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Vandan Foods Limited IPO
The Initial Public Offering (IPO) of Vandan Foods Limited is being listed on the BSE SME. 26,40,000 equity shares, or 30.36 crores, would be issued during the IPO. The IPO does not include an offer for sale component. With a face value of ₹10, the IPO is priced at ₹115 per share. On June 30, 2025, the IPO will begin and on July 2, 2025, it will conclude. Retail investors must apply with a minimum of ₹1,38,000 in funds and the lot size is 1,200 shares. The date of listing is tentatively set on July 7, 2025.
Company Background
Vandan Foods Limited is a privately owned company that was incorporated in December 2015 and it was converted to a publicly owned company in September 2023. The company started with offering catering services, later moved to trading agro commodities and since FY2024, it is engaged in the production of castor oil and its derivatives. It is ISO certified and has shown a great increase in revenues over the last few years.
Operations & Product Range
Facility & Production:
Vandan Foods has two manufacturing plants in Dhinoj Patan, Gujarat. The plants are equipped with oil expellers, a solvent extraction plant and sophisticated bleaching and filtering facilities to successfully produce refined castor oil and its derivatives.
Brands & Market Presence:
The company manufactures:
- Refined Castor Oil First Stage Grade (F.S.G.): Applied in lubricants, paints, pharmaceuticals, textiles, cosmetics and food grain preservation.
- Castor De-Oiled Cake (DOC): An organic fertilizer rich in nitrogen, phosphoric acid and potash, which is an environment-friendly substitute to chemical fertilizers.
Vandan Foods distributes its products in Gujarat, Haryana, Delhi, Bihar, Rajasthan, Telangana and Andhra Pradesh while serving both B2B and B2C customers.
Revenue Channels
The primary sources of income for Vandan Foods are the manufacturing and distribution of refined castor oil and castor de-oiled cake. The firm has a wide range of customers in various industries such as agriculture, lubricants, pharmaceuticals, cosmetics and food processing. Its customer base and diversified business model have also made it grow robust revenues.
Management & Shareholding
Promoters & Shareholding:
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. They hold a total of 96.94 percent of the company before the issue and will drop to 66.42 percent after the issue.
Board Members:
The board consists of the above three promoters who each have certain expertise in agriculture, production and business management.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Vandan Foods Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Vandan Foods Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 30, 2025 to July 2, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price | ₹115 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 26,40,000 shares (aggregating up to ₹30.36 Cr) |
| Reserved for Market Maker | 1,32,000 shares (aggregating up to ₹1.52 Cr) |
| Net Offered to Public | 25,08,000 shares (aggregating up to ₹28.84 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 57,44,800 shares |
| Share Holding Post Issue | 83,84,800 shares |
Vandan Foods Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Mon, Jun 30, 2025 |
| IPO Close Date | Wed, Jul 2, 2025 |
| Tentative Allotment | Thu, Jul 3, 2025 |
| Initiation of Refunds | Fri, Jul 4, 2025 |
| Credit of Shares to Demat | Fri, Jul 4, 2025 |
| Tentative Listing Date | Mon, Jul 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 2, 2025 |
Vandan Foods Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹1,38,000 |
| Retail (Max) | 1 | 1200 | ₹1,38,000 |
| HNI (Min) | 2 | 2,400 | ₹2,76,000 |
Vandan Foods Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 96.94% |
| Share Holding Post Issue | - |
Competitive Strength:
- ● Experienced promoters and a management team having expertise in the sector.
- ● Strong quality control and ISO certified processes.
- ● Product diversity with products serving different industries decreases concentration risk.
- ● Resource-efficient and scalable business model.
- ● Strong customer relations and customer loyalty.
- ● Maximum use of resources and emphasis on the reduction of wastage.
Vandan Foods Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2024 | 31.69 | 72.66 | 4.54 | 14.01 | - | 13.89 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 12.12 | 48.73 | 3 | 9.47 | - | - | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 4.74 | 11.59 | 0.64 | 2.18 | - | 0.39 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 4.2 | 1.61 | -0.11 | -0.05 | - | 3.45 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 45.41% |
| ROCE | 37.33% |
| RoNW | 27.92% |
| EBITDA Margin | 7.48% |
| Price to Book Value | 6.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.6 | 7.21 |
| P/E (x) | 24.98 | 15.94 |
IPO Objectives
The primary objectives of the IPO are:
- Funding working capital requirements.
- Supporting general corporate purposes.
- Strengthening the company’s balance sheet to facilitate future growth and expansion.
Conclusion
The IPO of Vandan Foods Limited provides investors with a chance to invest in a growing agro-processing company with a diversified product portfolio and a growing market presence. The shift of the company towards manufacturing and good revenue growth, coupled with emphasis on quality and scalability, makes the company well-positioned to expand in the future. But like any SME IPO, investors are advised to look at the risks and refer to the RHP to get detailed financials before applying.
Vandan Foods Limited Prospectus
RHP:
View RHPDRHP:
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Read More IPO ReviewsFrequently Asked Questions (FAQs)
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1. What are the Vandan Foods IPO dates?
The initial public offering (IPO) will start on June 30, 2025 and close on July 2, 2025.
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2. How big is the IPO lot and how much does it cost?
With a minimum lot size of 1,200 shares, the IPO is priced at $115 a share.
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3. What is the Vandan Foods IPO's total issue size?
The IPO, which includes a new issue of 26,40,000 shares, is worth 30.36 crores.
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4. Where will the shares be listed?
The stocks will be listed on the BSE SME platform on July 7, 2025.
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5. What are the major products of Vandan Foods?
The company produces Castor De-Oiled Cake and Refined Castor Oil (F.S.G.).
