Overview
Updated 2 hr agoVedant Poly Fabs Limited is a B2B manufacturer of flexible packaging materials, including multilayer films, shrink films, and laminates. The company operates a single manufacturing facility in West Bengal and serves customers across 11 states in India.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,12,800 |
| bNII (min) | 9 | 10,800 | ₹10,15,200 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 12 Nov, 18:33 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Day-wise demand
close of each bidding day| Day | Date | QIB | NII | bNII | sNII | Retail | Employee | Total |
|---|---|---|---|---|---|---|---|---|
| Day 1 | 2 Nov | -- | -- | -- | -- | -- | -- | 0.41x |
| Day 2 | 3 Nov | -- | -- | -- | -- | -- | -- | 0.93x |
| Day 3 | 4 Nov | -- | -- | -- | -- | -- | -- | 1.86x |
bNII = NII bids above ₹10 lakh, sNII = NII bids from ₹2 lakh to ₹10 lakh. Each day shows the last reading we recorded that day.
Grey market premium
Unofficial| Date | GMP | GMP % | Implied price |
|---|---|---|---|
| 06-Nov-2026 | +₹1 | +1.1% | ₹95 |
| 05-Nov-2026 | +₹1 | +1.1% | ₹95 |
| 04-Nov-2026 | +₹11 | +11.7% | ₹105 |
| 03-Nov-2026 | +₹15 | +16.0% | ₹109 |
| 02-Nov-2026 | +₹15 | +16.0% | ₹109 |
| 01-Nov-2026 | +₹5 | +5.3% | ₹99 |
| 31-Oct-2026 | ₹0 | 0.0% | ₹94 |
GMP is an unofficial, unregulated, community-tracked quote. It is not an exchange price and not a forecast. See how often it has been right →
Listing performance
Latest price updated 5 hr ago.
Grey market vs reality: the last GMP before listing was +₹1 (+1.1%). It listed at −5.0%, off by 6.1 points.
Issue details
| Status | Listed |
| Exchange | NSE |
| Segment | SME |
| Sector | Packaging |
| Price band | ₹88–94 |
| Final issue price | ₹94.00 |
| Face value | ₹10 per share |
| Lot size | 1,200 shares |
| Minimum investment | ₹1,12,800 |
| Issue size | ₹57.00 Cr |
| P/E at upper band | 9.4x |
| Registrar | Cameo Corporate Services Limited |
| Lead managers | Affinity Global Capital Market Private Limited |
| NSE symbol | VPFL |
| ISIN | INE2RWX01016 |
Shareholder quota and promoter holding
Company & business
Vedant Poly Fabs Limited is a business-to-business (B2B) manufacturer of flexible packaging solutions. The company's product portfolio includes multilayer Low-Density (LD) films, such as 3-layer and 5-layer films, shrink films, barrier films, printed laminates, and milk and oil pouches. These products are utilized for packaging applications across various industries, including food and beverages and other consumer goods. The company operates a single manufacturing unit located in Barasat, West Bengal, and is certified under ISO 9001:2015, ISO 22000:2018, and HACCP standards. As of March 31, 2026, the company manages operations across 11 states in India, catering to diverse customer requirements through its integrated manufacturing and supply chain capabilities.
Objects of the issue — how the money will be used
- Funding incremental working capital requirements (₹17.59 Cr)
- Prepayment or repayment of certain secured/unsecured borrowings (₹8 Cr)
- Capital expenditure for purchase and installation of plant and machinery (₹6.51 Cr)
Key strengths
- Integrated manufacturing operations
- Quality control mechanism
- Strategic locational advantage
- Diversified product portfolio
- In-house transportation and logistics capability
- Direct sales model
- Operational workforce
Key risks
- Dependency on suppliers for raw materials
- Substantial dependence on key customers
- Manpower and machine intensive operations
- Significant working capital requirements
- Risks associated with verbal orders
- Geographical concentration in Eastern India
- Limited management experience with listed companies
- Fluctuations in raw material prices
Promoters
Pankaj Kumar Maheshwari, Sujata Maheshwari, Sethsawariya Poly Fab LLP
Decoded from the RHP with AI on 31-Oct-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 49.53 | -- | 0.64 | -- | 3.86 | 6.35 |
| FY25 | 81.02 | -- | 4.56 | -- | 15.42 | 13.32 |
| FY26 | 115.14 | -- | 10.97 | -- | 42.26 | 46.82 |
Key performance indicators · FY26
Peers & valuation
Other Packaging IPOs
Same sector, listed just before and after this one, with their listing-day change.
Antala IndustriesANTALA · BSE · SME · Packaging−24.0%11 Nov
Dhaval PackagingDHAVALPACK · BSE · SME · Packaging+15.1%6 Aug Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.