Vedant Poly Fabs IPO: dates, price band, lot size and GMP
Vedant Poly Fabs IPO opens 2 – 4 Nov 2026 on the SME, price band ₹88 – ₹94, lot 1,200 shares, no GMP reported yet. Allotment 5 Nov, listing 9 Nov.
Listing date: Vedant Poly Fabs IPO is scheduled to list on 9 Nov on NSE SME.
Updated 28 Oct 2026, 20:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 222 IPOs on its calendar; the Vedant Poly Fabs IPO has a price band of ₹88 – ₹94, a lot of 1,200 shares and no grey-market premium reported yet as of 28 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 2 – 4 Nov 2026 |
| Price band | ₹88 – ₹94 |
| Lot size | 1,200 shares |
| Issue size | ₹56.68 Cr |
| Fresh issue | ₹51.01 Cr |
| Offer for sale | ₹5.67 Cr |
| Subscription | — |
| Registrar | Cameo Corporate Services Ltd. |
| Lead managers | Affinity Global Capital Market Pvt.Ltd. |
| Status | Upcoming |
Timeline
- Issue opens: 2 Nov
- Issue closes: 4 Nov
- Allotment: 5 Nov
- Refunds: 6 Nov
- Demat credit: 6 Nov
- Listing: 9 Nov
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE SME |
| Market cap at the upper band | ₹189.43 Cr |
| P/E (pre-issue) | 12.62x |
| P/E (post-issue) | 17.28x |
| Fresh issue (shares) | 54,26,400 |
| Offer for sale (shares) | 6,03,600 |
| Total shares offered | 60,30,000 |
| Promoter holding pre-issue | 100% |
| Promoter holding post-issue | 70.08% |
| Promoters | Pankaj Kumar Maheshwari, Sujata Maheshwari and Sethsawaria Poly Fab LLP |
| Lead managers | Affinity Global Capital Market Pvt.Ltd. |
| Registrar phone | 044-28460390/28460391/28460392 |
| Registrar email | investor@cameoindia.com |
| Company website | vedantpolyfabs.com |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 2,400 | ₹2,25,600 |
| Retail (maximum) | 2 | 2,400 | ₹2,25,600 |
| sNII (minimum) | 3 | 3,600 | ₹2,25,600 |
| bNII (minimum) | 3 | 3,600 | ₹10,15,200 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | — | — | Not more than 50.00% of the Net offer |
| NII (HNI) | — | — | Not less than 15.00% of the Net Offer |
| Retail | — | — | Not less than 35% of the Offer |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹7.45 |
|---|---|
| EPS (post-issue) | ₹5.44 |
| P/E (pre-issue) | 12.62x |
| P/E (post-issue) | 17.28x |
| RoNW | 25.95% |
| RoCE | 46.34% |
| RoE | 38.03% |
| PAT margin | 9.52% |
| EBITDA margin | 16.5% |
| Price / book | 3.28x |
| NAV per share | ₹28.7 |
| Debt / equity | 1.11 |
| Market cap (upper band) | ₹189.43 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 97.8 | 55.4 | 18.88 | +76.5% |
| Total Income | 115.31 | 81.58 | 49.73 | +41.3% |
| Profit After Tax | 10.97 | 4.56 | 0.64 | +140.6% |
| EBITDA | 19.18 | 8.3 | 1.48 | +131.1% |
| NET Worth | 42.26 | 15.42 | 3.86 | +174.1% |
| Reserves and Surplus | 27.53 | 4.57 | 3.75 | ×6.0 |
| Total Borrowing | 46.82 | 13.32 | 6.35 | +251.5% |
About Vedant Poly Fabs
Vedant Poly Fabs Limited, incorporated in December 2018, is engaged in the manufacturing of flexible packaging materials for business customers across India. The company offers a diversified product portfolio, including 3-layer and 5-layer LD films, shrink films, barrier films, printed laminates, and milk and oil pouches. Its products cater to the packaging requirements of the food and beverage industry and other consumer goods segments.
The company operates an integrated manufacturing process covering film extrusion, printing, lamination, slitting, quality control, and packaging. In March 2026, it strengthened its manufacturing infrastructure by adding lamination, slitting, and pouching machines and installing a reprocessing unit to support waste recycling and improve resource utilization. These initiatives reflect its focus on enhancing operational capabilities and supporting evolving customer requirements. As of March 31, 2026, the company had a workforce of 72 employees, comprising 41 permanent and 31 contractual employees.
