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Vandan Foods IPO
Price Band
₹
Issue Size
₹30.36 Cr
Lot Size
1,200 shares
Min Investment
₹138,000
GMP
—
Issue Price
₹115.0
Vandan Foods IPO AI Summary
- Vandan Foods IPO is listed on BSE SME in the Edible Oil sector.
- Subscription window: 30 Jun–02 Jul 2025, listing on 07 Jul 2025.
Vandan Foods Limited is an SME engaged in the production of Refined F.S.G. Castor Oil and Castor Oiled Cake, with a strong emphasis on quality and customer satisfaction. The company has shown significant revenue and profit growth in recent years, and the IPO aims to raise ₹30.36 Cr for various business needs.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Vandan Foods IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 02 Jul 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Vandan Foods IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 2015, Vandan Foods Limited is engaged in the manufacturing of Refined F.S.G. Castor Oil and Castor Oiled Cake. The company operates as both B2B and B2C models; the company emphasizes quality control, inventory management, and business development to ensure customer satisfaction. The company supplies its products across Gujarat, Haryana, Andhra Pradesh, Delhi, Bihar, Rajasthan, and Telangana. Its manufacturing facilities are located in Dhinoj Patan, Gujarat, at two specific addresses. Products: Refined Castor Oil First Stage Grade (F.S.G.): The company produces F.S.G. Castor Oil, a refined, bleached oil used in lubricants, paints, pharmaceuticals, textiles, and more. It also offers health benefits like relieving constipation and promoting hair and skin growth. Castor De-Oiled Cake: The company produces Castor De-Oil Cake, a natural fertilizer rich in nitrogen, phosphoric acid, and potash. It promotes soil microbial activity and serves as an effective alternative to chemical fertilizers. As of December 31, 2024, the company has 16 permanent employees. Competitve Strengths: Experienced Promoters and Management Team Quality Control and Quality Assurance Diversified business model and customer base Scalable Business Model Smooth flow of operations Optimal Utilization of Resources
Company Financials (₹ Cr)
As of 2024-12-31
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 31.69 | 12.12 | 4.74 | 4.20 |
| Total Income | 72.66 | 48.73 | 11.59 | 1.61 |
| Profit After Tax | 4.54 | 2.64 | 0.64 | -0.11 |
| EBITDA | 6.92 | 3.65 | 0.99 | -0.08 |
| NET Worth | 14.01 | 9.47 | 2.18 | -0.05 |
| Reserves and Surplus | 8.26 | 6.60 | 2.04 | -0.06 |
| Total Borrowing | 13.89 | 0.39 | 3.45 |
Key Ratios
EPS
₹4.60
NAV
₹16.62
ROE
45.41%
ROCE
37.33%
RoNW
27.92%
P/B Value
6.92
P/E Ratio
24.98
Market Cap
₹96.43 Cr
PAT Margin
5.43%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Jayant Agro-organics Ltd. | 181.07 | 10.12% | 17.24 | 17.59 | 17.59 |
| N.k.industries Ltd. | -572.66 | 0.34% | — | -1.71 | -1.71 |
| Vandan Foods Limited This IPO | 16.62 | 27.92% | 24.78 | 4.64 | 4.64 |
Promoters
Kalpeshkumar Bhagavandas Thakkar, Rakeshkumar Rameshbhai Patel, Jitendra Rameshbhai Patel, Jyotsana Jitendrabhai Patel and Kalpesh Kumar Thakkar (HUF)
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To meet working capital requirements 8.57 2 Prepayment or Repayment of all or a portion of certain outstanding borrowings availed by the Company 3.00 3 Funding the capital expenditure requirement for expansion of the Dhinoj Facility (CAPEX) 8.29 4 General Corporate Purposes 7.51 5 Issue Expenses 2.99 Total 30.36
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1.61 Cr in the year ending March 31, 2022, rising to ₹11.59 Cr by March 31, 2023. This continued to grow to ₹48.73 Cr in the year ending March 31, 2024, and reached ₹72.66 Cr by December 31, 2024.
Profit Trend
Profit After Tax was a loss of ₹0.11 Cr in the year ending March 31, 2022, improving to a profit of ₹0.64 Cr by March 31, 2023. The profit further increased to ₹2.64 Cr in the year ending March 31, 2024, and reached ₹4.54 Cr by December 31, 2024.
Valuation
At the issue price of ₹115.0, Vandan Foods Limited has an implied P/E ratio of 24.78, compared to peers trading in a range of 17.24 to -1.71.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial market where IPO shares are traded before they are listed on the stock exchange. It reflects the demand for an IPO and can indicate potential listing gains.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk appetite. It's essential to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors with a low-risk tolerance or those seeking immediate returns may want to approach this IPO with caution, as the market can be unpredictable.
IPO Timeline, Explained
The IPO opens for subscription on June 30, 2025, and closes on July 2, 2025. Allotment of shares will be done on July 3, 2025, with the listing date set for July 7, 2025.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by various factors including market conditions, investor sentiment, and the company's performance post-IPO. It's important to be aware that gains on the listing day are not guaranteed.
This evaluation is generated from Vandan Foods's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
When does Vandan Foods IPO open and close?
Vandan Foods IPO opens on 30 June 2025 and closes on 02 July 2025.
When does Vandan Foods IPO list on the stock exchange?
Vandan Foods IPO listed on 07 July 2025 at ₹115.0.
What is the lot size for Vandan Foods IPO?
The lot size for Vandan Foods IPO is 1200 shares, requiring a minimum investment of ₹138,000.
What is the lot size for Vandan Foods IPO?
The lot size for Vandan Foods IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required is ₹138,000.
When does the IPO open and close?
The IPO opens on June 30, 2025, and closes on July 2, 2025.
What is the issue price of the IPO?
The issue price of the IPO is ₹115.0.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
30 Jun 2025
Close
02 Jul 2025
Allotment
03 Jul 2025
Listing
07 Jul 2025
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