Vama Wovenfab IPO GMP, Date, Price Band & Review

Vama Wovenfab IPO Details

Vama Wovenfab IPO is a book-built SME issue of ₹49.54 crore, consisting entirely of a fresh issue of 14.53 lakh equity shares with a face value of ₹10 each. There is no offer-for-sale component. The equity shares are proposed to be listed on the BSE SME platform.

The price band of the issue is set at ₹324–₹341 per share and the lot size for an application is 400 shares. The minimum amount of investment required by an individual investor is ₹2,72,800 for 800 shares, or two lots, at the upper price band. The IPO will be open for subscription from September 15 to September 17, 2026, with a tentative listing date fixed as September 22, 2026, on the BSE SME platform.

Gretex Corporate Services Limited is the book-running lead manager and Maashitla Securities Private Limited is the registrar to the issue. Nikunj Stock Brokers Limited is the market maker for the IPO.

Vama Wovenfab IPO Date & Timeline

The Vama Wovenfab IPO is officially set to open for subscription on September 15, 2026 and will close on September 17, 2026. The RHP filing and IPO schedule were disclosed by Gretex Corporate Services on September 8, 2026.

Once the subscription window closes, the basis of allotment is expected to be finalised on September 18, 2026. The company is expected to initiate refunds and credit equity shares to successful investors’ demat accounts on September 21, 2026. Finally, shares of Vama Wovenfab Limited are tentatively scheduled to list on BSE SME on September 22, 2026.

Vama Wovenfab IPO GMP

“Grey Market Premium” or GMP is defined as the rate at which IPO shares are traded in the unofficial and unregulated market before they are officially listed on the stock exchange.

The Vama Wovenfab IPO GMP is currently trading at ₹0, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹341, which is 0.00% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Vama Wovenfab Limited manufactures polypropylene, or PP and high-density polyethylene, or HDPE, woven sacks and fabric-based packaging products. The company caters primarily to B2B manufacturers, traders and industrial customers that require packaging solutions for bulk storage, handling and transportation.

The company’s manufacturing operations commenced in 2013 at its facility in Nani Daman, Daman and Diu. Its registered manufacturing address is at Survey No. 162/4, 6, 7 and 9, Coastal Highway, Bhimpore, Nani Daman, Daman – 396210.

Vama Wovenfab’s core products are PP and HDPE woven bags and woven fabrics. These products are used in packaging and transporting food grains, sugar, fertilisers, chemicals, cement and other bulk materials. The company also trades in plastic granules, which are a key raw material for woven packaging products.

Operations & Product Range

Vama Wovenfab Limited manufactures woven packaging products and related fabric-based solutions. Its product portfolio includes PP woven bags, HDPE woven bags, woven fabrics, BOPP bags, coloured woven fabric sheets, loop-handle bags and HDPE trampoline products.

PP and HDPE woven bags are generally used in the packaging, storage and movement of bulk materials. BOPP bags are laminated or printed woven bags used where better presentation, printing quality and product visibility are required. Woven fabrics can be supplied for further conversion into bags or used in other industrial packaging applications.

The company also trades in plastic granules. This activity can help it serve customer requirements and support raw-material sourcing for its manufacturing operations. Its product mix is exposed to demand from agriculture-linked, industrial, construction and chemicals-related sectors.

Facilities & Capacity

Vama Wovenfab Limited operates its manufacturing facility at Nani Daman. The facility is used for the production of PP and HDPE woven bags, woven fabrics and related packaging products. The company’s manufacturing activities require stable availability of polymer granules, electricity, labour, production machinery and quality-control processes.

As of April 30, 2026, the company had 94 employees. Its operations are supported by in-house quality-control processes and power infrastructure. The company has proposed to utilise a portion of the IPO proceeds to construct a shed and purchase machinery, which is expected to support manufacturing infrastructure and production capability.

