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Vaibhav Vyapaar IPO
₹2,08,000/2000 ( 2 Lots ) shares
Minimum Investment
IPO Details
13 Oct 26
15 Oct 26
₹2,08,000
2000 ( 2 Lots )
₹50 to ₹52
NSE
₹40.54 Cr
21 Oct 26
Open Free Demat Account
Open Free Demat Account
Vaibhav Vyapaar IPO Timeline
Bidding Start
13 Oct 26
Bidding Ends
15 Oct 26
Allotment Finalisation
16 Oct 26
Refund Initiation
19 Oct 26
Demat Transfer
19 Oct 26
Listing
21 Oct 26
About Vaibhav Vyapaar Limited
Vaibhav Vyapaar Limited, incorporated in February 2009, is a Non-Banking Financial Company providing unsecured personal loans to salaried and self-employed individuals through its digital lending platform, LoanFront. The company offers loans through direct lending and co-lending arrangements and also provides application and technology services to other NBFCs. Its technology-enabled model covers customer verification, credit assessment, underwriting, documentation, disbursal and repayment. The company focuses on underserved borrowers, including first-time borrowers and lower-income salaried professionals across urban and semi-urban markets. As of July 31, 2026, it had Assets Under Management of ₹812.41 crore and net worth of ₹471.96 crore.
Vaibhav Vyapaar Limited IPO Overview
Vaibhav Vyapaar Limited is launching a bookbuilding IPO of ₹40.54 crore, comprising 77,96,000 shares and an entirely fresh issue. The IPO will open for subscription on 13 October 2026 and close on 15 October 2026. The price band is fixed at ₹50 to ₹52 per share, with a face value of ₹5 per share. The company will list its shares on the NSE SME platform, with the tentative listing date scheduled for 21 October 2026. IPO allotment is expected to be finalised on 16 October 2026, followed by refund initiation and credit of shares to demat accounts on 19 October 2026. GetFive Advisors Pvt. Ltd. is the book running lead manager, while Kfin Technologies Ltd. is the registrar. The lot size is 2,000 shares, with retail investors required to apply for a minimum of two lots, or 4,000 shares.
Vaibhav Vyapaar Limited IPO Details
| Particulars | Details |
| IPO Date | 13 to 15 October 2026 |
| Listing Date | 21 October 2026 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹50 to ₹52 per share |
| Lot Size | 2,000 Shares |
| Total Issue Size | 77,96,000 shares (aggregating up to ₹40.54 Cr) |
| Fresh Issue | 77,96,000 shares (aggregating up to ₹40.54 Cr) |
| Offer for Sale | NA |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 2,03,86,423 shares |
| Share Holding Post Issue | 2,81,82,423 shares |
| Market Maker Portion | 3,90,000 shares (aggregating up to ₹2 Cr) |
Vaibhav Vyapaar Limited IPO Reservation
| Investor Category | Shares Offered |
| QIB | 36,94,000 shares (49.88% of Net Issue) |
| Retail | 25,96,000 shares (35.05% of Net Issue) |
| NII (HNI) | 11,16,000 shares (15.07% of Net Issue) |
Vaibhav Vyapaar Limited IPO Lot Size
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 4,000 | ₹2,08,000 |
| Retail (Max) | 2 | 4,000 | ₹2,08,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,12,000 |
| S-HNI (Max) | 9 | 18,000 | ₹9,36,000 |
| B-HNI (Min) | 10 | 20,000 | ₹10,40,000 |
Vaibhav Vyapaar Limited IPO Promoter Holding
| Shareholding Status | Percentage |
| Pre-Issue | 99.99% |
| Post-Issue | 72.34% |
Vaibhav Vyapaar Limited IPO Valuation Overview
| KPI | Value |
| Earnings Per Share (EPS) | ₹0.70 |
| Price/Earnings (P/E) Ratio | TBD |
| Return on Net Worth (RoNW) | 6.75% |
| Net Asset Value (NAV) | ₹18.13 |
| Return on Equity | 6.99% |
| Return on Capital Employed (ROCE) | 26.99% |
| EBITDA Margin | 29.47% |
| PAT Margin | 5.36% |
| Debt to Equity Ratio | 1.60x |
Objectives of the Proceeds
I. Augment Capital Base:
₹32 crore will strengthen the company’s capital base and support expansion of its lending operations and financial resources.
II. General Corporate Purposes:
Remaining proceeds will support general corporate requirements, business operations and other permissible purposes as determined by management.
Key Financials (in ₹ crore)
| Particulars | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 84.23 | 55.04 | 61.18 |
| Revenue / Total Income | 37.64 | 25.34 | 25.46 |
| Profit After Tax | 1.97 | 1.48 | 0.45 |
| Reserves and Surplus | 21.14 | 23.19 | 21.71 |
| Total Borrowings | 46.80 | 22.66 | 26.76 |
IPO Strengths
I. Technology-driven digital lending platform.
II. Focus on underserved and first-time borrowers.
III. Strong market understanding and customer insights.
IV. Diversified lending model through direct and co-lending.
V. Disciplined underwriting framework and robust risk management.
Peer Group Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) |
| Vaibhav Vyapaar | 1.22 | 1.22 | 18.13 | — | 6.75 |
| Peer Group | |||||
| Paisalo Digital Ltd. | 2.59 | 2.59 | 19.49 | 22.78 | 13.24 |
| Apollo Finvest India Ltd. | 18.63 | 18.63 | 199.03 | 19.01 | 9.36 |
| Moneyview Ltd. | 1.60 | 1.58 | 12.98 | — | 12.52 |
SWOT Analysis of Vaibhav Vyapaar IPO
Strength and Opportunities
- Technology-driven digital lending platform supports efficient loan origination, verification, underwriting and repayment processes.
- Focus on underserved and first-time borrowers provides access to a sizeable consumer lending segment.
- Direct and co-lending models diversify the company’s lending and revenue-generation channels.
- Strong understanding of customer behaviour can support targeted underwriting and product development.
- Digital lending adoption in urban and semi-urban markets offers opportunities for portfolio expansion.
- Capital infusion from the IPO can strengthen the lending base and support future business growth.
- Experienced management and technology capabilities provide a platform for scaling digital financial services.
Risks and Threats
- Unsecured lending exposes the company to potential credit losses, borrower defaults and deterioration in asset quality.
- Changes in interest rates, funding costs and liquidity conditions may affect profitability and lending growth.
- Regulatory changes affecting digital lending, NBFCs or consumer credit could increase compliance requirements and operating costs.
- Dependence on technology infrastructure creates cybersecurity, data privacy and operational risks.
- Intense competition from banks, NBFCs and fintech lenders may pressure pricing, customer acquisition and margins.
- Rising borrower defaults or weaker economic conditions could adversely affect collections and financial performance.
- Concentration in unsecured personal lending may expose earnings to fluctuations in consumer credit conditions.
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