Objects of the issue
- 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
Net proceeds: ₹32.11 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Vedant Poly Fabs Ltd. (issuer) | 10.05 | 10.05 | 28.7 | — | 25.95% | — | Restated |
| B&a Packaging India Ltd | 14.24 | 14.24 | 180.16 | 12.25x | 7.9% | 0.97 | Standalone |
| Barflex Polyfilms Limited | 1.93 | 1.93 | 38.82 | 29.66x | 4.07% | 1.5 | Consolidated |
Strengths (per the offer document)
- Integrated Manufacturing Operations — We carry out our manufacturing operations at our in-house facility, where multiple stages of the production process are undertaken within our premises.
- Quality Control Mechanism — Our manufacturing operations are supported by an in-house laboratory equipped with various testing instruments for evaluating the quality and performance of our products.
- Strategic Locational Advantage — Our manufacturing facility is located in Barasat, West Bengal, which provides connectivity through established road and rail networks, facilitating movement of raw materials and finished goods.
- Production Volume of Products — Product Name Unit Fiscal 2026 Fiscal 2025 Fiscal 2024 Lamination Kgs 30,82,044.37 13,60,511.10 73,648.33 Printed Plastics Kgs 28,79,427.92 21,11,763.58 20,49,885.58 Milk Film Kgs 2,11,743.03…
- Diversified Product Portfolio and Product Development Capabilities — We manufacture a range of flexible packaging products, including multilayer LD films, printed laminates and pouches, which are used across various packaging applications in industries such as food…
- In-house Transportation and Logistics Capability — We utilise our own transportation fleet, comprising 8 vehicles, for delivery of finished goods to customer locations.
Risk factors (as disclosed by the company)
- Significant portion of our revenue has been generated from Eastern part of India — Significant portion of our revenue is concentrated in West Bengal.
- Limited experience of our management/promoters with listed Companies may impact our ability — to comply with regulatory and governance requirements Our management/promoters have limited or no prior experience serving on the boards of listed companies and may therefore be unfamiliar with the…
- Our cost of production is exposed to fluctuations in the prices of our major raw material, especially LDPE Plastic Granules — LDPE Plastic Granules, Metallocene Plastic Granules and Polyester Film constitute a significant portion of our raw material costs and are essential inputs in the manufacturing of our flexible…
- Our Company had commenced operations at its manufacturing unit prior to obtaining the requisite statutory registration — Our Company had commenced operations at its manufacturing unit situated at 6/1/Q Digberia Road, Barasat, P.O.
- Trade Receivables and Inventories forms a significant part of our current assets. Failure to — manage our trade receivables could have an adverse effect on our sales, profitability, cash flow and liquidity.
- Our Company has negative cash flows from its operating activities and investing activities majorly in the prior period, details of which are given below — Our Company had reported certain negative cash flows from its operating activities and investing activities in previous years as per the restated financial statements and the same are summarized as…
- There are outstanding legal proceedings involving our Company, its subsidiaries, our Directors, our Promoters and Promoter Group, and Group Companies — management time and attention and have an adverse effect on our business, prospects, results of There are outstanding legal proceedings involving our Company, its subsidiaries, our Directors, our…
- Fraud, theft, employee negligence or similar incidents may adversely affect our results of — Our operations are exposed to risks arising from fraud, theft, employee negligence, or similar incidents that could result in financial losses, reputational damage, and operational disruptions.
From the RHP (strengths pages 198–201, risk factors pages 47–57). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF)
Track this issue
- Vedant Poly Fabs IPO GMP today and trend
- Vedant Poly Fabs IPO subscription status, day by day
- Vedant Poly Fabs IPO allotment status and how to check
Frequently asked questions
When does the Vedant Poly Fabs IPO open and close?
The issue is scheduled for 2 – 4 Nov 2026.
What is the Vedant Poly Fabs IPO price band?
The price band is ₹88 – ₹94 per share with a lot size of 1,200 shares.
How big is the Vedant Poly Fabs IPO?
The total issue size is ₹56.68 Cr, of which ₹51.01 Cr is a fresh issue and ₹5.67 Cr an offer for sale.
When will Vedant Poly Fabs list?
The tentative listing date is 9 Nov on the SME platform.
How do I apply for the Vedant Poly Fabs IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Vedant Poly Fabs · as filed with SEBI · nsearchives.nseindia.com
- Registrar allotment page, Cameo Corporate Services Ltd. · allotment 5 Nov · ipo.cameoindia.com
- NSE public issues page · listing 9 Nov · nseindia.com
- Vedant Poly Fabs company website · vedantpolyfabs.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · as of 28 Oct 2026 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Vedant Poly Fabs IPO”, https://buyunlistedshares.com/ipo/vedant-poly-fabs-ipo, as of 28 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. Data as of 28 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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