Vedant Poly Fabs Ipo Opens At ₹88-94 Per Share; ₹56.68 Crore Issue Closes November 4

Vedant Poly Fabs Limited, a West Bengal-based flexible packaging manufacturer, opened its ₹56.68-crore initial public offering (IPO) on November 2, 2026. The issue will close on November 4, with shares proposed to be listed on the NSE Emerge platform on November 9.

The company has fixed the price band at ₹88-94 per share, with a face value of ₹10. The IPO comprises a fresh issue of 54,26,400 shares, amounting to approximately ₹51.01 crore, and an offer for sale (OFS) of 6,03,600 shares worth ₹5.67 crore at the upper price band. The OFS is being undertaken by promoter entity Sethsawaria Poly Fab LLP, and the proceeds from this portion will go to the selling shareholder.

The lot size is 1,200 shares, while the minimum retail application is for two lots, or 2,400 shares. Investors will need ₹2,11,200 at the lower price band or ₹2,25,600 at the upper price band to apply.

IPO Allocation And Listing Schedule

Under the issue structure, qualified institutional buyers can be allocated up to 50% of the net offer, while non-institutional investors have a minimum allocation of 15% and retail investors at least 35%. A separate portion of up to 3,04,800 shares has been reserved for market maker Giriraj Stock Broking.

Affinity Global Capital Market is the sole book-running lead manager, and Cameo Corporate Services is the registrar. The company has not made an anchor investor allocation.

Refunds and credit of shares to demat accounts are expected on or around November 6, followed by the proposed listing on November 9, 2026.

Company Business And Financial Performance

Incorporated in December 2018, Vedant Poly Fabs manufactures multilayer films, shrink films, barrier films, printed laminates and packaging pouches for the food, beverage, dairy and consumer goods industries. Its manufacturing operations include extrusion, printing, lamination, slitting and pouching.

The company reported revenue from operations of ₹115.14 crore in FY26, compared with ₹81.02 crore in FY25, registering year-on-year growth of 42.11%. Profit after tax increased to ₹10.97 crore in FY26 from ₹4.56 crore in the previous financial year.

Utilisation Of IPO Proceeds

Vedant Poly Fabs plans to allocate ₹24.61 crore towards working capital, ₹8 crore for repayment or prepayment of borrowings and ₹6.51 crore for plant and machinery. The remaining proceeds will be used for general corporate purposes and issue-related expenses.

The company has also highlighted risks relating to customer concentration, related-party transactions, supplier dependence, working capital requirements and the absence of formal purchase orders for certain business transactions.