Vedant Poly Fabs IPO Opens: SME Issue Details, Dates & Price (2026)
· 7 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
The Vedant Poly Fabs SME IPO is open for subscription between 02 Nov 2026 and 04 Nov 2026 at a price band of ₹88 to ₹94 per share. Here are the factual details from the RHP.
Direct answer: The Vedant Poly Fabs on BuyUnlistedShares SME IPO opened for subscription on 02 Nov 2026 and closes on 04 Nov 2026. The price band is ₹88 to ₹94 per share with a lot size of 1,200 shares. The issue totals ₹56.68 Cr, comprising a fresh issue of ₹48.14 Cr and an offer for sale of ₹5.67 Cr, listing on NSE SME.
Source: RHP filed with NSE.
As of 02 Nov 2026, the unofficial and indicative grey-market premium (GMP) for Vedant Poly Fabs is ₹15 per share (+15.96%), moving from ₹5 per share recorded on 01 Nov 2026.
Vedant Poly Fabs IPO Terms and Issue Details
The offer comprises 57,25,200 equity shares in total. The fresh issue component consists of 54,51,840 shares (₹48.14 Cr), while the selling shareholders are offering 6,05,760 shares (₹5.67 Cr) through the offer for sale (OFS). Retail investors can apply for a minimum of 1 lot (1,200 shares) amounting to ₹1,12,800 at the upper price band of ₹94 per share as of 02 Nov 2026.
| Item | Value | As of |
|---|---|---|
| Price band | ₹88 – ₹94 | 02 Nov 2026 |
| Lot size | 1200 shares | 02 Nov 2026 |
| Minimum application | ₹1,12,800 | 02 Nov 2026 |
| Issue size | ₹56.68 Cr | 02 Nov 2026 |
| Fresh issue | ₹48.1 Cr | 02 Nov 2026 |
| Offer for sale | ₹5.7 Cr | 02 Nov 2026 |
| Exchange | NSE SME | 02 Nov 2026 |
| Issue type | SME | 02 Nov 2026 |
| Face value | ₹10 | 02 Nov 2026 |
| Opens | 2 Nov 2026 | 02 Nov 2026 |
| Closes | 4 Nov 2026 | 02 Nov 2026 |
| Allotment | 5 Nov 2026 | 02 Nov 2026 |
| Listing | 9 Nov 2026 | 02 Nov 2026 |
| Registrar | Cameo Corporate Services Ltd. | 02 Nov 2026 |
| GMP | ₹15 (unofficial, indicative) | 2 Nov 2026 |
The share reservation structure across bidder categories per the RHP filed with NSE is as follows:
- Qualified Institutional Buyers (QIB): Not more than 50.00% of the Net Offer.
- Non-Institutional Investors (NII/HNI): Not less than 15.00% of the Net Offer (22,60,800 shares). sNII receives 7,53,600 shares and bNII receives 15,07,200 shares.
- Retail Individual Investors: Not less than 35.00% of the Net Offer (33,96,000 shares).
- Market Maker Portion: 3,04,800 shares.
The RHP states that key valuation metrics at the upper price band of ₹94 per share as of 31 Mar 2026 include:
- Pre-issue P/E ratio: 12.6x, using pre-issue EPS of ₹7.45 per share.
- Post-issue P/E ratio: 13.6x, using post-issue EPS of ₹6.9 per share.
- Price-to-book value (P/B) ratio: 3.28x, based on net asset value (NAV) per share of ₹28.7.
Live Subscription Status
As of 02 Nov 2026 (07:21 IST), overall subscription stands at 0.31x. The retail category has received 0.04x subscription, while the non-institutional category (NII) stands at 0.71x (sNII at 0.45x and bNII at 0.83x). You can monitor overall SME trend lines on the IPO calendar.
Company Operations and Objects of the Offer
Incorporated in December 2018, Vedant Poly Fabs Limited manufactures flexible packaging products for business-to-business (B2B) clients across India. Its product line features 3-layer and 5-layer LD films, shrink films, barrier films, printed laminates, and packaging pouches for milk and oil products, serving the food, beverage, and fast-moving consumer goods sectors.
The company operates an integrated plant in Barasat, West Bengal, handling extrusion, printing, lamination, slitting, and pouching. In March 2026, it expanded facility capabilities by installing additional lamination and pouching equipment alongside a reprocessing unit for material recycling. As of 31 Mar 2026, the firm employed 72 personnel (41 permanent and 31 contractual). It also engages in bill-to-ship trading of billet strips.
