Vama Wovenfab IPO

Incorporated in March 2011, Vama Wovenfab Limited manufactures PP and HDPE woven sack bags, fabrics and other packaging products for B2B customers. Its products are used across industries including agriculture, food processing, chemicals, fertilizers, sugar and cement. The company also trades in plastic granules and provides customised packaging solutions based on customer requirements. Its manufacturing facility is located in Nani Daman, where production began in 2013. The company operates with in-house quality control systems and holds ISO 9001:2015 certification. Its product range includes woven bags, BOPP bags, fabric sheets, loop handle bags and other customised packaging products.

Vama Wovenfab Limited IPO Overview

Vama Wovenfab Limited is launching a bookbuilding IPO of ₹49.54 crore comprising an entirely fresh issue of 14,52,800 equity shares. The IPO will open for subscription on 15 September 2026 and close on 17 September 2026. The IPO price band has been fixed at ₹324 to ₹341 per share, with a lot size of 400 shares. Retail investors need to apply for a minimum of two lots, or 800 shares, requiring an investment of ₹2,72,800 at the upper price band. The minimum HNI application is three lots, or 1,200 shares, amounting to ₹4,09,200. The IPO is proposed to be listed on the BSE SME platform on 22 September 2026. Gretex Corporate Services Ltd. is the book running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar. Nikunj Stock Brokers Ltd. is the market maker.

Vama Wovenfab Limited IPO Details

Particulars	Details
IPO Date	15 September 2026 to 17 September 2026
Listing Date	22 September 2026
Face Value	₹10 per share
Issue Price Band	₹324 to ₹341 per share
Lot Size	400 Shares
Total Issue Size	14,52,800 shares (aggregating up to ₹49.54 Cr)
Fresh Issue	14,52,800 shares (aggregating up to ₹49.54 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	37,36,164 shares
Share Holding Post Issue	51,88,964 shares
Market Maker Portion	72,800 shares

Vama Wovenfab Limited IPO Reservation

Investor Category	Shares Offered
QIB	14,400 shares (1.04% of Net Issue)
Retail	10,89,600 shares (78.96% of Net Issue)
NII (HNI)	2,76,000 shares (20.00% of Net Issue)
Market Maker	72,800 shares

Vama Wovenfab Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail / Individual (Min)	2	800	₹2,72,800
Retail / Individual (Max)	2	800	₹2,72,800
S-HNI (Min)	3	1,200	₹4,09,200
S-HNI (Max)	7	2,800	₹9,54,800
B-HNI (Min)	8	3,200	₹10,91,200

Vama Wovenfab Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100.00%
Post-Issue	72.00%

Vama Wovenfab Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹22.25
Price/Earnings (P/E) Ratio	15.33x
Return on Net Worth (RoNW)	50.37%
Net Asset Value (NAV)	₹76.80
Return on Equity	50.37%
Return on Capital Employed (ROCE)	31.94%
EBITDA Margin	8.32%
PAT Margin	5.38%
Debt to Equity Ratio	0.89

Objectives of the Proceeds

1. Construction of shed:

₹1.36 crore will support capital expenditure for constructing an additional shed to strengthen manufacturing infrastructure.

2. Purchase of machinery:

₹7.25 crore will fund machinery purchases to enhance production capacity and improve manufacturing capabilities.

3. Working capital requirements:

₹26.50 crore will support working capital needs associated with inventory, receivables and business operations.

4. General corporate purposes:

Remaining proceeds will be utilised for general corporate requirements and other permitted business purposes.

Key Financials (in ₹ crore)

Particulars	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	74.18	67.47	37.14
Revenue / Total Income	214.62	77.76	27.87
Profit After Tax	11.55	6.84	2.63
Reserves and Surplus	24.96	13.41	5.44
Total Borrowings	25.44	16.94	11.17

IPO Strengths

1. On-time and planned delivery.

2. Customised packaging solutions.

3. Skilled and experienced workforce.

4. Established manufacturing capabilities.

5. Strong long-term customer relationships.

6. Focus on product and process improvement.

Peer Group Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹)	P/E (x)	RoNW (%)	P/BV Ratio
Vama Wovenfab Ltd.	30.90	30.90	76.80	—	50.37	—
Peer Group
Aeroflex Neu Ltd.	0.45	0.38	39.08	183.18	1.27	2.10
Kahan Packaging Ltd.	4.30	4.30	40.54	4.53	11.20	0.47