Vedant Poly Fabs IPO Details: Key Dates, Price Band & Investment Overview

By Wealthova | Last Updated: November 1, 2026

Vedant Poly Fabs Limited, an emerging player in the Indian flexible packaging sector, is gearing up to make its primary market debut with an upcoming ₹56.68 Crore SME IPO. Operating as an integrated manufacturer, the business focuses on producing customized flexible packaging solutions, including multi-layer LD films, shrink films, barrier films, and printed laminates for the food, beverage, and consumer goods industries. Supported by a strong track record of in-house extrusion, printing, and lamination capabilities, the company maintains a robust footprint supplying diverse B2B customers across India. The subscription window for this book-built issue opens on November 2, 2026, and closes on November 4, 2026. The price band is set between ₹88 to ₹94 per equity share. The ₹56.68 Crore offering is structured as a combination of a ₹51.01 Crore Fresh Issue (54.26 Lakh shares) and an Offer for Sale (OFS) of ₹5.67 Crore (6.04 Lakh shares) by the existing promoters. Retail investors must apply for a minimum of 2 lots (2,400 shares), requiring an investment of ₹2,25,600 at the upper price band. The company plans to utilize the fresh capital primarily to fund heavy incremental working capital requirements (₹24.61 Crore), prepayment or repayment of outstanding borrowings (₹8.00 Crore), and strategic capital expenditure for new plant and machinery. Set to list on the NSE SME platform, market participants are closely watching this fast-growing packaging enterprise, backed by a robust FY26 total revenue of ₹115.31 Crore and a solid net profit of ₹10.97 Crore. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!



Vedant Poly Fabs IPO Details

Quick IPO Factsheet

Bidding Opens

November 2, 2026

Bidding Closes

November 4, 2026

Price Band

₹88 to ₹94

(Book Built)
Lot Size

1,200 Shares (Base)

(Min. 2 Lots / 2,400 Shares for Retail)
Total Issue Size

₹56.68 Cr

(60.30 Lakh Shares)
Fresh Issue / OFS

₹51.01 Cr / ₹5.67 Cr

(Combined Book-Built Issue)
Retail Category

59.32% Allocation

(Of the Net Issue)
Face Value

₹10 Base

Market Structure

SME (NSE SME)




Vedant Poly Fabs IPO Timeline

IPO Open Date November 2, 2026
IPO Close Date November 4, 2026
Basis of Allotment November 5, 2026
Initiation of Refunds November 6, 2026
Credit to Demat Account November 6, 2026
NSE SME Listing Date November 9, 2026



Deep-Dive Corporate Profile: What Does Vedant Poly Fabs Limited Do?

Vedant Poly Fabs Limited operates as a rapidly scaling, highly integrated manufacturer within the Indian flexible packaging sector. The company specializes in designing, producing, and customizing a diverse array of specialized flexible packaging solutions that serve critical functions across the food, beverage, consumer goods, and industrial sectors.

The core operations and competitive strengths of Vedant Poly Fabs are defined by the following business pillars:

  • Specialized Integrated Manufacturing: The company operates as a comprehensive "one-stop-shop" for flexible packaging. Their production capabilities span the entire manufacturing lifecycle, including advanced in-house extrusion, high-quality printing, and multi-layer lamination.
  • Customized Packaging Solutions: Vedant Poly Fabs does not just produce generic plastic wraps; they engineer highly customized products tailored to specific client needs. Their primary product portfolio includes high-performance multi-layer LD (Low-Density) films, shrink films, barrier films, and printed laminates designed to extend shelf life and protect product integrity.
  • Cross-Sector Applicability: The company's flexible packaging solutions are highly versatile and widely utilized across multiple resilient industries, ensuring stable demand. Their primary customer base spans the fast-moving consumer goods (FMCG), food processing, beverage, and broader industrial manufacturing sectors.
  • Expanding B2B Footprint: The company has built a robust and expanding domestic market presence, seamlessly supplying its customized packaging solutions to a diverse array of B2B clients across India.


