Vedant Poly Fabs IPO
Vedant Poly Fabs IPO Details
-
Open Date
02 Nov 2026
-
Close Date
04 Nov 2026
- IPO Price Range
₹ 88 to ₹94
- IPO Size
₹ 56.68 Cr
Vedant Poly Fabs IPO Timeline
Last Updated: 29 October 2026 5:42 PM by 5paisa
Vedant Poly Fabs Limited is a West Bengal-based manufacturer of flexible packaging materials, supplying customised packaging solutions to business-to-business (B2B) customers across India. The company's products include three-layer and five-layer low-density polyethylene films, shrink films, barrier films, printed laminates, and milk and oil pouches. These products are used in food and beverage packaging and other consumer-product applications.
The company operates an integrated manufacturing facility at Barasat, West Bengal, where its production activities cover film extrusion, printing, lamination, slitting, pouch manufacturing and quality control. Its operations are organised into four product segments: lamination, printed plastic, milk film and shrink film. Vedant Poly Fabs manufactures products according to customer requirements for dimensions, thickness, material composition and printing.
As of 31 March 2026, the company had an operational presence across 11 Indian states. Its manufacturing operations are supported by in-house transportation and logistics capabilities and quality-management systems. The company holds ISO 9001:2015, ISO 22000:2018 and HACCP certifications.
Established in: 2018
Chairman and Managing Director: Pankaj Kumar Maheshwari
Peers:
B&A Packaging India Limited
Barflex Polyfilms Limited
Vedant Poly Fabs Objectives
The company proposes to utilise the net proceeds from the fresh issue towards the following objectives:
1. Funding incremental working capital requirements: Approximately ₹17.59 crore to support inventory, trade receivables and operational requirements arising from business expansion.
2. Repayment or prepayment of borrowings: Approximately ₹8.00 crore towards repayment or prepayment of certain secured and unsecured outstanding borrowings.
3. Capital expenditure: Approximately ₹6.51 crore for purchasing and installing plant and machinery at the company's existing manufacturing facility in Barasat, West Bengal.
4. General corporate purposes: Funding business development, operational expenses and other corporate requirements within applicable regulatory limits.
5. Offer-related expenses: Meeting expenses associated with the IPO, including management, underwriting, legal, regulatory and listing costs.
Vedant Poly Fabs IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹56.68 Cr |
| Offer For Sale | ₹5.67 Cr |
| Fresh Issue | ₹51.01 Cr |
Vedant Poly Fabs IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Individual Investors (IND) (Min) | 2 | 2400 | 211200 |
| Individual Investors (IND) (Max) | 2 | 2400 | 225600 |
| HNI (Min) | 3 | 3600 | 316800 |
| S-HNI (Max) | 8 | 9600 | 902400 |
| B-HNI (Min) | 9 | 10800 | 950400 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 49.53 | 81.02 | 115.14 |
| EBITDA | 1.48 | 8.30 | 19.18 |
| PAT | 0.64 | 4.56 | 10.97 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 18.88 | 55.40 | 97.80 |
| Share Capital | 0.11 | 10.85 | 14.73 |
| Total Liabilities | 18.88 | 55.40 | 97.80 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | -3.46 | -5.74 | -11.46 |
| Net Cash Generated From / (Used In) Investing Activities | -2.52 | -6.66 | -28.65 |
| Net Cash Generated From / (Used In) Financing Activities | 5.85 | 12.77 | 47.16 |
| Net Increase / (Decrease) In Cash And Cash Equivalents | -0.12 | 0.37 | 7.05 |
Strengths
- Integrated manufacturing operations: The company undertakes film extrusion, printing, lamination, slitting and pouch manufacturing within its production operations, allowing greater control over manufacturing processes.
- Diversified packaging portfolio: Its products include multilayer films, shrink films, barrier films, printed laminates, milk films and oil pouches, serving different packaging requirements.
- Established quality-control systems: ISO 9001:2015, ISO 22000:2018 and HACCP certifications support the company's quality-management and food-packaging processes.
- Improving financial performance: Revenue increased from ₹49.53 crore in FY24 to ₹115.14 crore in FY26, while PAT rose from ₹0.64 crore to ₹10.97 crore.
- In-house logistics capabilities: The company's transportation and logistics arrangements support customer deliveries and coordination between manufacturing and distribution activities.
Weaknesses
- Customer concentration: The five largest customers collectively accounted for approximately ₹61.76 crore of revenue in FY26, representing around 53.64% of total revenue. Loss of major customers could materially affect sales.
- Working-capital-intensive operations: The company requires substantial funds for trade receivables and inventory. Operating cash outflows increased to ₹11.46 crore in FY26.
- Increasing borrowings: Total borrowings rose to ₹46.82 crore in FY26 from ₹13.32 crore in FY25, increasing the company's exposure to financing costs and repayment obligations.
- Single manufacturing facility: Production activities are concentrated at the Barasat facility in West Bengal, creating operational concentration risk.
