Vedant poly Fabs
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 1.00×
- Big non-institutionalbNII · above ₹10 lakh
- 1.12×
- Small non-institutionalsNII · ₹2–10 lakh
- 1.90×
- Retail individualRII · up to ₹2 lakh
- 2.26×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 6 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 04 Nov 2026 | ₹1 | — | ₹900 | ₹95 | ₹1,200 |
| 03 Nov 2026 | ₹11 | — | ₹10,000 | ₹105 | ₹13,200 |
| 02 Nov 2026 | ₹15 | — | ₹13,700 | ₹109 | ₹18,000 |
| 01 Nov 2026 | ₹15 | — | ₹13,700 | ₹109 | ₹18,000 |
| 31 Oct 2026 | ₹5 | — | ₹4,600 | ₹99 | ₹6,000 |
| 30 Oct 2026 | ₹0 | — | ₹0 | ₹94 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 68,400 | 68,400 | ₹0.64 Cr | 1.00× |
| Non-institutional | 22,60,800 | 31,27,200 | ₹29.40 Cr | 1.38× |
| Big non-institutionalwithin NII | 15,07,200 | 16,92,000 | ₹15.90 Cr | 1.12× |
| Small non-institutionalwithin NII | 7,53,600 | 14,35,200 | ₹13.49 Cr | 1.90× |
| Retail individual | 33,96,000 | 76,68,000 | ₹72.08 Cr | 2.26× |
| Total | 57,25,200 | 1,08,63,600 | ₹102 Cr | 1.90× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 04 Nov, 05:11 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 02 Nov 2026 – 04 Nov 2026
- Listing date
- 09 Nov 2026
- Face value
- ₹10 per share
- Price band
- ₹88 – ₹94
- Lot size
- 1,200 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹56.68 Cr
- Fresh issue
- ₹48.14 Cr 51,21,600 shares
- Offer for sale
- ₹5.67 Cr 6,03,600 shares
- Market cap at offer price
- ₹189 Cr
- Promoter holding
- 100.00% → 70.08% pre-issue → post-issue
- ISIN
- INE2RWX01016
- CIN
- U25209WB2018PLC229187
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Affinity Global Capital Market Pvt.Ltd.
- Registered office
- 6/1/Q Digberia Road, Barasat, P.O. Badu, PS Barasat North 24 Parganas, Badu, Barasat- I, West Bengal, India 700128
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 68,400 | 1.19% | 1.13% |
| NII (HNI) | 22,60,800 | 39.49% | 37.49% |
| bNII > ₹10L · within NII | 15,07,200 | — | 25.00% |
| sNII < ₹10L · within NII | 7,53,600 | — | 12.50% |
| Retail (RII) | 33,96,000 | 59.32% | 56.32% |
| Employee | 0 | — | 0.00% |
| Market maker | 3,04,800 | — | 5.05% |
| Total issue | 60,30,000 | — | 100.00% |
Net offer to the public of 57,25,200 shares, out of a total issue of 60,30,000. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 1,200 shares per lot, in multiples, at ₹94
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,12,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,25,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,02,400 |
| B-HNI (min) | 9 | 10,800 | ₹10,15,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.45 | 6.90 |
| P/E (×) | 12.62 | 13.62 |
| Price to book (×) | 3.28 | — |
| Market cap | — | ₹189 Cr |
Key performance indicators
- Return on net worth
- 25.95%
- ROCE
- 29.00%
- Debt / equity
- 1.11
- PAT margin
- 9.52%
- EBITDA margin
- 16.50%
- NAV per share
- ₹28.70
- Price to book
- 3.28
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 115.31 | 81.58 | 49.73 |
| Revenue from operations | 115.14 | 81.02 | 49.53 |
| Other income | 0.18 | 0.56 | 0.19 |
| Total expenses | 100.59 | 74.97 | 48.87 |
| Operating profit | 14.72 | 6.61 | 0.86 |
| Operating margin | 12.77% | 8.10% | 1.73% |
| Profit before tax | 14.73 | 6.61 | 0.86 |
| Profit after tax | 10.97 | 4.56 | 0.64 |
| PAT margin | 9.51% | 5.59% | 1.29% |
| Balance sheet | |||
| Total assets | 97.8 | 55.4 | 18.88 |
| Current assets | 62.55 | 46.38 | 15.93 |
| Current liabilities | 43.55 | 37.88 | 11.75 |
| Total liabilities | 55.54 | 39.98 | 15.02 |
| Net worth | 42.26 | 15.42 | 3.86 |
| Current ratio | 1.44× | 1.22× | 1.36× |
| Return on equity | 25.96% | 29.57% | 16.58% |
| Cash flow | |||
| Operating cash flow | -11.46 | 1.26 | -3.46 |
| Investing cash flow | -28.65 | -6.66 | -2.52 |
| Financing cash flow | 47.16 | 5.77 | 5.85 |
| Net cash flow | 7.05 | 0.37 | -0.12 |
Objects of the issue
1 Funding Incremental Working Capital Requirements ₹24.61 Cr
The company intends to utilize a portion of the Net Proceeds to fund incremental working capital requirements for Fiscal 2027, covering trade receivables, inventories, and day-to-day operations to support business growth and profitability.
