Vaibhav Vyapaar IPO

The Vaibhav Vyapaar SME IPO opens for subscription on 13 Oct 2026 and closes on 15 Oct 2026, offered at a price band of ₹51–54 per share, and is set to list on NSE. In total, the issue aims to mobilise ₹42.1 crore. Retail investors bid in lots of 2000 shares, a minimum application of ₹2,16,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹39.99 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward augment the capital base of the company (₹32 crore), alongside general corporate purpose.

Financials

In FY2026, Vaibhav Vyapaar reported revenue of ₹18.15 crore and a net profit of ₹3.01 crore. Revenue declined from ₹25.46 crore in FY2024 to ₹18.15 crore in FY2026 (-29.0%). Net worth stood at ₹47.2 crore at the end of FY2026. At the upper band, that puts the issue at roughly 55.7× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 16.25× post-issue earnings and 2.25× book value, against a return on net worth of 6.37% and a debt-to-equity ratio of 0.8. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Apollo Finvest India Ltd. and Paisalo Digital Ltd., with a median peer P/E of about 26.3×. The issue's own post-issue P/E works out to 16.25×.

Promoters

The promoters of the company are <p>Itha Venkata Raghava Gowrinath, CapFront Technologies Pvt.Ltd.</p>. Promoter holding stands at 99.99% before the issue and comes down to 72.34% after listing.

Grey market premium (GMP)

In the unofficial grey market, Vaibhav Vyapaar shares are quoted at a premium of ₹0 implying an expected listing around ₹54, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Vaibhav Vyapaar IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Vaibhav Vyapaar

Vaibhav Vyapaar Limited is an RBI-registered Non-Banking Financial Company (NBFC) engaged in providing digital lending solutions to retail customers across India. The company primarily offers unsecured personal loans to salaried and self-employed individuals through a technology-enabled platform, operating under both direct lending and co-lending arrangements. Its lending services are delivered through the &ldquo;LoanFront&rdquo; mobile application, which facilitates the entire loan lifecycle digitally, including customer onboarding, credit assessment, documentation, loan disbursement, and repayment management. The company leverages automated underwriting processes, digital verification systems, and data-driven risk evaluation tools to streamline lending operations and enhance credit decision-making. Apart from its lending business, Vaibhav Vyapaar also provides technology and application support services to other NBFCs, creating an additional source of revenue. The company primarily caters to retail borrowers, with a focus on first-time credit seekers and salaried individuals in the low- to middle-income segment, while expanding its reach across urban and semi-urban markets through a scalable digital infrastructure.