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₹51 - 54 Amounts at the upper price band.
Vaibhav Vyapaar Ltd
FinanceIPOSME
₹51 - 54
Incorporated in 2009 and acquired by its current parent in 2019, Vaibhav Vyapaar Ltd is an RBI-registered non-banking financial company providing unsecured personal loans and partner platform services through its LoanFront digital application. The business functions through a high-velocity churn model, using automated mobile underwriting to issue small-ticket credit to underserved borrowers while earning fee income by originating and servicing loans for external lending institutions.
Lot2,000Min Invest₹2,16,000Face Value₹5Issue Size₹42 CrFresh Issue₹42 Cr
Timeline
13 Oct
Bidding opens
15 Oct
Bidding closes
16 Oct
Allotment
19 Oct
Refund & demat credit
21 Oct
Listing
Subscription · As of 7:00 PM, 15 Oct
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB1.61x34.89 L56.00 L30.24NII5.19x10.54 L54.66 L29.52Retail2.70x24.52 L66.15 L35.72Total3.08x77.96 L2.40 Cr122.42
Reports
Offer Details
Terms
Issue Size₹42 Cr0.78 Cr shares
Fresh Issue₹42 Cr
Face Value₹5
Lot Size2,000 shares
ReservationQIB 49.88% · NII 15.07% · RETAIL 35.05%
Application Sizes
Retail₹2,16,0001-1 lots
sNII₹2,16,000from 2 lots
bNII₹10,80,000from 10 lots
Managers & Registrar
Lead ManagerGetfive Advisors Pvt Ltd
RegistrarKFin Technologies Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group99.99%72.33%Public0.01%27.67%
Objects of the Issue
- Augment the capital base of the company.
- General Corporate Purpose
Anchor Book
Bid Date12-Oct-2026Bid Price₹54Shares22,00,000Amount₹0 Cr30-day lock-in14-Nov-202690-day lock-in13-Jan-2027
Financials
Profit & Loss
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| RevenueCr | 25 | 25 | 37 |
| Operating ProfitCr | 5 | 7 | 11 |
| OPM% | 21.3 | 28.2 | 29.5 |
| PBTCr | 1 | 1 | 3 |
| PATCr | 0 | 1 | 2 |
| EPS | 0 | 1 | 1 |
Balance Sheet
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity CapitalCr | 4 | 4 | 8 |
| ReservesCr | 22 | 23 | 21 |
| BorrowingsCr | 27 | 23 | 47 |
| Total AssetsCr | 61 | 55 | 84 |
Cash Flow
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| Operating Cash FlowCr | -4 | 0 | -18 |
| Investing Cash FlowCr | -8 | 4 | -3 |
| Financing Cash FlowCr | 12 | -5 | 24 |
| Net Cash FlowCr | 0 | -1 | 2 |
Strengths & Risks
Strengths · as stated in the DRHP
- Ground-Level Market Understanding and Customer Insights.
- Digital Lending Platform with In-House Technology
- Experienced Leadership and Management Team
- Underwriting Framework and Risk Management Systems
Strategies · as stated in the DRHP
- Digital Transformation and Technology Enablement.
- Strengthening Risk Management and Underwriting Framework.
- Development of new products or loan offerings.
- Co-Lending and Partnership Models.
Risks · as stated in the DRHP
- The company's business is exposed to interest rate volatility, which may adversely affect its lending and treasury operations, Net Interest Income, Net Interest Margin and results of operations.
- The company's success depends on retaining and expanding its customer base. If the company is unable to attract new customers or are unable to retain and grow its relationships with the company's existing customers, its business, financial condition, cash flows, results of operations and prospects would be materially and adversely affected.
- A significant portion of the company's Assets Under Management ("AUM") is concentrated in certain states and regions of India. Any adverse economic, regulatory, political, climatic, social or business developments in such states or regions could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- The company's lending operations primarily involve unsecured loans to borrowers with a relatively higher risk profile, and any increase in defaults or the company's inability to recover outstanding dues may have a material adverse effect on its business, financial condition, cash flows and results of operations.
- The company's business operations are highly dependent on the continuous availability, reliability, scalability and security of its mobile application and underlying information technology infrastructure. Any disruption, failures or security breach affecting the company's technology systems could adversely affect its business, financial condition, results of operations, cash flows and prospects.
- The company's digital lending operations are significantly dependent on third-party software vendors and service providers for critical functions such as customer onboarding, identity and document verification, credit bureau checks, account aggregation, payments, disbursals, communications and collections. Any disruption, failures, security breach, regulatory non-compliance or unavailability of such services could adversely affect the company operations, delay loan processing and materially impact its business and financial performance.