Vama Wovenfab Limited SME IPO — Comprehensive Analysis, Live GMP, Dates & Financial Overview
Vama Wovenfab IPO Overview
Vama Wovenfab Limited is bringing a main SME book-built Initial Public Offering (IPO) aggregating up to ₹49.54 Crores. The issue is entirely a Fresh Capital Issue comprising 14.53 lakh equity shares of face value ₹10 each. There is no Offer for Sale (OFS) component in this issue, meaning 100% of the raised funds (net of issue expenses) will flow directly into the company’s balances for growth and operational expansion.
The subscription window for the Vama Wovenfab IPO opens on Tuesday, September 15, 2026, and closes on Thursday, September 17, 2026. The issue price band has been fixed between ₹324 to ₹341 per share. The shares will list on the BSE SME platform, with the tentative listing date scheduled for Tuesday, September 22, 2026.
Vama Wovenfab IPO Key Issue Parameters
| Issue Parameter | Details & Specifications |
|---|---|
| IPO Open Date | Tuesday, September 15, 2026 |
| IPO Close Date | Thursday, September 17, 2026 |
| Price Band | ₹324 to ₹341 per share |
| Face Value | ₹10 per equity share |
| Basic Lot Size | 400 Shares (Min application for Retail is 2 lots = 800 shares) |
| Total Issue Size | 14,52,800 shares (up to ₹49.54 Crores) |
| Fresh Issue Component | 14,52,800 shares (100% Fresh Issue) |
| Offer For Sale (OFS) | Nil (₹0.00) |
| Market Maker Reservation | 72,800 shares (Nikunj Stock Brokers Ltd.) |
| Net Offer to Public | 13,80,000 shares (up to ₹47.06 Crores) |
| Market Capitalization (at ₹341) | ₹176.94 Crores |
| Issue Type | Book Built SME IPO |
| Listing Exchange | BSE SME |
| Book Running Lead Manager (BRLM) | Gretex Corporate Services Limited |
| Registrar to the Issue | Maashitla Securities Private Limited |
Vama Wovenfab IPO Grey Market Premium (GMP) Tracking
The Grey Market Premium (GMP) reflects unofficial market sentiment prior to allotment and listing. As an SME offering, grey market activity typically begins building closer to the subscription opening date.
| Tracked Date | Upper Price Band | Estimated GMP | Expected Listing Price | Estimated Lot Return (%) |
|---|---|---|---|---|
| 13 Sep 2026 | ₹341 | ₹0 | ₹341 | 0.00% |
| 12 Sep 2026 | ₹341 | ₹0 | ₹341 | 0.00% |
| 11 Sep 2026 | ₹341 | ₹0 | ₹341 | 0.00% |
| 10 Sep 2026 | ₹341 | ₹0 | ₹341 | 0.00% |
Note: Grey Market Premium (GMP) is strictly an unofficial, unregulated metric driven by market sentiment. It should not be used as the sole criteria for making investment decisions on ipoind.com.
Lot Size & Investment Capital Breakdown
Because Vama Wovenfab is listing on the BSE SME platform, application sizing differs from mainboard offerings. The basic lot size is 400 shares. However, retail individual investors must bid for a minimum of 2 lots (800 shares), requiring a total minimum application capital of ₹2,72,800 at the cutoff price band of ₹341 per share.
| Investor Category | Minimum Lots | Total Shares | Minimum Amount Required (at ₹341) |
|---|---|---|---|
| Retail Individual Investor (Min) | 2 | 800 | ₹2,72,800 |
| Retail Individual Investor (Max) | 2 | 800 | ₹2,72,800 |
| Small HNI / S-HNI (Min) | 3 | 1,200 | ₹4,09,200 |
| Small HNI / S-HNI (Max) | 7 | 2,800 | ₹9,54,800 |
| Big HNI / B-HNI (Min) | 8 | 3,200 | ₹10,91,200 |
About Vama Wovenfab Limited
Incorporated in March 2011 as a private limited entity, Vama Wovenfab Limited converted into a public limited company in August 2025. The company operates in the plastic and polymer manufacturing domain, specializing in the design and production of Polypropylene (PP) and High-Density Polyethylene (HDPE) woven sack bags, woven fabrics, HDPE trampolines, colored woven fabric sheets, and loop handle bags. It also engages in trading plastic granules.
The company’s primary manufacturing facility is located in Bhimpore, Nani Daman. Production leverages virgin plastic granules melted and extruded into tapes, which are then woven into customized structural packaging fabrics. Re-processed granules recycled from production residues are also used to enhance cost efficiency. Products serve multiple sector packaging needs across agriculture, fertilizers, cement, and industrial chemical sectors.
Competitive Strengths
- Integrated manufacturing capabilities based out of the Daman industrial cluster.
- Established relationships with bulk B2B clients across fertilizers, agriculture, and industrial chemicals.
- Significant top-line revenue acceleration over recent financial reporting periods.
- Resource optimization using re-processed granules alongside virgin feedstock.
Key Risk Factors & Challenges
- High Customer Concentration Risk: A major portion of revenue relies on top bulk buyers without multi-year long-term exclusive contracts. Loss of key accounts can impact profit margins.
- Raw Material Volatility: Primary inputs (PP and HDPE granules) are directly linked to crude oil and petrochemical price fluctuations.
