Vaibhav Vyapaar IPO
Closes Thu 15 Oct13–15 Oct 2026
Our IPO analysis
What stands out in the offer document
The five questions
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1How it makes money₹87 of every ₹100 of sales comes from its "Direct Lending" segment. ₹42 of every ₹100 comes from Tamilnadu and Karnataka.
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2Is it growing, and is profit turning into cash?Sales rose 46% from 2024 to 2026 (₹25.3 cr → ₹36.8 cr). Over 3 years it made ₹3.9 cr of profit and brought in −₹18.6 cr of cash from operations.
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3How much cushion does it have?Borrowing is the business for lending (nbfc / hfc / mfi / bank), so what it owes is not the measure. What matters instead: Capital adequacy (CAR) and Gross & net NPA.
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4What you pay, and who gets the moneyAll the money raised goes to the company. At ₹54 you pay about ₹44 for every ₹1 of last year's profit. The listed peers the document names: ₹26 (middle of 2).
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5Who controls it, and what is on record?Promoters own 100% before the IPO. The document discloses 1 legal matter.
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Latest update:
Subscribed 0.19× (NII 0.4× · Retail 0.2×) · Price band ₹51–₹54 · Closes 15 Oct 2026 · Allotment 16 Oct 2026 (Confirmed) · Lists 21 Oct 2026 (Expected)
What Vaibhav Vyapaar does
Our Company is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). We primarily provide unsecured personal loans to salaried individuals and self-employed individuals through our fully digital lending platform, both on a direct lending and co-lending basis.
Vaibhav Vyapaar financials
Rs crore · Annual| 2024 | 2025 | 2026 | Period ended July 31, 2026 | ||
|---|---|---|---|---|---|
| Sales | 25 | 25 | 37 | 18 | |
| Operating Profit | 5 | 7 | 11 | 8 | |
| OPM % | 21.3% | 28.2% | 29.5% | 41.7% | |
| Net Profit | 0 | 1 | 2 | 3 | |
| Total Debt | 27 | 23 | 47 | 38 |
Vaibhav Vyapaar IPO offer structure
Fresh issue: ₹42 cr
The fresh issue alone, not the total raise: the document we read does not state the offer-for-sale part.
Size and split come from a public aggregator rather than the exchange, cross-checked against a second.
Use of proceeds- Augment the capital base of our company: ₹32 cr
- General Corporate Purpose
Vaibhav Vyapaar promoters and holding
- Itha Venkata Raghava Gowrinath: Chairman and Managing Director
- Capfront Technologies Private Limited: Corporate Promoter
Vaibhav Vyapaar risks and strengths
- Our business is exposed to interest rate volatility, which may adversely affect our lending and treasury operations. (p.29)
- Our success depends on retaining and expanding our customer base. (p.29)
- A significant portion of our Assets Under Management is concentrated in certain states and regions of India. (p.29)
Vaibhav Vyapaar peer comparison: DRHP median P/E 26.3x
DRHP data only| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Paisalo Digital Limited | — | 30.5x | — | — | DRHP |
| Apollo Finvest (India) Limited | — | 22.0x | — | — | DRHP |
| Moneyview Limited | — | — | — | — | DRHP |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Vaibhav Vyapaar market and competition
We operate in the non-banking financial services sector, which is highly competitive and comprises a diverse range of participants, including banks, non-banking financial companies, housing finance companies, fintech platforms and other financial institutions.
Vaibhav Vyapaar outlook, as the document states it
We plan to expand our product or loan offerings portfolio through the introduction of loan products for salaried individuals and self-employed individuals. The Company continuously evaluates opportunities to broaden its lending portfolio based on customer requirements, market developments, funding availability and applicable regulatory requirements.
Vaibhav Vyapaar IPO: common questions
When does the Vaibhav Vyapaar IPO open and close?
The Vaibhav Vyapaar IPO is open for bidding from 13 Oct 2026 to 15 Oct 2026. You can bid on any working day in that window through a broker app or net banking, and a UPI mandate has to be approved by the cut-off time on the closing day. Allotment is fixed on the working day after the close.
What is the Vaibhav Vyapaar IPO price band?
The Vaibhav Vyapaar IPO price band is ₹51–₹54 per share. You can bid at any price inside the band, and a retail investor can bid at cut-off, which accepts the final issue price, usually the top of the band. The minimum investment is always worked out at that upper end.
What is the lot size and minimum investment for the Vaibhav Vyapaar IPO?
One lot is 2000 shares, and a retail application must be at least one lot. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
How much is the Vaibhav Vyapaar IPO subscribed?
As of 13 Oct 2026 the Vaibhav Vyapaar IPO is subscribed 0.19× in total, meaning investors have bid for that many times the shares on offer. Each category (QIB, NII and retail) is counted separately, and when retail is oversubscribed its allotment is decided by a lottery for one lot each.
When are the Vaibhav Vyapaar IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 16 Oct 2026, refund/unblock around 19 Oct 2026 and listing around 21 Oct 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Vaibhav Vyapaar IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
How often do these actually open above the issue price?
Of the 718 SME IPOs that have listed on the NSE since 2016, 566 (79%) opened above their issue price, at a median of +11%. That is the segment's own record, not a forecast for this issue.
Check it at the source: The offer document · NSE issues · SEBI offer documents