Why is the Company Raising Funds? (Objects of the Issue)

The ₹56.68 Crore SME IPO is structured as a combination of a ₹51.01 Crore Fresh Issue and an Offer for Sale (OFS) of ₹5.67 Crore. This means the vast majority of the capital raised from the public (net of issue-related expenses) will be injected directly into the company to aggressively scale its physical infrastructure, fund daily operations, and deleverage its balance sheet.

The net proceeds from the fresh issue are strictly earmarked for the following strategic growth objectives:

  • Incremental Working Capital Requirements (₹24.61 Crore): The largest tranche of the fresh capital is dedicated to managing the company's daily operational liquidity. The flexible packaging sector is highly working-capital intensive, requiring upfront cash for raw material procurement (polymers, resins) while managing extended B2B payment cycles. These funds will allow the company to comfortably execute larger production orders without straining its balance sheet.
  • Prepayment or Repayment of Outstanding Borrowings (₹8.00 Crore): A significant portion of the funds will be used strategically to retire existing high-interest debt. By deleveraging the balance sheet, Vedant Poly Fabs will immediately reduce its ongoing finance costs, thereby boosting its net profit margins and enhancing overall financial stability.
  • Capital Expenditure for New Plant and Machinery: A portion of the funds will be strategically deployed toward heavy capital expenditure, specifically the acquisition and installation of new, advanced manufacturing machinery to expand production capacity and enhance product quality.
  • General Corporate Purposes: The remaining net proceeds will be allocated toward covering overarching corporate operations, strategic business development initiatives, and standard IPO-related expenses.

🏛️ General Corp & Exp 37.06%

₹18.90 Cr - Allocated for overarching corporate operations, strategic initiatives, and standard IPO issue expenses.

💼 Working Capital 34.49%

₹17.59 Cr - Liquid capital required to manage extended B2B payment cycles and procure flexible packaging raw materials.

📉 Debt Repayment 15.69%

₹8.00 Cr - Strategic prepayment or repayment of outstanding borrowings to reduce finance costs and boost net margins.

🏗️ Capital Expenditure 12.76%

₹6.51 Cr - Funding the purchase and installation of new, advanced plant and machinery at the existing manufacturing facility.



Company Financials

*All amounts are in ₹ Crores (Restated Consolidated). Period ending Mar 31.
📅 Period Ended 📈 Total Income 💼 Net Worth 💰 PAT 🏦 Assets
FY 2024 ₹49.73 ₹3.86 ₹0.64 ₹18.88
FY 2025 ₹81.58 ₹15.42 ₹4.56 ₹55.40
FY 2026 ₹115.31 ₹42.26 ₹10.97 ₹97.80



Vedant Poly Fabs IPO Key Performance Indicators (KPIs)

Financial KPI (Mar 31, 2026)* Value
Return on Equity (ROE) 38.03% (FY26)
Return on Capital Employed (ROCE) 46.34% (FY26)
EBITDA Margin 16.50% (FY26)
PAT Margin 9.52% (FY26)
Debt to Equity Ratio 1.11x (FY26)
Return on Net Worth (RoNW) 25.95% (FY26)
Earnings Per Share (EPS) ₹7.45 (Pre-IPO) | ₹6.90 (Post-IPO)
Price/Earning (P/E) Ratio 12.62x (Pre-IPO) | 13.62x (Post-IPO)
Net Asset Value (NAV) ₹30.97 (Pre-IPO)
Price to Book (P/B) Value 3.04x (At Offer Price)
Market Cap at Offer Price ₹138.42 Cr (Pre-IPO) | ₹189.43 Cr (Post-IPO)



Promoters & Shareholding Pattern

Shareholder Category Pre-IPO Holding Post-IPO Holding
Promoter & Promoter Group 100.00% 70.08%
Public / Institutional / Others 0.00% 29.92%
💡
• Smart Market Insights

Vedant Poly Fabs Limited enters the NSE SME market backed by its core founding promoters: Pankaj Kumar Maheshwari, Sujata Maheshwari, and Sethsawaria Poly Fab LLP. Prior to the IPO, the promoter group maintained a highly concentrated 100.00% equity stake in the business. The ₹56.68 Crore offering is a combination of a ₹51.01 Crore Fresh Issue and an Offer for Sale (OFS) of ₹5.67 Crore. Post-issue, the promoter holding will dilute to a commanding 70.08%, ensuring their long-term interests remain completely aligned with minority shareholders as they deploy the fresh capital to aggressively scale their specialized flexible packaging manufacturing capacity.