The company has disclosed that it supplied more than two crore PP fertiliser bags and generated approximately ₹40 crore in sales during FY2018. It also produced nearly one crore BOPP bags in 2024. These operating figures indicate prior manufacturing experience, although investors should focus on the most recent financial statements, current utilisation levels and customer demand while evaluating the IPO.

Brands & Market Presence

Vama Wovenfab operates in the industrial and bulk-packaging market. Its woven sacks and fabric-based packaging products are used by customers across sectors such as food grains, sugar, fertilisers, chemicals and cement.

The company is primarily B2B-focused. Its market position depends on its ability to offer consistent product quality, meet volume requirements, procure polymer raw materials competitively, maintain delivery schedules and manage customer relationships. Its Daman manufacturing location provides access to industrial markets in western India, although the company’s sales reach and customer concentration should be assessed from the final RHP.

Revenue Streams & Business Model

Vama Wovenfab Limited generates revenue mainly from the manufacture and sale of woven packaging products. Its key revenue streams include the sale of PP woven bags, HDPE woven bags, BOPP bags, woven fabrics, coloured woven fabric sheets, loop-handle bags and other packaging products.

The company also generates revenue from trading in plastic granules. Polymer granules are a core input for PP and HDPE woven products and trading may allow the company to meet external customer demand as well as manage material availability for its own manufacturing operations.

The business model relies on the procurement of PP and HDPE granules, the conversion of these materials into woven packaging products, product-quality maintenance and sales to B2B customers. Revenue and margins can be affected by polymer-price volatility, customer concentration, demand from agriculture and industrial sectors, working-capital requirements, competition from organised and unorganised packaging manufacturers, capacity utilisation and receivable collection.

Financial Performance

Vama Wovenfab Limited has reported rapid growth in revenue over the three most recent financial years. Revenue increased from ₹27.87 crore in FY2024 to ₹77.45 crore in FY2025 and ₹214.62 crore in FY2026. Profit after tax increased from ₹2.63 crore in FY2024 to ₹6.84 crore in FY2025 and ₹11.54 crore in FY2026.

EBITDA rose from ₹5.11 crore in FY2024 to ₹10.36 crore in FY2025 and ₹17.85 crore in FY2026. However, the EBITDA margin declined from 18.32% in FY2024 to 13.38% in FY2025 and 8.32% in FY2026, indicating that the pace of revenue growth exceeded the growth in operating profitability.

The company reported return on net worth, or RoNW, of 50.37% and return on capital employed, or ROCE, of 31.94% in FY2026. The debt-to-equity ratio stood at 0.89 times in FY2026, compared with 0.99 times in FY2025 and 1.23 times in FY2024.

Management & Shareholding

The promoters of Vama Wovenfab Limited are Mr. Suresh Mohanlal Gupta, Mr. Vaibhav Suresh Gupta, Mr. Saurabh Suresh Gupta and Mrs. Nisha Vaibhav Gupta. The IPO is entirely a fresh issue of 14.53 lakh equity shares; therefore, no promoter or other existing shareholder will sell equity shares through an offer for sale.

Before the IPO, the promoter and promoter group held 100% of the company’s pre-issue equity share capital. Following the fresh issue, their holding is expected to reduce to 72% of the post-issue equity share capital. Public shareholding is expected to be 28% after the IPO. The dilution results entirely from the fresh issue, as there is no offer-for-sale component.

Board & Key Management

The publicly available RHP summaries identify Mr. Vaibhav Suresh Gupta as a promoter and Chief Financial Officer. The promoter group also includes Mr. Suresh Mohanlal Gupta, Mr. Saurabh Suresh Gupta and Mrs. Nisha Vaibhav Gupta.

The Board of Directors and senior management are responsible for business strategy, polymer procurement, manufacturing, product quality, customer relationships, sales, finance, working-capital management, compliance and corporate governance. The full final RHP should be consulted for the complete names and designations of executive directors, independent directors, the Company Secretary and other key managerial personnel before publication.