Vama Wovenfab IPO Day 1: Subscribed 0.01x; retail leads demand
- Vama Wovenfab IPO opens for subscription on 15-09-2026.
- Total subscription stands at 0.01x on Day 1.
- Retail investors lead demand; QIB and NII categories remain unsubscribed.
- Price band set between ₹324.00000 and ₹341.00000 per share.
*this image is generated using AI for illustrative purposes only.
Vama Wovenfab IPO opened for subscription on 15-09-2026, recording a total subscription of 0.01x on Day 1. Retail investors contributed the entire subscribed amount, while Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) remained unsubscribed as of the latest update.
Subscription Status
The IPO saw modest initial interest on its first day. The total subscription stood at 0.01x by the end of the trading session on 15-09-2026. No bids were recorded from the QIB category or the Employee category. Among Non-Institutional Investors, small HNI (sHNI) participants accounted for 0.03x in terms of bid value relative to the lot structure, though the consolidated total remains low.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 15-09-2026 | 0.00x | 0.03x | 0.00x | 0.01x | 0.01x |
Intra-day Timeline
Subscription activity was tracked throughout the day on 15-09-2026. The data below reflects the status at 13:15 IST and 14:15 IST.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 13:15 | 0.00x | 0.03x | 0.01x | 0.01x |
| 14:15 | 0.00x | 0.03x | 0.01x | 0.01x |
Offer Details
Vama Wovenfab has priced its IPO between ₹324.00000 and ₹341.00000 per share. The issue size ranges from ₹259200 to ₹500000. The minimum bid quantity for investors is 800 shares. The subscription window opens on 2026-09-15 at 10:00:00 and closes on 2026-09-17 at 16:00:00.
About the Company
Vama Wovenfab Limited is an ISO 9001:2015 certified manufacturer specializing in Polypropylene (PP) and High Density Polyethylene (HDPE) woven sack bags and fabric-based products. Incorporated in March 2011, the company commenced production in 2013 at its facility in Daman. It provides customized bulk packaging solutions to B2B manufacturers across agriculture, chemicals, and food processing sectors. The management team includes Mr. Suresh Mohanlal Gupta as CEO and Mr. Saurabh Suresh Gupta as MD.
Financial Highlights
The company reported significant revenue growth in FY 2026 compared to previous years. Below are the standalone financial figures for the last three fiscal years.
| Particulars | FY 2026 (₹ crores) | FY 2025 (₹ crores) | FY 2024 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 214.62 | 77.45 | 27.87 |
| Total Revenue | 214.62 | 77.76 | 27.87 |
| Profit Before Tax | 15.33 | 8.92 | 3.49 |
| Total Profit | 11.55 | 6.84 | 2.63 |
| Total Assets | 74.18 | 67.47 | 37.14 |
Objects of the Issue
The company intends to utilize the net proceeds for the following purposes:
- Capital Expenditure towards Construction of shed: ₹1.36 crores
- Capital Expenditure towards Purchase of Machinery: ₹7.25 crores
- To meet Working Capital Requirements: ₹26.50 crores
- General Corporate Purposes
Risk Factors
Investors should note several material risks associated with the company:
- Substantial revenue dependence on limited buyers, with the top customer contributing 63.68% of revenue in FY 2026.
- Absence of long-term customer agreements, relying solely on purchase orders.
- Raw material price volatility linked to crude oil fluctuations for PP and HDPE granules.
- High geographical revenue concentration, primarily from Daman and Diu (47.93%), Maharashtra (39.60%), and Gujarat (12.46%).
- Negative operating cash flows reported in FY 2026 (₹631.47 lakhs) and FY 2025 (₹232.51 lakhs).
Will the lack of QIB and NII interest on Day 1 signal potential under-subscription risks that could lead to a price cut or IPO cancellation?
How might the company's heavy reliance on a single customer (63.68% of revenue) impact investor confidence if that client reduces orders post-listing?
Given the negative operating cash flows in FY 2025 and 2026, can the raised working capital sufficiently bridge the gap until profitability stabilizes?
18
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