Industry Peer Comparison

Company Name EPS (₹) P/E Ratio (Post-IPO) RoNW (%)
Vedant Poly Fabs Limited 6.90 (Post-IPO) 13.62x 25.95%
B&A Packaging India Limited 14.24 12.25x 7.90%
Barflex Polyfilms Limited 1.93 29.66x 4.07%



IPO Strengths & Key Risks

✓ Strengths
Integrated Manufacturing Advantage: Vedant Poly Fabs operates as a comprehensive "one-stop-shop" for customized flexible packaging. By housing extrusion, printing, and multi-layer lamination all under one roof, the company ensures strict quality control, faster turnaround times, and superior operating margins compared to non-integrated peers.
Explosive Revenue & Profit Scaling: The company has demonstrated phenomenal top-line and bottom-line growth. Total Income more than doubled from ₹49.73 Crore in FY24 to a massive ₹115.31 Crore in FY26. Concurrently, Profit After Tax (PAT) skyrocketed from just ₹0.64 Crore to an impressive ₹10.97 Crore over the same period.
Exceptional Capital Efficiency: The company generates outstanding returns on the money invested into the business. For FY26, Vedant Poly Fabs recorded a stellar Return on Equity (ROE) of 38.03% and a phenomenal Return on Capital Employed (ROCE) of 46.34%, showcasing highly efficient asset utilization.
Strategic Deleveraging & Capacity Expansion: Out of the fresh issue proceeds, a strategic ₹8.00 Crore is specifically earmarked to retire existing high-interest debt, which will immediately reduce ongoing finance costs and boost net profit margins. Furthermore, ₹6.51 Crore is dedicated to purchasing new machinery to aggressively expand production capacity.
✕ Key Risks
Severe Working Capital Requirements: The B2B flexible packaging sector inherently suffers from stretched cash conversion cycles. The company requires significant upfront cash to procure polymers while managing delayed client payments. A massive ₹24.61 Crore of the IPO proceeds is required purely to fund these heavy, ongoing liquidity constraints.
Vulnerability to Petrochemical Price Volatility: The manufacturing of LD films, shrink films, and laminates is heavily dependent on petrochemical-derived raw materials like plastic granules and resins. Any sudden fluctuations in global crude oil prices directly impact manufacturing costs and can severely compress operating margins.
Highly Competitive & Fragmented Industry: The flexible packaging sector in India is intensely competitive, populated by numerous large organized players and local unorganized manufacturers. This fragmentation severely limits pricing power and makes client retention highly challenging during economic downturns.
Moderately Leveraged Balance Sheet: Prior to the IPO, the company operates with a moderately high Debt-to-Equity ratio of 1.11x (as of FY26). While the IPO proceeds will partially address this via the ₹8.00 Crore debt repayment allocation, high historical borrowing levels represent a tangible risk to free cash flow generation.



💡

Smart Market Insights

Wealthova Verdict: SUBSCRIBE FOR LONG TERM

Vedant Poly Fabs Limited enters the NSE SME platform as an integrated manufacturer in the Indian flexible packaging sector, producing highly customized multi-layer films, shrink films, and printed laminates. By housing extrusion, printing, and lamination under one roof, the company has demonstrated explosive top-line and bottom-line scaling over the past three years. Total Income more than doubled from ₹49.73 Crore in FY24 to a massive ₹115.31 Crore in FY26. More impressively, Profit After Tax (PAT) skyrocketed from a modest ₹0.64 Crore to an impressive ₹10.97 Crore over the same period. The company boasts exceptional capital efficiency, recording a stellar Return on Equity (ROE) of 38.03% and a Return on Capital Employed (ROCE) of 46.34% for FY26.

