Vedant Poly Fabs’ public issue opens for subscription today, November 2, on the NSE SME platform. Grey market activity ahead of the opening points to a premium of about 16%, suggesting some investors expect the shares to list above the issue price.
Issue size and structure
The book-built issue is worth Rs 56.68 crore. A fresh issue of 54.26 lakh equity shares makes up Rs 51.01 crore of this. The remaining Rs 5.67 crore comes from an offer for sale of 6.04 lakh shares.
Bidding stays open from November 2 to November 4, 2026. The basis of allotment is likely to be finalised on November 5. The shares are tentatively set to list on the NSE SME platform on November 9.
Price band and lot size
The price band is Rs 88 to Rs 94 per share, and one lot has 1,200 shares.
Retail investors must bid for at least two lots, or 2,400 shares. At the top of the band, that works out to Rs 2,25,600.
High-net-worth individuals (HNIs) need to apply for at least three lots, or 3,600 shares, which comes to Rs 3,38,400.
Affinity Global Capital Market Pvt. Ltd. is the book-running lead manager. Cameo Corporate Services Ltd. is the registrar to the issue.
What the grey market says
In unofficial trading, the shares were quoted at a premium of Rs 15 over the upper end of the Rs 94 band. That is roughly 16% and implies a listing price of around Rs 109 per share.
The grey market premium, or GMP, is only an unofficial gauge of sentiment. It does not guarantee the price at which the stock lists, nor the returns an investor will earn.
How the money will be used
The largest share of the net proceeds, Rs 24.61 crore, is earmarked for incremental working capital needs.
Rs 8 crore will go towards prepaying or repaying certain secured and unsecured borrowings.
Another Rs 6.51 crore is set aside for capital expenditure, including buying and installing plant and machinery at the existing manufacturing facility.
Whatever remains will fund general corporate purposes and issue-related expenses.
About the company
Vedant Poly Fabs was incorporated in December 2018. It makes flexible packaging materials and sells them to businesses across India under a business-to-business model.
Its products include three-layer and five-layer low-density films, shrink films, barrier films and printed laminates. It also makes milk and oil pouches. These serve food and beverage makers and other consumer goods industries.
Since it began operations, the company has widened its product range and strengthened its manufacturing capabilities. It has also set up dedicated teams for sales, design, production, logistics and dispatch.
In March 2026, it added lamination, slitting and pouching machines to raise its manufacturing capacity. It also put in a reprocessing unit to make better use of resources and recycle waste generated in production.
Its manufacturing follows an integrated process. This covers buying raw materials, film extrusion, printing, lamination, slitting, quality control, packaging and dispatch.
As of June 30, 2026, the company had 61 employees across its factory and offices. They include directors, key managerial personnel and senior managers who handle operations, compliance, administration, marketing and accounting.
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