approximately ₹56.68 crore is calculated using 60,30,000 shares at the upper price band of ₹94 per share.
Vedant Poly Fabs IPO Dates
Vedant Poly Fabs IPO is scheduled to remain open for subscription from 2 November 2026 to 4 November 2026. Investors should check the final issue schedule and their application status during the IPO process.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 2 November 2026 |
| IPO Closing Date | 4 November 2026 |
| Basis of Allotment | 5 November 2026 |
| Refund Initiation | 6 November 2026 |
| Shares Credited to Demat Account | 6 November 2026 |
| Listing Date | 9 November 2026 |
After allotment is finalised, successful applicants are expected to receive shares in their demat accounts before trading begins on the exchange.
Vedant Poly Fabs IPO Reservation
The IPO reservation specifies the portions available for different investor categories. The allocation is subject to the final offer terms and applicable regulations.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% of net offer |
| Non-Institutional Investors (NII) | Not less than 15% of net offer |
| Retail Individual Investors (RII) | Not less than 35% of offer |
The final allocation will depend on the issue structure and applicable allocation rules.
Vedant Poly Fabs IPO Lot Size
Vedant Poly Fabs IPO has a lot size of 1,200 equity shares. At the upper price band of ₹94 per share, one lot represents an application value of ₹1,12,800. The minimum retail application is two lots, or 2,400 shares.
| Application | Shares | Amount |
|---|---|---|
| Retail (Min) | 2,400 | ₹2,25,600 |
| Retail (Max) | 2,400 | ₹2,25,600 |
| S-HNI (Min) | 3,600 | ₹3,38,400 |
| S-HNI (Max) | 9,600 | ₹9,02,400 |
| B-HNI (Min) | 10,800 | ₹10,15,200 |
The application values are calculated using the upper price band of ₹94 per equity share.
Vedant Poly Fabs IPO GMP History
The Vedant Poly Fabs IPO GMP is ₹15 as of 2 November 2026. At the upper issue price of ₹94 per share, the estimated listing price is ₹109, indicating an estimated gain of 15.96%.
Vedant Poly Fabs IPO GMP History (Day-Wise)
| Date | GMP (₹) | Estimated Listing Price (₹) | Estimated Gain (%) |
|---|---|---|---|
| 9 November 2026 | |||
| 8 November 2026 | |||
| 7 November 2026 | |||
| 6 November 2026 | 1 | 95 | 1.06% |
| 5 November 2026 | 1 | 95 | 1.06% |
| 4 November 2026 | 1 | 95 | 1.06% |
| 3 November 2026 | 11 | 105 | 11.70% |
| 2 November 2026 | 15 | 109 | 15.96% |
| 1 November 2026 | 15 | 109 | 15.96% |
| 31 October 2026 | 5 | 99 | 5.32% |
| 30 October 2026 | 0 | 94 | 0.00% |
| 29 October 2026 | 0 | 94 | 0.00% |
| 28 October 2026 | 0 | 94 | 0.00% |
The Vedant Poly Fabs IPO GMP increased from ₹0 on 29 October to ₹15 on 1 November 2026. It remained at ₹15 on 2 November, indicating an increase in grey market interest ahead of the IPO listing. Based on the latest GMP, the estimated listing price is ₹109 per share.
About Vedant Poly Fabs Limited
Vedant Poly Fabs Limited was incorporated in December 2018 and operates as a manufacturer of flexible packaging products. The company follows a business-to-business model, supplying packaging materials to customers across India. Its products cater to packaging requirements in the food, beverage and other consumer goods industries.
The company manufactures a range of flexible packaging materials, including three-layer and five-layer LD films, shrink films, barrier films, printed laminates, milk pouches and oil pouches. These products are used in packaging applications that require appropriate protection, durability and customised specifications.
Vedant Poly Fabs has an integrated manufacturing process covering raw material procurement, film extrusion, printing, lamination, slitting, quality control, packing and dispatch. The integration of these activities allows the company to manage multiple production stages within its manufacturing operations.
In March 2026, the company added lamination, slitting and pouching machinery and installed a reprocessing unit to expand its manufacturing capabilities. The company also maintains in-house transportation and logistics capabilities to support the delivery of products to its customers.
As of 31 March 2026, the company had 72 employees, comprising 41 permanent employees and 31 contractual employees. Its manufacturing setup, product portfolio and customer-focused production model form the basis of its operations in the flexible packaging segment.
