Vandan Foods was incorporated on December 15, 2015. From FY18 to FY23, the company was involved in agro commodity trading. Since FY24, under new promoters, it has focused on B2B manufacturing of Refined F.S.G. Castor Oil and Castor De-Oil Cake
| Bidding Dates |
|---|
| 30 Jun 2025 - 02 Jul 2025 |
| Subscription |
|---|
| 1.71x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,38,000 | 1 | 1 | 1200 | 2.6 M | ₹115 | 66.42 % | ₹303.6 M | RHP DOC |
Vandan Foods IPO SUBSCRIPTION STATUS
02 Jul '25Vandan Foods IPO overall subscription rate was 1.71 times the total available shares
Vandan Foods IPO retail subscription rate was 2.94 times in the retail segment
Vandan Foods IPO non-institutional investor subscription rate was 0.48 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
02 Jul 2025 (Day 3) | 2.94x | 0.48x | - |
01 Jul 2025 (Day 2) | 1.45x | 0.19x | - |
30 Jun 2025 (Day 1) | 0.52x | 0x | - |
Vandan Foods FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 9MFY25 | 4.5 | 72.7 | -10.8 | -11.4 | 9.5% |
| FY24 | 2.6 | 48.7 | 0.9 | -4.5 | 7.5% |
| FY23 | 0.6 | 11.6 | 2.6 | 2.6 | 8.6% |
| FY22 | -0.1 | 1.5 | 0.2 | 0.2 | -5.27% |
Vandan Foods IPO SUBSCRIPTION STATUS DETAILS
Vandan Foods had 2.6 M shares on offer
Vandan Foods IPO offer price was ₹115
Vandan Foods IPO minimum Investment was ₹138000
Vandan Foods IPO issue size was ₹ 303.6 M
Vandan Foods had a minimum lot size of 1200 Shares per application
Vandan Foods NUMBER OF SHARES ON OFFER
Vandan Foods IPO IMPORTANT DATES
| Issue Open Date | 30 Jun 2025 |
| Issue close Date | 02 Jul 2025 |
| Allotment Date | 03 Jul 2025 |
| Refund Date | 04 Jul 2025 |
| Demat Account Credit Date | 04 Jul 2025 |
| Listing Date | 07 Jul 2025 |
| Listing on Exchange(s) | BSE |
| Vandan Foods Allotment Status | Exchange/ Registrar |
Vandan Foods IPO subscription opened on 30 Jun 2025, and closed on 02 Jul 2025
IPO allotment for Vandan Foods was finalized on Thursday, 03 Jul 2025
IPO listing for Vandan Foods was on BSE on Monday, 07 Jul 2025
Vandan Foods IPO LISTING GAINS
| Issue Price (adjusted) | 115.0 |
| Listing Open Price | 125.0 |
| Listing Close Price | 118.8 |
| Listing Gain% | 8.7% |
| Current Gain% | -79.1% |
Vandan Foods Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vandan Foods Ltd. | 24 | 20.1 | 15.2 | -0.2 | 0.1 | 2.8 | 1.1 | 259.7 | 140 | 1.3 | -80.8 | 1.6 | -80.8 |
| Patanjali Foods Ltd. | 357.5 | 38899.9 | 21.4 | 0.5 | 1 | 13.8 | 9.6 | 40347.8 | 17.7 | 1814.5 | 39.5 | 16.7 | 39.5 |
| AWL Agri Business Ltd. | 197.5 | 25668.7 | 22.2 | 33.6 | 0.3 | 10 | 4.2 | 75148.5 | 17.6 | 1042 | -14.9 | 8.9 | 0.7 |
| Gokul Agro Resources Ltd. | 228.8 | 6751.6 | 16 | 0.3 | 0.3 | 26 | 7.5 | 24116.7 | 23.1 | 369.4 | 50.4 | 14.3 | 59.2 |
| CIAN Agro Industries & Infrastructure Ltd. | 1359.5 | 3804.7 | 16.9 | 0 | 1.7 | 10.3 | 5.2 | 2279 | 116.3 | 222.7 | 441 | 80.3 | 445.8 |
| BN Agrochem Ltd. | 269.5 | 2635 | 77.1 | 1.3 | 3 | 7.4 | 6.5 | 873.7 | 137.9 | 34.4 | 74 | 3.5 | 57.2 |
Vandan Foods INFORMATION ON IPO ISSUE
About Vandan Foods
Vandan Foods was incorporated on December 15, 2015. From FY18 to FY23, the company was involved in agro commodity trading. Since FY24, under new promoters, it has focused on B2B manufacturing of Refined F.S.G. Castor Oil and Castor De-Oil Cake
Object of the Issue
- To meet working capital requirements
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- Funding the capital expenditure requirement for expansion of their Dhinoj Facility (CAPEX)
- General corporate purpose
- To meet public issue expenses
Vandan Foods - PROMOTERS
| Name |
|---|
| Kalpesh Bhagavandas Thakkar |
| Rakeshkumar Rameshbhai Patel |
| Jitendra Rameshbhai Patel |
| Jyotsana Jitendrabhai Patel |
Vandan Foods Book Running Lead Manager
Nirbhay Capital Services Private Limited
kunjal@nirbhaycapital.com
Vandan Foods Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Vandan Foods Strengths
Quality
The company holds an ISO 9001:2015 certification for its quality management system in manufacturing castor oil and castor de-oiled cake. Product quality is tested before dispatch through certified external labs to ensure strength, durability, and compliance with industry norms
Diversified business model
In a highly competitive environment, the company has built a diversified business model covering castor seeds, castor DOC, and castor oil. This reduces dependency on a single product line, ensures year-round revenue flow, and provides a competitive advantage
Scalable business
The company follows a scalable, customer-centric, and order-driven business model focused on optimal resource use and consistent quality. Growth is driven by expanding into new domestic and international markets
Vandan Foods Risks
Seasonal operations
The company’s operations are seasonal due to the seasonal availability of castor seeds, its key raw material. This leads to revenue fluctuations across quarters, with higher revenues typically during crop seasons when procurement is easier and more cost-effective
Price fluctuations
The company manufactures Refined Castor Oil (F.S.G.) and Castor De Oiled Cake for the domestic market, sourcing castor seeds from local suppliers without fixed contracts. It faces risks from raw material price fluctuations, and while it generally passes on cost increases to customers, maintaining historical margins may still be challenging
Inventory risks
The company maintains inventories of raw materials, work-in-progress, and finished goods to support continuous operations and guard against supply disruptions. Ineffective inventory management or overestimation of raw material needs may lead to increased costs, blocked capital, and potential loss of business
IPO FAQs
The promoters of the company are Kalpesh Bhagavandas Thakkar, Rakeshkumar Rameshbhai Patel, Jitendra Rameshbhai Patel and Jyotsana Jitendrabhai Patel.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 115.0 - 115.0.
The IPO application opens on Jun 30, 2025 and closes on Jul 02, 2025.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 138,000.0, the maximum value for this IPO is Rs 138,000.0.
This IPO will be allotted on Jul 03, 2025.
The refund will be credited to your account on Jul 04, 2025.
The allotted shares will be credited to your demat on Jul 04, 2025.
Vandan Foods Ltd.’s shares listed on the stock exchanges on Jul 07, 2025.