Vama Wovenfab IPO Opens on September 15 at Rs 324 - Rs 341; Issue Size Up to Rs 49.54 Crore

Vama Wovenfab Limited is set to launch its initial public offering (IPO) on Tuesday, September 15, 2026. The SME IPO will comprise up to 14,52,800 fresh equity shares with a face value of Rs 10 each. The issue will close on Thursday, September 17, 2026, and the company has proposed a listing on the BSE SME platform on Tuesday, September 22, 2026, subject to applicable approvals.

The IPO has a price band of Rs 324 to Rs 341 per equity share. At the floor price, the issue size will be approximately Rs 47.07 crore, while at the upper end of the price band, it will be approximately Rs 49.54 crore.

The IPO is entirely a fresh issue, with no offer for sale by existing shareholders. The company has fixed the bid lot at 400 equity shares and in multiples thereafter. Individual investors are required to apply for a minimum of two lots, or 800 equity shares, requiring an investment of Rs 2,59,200 at the floor price and Rs 2,72,800 at the cap price.

For NII/HNI investors, the minimum application is three lots, or 1,200 equity shares, amounting to Rs 3,88,800 at Rs 324 per share and Rs 4,09,200 at Rs 341 per share.

Vama Wovenfab IPO: Category-wise Allocation

The gross issue consists of 14,52,800 equity shares. Of this, 72,800 equity shares, representing 5.01 per cent of the gross issue, have been reserved for the Market Maker Reservation Portion.

After excluding the Market Maker Reservation Portion, the Net Offer to the public comprises 13,80,000 equity shares. Retail investors have been allocated 10,89,600 shares, representing 78.96 per cent of the Net Offer and 75 per cent of the Gross Issue.

The NII/HNI category has been allocated 2,76,000 equity shares, representing 20 per cent of the Net Offer. This includes 92,400 shares for Small NII/HNI applications above Rs 2 lakh and up to Rs 10 lakh, and 1,83,600 shares for Big NII/HNI applications above Rs 10 lakh.

The QIB category has been allocated 14,400 equity shares, representing 1.04 per cent of the Net Offer and 0.99 per cent of the Gross Issue.

At Rs 324 per share, the Net Offer is valued at approximately Rs 44.71 crore, while at Rs 341 per share, it is approximately Rs 47.06 crore.

Share Capital and Dilution

Vama Wovenfab's pre-issue paid-up equity share capital comprises 37,36,164 equity shares. Following full subscription to the IPO, the company's post-issue paid-up equity share capital will increase to 51,88,964 equity shares.

The fresh issue represents approximately 28.00 per cent of the post-issue paid-up equity share capital. Since the IPO comprises only a fresh issue, existing shareholders will face an approximately 28.00 per cent dilution in their proportionate ownership, assuming full subscription.

Company Profile

Vama Wovenfab Limited was incorporated on March 16, 2011, as a public limited company and is registered with the Registrar of Companies, Mumbai, under Corporate Identification Number U18109MH2011PLC214860.

The company is ISO 9001:2015 certified and is primarily engaged in manufacturing and selling polypropylene (PP) and high-density polyethylene (HDPE) woven sack bags and fabric-based products of different weights, sizes and colours according to customer specifications.

Its product portfolio includes HDPE trampoline products, coloured woven fabric sheets and loop-handle bags. The company is also engaged in trading plastic granules.

Vama Wovenfab's registered office is located at 1104, W-92, L. T. Road, Borivali (West), Vazira Naka, Mumbai – 400092. Its manufacturing facility is situated at Survey Nos. 162/4, 162/6, 162/7 and 162/9, Coastal Highway, Bhimpore, Nani Daman, Daman – 396210, Union Territory of Dadra and Nagar Haveli and Daman and Diu.

Financial Performance

Vama Wovenfab reported strong growth in revenue and profitability over the three financial years ended March 31, 2026.

Revenue from operations increased from Rs 27.87 crore in FY 2023–24 to Rs 77.76 crore in FY 2024–25, representing a year-on-year growth of 179.01 per cent. Revenue further increased to Rs 214.62 crore in FY 2025–26, registering growth of 175.99 per cent.