The fresh issue proceeds of ₹39.12 Cr specified under objects will be deployed as follows:
- ₹24.61 Cr for incremental working capital requirements.
- ₹8 Cr for repayment or prepayment of outstanding borrowings.
- ₹6.51 Cr for capital expenditure to purchase plant and machinery.
- The remaining amount for general corporate purposes and issue expenses.
Financial Trend of Vedant Poly Fabs
Per the RHP filed with NSE, financial performance across recent periods reflects the following figures (values in ₹ Cr):
- Q1 FY27 (3 months to 30 Jun 2026): Total Income of ₹30.49 Cr, EBITDA of ₹6.59 Cr, Profit After Tax (PAT) of ₹3.48 Cr, Net Worth of ₹45.60 Cr, and Total Borrowings of ₹44.81 Cr.
- FY26 (year ended 31 Mar 2026): Total Income of ₹115.31 Cr, EBITDA of ₹19 Cr, PAT of ₹10.97 Cr, Net Worth of ₹42.26 Cr, and Total Borrowings of ₹46.82 Cr.
- FY25 (year ended 31 Mar 2025): Total Income of ₹81.58 Cr, EBITDA of ₹7.74 Cr, PAT of ₹4.56 Cr, Net Worth of ₹15.42 Cr, and Total Borrowings of ₹13.32 Cr.
- FY24 (year ended 31 Mar 2024): Total Income of ₹49.73 Cr, EBITDA of ₹1.29 Cr, PAT of ₹0.64 Cr, Net Worth of ₹3.86 Cr, and Total Borrowings of ₹6.35 Cr.
The company reported Return on Equity (ROE) of 38.03%, Return on Capital Employed (ROCE) of 46.34%, EBITDA margin of 16.50%, and Debt-to-Equity ratio of 1.11 as of 31 Mar 2026. Readers comparing active SME listings can check the HGS (India) IPO Opens: SME Dates, Price Band & Details (2026) post or use the Unlisted shares screener.
Peer Comparison and Key Risk Factors
The RHP provides the following peer metrics as of 30 Mar 2026:
| Company Name | Basic EPS (₹) | NAV (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Vedant Poly Fabs Limited | 2.36 | 30.97 | — | 30.52 |
| B&A Packaging India Limited | 14.24 | 180.16 | 14.11 | 7.90 |
| Barflex Polyfilms Limited | 1.93 | 38.82 | 26.43 | 7.34 |
| RFBL Flexi Pack Limited | 5.08 | 16.32 | 17.79 | 31.11 |
Key risk factors quoted from the issuer's RHP include:
- Geographic Concentration: A significant portion of revenue is concentrated in West Bengal and the Eastern region of India.
- Raw Material Price Risk: Cost of production depends heavily on plastic granules (LDPE, Metallocene) and polyester films. Price volatility in raw materials directly impacts operating margins.
- Receivables & Working Capital: Trade receivables and inventory form a substantial portion of current assets; delays in collection may impact liquidity.
- Management Listing Experience: Promoters and directors have limited prior experience managing listed entities under SEBI compliance frameworks.
- Historical Operating Cash Flows: The company experienced negative cash flows from operating and investing activities in prior restated periods.
For comparative issue details in the SME space, refer to the Vectras Enprocon IPO Details, Dates, Price Band and Lot Size (2026) review.
IPO Schedule and Next Steps
The key timeline events for the Vedant Poly Fabs IPO are as follows:
- IPO Open Date: 02 Nov 2026
- IPO Close Date: 04 Nov 2026
- Allotment Date: 05 Nov 2026
- Initiation of Refunds / Credit of Shares: 06 Nov 2026
- Listing Date: 09 Nov 2026 on NSE SME
Promoter shareholding pre-issue is 100%, held by Pankaj Kumar Maheshwari, Sujata Maheshwari, and Sethsawaria Poly Fab LLP, which will adjust to 70.08% post-issue.
Frequently Asked Questions
When does the Vedant Poly Fabs IPO open and close?
The IPO opened for bidding on 02 Nov 2026 and closes on 04 Nov 2026.
What is the price band and lot size for the Vedant Poly Fabs IPO?
The price band is ₹88 to ₹94 per share. The minimum bid application is 1 lot containing 1,200 shares.
What is the minimum application amount for retail investors?
At the upper band of ₹94 per share, 1 lot of 1,200 shares requires a minimum application of ₹1,12,800.
Who is the registrar for the Vedant Poly Fabs IPO?
The registrar for the issue is Cameo Corporate Services Ltd.
On which exchange will the shares be listed?
The shares are scheduled to list on the NSE SME platform on 09 Nov 2026.
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Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