- Regional revenue concentration: A significant portion of revenue is generated from eastern India, exposing the company to changes in regional demand and customer activity.
Opportunities
- Expansion of India's flexible packaging market: The industry projections included in the draft prospectus indicate continued growth in flexible packaging demand through 2030.
- Additional manufacturing machinery: Proposed investments in plant and machinery at the Barasat facility could improve manufacturing capabilities and support a wider product offering.
- Increasing demand for packaged consumer products: Growth in food, beverages and other packaged consumer-product categories may support demand for flexible packaging.
- Expansion across customer industries: Its product portfolio and custom-manufacturing model provide scope to serve additional customers and packaging applications.
- Improved material utilisation: Investment in production technologies and reprocessing capabilities could support operational efficiency and material recovery.
Threats
- Raw-material price volatility: The company depends on inputs including LDPE granules, metallocene plastic granules and polyester films. Price fluctuations may affect manufacturing costs and margins.
- Supplier-related disruptions: Interruptions in raw-material supplies could delay production and affect the company's ability to fulfil customer orders.
- Competitive market conditions: The flexible packaging industry includes manufacturers competing on pricing, quality, delivery reliability and customisation.
- Environmental and regulatory requirements: Changes in plastic packaging regulations, waste-management obligations and related compliance requirements may affect production processes and costs.
- Collection and liquidity risks: Delays in recovering trade receivables, particularly from significant customers, could increase working-capital requirements and pressure cash flows.
- Established presence in flexible packaging: Vedant Poly Fabs manufactures multiple categories of flexible packaging materials for food, beverages and other consumer products.
- Revenue and profit growth: Revenue increased from ₹49.53 crore in FY24 to ₹115.14 crore in FY26, while PAT rose from ₹0.64 crore to ₹10.97 crore over the same period.
- Integrated production capabilities: The company's manufacturing processes cover extrusion, printing, lamination, slitting and pouch production, supporting customised packaging requirements.
- Exposure to industry expansion: The Indian flexible packaging market is projected in the company's industry disclosures to grow at a CAGR of 11.46% between 2025 and 2030.
- Defined utilisation of fresh-issue proceeds: The company proposes to allocate approximately ₹17.59 crore towards incremental working capital, ₹8 crore towards repayment of borrowings and ₹6.51 crore towards manufacturing-related capital expenditure.
India's packaging industry is expected to benefit from changes in consumer purchasing patterns, increasing demand for packaged food and beverages, and the expansion of organised manufacturing and distribution channels.
The industry information presented in Vedant Poly Fabs' draft prospectus estimates India's packaging market at approximately USD 101.12 billion in 2025, with a projected increase to USD 169.73 billion by 2030, representing a CAGR of 10.73%.
Within the broader industry, India's flexible packaging market was estimated at USD 20.41 billion in 2025 and is projected to reach approximately USD 35.11 billion by 2030, reflecting an estimated CAGR of 11.46%.
Flexible packaging products are used in applications requiring product protection, moisture resistance, printability, convenient handling and efficient transportation. Multilayer films, barrier films and printed laminates are among the materials used to address these requirements.
Vedant Poly Fabs participates in this market through its manufacturing of multilayer plastic films, laminated packaging and customised pouch solutions. Its operations across 11 Indian states provide an existing customer and distribution base.
The company's proposed investment in manufacturing machinery and incremental working capital could support its ability to address additional demand. However, growth will depend on capacity utilisation, customer retention, raw-material costs and the management of working-capital requirements.
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FAQs
Vedant Poly Fabs IPO is scheduled to open on 2 November 2026 and close on 4 November 2026.
The Vedant Poly Fabs IPO is reported to be approximately ₹56.68 crore.
The price band of Vedant Poly Fabs IPO is reported at ₹88 to ₹94 per equity share.
To apply for the Vedant Poly Fabs IPO through 5paisa:
1. Login to your 5paisa demat account and select Vedant Poly Fabs IPO under the current IPO section.
2. Enter the number of lots and the price at which you wish to apply.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. Approve the mandate notification received through your UPI application to block the required funds.
The minimum application size is 2,400 shares, comprising two lots of 1,200 shares each. At the floor price of ₹88 per share, the minimum investment is ₹2,11,200.
The basis of allotment for Vedant Poly Fabs IPO is expected to be finalised on 5 November 2026.
Vedant Poly Fabs IPO is tentatively scheduled to list on NSE Emerge, the SME platform of the National Stock Exchange, on 9 November 2026.
Affinity Global Capital Market Private Limited is the book-running lead manager for Vedant Poly Fabs IPO.
The company proposes to utilise the fresh-issue proceeds towards:
1. Funding incremental working-capital requirements of approximately ₹17.59 crore.
2. Repayment or prepayment of certain outstanding borrowings amounting to approximately ₹8.00 crore.
3. Purchasing and installing plant and machinery at its existing manufacturing facility, involving approximately ₹6.51 crore.
4. General corporate purposes.
5. Meeting offer-related expenses.
The company will not receive proceeds from the Offer for Sale component.