EBITDA increased from Rs 5.15 crore in FY 2023–24 to Rs 10.57 crore in FY 2024–25, a growth of 105.24 per cent. It subsequently increased to Rs 17.86 crore in FY 2025–26, representing growth of 68.97 per cent.

Profit after Tax increased from Rs 2.63 crore in FY 2023–24 to Rs 6.84 crore in FY 2024–25, registering growth of 160.08 per cent. PAT further rose to Rs 11.55 crore in FY 2025–26, a growth of 68.86 per cent.

Total assets increased from Rs 37.14 crore in FY 2023–24 to Rs 67.47 crore in FY 2024–25 and further to Rs 74.18 crore in FY 2025–26. Net worth rose from Rs 9.05 crore to Rs 17.14 crore and then to Rs 22.93 crore over the same period.

Basic and diluted EPS increased from Rs 7.27 in FY 2023–24 to Rs 18.66 in FY 2024–25 and Rs 30.90 in FY 2025–26.

Between FY 2023–24 and FY 2025–26, revenue, EBITDA and PAT recorded compound annual growth rates of approximately 177.51 per cent, 86.23 per cent and 109.56 per cent, respectively.

Vama Wovenfab IPO Valuation

At the floor price of Rs 324 per share, the IPO implies a pre-issue price-to-earnings (P/E) ratio of 14.56 times based on the weighted average pre-issue EPS of Rs 22.25. At the cap price of Rs 341, the corresponding P/E is 15.33 times.

Based on FY 2025–26 basic and diluted EPS of Rs 30.90, the illustrative P/E works out to 10.49 times at the floor price and 11.04 times at the cap price.

The company's post-issue market capitalisation is estimated at Rs 168.12 crore at Rs 324 per share and Rs 176.94 crore at Rs 341 per share.

IPO Lead Manager, Market Maker and Registrar

Gretex Corporate Services Limited is the Book Running Lead Manager and an Underwriter to the issue. Nikunj Stock Brokers Limited is the Market Maker and an Underwriter, while Maashitla Securities Private Limited is the Registrar to the Issue.

Investors are advised to refer to the Red Herring Prospectus for the final underwriting arrangements, category-wise allocation, application procedure, objects of the issue, risk factors and other material information.

Vama Wovenfab IPO Timeline

The IPO is scheduled to open on September 15, 2026, and close on September 17, 2026. The tentative basis of allotment date is September 18, followed by initiation of refunds or unblocking of funds on September 21.

Equity shares are expected to be credited to successful investors' demat accounts on September 21, while the proposed listing on the BSE SME platform is scheduled for September 22, 2026, subject to applicable approvals.

Board of Directors and Key Management

The company's management includes Saurabh Suresh Gupta as Managing Director and Suresh Mohanlal Gupta as Chairman and Executive Director. Nisha Vaibhav Gupta is a Non-Executive Director, while Sushil Kumar Tibrewal and Ganesh Prasad R. Nayak are Independent Directors.

Vaibhav Suresh Gupta serves as Chief Financial Officer, while Sakshi Mishra is the Company Secretary and Compliance Officer.

Important Notice

Vama Wovenfab Limited is proposing an initial public offering subject to receipt of requisite approvals, market conditions and other considerations. The Red Herring Prospectus filed with the Registrar of Companies, Maharashtra at Mumbai, will contain detailed information regarding the issue.

Potential investors should note that investment in equity shares involves a high degree of risk and should refer to the Red Herring Prospectus, including the section titled “Risk Factors”, before making an investment decision. The issue and related announcements remain subject to the Red Herring Prospectus and applicable law. The dates mentioned above are tentative and may be revised.

Meta Keywords: Vama Wovenfab IPO, Vama Wovenfab IPO 2026, Vama Wovenfab IPO date, Vama Wovenfab IPO price band, Vama Wovenfab IPO price, Vama Wovenfab IPO size, Vama Wovenfab SME IPO, Vama Wovenfab BSE SME listing, Vama Wovenfab IPO September 2026, Vama Wovenfab financial results, Vama Wovenfab revenue, Vama Wovenfab PAT, Vama Wovenfab EPS, Vama Wovenfab valuation, SME IPO 2026, BSE SME IPO

Disclaimer: The article is for informational purposes only and not investment advice.