Vedant Poly Fabs SME IPO opens today on NSE SME platform
The Rs 56.68 crore issue has a grey market premium of approximately 16 per cent.
Vedant Poly Fabs is opening its initial public offering (IPO) for subscription today, November 2, on the NSE SME platform, according to The Economic Times. The book-built issue is worth Rs 56.68 crore and will remain open until November 4, 2026.
The offering consists of a fresh issue of 54.26 lakh equity shares worth Rs 51.01 crore and an offer for sale (OFS) of 6.04 lakh shares worth Rs 5.67 crore. The company has fixed a price band of Rs 88–94 per share with a lot size of 1,200 shares.
Retail investors must apply for at least two lots, or 2,400 shares, costing Rs 2,25,600 at the upper price band. High-net-worth individual (HNI) investors require a minimum application of three lots, or 3,600 shares, amounting to Rs 3,38,400.
The company plans to use the net proceeds to meet incremental working capital requirements of Rs 24.61 crore, repay Rs 8 crore in borrowings, and allocate Rs 6.51 crore for capital expenditure. Remaining funds will go toward general corporate purposes and issue-related expenses.
The grey market premium (GMP) is currently around Rs 15 per share, or 16 per cent, over the upper price band. The basis of allotment is expected to be finalised on November 5, with shares tentatively scheduled to list on November 9.
Incorporated in December 2018, Vedant Poly Fabs manufactures flexible packaging materials such as LD films and printed laminates for the food and beverage industry. Affinity Global Capital Market Pvt. Ltd. is the book-running lead manager for the issue.