IPO Analysis
Vaibhav Vyapaar Limited IPO Analysis: GMP, Financials, Valuation & Risks
Vaibhav Vyapaar Limited IPO opens on October 13, 2026, with the issue size at about 42.10 crores and GMP at 0.
By Vatsal Patel
ยท 5 min read
AI wrote this article from prospectus and exchange data, and software checked its figures against that data before publishing. How our content is made
Summary
Vaibhav Vyapaar Limited IPO opens on October 13, 2026 and closes on October 15, 2026. The price band is 51 to 54 per share, and the issue size is about 42.10 crores.
The latest unofficial grey market premium is 0 as of 14 Oct 2026, 9:05 am IST. For a quick view of the issue, you can also check our Vaibhav Vyapaar Limited IPO analysis page.
IPO snapshot
| Particulars | Details |
|---|---|
| IPO type | SME |
| Exchange | NSE SME |
| Issue type | Bookbuilding IPO |
| Price band | 51 to 54 Per Share |
| Face value | 5 per share |
| Issue size | Approx 42.10 Crores |
| Fresh issue | 74,06,000 shares (agg. up to 40 Cr) |
| Offer for sale | 40.54 Crores |
Dates table
| Event | Date |
|---|---|
| Open | October 13, 2026 |
| Close | October 15, 2026 |
| Allotment | October 16, 2026 |
| Refunds | October 19, 2026 |
| Credit to demat | October 19, 2026 |
| Listing | October 21, 2026 |
Market lot
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4000 | 2,16,000 |
| Retail Maximum | 2 | 4000 | 2,16,000 |
| S-HNI Minimum | 3 | 6000 | 3,24,000 |
| S-HNI Maximum | 9 | 18000 | 9,72,000 |
| B-HNI Minimum | 10 | 20000 | 10,80,000 |
Business
Vaibhav Vyapaar Limited is a Non-Banking Financial Company, or NBFC, that provides unsecured personal loans to salaried and self-employed individuals through its digital lending platform.
The company offers personal loans under the LoanFront brand through its mobile application. The platform supports loan origination, customer verification, due diligence, underwriting, documentation, disbursal and repayment.
It lends through direct lending and co-lending arrangements with other NBFCs. It also earns revenue by providing application and technology services to other NBFCs.
Financials
| Period ended | Assets | Revenue | Profit after tax | EBITDA | Net worth | Reserves and surplus | Total borrowing |
|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 61.18 | 25.46 | 0.45 | 5.38 | 25.74 | 21.71 | 26.76 |
| 31 Mar 2025 | 55.04 | 25.34 | 1.48 | 7.07 | 27.22 | 23.19 | 22.66 |
| 31 Mar 2026 | 84.23 | 37.64 | 1.97 | 10.84 | 29.19 | 21.14 | 46.80 |
| 31 Jul 2026 | 96.16 | 18.15 | 3.01 | 7.51 | 47.20 | 37.00 | 37.90 |
Valuation
| Metric | Value |
|---|---|
| ROE | 7.87% |
| ROCE | 12.44% |
| Debt to equity ratio | 0.80 |
| Return on net worth (RoNW) | 6.37% |
| PAT margin | 16.70% |
| EBITDA margin | 41.72% |
| NAV | 23.15 |
| Price to book value | 2.25 |
| EPS | 1.22 (Basic) |
| PE ratio | N/A |
At the upper end of the band, the price to book value is 2.25 and the PE ratio is N/A. That keeps the valuation view limited to the disclosed ratios, so the issue needs to be read along with the earnings trend and risk profile.
GMP
The latest unofficial grey market premium is 0, recorded at 14 Oct 2026, 9:05 am IST. The estimated listing price in that quote is 52.
| Date | Unofficial GMP | Estimated listing percent |
|---|---|---|
| 2026-10-09 | 0 | 0 |
| 2026-10-10 | 0 | 0 |
| 2026-10-11 | 0 | 0 |
| 2026-10-12 | 0 | 0 |
| 2026-10-13 | 0 | 0 |
| 2026-10-14 | 0 | 0 |
Strengths
- AUM increased to Rs 81.24 crore by July 2026 from Rs 42.37 crore in FY24.
- Revenue from operations reached Rs 36.80 crore in FY26 from Rs 25.25 crore in FY24.
- PAT improved to Rs 1.97 crore in FY26 from Rs 0.45 crore in FY24.
- GNPA improved from 6.72% in FY24 to 4.71% in FY26.
- Repeat customers contributed 75.40% of revenue in FY26.
- The platform had about 86 lakh registered users and about 18 lakh KYC-verified users by March 2026.
- About 24 lakh loans were disbursed to about 5 lakh customers by March 2026.
Risks
- Unsecured loans carry higher default risk because there is no collateral backing the advances.
- Earnings can move with interest-rate mismatch between lending yields and borrowing costs.
- Asset quality remains under pressure, with GNPA and NNPA still present.
- AUM is concentrated in a few states, so regional stress can affect collections.
- Large related party payments raise governance and dependence concerns.
Important dates
| Event | Date |
|---|---|
| IPO opens | October 13, 2026 |
| IPO closes | October 15, 2026 |
| Allotment | October 16, 2026 |
| Refunds | October 19, 2026 |
| Credit to demat | October 19, 2026 |
| Listing | October 21, 2026 |
Promoters
The promoters of the company are Itha Venkata Raghava Gowrinath and CapFront Technologies Pvt.Ltd.
FAQs
What is the price band for Vaibhav Vyapaar Limited IPO?
The price band is 51 to 54 per share.
What is the issue size?
The issue size is about 42.10 crores.
When does the IPO open and close?
It opens on October 13, 2026 and closes on October 15, 2026.
What is the latest unofficial GMP?
The latest unofficial grey market premium is 0 as of 14 Oct 2026, 9:05 am IST.
What is the listing date?
The listing date is October 21, 2026.