June 25, 2025
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What is the last grey market premium of Vandan Foods IPO?
Listing Review: Will update on listing.
Subscription status of Vandan Foods IPO
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Vandan Foods IPO (Day 1) |
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| QIB | NII x | RII x | Total x | Applications |
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Vandan Foods IPO Allotment Link:
What is the business of Vandan Foods?
Incorporated in 2015, Vandan Foods Limited is engaged in the manufacturing of Refined First Special Grade (F.S.G.) Castor Oil and Castor De-Oiled Cake—essential products with applications across industrial and agricultural sectors.
Manufacturing & Business Model
Operating under a dual B2B and B2C model, the company places a strong emphasis on:
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Quality control
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Efficient inventory management
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Strategic business development
Its manufacturing operations are based in Dhinoj, Patan (Gujarat), across two facilities, enabling streamlined production and regional distribution.
Market Reach
Vandan Foods supplies its products to a growing network across Gujarat, Haryana, Andhra Pradesh, Delhi, Bihar, Rajasthan, and Telangana, meeting demand from industrial users, agricultural businesses, and end consumers alike.
Key Products
1. Refined Castor Oil (F.S.G.)
A high-grade, refined and bleached castor oil widely used in:
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Industrial applications (lubricants, paints, textiles, etc.)
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Pharmaceuticals and personal care products
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Health remedies – known for its natural laxative properties and benefits for hair and skin
2. Castor De-Oiled Cake
An organic by-product used as a natural fertilizer, rich in nitrogen, phosphoric acid, and potash. It enhances soil health and promotes microbial activity—an eco-friendly alternative to synthetic fertilizers.
Workforce
As of December 31, 2024, Vandan Foods employs 16 permanent staff members, supporting its streamlined operations and commitment to quality delivery.
Vandan FoodsIPO Details
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Sector: |
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| IPO opens on | 30 June 2025 |
| IPO closes on | 2 July 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2640000 Shares / Rs 30.36 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – Shares/ Rs.? Crore |
| Market Maker Portion | 132000 Shares |
| Net offer to Public | 2508000 Shares Rs.28.84 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 115 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
| Investor Category | Shares Offered | % | Rs. |
| Market Maker | 132000 | 5.00 | |
| QIB Shares | – | ||
| NII (HNI) | 1254000 | 47.50 | |
| Retail | 1254000 | 47.50 | |
| Total | 2640000 | 100 | |
| Application | Lots | Shares | Amount, Rs. |
| Retail (Min) | 1 | 1200 | 1,38,000 |
| Retail (Max) | 1 | 1200 | 1,38,000 |
| HNI (Min) | 2 | 2,400 | 2,76,000 |
Who are the Promoters of Vandan Foods?
Mr. Kalpeshkumar Bhagavandas Thakkar, Mr. Rakeshkumar Rameshbhai Patel, Mr. Jitendra Rameshbhai Patel, Mrs. Jyotsana Jitendrabhai Patel, and Kalpesh Kumar Thakkar HUF are the promoters of the company.
What are the Objects of Vandan Foods IPO?
*To Meet Working Capital Requirements
*Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company
*Funding the capital expenditure requirement for expansion of the Dhinoj Facility (CAPEX)
*General Corporate purposes
Vandan Foods IPO Timetable
Tentative timetable |
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| IPO opens on | 30 June 2025 |
| IPO Closes on | 2 July 2025 |
| IPO Allotment on | 3 July 2025 |
| Refund Initiation | 4 July 2025 |
| Credit of Shares | 4 July 2025 |
| Listing on | 7 July 2025 |
| Registered Office of the Company Vandan Foods Limited 503/B, Wall Street-1, Opp Orient Club, Nr. Rly. Crossing, Ellisbridge Ahmedabad, Gujarat, 380006 |
| The Lead Manager of this IPO Nirbhay Capital Services Pvt ltd |
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Who is the Registrar to IPO? Bigshare Services ltd |
Vandan Foods IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Vandan Foods Financials
| Period Ended | 31-Dec-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 31.69 | 12.12 | 4.74 | 4.2 |
| Revenue | 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 | 6.6 | 2.04 | -0.06 |
| Total Borrowing | 13.89 | 0.39 | 3.45 | |
| Amount in Rs. Crore | ||||
Performance Indicators
| KPI | Values |
| ROE | 45.41% |
| ROCE | 37.33% |
| RoNW | 27.92% |
| EBITDA Margin | 7.48% |
| Price to Book Value | 6.92 |
| EPS | 4.60% |
| PE Ratio | 24.98% |
How Vandan Foods IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Vandan Foods Limited | 24.78 | 27.92 |
| N.K. Industries | 0.34 | |
| Jayant Agro-organics Ltd. | 17.24 | 10.12 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Vandan Foods IPO Review by Paresh Gordhandas, CA & Research Analyst.
Incorporated in 2015, Vandan Foods Limited is engaged in the manufacturing of Refined First Special Grade (F.S.G.) Castor Oil and Castor De-Oiled Cake—essential products with applications across industrial and agricultural sectors.
The company has shown sharp surge in the net profits during 202324. The company has Inventory of Rs. 14.74 crore and receivable of Rs. 1.77 crore on the Revenue of Rs. 72.66 crore during first 9 months of 202425.
Analyst View:
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Fundamental Perspective: S0-so
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Grey Market Sentiment: [Pending]
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