Vaibhav Vyapaar IPO
Vaibhav Vyapaar IPO is a SME issue of ₹42.1 Cr (Fresh capital only). The price band is ₹51–54 per share with a lot of 2,000 shares (₹1,08,000 minimum). Bidding runs 13–15 Oct, allotment is on 16 Oct 2026 and listing on 21 Oct 2026 on NSE SME. The latest grey market premium is ₹0 (0.00%), updated 14 Oct 2026, 03:00 PM IST. The issue has been subscribed 0.25x overall.
IPO details
| Detail | Value |
|---|---|
| Price band | ₹51–54 |
| Lot size | 2,000 shares |
| Minimum investment | ₹1,08,000 |
| Issue size | ₹42.1 Cr |
| Issue type | Fresh capital only |
| Face value | ₹5 per share |
| Listing on | NSE SME |
| Issue price | ₹54 |
Subscription status
| Category | Subscribed |
|---|---|
| Qualified institutions (QIB) | 0.00x |
| Non-institutional (NII) | 0.34x |
| Retail | 0.34x |
| Employees | 0.00x |
Updated 14 Oct 2026, 02:00 PM IST
IPO dates
| Event | Date |
|---|---|
| Bidding opens | 13 Oct 2026 |
| Bidding closes | 15 Oct 2026 |
| Allotment | 16 Oct 2026 |
| Refunds | 19 Oct 2026 |
| Shares credited to demat | 19 Oct 2026 |
| Listing | 21 Oct 2026 |
Lot size and application amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,08,000 |
| Retail (Max) | 1 | 2,000 | ₹1,08,000 |
| HNI (Min) | 2 | 4,000 | ₹2,16,000 |
About Vaibhav Vyapaar
Vaibhav Vyapaar Limited was incorporated in February 2009 and is a non-banking finance company (NBFC). It gives unsecured personal loans to salaried and self-employed borrowers under the LoanFront brand, entirely through a mobile app. The app handles the full loan journey: application, customer verification, due diligence, underwriting, documents, disbursal and repayment. The company lends directly and also through co-lending with other NBFCs. It earns extra fees by giving application and technology services to other NBFCs. Its borrowers include first-time borrowers and lower-income salaried people in urban and semi-urban India. CapFront Technologies Private Limited acquired the company in October 2019, and it has run the digital lending business for the last six years. As on 31 July 2026 it had 56 employees, of whom 17 work in technology, 11 in operations and 11 in risk.
Vaibhav Vyapaar financials
| ₹ crore | 31 Jul 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 96.16 | 84.23 | 55.04 | 61.18 |
| Total Income | 18.15 | 37.64 | 25.34 | 25.46 |
| Profit After Tax | 3.01 | 1.97 | 1.48 | 0.45 |
| EBITDA | 7.51 | 10.84 | 7.07 | 5.38 |
| NET Worth | 47.20 | 29.19 | 27.22 | 25.74 |
| Reserves and Surplus | 37.00 | 21.14 | 23.19 | 21.71 |
| Total Borrowing | 37.90 | 46.80 | 22.66 | 26.76 |
Key ratios
| Ratio | Value |
|---|---|
| P/E Ratio | 16.25 |
| EPS (₹) | 3.20 |
| RoE | 7.87% |
| RoCE | 12.44% |
| RoNW | 6.37% |
| PAT Margin | 16.70% |
| EBITDA Margin | 41.72% |
| Debt / Equity | 0.80 |
| NAV (₹) | 23.15 |
Strengths
- Total income rose from Rs 25.34 crore in FY2025 to Rs 37.64 crore in FY2026, a rise of 48%.
- Profit after tax rose from Rs 0.45 crore in FY2024 to Rs 1.48 crore in FY2025 and Rs 1.97 crore in FY2026. For the four months to 31 July 2026 it was Rs 3.01 crore.
- EBITDA was Rs 10.84 crore in FY2026 on income of Rs 37.64 crore, and the PAT margin for the four months to 31 July 2026 was 16.70%.
- Net worth grew from Rs 25.74 crore at 31 March 2024 to Rs 47.20 crore at 31 July 2026, and debt to equity fell from 1.60 to 0.80 over the last four months.
- The issue is priced at 16.25 times post issue earnings on an EPS of Rs 3.20 at the upper band of Rs 52, against 53.61 times on a pre issue EPS of Rs 0.97.
- The whole Rs 40.54 crore issue is fresh capital, with no offer for sale. Rs 32.00 crore of the net proceeds is to add to the capital base for lending.
- The company lends directly and through co-lending, and also earns technology service fees from other NBFCs, so its income has more than one source.
Risks
- The latest figures cover only four months to 31 July 2026. The post issue EPS of Rs 3.20 is based on annualised earnings for that short period, so it may not hold for a full year.
- The source page quotes a net worth of Rs 471.96 crore and assets under management of Rs 812.41 crore in its text. These do not match the restated table, which shows net worth of Rs 47.20 crore and total assets of Rs 96.16 crore, so those two figures should not be relied on.
- Net worth rose from Rs 29.19 crore at 31 March 2026 to Rs 47.20 crore at 31 July 2026, while profit for the period was only Rs 3.01 crore. Most of the rise came from new capital, not earnings.
- Total borrowing more than doubled from Rs 22.66 crore at 31 March 2025 to Rs 46.80 crore at 31 March 2026. It was Rs 37.90 crore at 31 July 2026.
- Return on net worth is low at 6.37% and return on equity is 7.87% for the period to 31 July 2026. Profit after tax of Rs 1.97 crore in FY2026 is small against assets of Rs 84.23 crore.
- Unsecured personal loans to first-time and lower-income borrowers carry a higher chance of non-payment, and the data available to us does not state bad loan levels.
- Total income was flat at Rs 25.46 crore in FY2024 and Rs 25.34 crore in FY2025 before it rose in FY2026, so the growth is recent.
- Promoters hold 99.99% before the issue and 72.34% after it. The promoter group includes a company, CapFront Technologies Pvt.Ltd, and the company has only 56 employees.
- The object of the issue is only to add to the capital base, with a general corporate purpose share that has no amount stated, so there is no specific use of funds to track.
- This is an SME issue. One lot is 2,000 shares, which is about Rs 1.04 lakh at the upper band of Rs 52, and SME shares usually trade in low volume after listing.
Allotment status
Registrar: KFin Technologies Limited. Check Vaibhav Vyapaar IPO allotment status.
FAQs
What is the price band of Vaibhav Vyapaar IPO?
₹51–54 per share.
What is the lot size of Vaibhav Vyapaar IPO?
2,000 shares, which costs ₹1,08,000 at the upper price band.
What is the GMP of Vaibhav Vyapaar IPO?
₹0 (0.00%) as of 14 Oct 2026, 03:00 PM IST. GMP is unofficial and not a prediction of the listing price.
When does Vaibhav Vyapaar IPO open and close?
It opens on 13 Oct 2026 and closes on 15 Oct 2026.
When is the allotment date of Vaibhav Vyapaar IPO?
16 Oct 2026.
When will Vaibhav Vyapaar IPO list?
21 Oct 2026 on NSE SME.
How many times was Vaibhav Vyapaar IPO subscribed?
0.25x overall.