Business Operations
Vedant Poly Fabs Limited operates through several connected stages of flexible packaging production.
- Film Extrusion: The company manufactures packaging films, including three-layer and five-layer LD films, for different packaging requirements.
- Printing: Printing capabilities support the production of packaging materials that require customised designs and product information.
- Lamination: Lamination helps combine packaging layers to meet specific product protection and packaging requirements.
- Slitting: Slitting operations convert larger film rolls into required widths and formats for further processing or customer use.
- Pouch Manufacturing: The company produces packaging products such as milk pouches and oil pouches.
- Quality Control: Quality checks are conducted to support consistency and adherence to product specifications.
- Reprocessing: The reprocessing unit supports the company’s manufacturing operations and material handling requirements.
- Packing and Dispatch: Finished products are packed and dispatched to customers, supported by the company’s logistics capabilities.
Industry Overview
The flexible packaging industry serves a wide range of sectors, including food, beverages, personal care and other consumer goods. Flexible packaging products are used because they can be manufactured in different formats and customised according to product, storage and transportation requirements.
Demand for flexible packaging is influenced by consumer goods production, packaged food consumption, product branding, distribution networks and the need for suitable packaging materials. Manufacturers also need to manage raw material costs, product quality, customer specifications and production efficiency.
Companies operating in this sector face competition from established packaging manufacturers and other suppliers. Changes in polymer prices, customer demand, environmental requirements and packaging technologies can influence operating performance. For Vedant Poly Fabs, sustained growth will depend on its ability to maintain product quality, manage costs, utilise manufacturing capacity and retain customer relationships.
Business Strategy
Vedant Poly Fabs Limited’s operating approach centres on integrated manufacturing, a diversified product range and customer-specific packaging solutions.
The company has expanded its production capabilities through additional machinery and a reprocessing unit. These investments may support a wider range of manufacturing activities and improve the company’s ability to address different packaging requirements.
Its direct sales model and in-house transportation capabilities are intended to support customer service and product delivery. The company’s future performance will depend on how effectively it uses its manufacturing infrastructure, manages working capital, controls operating costs and responds to changing customer requirements.
Vedant Poly Fabs IPO Financial Information
A company’s financial performance helps investors assess its revenue growth, profitability, asset base and borrowing levels. Vedant Poly Fabs reported increases in total income, EBITDA and profit after tax in FY2026 compared with FY2025.
Vedant Poly Fabs Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Assets | ₹18.88 Crore | ₹55.40 Crore | ₹97.80 Crore |
| Total Income | ₹49.73 Crore | ₹81.58 Crore | ₹115.31 Crore |
| EBITDA | ₹1.48 Crore | ₹8.30 Crore | ₹19.18 Crore |
| Profit After Tax (PAT) | ₹0.64 Crore | ₹4.56 Crore | ₹10.97 Crore |
| Net Worth | ₹3.86 Crore | ₹15.42 Crore | ₹42.26 Crore |
| Reserves and Surplus | ₹3.75 Crore | ₹4.57 Crore | ₹27.53 Crore |
| Total Borrowings | ₹6.35 Crore | ₹13.32 Crore | ₹46.82 Crore |
The figures show growth in income and profitability across the reported periods. Total income increased from ₹81.58 crore in FY2025 to ₹115.31 crore in FY2026, while PAT increased from ₹4.56 crore to ₹10.97 crore.
The company’s asset base and net worth also expanded. However, total borrowings increased to ₹46.82 crore in FY2026. Investors should assess the relationship between debt, working capital needs, operating cash flows and future investment requirements when evaluating the company’s financial position.
Vedant Poly Fabs IPO Key Performance Indicators (KPIs)
Key Performance Indicators provide information about profitability, capital efficiency, leverage and valuation. The following figures are based on the supplied financial and IPO information.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 38.03% |
| Return on Capital Employed (ROCE) | 46.34% |
| Return on Net Worth (RoNW) | 25.95% |
| EBITDA Margin | 16.50% |
| PAT Margin | 9.52% |
| Debt-to-Equity Ratio | 1.11 |
| Earnings Per Share (Pre-IPO) | ₹7.45 |
| Earnings Per Share (Post-IPO) | ₹5.44 |
| Net Asset Value (NAV) Per Share | ₹28.70 |
| Price-to-Book Value | 3.28x |
Vedant Poly Fabs IPO Valuation
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | ₹7.45 | ₹5.44 |
| P/E | 12.62x | 17.28x |
| Market Capitalisation at Offer Price | ₹138.42 Crore | ₹189.43 Crore |
Investors should consider these metrics alongside the company’s business model, borrowing levels, industry conditions and ability to sustain earnings growth. Valuation ratios alone do not establish whether an IPO is suitable for a particular investor.
