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Vama Wovenfab IPO
₹49.54 Cr · Fresh Issue · Other Industrial Products
Price Band
₹324
Lot: 400 shares (₹129,600)
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹49.54 Cr
Fresh Issue
Market Cap
₹176.94 Cr
At upper band
P/E Ratio
11.04x
Listing Date
22nd Sep 2026
BSE & NSE
IPO Timeline
✓
Opens
15th Sep 2026
✓
Closes
17 Sep 2026
📋
Allotment
18 Sep 2026
₹
Refund
21 Sep 2026
📈
Listing
22nd Sep 2026
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.48× sector midpoint P/E with exceptional 177.5% revenue CAGR and 31.94% ROCE, signaling strong operational efficiency and growth. Key risk: NPM of 5.4% is thin and leaves little margin for cost inflation or pricing pressure in the woven fabrics segment.
Our Analysis — Key Points
✓ Strength
Exceptional Revenue and Profit Growth
Revenue grew from ₹27.9 Cr (FY-2) to ₹214.6 Cr (FY0), a 177.5% two-year CAGR, while PAT expanded 109.6% CAGR to ₹11.6 Cr. This scale-up demonstrates strong market demand and operational leverage in the industrial fabrics business.
✓ Strength
Attractive Valuation and Capital Efficiency
At 11.04× P/E against a 23× sector midpoint, the company is priced at 0.48× the benchmark. ROCE of 31.94% and D/E of 0.89× indicate disciplined capital deployment and low financial risk for an SME-listed manufacturer.
⚠ Risk
Thin Net Profit Margin Vulnerability
NPM of 5.4% is well below the 15% threshold and leaves minimal buffer against raw material cost spikes or competitive pricing pressure. Any disruption to input costs or demand could compress profitability sharply.
⚠ Risk
Rapid Growth Sustainability Unproven
The 177.5% revenue CAGR over two years is exceptional but may not be sustainable as the company scales and market saturation increases. Post-IPO execution on capex (₹8.6 Cr for shed and machinery) will be critical to validate the growth trajectory.
₹ Valuation
Valuation Well Below Sector Norms
P/E of 11.04× is 0.48× the Manufacturing/Engineering sector midpoint of 23× (range 18–28×). At this discount, the company offers entry at a significant margin of safety despite thin margins, provided growth sustains.
👁 Watch
Monitor Capex Execution and Margin Trends
Track quarterly capex deployment against the ₹8.6 Cr machinery and shed plan and watch for any compression in EBITDA margin (currently 8.32%) as a sign of competitive or cost pressures.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Vama Wovenfab" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹214.62 Cr
Net Profit
₹11.55 Cr
Industry
Other Industrial Products
Issue Type
Fresh Issue
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.48× sector midpoint P/E with exceptional 177.5% revenue CAGR and 31.94% ROCE, signaling strong operational efficiency and growth. Key risk: NPM of 5.4% is thin and leaves little margin for cost inflation or pricing pressure in the woven fabrics segment.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
The minimum lot size is 400 shares. At the upper band price of ₹324, the minimum investment per retail application is ₹129,600. You can apply for up to 13 lots (₹1,684,800) under the retail category (up to ₹2 lakh).
The IPO opens on 15th Sep 2026. It closes on 17 Sep 2026. Allotment is expected on 18 Sep 2026. Refunds initiate on 21 Sep 2026. Listing on BSE and NSE is on 22nd Sep 2026.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 17 Sep 2026. The minimum investment is ₹129,600 for one lot (400 shares). The company trades at 0.48× sector midpoint P/E with exceptional 177.5% revenue CAGR and 31.94% ROCE, signaling strong operational efficiency and growth. Key risk: NPM of 5.4% is thin and leaves little margin for cost inflation or pricing pressure in the woven fabrics segment.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 17 Sep 2026. The IPO is priced at a P/E of 11.04x. Market cap at issue price is ₹176.94 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The minimum lot is 400 shares at ₹324 each, costing ₹129,600 per application. The issue closes on 17 Sep 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Vama Wovenfab'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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