Vandan Foods IPO Subscribed 1.75x on Final Day, Sees Mild Pickup in Demand

Vandan Foods' initial public offering (IPO) has demonstrated moderate investor demand through its third and final day of subscription, with Vandan Foods' stock price set at ₹115 per share reflecting cautious market reception. The ₹30.36 crore IPO reached 1.75 times by 5:04:32 PM on day three, indicating measured investor interest in this refined castor oil and castor oiled cake manufacturing company incorporated in 2015.

Vandan Foods IPO retail investors segment leads with solid 3.09 times subscription, whilst non-institutional investors demonstrate limited participation at 0.41 times, reflecting mixed investor confidence in this company manufacturing refined F.S.G. castor oil and castor de-oiled cake serving B2B and B2C markets across Gujarat, Haryana, Andhra Pradesh, Delhi, Bihar, Rajasthan, and Telangana through manufacturing facilities located in Dhinoj Patan, Gujarat with emphasis on quality control and inventory management.

Vandan Foods IPO subscription reached a moderate 1.75 times on day three, led by Retail (3.09x) and NII (0.41x). Total applications reached 3,434.

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Subscription Status of Adcounty Media India IPO:

Here are the subscription details for Vandan Foods IPO as of Day 3 (July 2, 2025, 5:04:32 PM):

Key Highlights - Day 3:

• Overall subscription reaching a moderate 1.75 times, improving from day two's 0.81 times
• Retail segment leading with solid demand at 3.09 times, building significantly from day two's 1.52 times
• NII segment showing limited participation at 0.41 times, improving from day two's 0.10 times
• The final day witnessed steady retail participation driving overall subscription performance
• Total applications reached 3,434, indicating limited investor participation for this SME IPO
• The cumulative bid amount reached ₹50.45 crores against the issue size of ₹30.36 crores

Vandan Foods IPO - Day 2 Subscription at 0.81 Times

Key Highlights - Day 2:

• Overall subscription improving to 0.81 times from day one's 0.27 times
• Retail segment showing strong growth at 1.52 times, building momentum from day one's 0.55 times
• NII segment demonstrating minimal participation at 0.10 times, slightly increasing from day one's 0.00 times
• Day two demonstrated building retail confidence with limited institutional response

Vandan Foods IPO - Day 1 Subscription at 0.27 Times

Key Highlights - Day 1:

• Overall subscription opening cautiously at 0.27 times, showing modest initial investor interest
• Retail segment leading early participation at 0.55 times, indicating measured individual investor confidence
• NII segment demonstrating no participation at 0.00 times, indicating reserved high-net-worth sentiment
• Opening day demonstrated limited initial engagement with retail interest leading

About Vandan Foods Limited

Incorporated in 2015, Vandan Foods Limited manufactures refined F.S.G. castor oil and castor de-oiled cake through facilities in Dhinoj Patan, Gujarat. The company operates B2B and B2C models, supplying products across seven states with focus on quality control and inventory management. The company produces refined castor oil for lubricants, paints, pharmaceuticals, and textiles, whilst castor de-oiled cake serves as natural fertilizer, employing 16 permanent personnel as of December 2024.

Financial performance shows exceptional growth with revenue increasing 49% from ₹48.73 crores in FY2024 to ₹72.66 crores in nine months ended December 2024, whilst profit after tax rose 72% to ₹4.54 crores. The company maintains strong profitability metrics with 45.41% ROE, 37.33% ROCE, and 7.48% EBITDA margin.