The IPO consists entirely of a fresh issue and does not include any offer-for-sale component.
The issue has allocated 47.5% each to retail and non-institutional categories, with the remaining 5% reserved for the market maker, Aftertrade Broking Pvt Ltd.
Nirbhay Capital Services is the lead manager for the issue and Bigshare Services is the registrar. The listing of shares is expected on the BSE SME platform on July 7 following allotment on July 3.
Incorporated in 2015, Vandan Foods is primarily engaged in the production of Refined First Stage Grade (FSG) Castor Oil and Castor De-Oiled Cake.
The company supplies these products for use in sectors like pharmaceuticals, paints, textiles, and agriculture. The company operates on both B2B and B2C models and has distribution across multiple Indian states including Gujarat, Telangana, Delhi, and Haryana.Financially, the company has shown strong growth, with revenue rising to Rs 72.66 crore as of December 2024 and net profit climbing to Rs 4.54 crore, representing a Return on Equity (ROE) of 45.41 percent and Return on Capital Employed (ROCE) of 37.33 percent. The IPO is valued at a post-issue market cap of Rs 96.43 crore.The funds raised from the IPO will be used for working capital (Rs 8.57 crore), repayment of debt (Rs 3 crore), expansion of the Dhinoj facility (Rs 8.29 crore), and general corporate purposes.
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