Objects of the Vedant Poly Fabs IPO
The company proposes to utilise the net proceeds from the fresh issue for the following purposes:
| No. | Issue Objects | Amount |
|---|---|---|
| 1 | Funding incremental working capital requirements of the company | ₹17.59 Crore |
| 2 | Prepayment or repayment of certain secured or unsecured outstanding borrowings | ₹8.00 Crore |
| 3 | Capital expenditure for the purchase and installation of plant and machinery at the existing manufacturing facility | ₹6.51 Crore |
| 4 | General corporate purposes | To be finalised |
| 5 | Offer-related expenses | To be finalised |
The disclosed amounts for working capital, repayment of borrowings, and capital expenditure total ₹32.10 crore. The final issue size by value and the amounts allocated to general corporate purposes and offer-related expenses will depend on the final offer documents.
The proposed use of proceeds reflects the company’s need to finance day-to-day operations, manage outstanding debt, and invest in manufacturing infrastructure. Investors should consider whether the planned expenditure is likely to improve operating efficiency and support sustainable growth.
Vedant Poly Fabs IPO Listing Performance
The listing performance section will reflect the market price of Vedant Poly Fabs shares after listing. As the listing is scheduled for 9 November 2026, the actual listing price and listing gain are not yet available.
| Particular | Value |
|---|---|
| Listing Exchange | NSE SME |
| Listing Date | 9 November 2026 |
| Issue Price | ₹94 per share |
| Listing Price | |
| Listing Gain | |
| Listing Gain (%) |
The actual listing price may differ from the issue price. Grey-market premiums and other unofficial indicators do not guarantee listing gains or future market performance.
Vedant Poly Fabs IPO Subscription Status
The Vedant Poly Fabs IPO was subscribed 1.95 times overall during its bidding period from 2 November to 4 November 2026. The category-wise final subscription details are given below.
Vedant Poly Fabs IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 1.00x |
| Non-Institutional Investors (NII) | 1.52x |
| Retail Individual Investors (RII) | 2.26x |
| Total Subscription | 1.95x |
The retail category recorded the highest subscription at 2.26 times, followed by NII at 1.52 times and QIB at 1.00 times. Overall, the IPO received bids for approximately 1.95 times the shares offered.
Vedant Poly Fabs IPO Review
Vedant Poly Fabs Limited operates in the flexible packaging industry and offers a variety of films, laminates and pouches for different customer requirements. Its integrated manufacturing process and product range provide operational flexibility, while recent machinery additions may help expand its production capabilities.
The company’s reported financial performance improved in FY2026. Total income rose to ₹115.31 crore, EBITDA reached ₹19.18 crore and PAT increased to ₹10.97 crore. These figures indicate improved profitability compared with FY2025. At the same time, borrowings increased to ₹46.82 crore, making the company’s debt position and working capital management important considerations for investors.
The IPO proceeds are intended to fund working capital, repay or prepay certain borrowings and finance plant and machinery. These uses may support the company’s operating requirements and manufacturing infrastructure. However, investors should also consider raw material price volatility, competition, customer demand, debt levels and the company’s ability to sustain its recent growth before deciding whether to apply.
Vedant Poly Fabs IPO Strengths
- Integrated manufacturing process covering multiple stages of flexible packaging production.
- Diversified product portfolio, including films, laminates and pouches.
- Manufacturing capabilities expanded through additional machinery and a reprocessing unit.
- In-house transportation and logistics capabilities.
- Direct sales model serving business customers.
- Reported improvement in income, EBITDA and PAT in FY2026.
- Product customisation capabilities to address varying packaging requirements.
Vedant Poly Fabs IPO Risk Factors
- The company operates in a competitive flexible packaging market.
- Fluctuations in raw material prices may affect margins.
- Total borrowings increased to ₹46.82 crore in FY2026.
- Working capital requirements may place pressure on operating cash flows.
- Manufacturing expansion requires efficient utilisation of machinery and production capacity.
- Changes in customer demand or packaging specifications may affect sales.
- Quality, delivery and cost control are important to retaining customers and maintaining competitiveness.