- Working Capital Intensity: Operating cash flow has faced seasonal pressure due to high inventory and trade credit requirements.
Vama Wovenfab Limited Financial Performance (Restated)
Vama Wovenfab has demonstrated significant top-line expansion between FY24 and FY26. For the financial year ending March 31, 2026, revenue surged by 176% YoY, accompanied by a 69% increase in profit after tax (PAT).
| Financial Indicator | FY Ending Mar 31, 2026 (₹ Cr) | FY Ending Mar 31, 2025 (₹ Cr) | FY Ending Mar 31, 2024 (₹ Cr) |
|---|---|---|---|
| Total Assets | 74.18 | 67.47 | 37.14 |
| Total Revenue / Income | 214.62 | 77.45 | 27.87 |
| Profit After Tax (PAT) | 11.55 | 6.84 | 2.63 |
| EBITDA | 17.85 | 10.36 | 5.11 |
| Net Worth | 28.69 | 17.15 | 9.05 |
| Reserves & Surplus | 24.96 | 13.41 | 5.44 |
| Total Borrowings | 25.44 | 16.94 | 11.17 |
Key Performance Indicators (KPIs) & Valuations
Financial parameters as disclosed in the RHP for the period ending March 31, 2026:
| Key Performance Indicator (KPI) | Value (FY26) |
|---|---|
| Return on Equity (ROE) | 50.37% |
| Return on Capital Employed (ROCE) | 31.94% |
| Debt to Equity Ratio | 0.89x |
| PAT Margin (%) | 5.38% |
| EBITDA Margin (%) | 8.32% |
| Net Asset Value (NAV) per Share | ₹76.80 |
| Price to Book Value (P/BV) | 4.44x |
Valuation Metrics
| Valuation Parameter | Pre-IPO | Post-IPO |
|---|---|---|
| Earnings Per Share (EPS) | ₹30.90 | ₹22.25 |
| Price-to-Earnings (P/E) Multiple | 11.04x | 15.33x |
| Market Capitalization | ₹127.40 Cr | ₹176.94 Cr |
Objects of the Issue
The company plans to deploy the net proceeds from the fresh capital issue toward the following capital expenditure and liquidity objectives:
| # | Objects of the Issue Description | Estimated Amount (₹ Cr) |
|---|---|---|
| 1 | Capital expenditure toward the construction of a operational shed at the Bhimpore unit | 1.36 |
| 2 | Capital expenditure toward the purchase of additional manufacturing machinery | 7.25 |
| 3 | Funding working capital requirements for increased scale of operations | 26.50 |
| 4 | General Corporate Purposes & Issue Expenses | Balance Proceeds |
Promoter Shareholding & Structure
Promoters of Vama Wovenfab: Suresh Mohanlal Gupta and Vaibhav Suresh Gupta.
- Pre-Issue Promoter Shareholding: 100.00% (37,36,164 Equity Shares)
- Post-Issue Promoter Shareholding: 72.00% (51,88,964 Equity Shares)
- Post-Issue Public Shareholding: 28.00%
Registrar, Lead Manager & Contact Information
Registrar to the Issue
Maashitla Securities Private Limited
Website: https://maashitla.com
Email: ipo@maashitla.com
Book Running Lead Manager (BRLM)
Gretex Corporate Services Limited
Website: www.gretexcorporate.com
Market Maker
Nikunj Stock Brokers Limited
Company Registered Office
Vama Wovenfab Limited
Manufacturing Plant: Coastal Highway, Bhimpore, Nani Daman, Daman – 396210, India
Vama Wovenfab IPO Documents
Frequently Asked Questions (FAQs) — Vama Wovenfab IPO
1. What are the opening and closing dates for the Vama Wovenfab IPO?
The Vama Wovenfab IPO opens for subscription on September 15, 2026, and closes on September 17, 2026.
2. What is the issue price band and face value?
The price band is fixed between ₹324 and ₹341 per equity share. The face value of each share is ₹10.
3. What is the minimum retail investment amount for Vama Wovenfab IPO?
The basic lot size is 400 shares. Retail investors must bid for a minimum of 2 lots (800 shares), bringing the minimum investment amount to ₹2,72,800 at the upper price band.
4. What is the total size of the Vama Wovenfab IPO?
The IPO is an SME issue totaling ₹49.54 Crores, consisting entirely of a fresh issue of 14,52,800 equity shares. There is no offer for sale (OFS).
5. When is the share allotment date for Vama Wovenfab IPO?
The basis of allotment is expected to be finalized on Friday, September 18, 2026.
6. Where can I check Vama Wovenfab IPO allotment status?
Allotment status can be checked on the official portal of the registrar, Maashitla Securities Private Limited, using your PAN, Application Number, or DP Client ID.
7. What is the tentative listing date and exchange?
The equity shares of Vama Wovenfab Limited are tentatively scheduled to list on the BSE SME platform on Tuesday, September 22, 2026.
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Grey Market Premium (GMP) Notice: Figures regarding Grey Market Premium (GMP), Kostak rates, and subject-to-sauda deals reflect unofficial, unregulated over-the-counter market sentiment. These figures do not guarantee exchange listing prices or actual trading outcomes. Always evaluate official Draft Red Herring Prospectus (DRHP / RHP) documents filed with BSE/NSE and consult a certified financial advisor prior to executing financial bidding decisions.