Vama Wovenfab IPO
ListedSMEPackaging
2.53×
Subscribed
Price band
₹341 – ₹341
Lot size
400
1 lot = ₹1,36,400
Issue size
₹49.54 Cr
Open – close
15 Sept 2026
to 17 Sept 2026
Listing
22 Sept 2026
Listing gain
+0.00%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
We can't judge this issue yet. A verdict needs at least three independent dimensions — valuation, growth, profitability, balance sheet, issue structure, governance or demand — and this issue does not yet publish enough of them for a read that would mean anything. The offer document has been analysed but reports too few of these to conclude on. A confident score from two fields would be worse than this notice.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens15 Sept 2026
- Closes17 Sept 2026
- Allotment18 Sept 2026
- Listing22 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.00x
Non-institutionalNII / HNI1.56x
Big NIIabove ₹10L2.32x
Small NII₹2L – ₹10L2.03x
Retail individualRII2.80x
4,089 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 17 Sept 2026.
Chance of allotment
Retail2.80× subscribed
~1 in 2.8
Minimum 2 lots · 800 shares · ₹2,72,800 blocked
Retail is 2.8× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.8 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII1.56× subscribed
~1 in 1.6
Minimum 1 lot · 400 shares · ₹1,36,400 blocked
HNI is 1.56× subscribed. This category is allotted proportionately, so a bid receives roughly 1/1.6 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹70+20.5%
over the upper band · last seen 23 Sept 2026 · flat since 16 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹341 – ₹341
Face value₹10
Lot size400shares
Minimum application₹1,36,400at cut-off
Total issue size₹49.54 Cr
Listing atSME platform
Anchor investorsNone
Company & valuation
EPS₹22.88pre-issue
NAV per share₹76.80
Return on equity50.37%
EBITDA margin8.32%
ROCE31.94%
Debt/Equity0.89
RoNW50.37%
PAT Margin5.38%
EBITDA Margin8.32%
NAV76.80
Price to Book Value4.44
ISININE1G7R01010
RegistrarMaashitla Securities Pvt Ltd
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 14,400 | 0.99% |
| NII (HNI) | 2,76,000 | 19.00% |
| bNII > ₹10L | 1,83,600 | 12.64% |
| sNII < ₹10L | 92,400 | 6.36% |
| Retail | 10,89,600 | 75.00% |
| Market Maker | 72,800 | 5.01% |
Total issue 14,52,800 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,72,8002 lots · 800 sh
Individual investors (IND) (Max)₹2,72,8002 lots · 800 sh
S-HNI (Min)₹4,09,2003 lots · 1,200 sh
S-HNI (Max)₹9,54,8007 lots · 2,800 sh
B-HNI (Min)₹10,91,2008 lots · 3,200 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Vama Wovenfab Limitedthis issue | — | — | — | — |
| Aeroflex Neu Ltd | 0.45 | 183.18 | 82.43 | 1.27% |
| Kahan Packaging Limited | 19.50 | 4.30 | 4.53 | 11.20% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumCustomer Concentration: The Company derives a substantial portion of its revenues from limited buyers, with Customer 1 contributing 63.68% of revenue in the financial year ended March 31, 2026.
mediumGeographical Concentration: A major portion of revenue is derived from three states, with Daman and Diu, and Dadra & Nagar contributing 47.93% of revenue in the financial year ended March 31, 2026.
mediumRaw Material Price Volatility: The Company is dependent on polypropylene (PP) and high-density polyethylene (HDPE) granules, whose prices are inherently volatile due to fluctuations in crude oil and feedstock costs.
Positives the filing discloses (1)
Healthy return on equity
ROE of 50.4%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-1.0%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-13.8%
Dudani Retail
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Bench Mark Infotechsame segment
96.0× sub+0.0%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Vama Wovenfab
Vama Wovenfab Limited is engaged in the manufacturing and sale of polypropylene (PP) and high-density polyethylene (HDPE) woven sack bags and fabric-based products. Its product range includes woven sack bags, HDPE trampolines and coloured woven fabric sheets, and loop handle bags, manufactured in different weights, sizes, and colours based on customer specifications. The company also trades in plastic granules and provides customised bulk packaging products to B2B manufacturers and traders across industries such as agriculture, chemicals, food processing, food grains, sugar, fertilisers, and cement. Its manufacturing process uses plastic granules that are melted, extruded into tapes, and woven into fabric, which is then converted into woven bags. The company operates a manufacturing unit at Bhimpore, Daman, where production commenced in 2013. Its registered office is located at Borivali (West), Mumbai. The manufacturing unit is ISO 9001:2015 certified for its quality management system.
Founded 2011MD Mr Saurabh Suresh GuptaSector Packaging
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Vama Wovenfab IPO GMP today?
The most recent grey-market premium recorded for Vama Wovenfab is ₹70 per share — about 20.5% over the ₹341 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Vama Wovenfab IPO subscribed?
Vama Wovenfab is subscribed 2.53× overall (QIB 1.00×, NII 1.56×, retail 2.80×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Maashitla Securities Pvt Ltd.
What is the minimum investment in the Vama Wovenfab IPO?
One lot is 400 shares, so a retail application at the ₹341 cut-off price blocks ₹1,36,400. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Vama Wovenfab IPO?
The retail portion is subscribed 2.80×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 3. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Vama Wovenfab IPO allotment date?
Allotment is scheduled for 2026-09-18, with listing on 2026-09-22. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, Maashitla Securities Pvt Ltd.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.