The ₹56.68 Crore offering is a combination of a ₹51.01 Crore Fresh Issue and a ₹5.67 Crore Offer for Sale (OFS). The founding promoters are retaining a commanding 70.08% post-issue stake, ensuring their long-term interests remain aligned with minority shareholders. Management's capital allocation strategy for the fresh funds is highly strategic: a significant ₹17.59 Crore is dedicated to funding the heavy incremental working capital required in the B2B packaging space, while ₹8.00 Crore will be strategically utilized to retire existing high-interest debt, addressing the company's currently moderate Debt-to-Equity ratio of 1.11x. An additional ₹6.51 Crore is earmarked for purchasing new machinery to expand capacity. However, investors must remain highly aware of the sector's inherent risks, particularly the severe fragmentation of the packaging industry (which limits pricing power) and the company's direct vulnerability to petrochemical and crude oil price volatility.

From a valuation perspective, the issue appears reasonably priced, leaving some value on the table for investors. At the upper price band of ₹94 per share, Vedant Poly Fabs commands a post-issue market capitalization of ₹189.43 Crore. Based on its robust FY26 earnings, the stock is valued at a Post-IPO Price-to-Earnings (P/E) multiple of 13.62x and a Price-to-Book (P/B) ratio of 3.04x. When compared to listed peers like B&A Packaging (12.25x) and Barflex Polyfilms (29.66x), Vedant's valuation sits comfortably in the fair-value zone, especially given its superior ~46% ROCE. Because the fresh capital will be used to aggressively deleverage the balance sheet—which should immediately boost net profit margins moving forward—we assign a SUBSCRIBE FOR LONG TERM rating for investors willing to navigate the cyclical nature of raw material pricing in the packaging sector.

Disclaimer: The information provided above is for educational and informational purposes only and does not constitute financial advice. Initial Public Offerings (IPOs) carry market risks, and equity investments are subject to broader market fluctuations. Wealthova is not a SEBI-registered investment advisor. Always consult with a certified financial planner and conduct your own due diligence before locking up capital in any public issue.



Vedant Poly Fabs IPO Key Contacts & Advisors

Role / Entity Contact & Details
📋 IPO Registrar Cameo Corporate Services Ltd.
Phone: 044-28460390
Website: cameoindia.com
🏢 Company Contact Vedant Poly Fabs Ltd.

Registered Office: 6/1/ Q Digberia Road, Barasat, PO Badu, North 24 Parganas, West Bengal

💼 Merchant Bankers Affinity Global Capital Market Pvt Ltd.

*Acting as the sole Book Running Lead Manager to the issue.



Frequently Asked Questions (FAQs)

What are the opening and closing dates for the Vedant Poly Fabs IPO?
The Vedant Poly Fabs Limited IPO opens for public subscription on November 2, 2026, and officially closes on November 4, 2026. The basis of allotment will be finalized on November 5, 2026, with the official stock market listing scheduled on the NSE SME platform for November 9, 2026.
What is the minimum lot size and investment required for retail investors?
While the base lot size is 1,200 shares, retail investors are required to apply for a minimum of 2 lots (2,400 shares). At the upper price band of ₹94 per share, the minimum retail investment required is ₹2,25,600.
How can I check the allotment status for the Vedant Poly Fabs IPO?
You can check your Vedant Poly Fabs IPO allotment status online starting November 5, 2026, using any of the following portals:
  1. Wealthova (Recommended): Check directly on the Wealthova IPO Allotment Status Hub using your PAN number or Application Number for real-time verification.
  2. Official Registrar Portal: Visit the official allotment page of Cameo Corporate Services Ltd.
  3. Stock Exchange Portal: Verify directly on the official NSE IPO allotment status page.
Where will the Vedant Poly Fabs IPO be listed?
Vedant Poly Fabs Limited is an SME public issue, and its equity shares will list exclusively on the NSE SME platform on November 9, 2026.
What is the total issue size and price band for the IPO?
The total issue size is ₹56.68 Crore (60.30 lakh shares). It is structured as a combination of a ₹51.01 Crore Fresh Issue and an Offer for Sale (OFS) of ₹5.67 Crore. The shares are offered via a book-built price band of ₹88 to ₹94 per equity share (Face Value: ₹10).
Who is the registrar and lead manager for this public issue?
Cameo Corporate Services Ltd. is acting as the official IPO Registrar. The sole Book Running Lead Manager for the offering is Affinity Global Capital Market Pvt Ltd.