Vedant Poly Fabs IPO Promoters
Vedant Poly Fabs Limited is promoted by Pankaj Kumar Maheshwari, Sujata Maheshwari and Sethsawaria Poly Fab LLP. Investors may review the final offer documents for details of the promoters’ shareholding, related-party transactions and other relevant disclosures.
Vedant Poly Fabs IPO Promoters Details
| Promoter | Designation |
|---|---|
| Pankaj Kumar Maheshwari | Promoter |
| Sujata Maheshwari | Promoter |
| Sethsawaria Poly Fab LLP | Promoter |
Vedant Poly Fabs IPO Registrar Details
The registrar is responsible for processing applications, finalising allotment, facilitating refunds and supporting the credit of shares to successful applicants.
| Particular | Details |
|---|---|
| Registrar Name | Cameo Corporate Services Ltd. |
| Website | https://www.cameoindia.com |
| IPO Allotment Status | https://ipo.cameoindia.com/ |
| Email ID | [email protected] |
| Contact Number | 044-28460390 / 28460391 / 28460392 |
Vedant Poly Fabs IPO Lead Manager Details
The lead manager assists with issue management, regulatory coordination and the public issue process.
| Particular | Details |
|---|---|
| Lead Manager | Affinity Global Capital Market Pvt. Ltd. |
Vedant Poly Fabs Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Vedant Poly Fabs Limited |
| Registered Office | 6/1/Q Digberia Road, Barasat, P.O. Badu, PS Barasat North 24 Parganas, Badu, Barasat, West Bengal 700128 |
| Website | https://vedantpolyfabs.com |
| Email ID | [email protected] |
| Contact Number | +91 8240877760 |
How to Check Vedant Poly Fabs IPO Allotment Status
Investors can check the allotment status after the basis of allotment has been finalised. The allotment process is scheduled for 5 November 2026.
Through Cameo Corporate Services Ltd.
- Visit the registrar’s official website.
- Look for the IPO allotment status section.
- Select Vedant Poly Fabs IPO from the available issue list, once listed.
- Choose the identification method provided, such as PAN or application number.
- Enter the required details.
- Submit the information to view the allotment result.
Investors should use the official registrar or exchange allotment portal when the results are available.
Vedant Poly Fabs IPO Conclusion
Vedant Poly Fabs IPO provides an opportunity to invest in a company operating in India’s flexible packaging segment. The company has an integrated manufacturing process and a product portfolio that serves different packaging requirements. Its reported FY2026 results show growth in total income and profitability.
The proposed IPO proceeds are intended to support working capital, repayment or prepayment of borrowings, and capital expenditure. These objectives are relevant to the company’s operating and manufacturing requirements, although investors should also assess its increased borrowing levels, industry competition and exposure to raw material costs.
Before applying, investors should review the final offer documents, financial statements, issue valuation, risk factors and subscription details. The suitability of the IPO depends on an investor’s risk tolerance, investment horizon and assessment of the company’s future performance.
Vedant Poly Fabs IPO FAQs
What is Vedant Poly Fabs IPO?
Vedant Poly Fabs IPO is an NSE SME book-built public issue comprising a fresh issue of 54,26,400 equity shares and an Offer for Sale of 6,03,600 equity shares.
What is the price band of Vedant Poly Fabs IPO?
The price band is ₹88 to ₹94 per equity share.
What is the issue size of Vedant Poly Fabs IPO?
The issue comprises 60,30,000 equity shares, with a total value of approximately ₹56.68 crore at the upper price band of ₹94 per share.
When will Vedant Poly Fabs IPO open?
The IPO is scheduled to open on 2 November 2026.
When will Vedant Poly Fabs IPO close?
The IPO is scheduled to close on 4 November 2026.
What is the lot size of Vedant Poly Fabs IPO?
The lot size is 1,200 shares. The minimum retail application is 2,400 shares, requiring ₹2,25,600 at the upper price band.
When will Vedant Poly Fabs IPO allotment be finalised?
The basis of allotment is expected to be finalised on 5 November 2026.
When will Vedant Poly Fabs IPO list?
The shares are scheduled to list on NSE SME on 9 November 2026.
Who is the registrar of Vedant Poly Fabs IPO?
Cameo Corporate Services Ltd. is the registrar to the issue.
What are the objects of Vedant Poly Fabs IPO?
The company proposes to use the disclosed proceeds for working capital requirements, repayment or prepayment of certain borrowings, and capital expenditure on plant and machinery. General corporate purposes and offer-related expenses are to be finalised.
