Vandan Foods IPO receives 1.02 times subscription applications by the end of Day 2
By Shishta Dutta | Published at: Jul 2, 2025 01:07 PM IST
Mumbai, 2 July 2025: Vandan Foods IPO will close today, 2nd July. As of 10:19 AM, the public issue received bids for 27.06 lakh equity shares against the 26.40 lakh shares on offer, resulting in an overall subscription of 1.02 times by the end of second day.
Retail Investors Propel IPO to Full Subscription
Retail Individual Investors (RIIs) led the momentum with a subscription rate of 1.84 times, far surpassing other categories. In contrast, Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) subscribed at 0.04 times and 0.33 times, respectively. The surge in retail participation was instrumental in helping the IPO achieve full subscription status by Day 3.
Day 3 Subscription Status (as of 10:19 AM)
| Investor Category | Shares Bid For | Applications Received | Subscription (X) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 4,800 | 2 | 0.04 |
| Non-Institutional Investors (NIIs) | 3,88,800 | 87 | 0.33 |
| Retail Individual Investors (RIIs) | 23,12,400 | 1,927 | 1.84 |
| Total | 27,06,000 | 2,016 | 1.02 |
Note: RII category continues to show strong traction, nearing twice the reserved quota.
Retail Applications Reveal Strong Price Confidence
Among RIIs, cut-off price applications accounted for 2.88 lakh shares from 240 applicants, while price-based bids comprised 20.24 lakh shares submitted by 1,687 applicants. This mix indicates high investor confidence in the IPO’s fixed pricing.
Issue Details Confirm Strong Market Response
The IPO, priced at ₹115 per share with a face value of ₹10, involved a lot size of 1,200 shares. The total issue size stood at 26.40 lakh shares, including 1.32 lakh shares reserved for market makers. The net issue available to investors was 25.08 lakh shares. The IPO was open from 30 June to 2 July 2025, with listing scheduled on the BSE SME platform.
Issue Structure Recap
| Particulars | Details |
|---|---|
| IPO Price | ₹115 (Face Value ₹10) |
| Lot Size | 1,200 shares |
| Issue Size | 26.40 lakh shares (₹30.36 crore) |
| Market Maker Reservation | 1.32 lakh shares |
| Net Issue | 25.08 lakh shares |
| Listing Platform | BSE SME |
| IPO Period | June 30 – July 2, 2025 |
Next Steps: Allotment, UPI Mandates, and Listing Timeline
The IPO will close at 5 PM today, and final UPI mandates will be accepted until 7 PM. The basis of allotment is expected within T+3 working days, followed by the listing on BSE SME shortly thereafter.
Vandan Foods Targets Growth with Fresh Capital Infusion
Founded in 2015 and headquartered in Gujarat, Vandan Foods Ltd is a leading producer of refined first-stage grade (F.S.G) castor oil and castor de-oiled cake, serving both industrial and export markets. The IPO proceeds are intended to fund the expansion of production capacity, strengthen working capital, and facilitate debt repayment, supporting the company’s growth trajectory in the castor oil industry.
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