2 Prepayment or Repayment of Outstanding Borrowings ₹8 Cr
The company proposes to utilize a portion of the Net Proceeds towards prepayment or repayment of all or a portion of certain secured and/or unsecured outstanding borrowings, aiming to reduce debt, maintain a favorable debt-equity ratio, and free internal accruals for business growth.
3 Funding Capital Expenditure for Plant and Machinery ₹6.51 Cr
The company plans to utilize a portion of the Net Proceeds for the purchase and installation of an Extrusion Coating & Lamination Line at its existing manufacturing facility to expand production capacity and cater to a wider range of packaging applications.
4 General Corporate Purposes —
The company intends to deploy a portion of the Net Proceeds towards general corporate purposes including strategic initiatives, funding growth opportunities, strengthening marketing capabilities, and meeting ongoing business contingencies, not exceeding the regulatory limit.
5 To Meet Offer Related Expenses —
The company proposes to utilize a portion of the Net Proceeds to meet offer-related expenses including merchant banking fees, underwriting fees, printing and distribution expenses, legal fees, advertisement expenses, registrar fees, depository fees, and listing fees.
6 Offer for Sale —
The Offer for Sale allows the Selling Shareholders to divest up to a specified number of Equity Shares; the company will not receive any proceeds from this portion, as all proceeds will go to the respective Selling Shareholders after deducting offer-related expenses.
3 of 6 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Vedant poly Fabs
Vedant Poly Fabs Limited was incorporated as Vedant Poly Fabs Private Limited on December 10, 2018 at Kolkata, West Bengal. Its shareholders passed a special resolution at an Extra-Ordinary General Meeting on August 07, 2025 to convert it into a public limited company, and the Registrar of Companies issued a fresh certificate of incorporation dated August 21, 2025. The company manufactures flexible packaging materials at its unit at 6/1/Q Digberia Road, Barasat, West Bengal. Its main raw materials are LDPE plastic granules, metallocene plastic granules and polyester film. Its operations include extrusion, printing, lamination, slitting, pouching, quality inspection and dispatch. Customers place orders mainly by verbal communication, and the company is moving to record orders through purchase orders. Revenue from operations was Rs. 3,028.78 lakhs for the stub period April 01, 2026 to June 30, 2026, Rs. 11,513.91 lakhs for FY2026, Rs. 8,102.12 lakhs for FY2025 and Rs. 4,953.46 lakhs for FY2024. West Bengal accounted for 95.81% of revenue in the stub period and 96.80% in FY2026.
Management
Ravi Todi
Director
Puja Shaw
Director
Strengths
As stated in the offer document
Integrated Manufacturing Operations
The company carries out multiple production stages — extrusion, printing, lamination, slitting, and rewinding — within a single in-house facility, enabling coordinated production planning and structured material flow aligned with customer specifications.
Quality Control Mechanism
The company maintains an in-house laboratory with testing equipment (Dart Impact Tester, COF Tester, Universal Testing Machine, etc.) and conducts multi-stage quality checks; quality control expenditure stood at Rs. 6.00 Lakhs in Fiscal 2026 (0.06% of total expenses).
Strategic Locational Advantage
The company's manufacturing facility in Barasat, West Bengal offers proximity to raw material suppliers and connectivity to key Eastern Indian states (UP, Bihar, Jharkhand, Assam), enabling shorter lead times and faster order fulfilment.
Diversified Product Portfolio and Product Development Capabilities
The company manufactures multilayer LD films, printed laminates, milk pouches, shrink films, and aluminium foil laminates, with new products added in 2023 and 2024, reducing dependence on any single product category.
In-House Transportation and Logistics Capability
The company operates its own fleet of 8 vehicles for finished goods delivery, reducing reliance on third-party logistics, lowering transportation costs, and enabling flexible dispatch scheduling; transportation expenses were Rs. 16.08 Lakhs in Fiscal 2026.
Direct Sales Model and Established Customer Relationships
The company follows a direct B2B sales model with no intermediaries; revenue from existing customers accounted for 97.97% (Rs. 2,967.37 Lakhs) of total revenue in the stub period April–June 2026, reflecting strong repeat business.
Operational Workforce
The company employs 61 personnel (as of June 30, 2026) across sales, design, production, dispatch, quality control, and administration, supporting end-to-end manufacturing and order execution within the organisation.
Risk factors
As stated in the offer document
Dependence on Key Customers with High Revenue Concentration
The company derives a substantial portion of revenue from a limited number of customers, with the top ten customers contributing 79.33%, 69.64%, 30.15%, and 13.49% of total sales for the periods ended June 30, 2026, March 31, 2026, March 31, 2025, and March 31, 2024, respectively. The loss of any key customer could result in a significant decline in sales, disrupted cash flow, and impaired operational stability.
Raw Material Price Volatility and Supplier Dependency
The company is heavily dependent on key raw materials — LDPE Plastic Granules, Metallocene Plastic Granules, and Polyester Film — which constituted 57.96% to 77.90% of revenue from operations across reported periods. Price fluctuations driven by commodity markets, currency movements, and supply disruptions could significantly compress profit margins and affect financial performance.
Significant Working Capital Requirements and Negative Cash Flows
The company's working capital requirements have grown substantially, rising from Rs. 714.71 Lakhs in FY2024 to Rs. 5,152.13 Lakhs as of June 30, 2026, with negative operating cash flows recorded in FY2025 (Rs. -345.55 Lakhs) and the stub period ended June 2026 (Rs. -1,146.38 Lakhs). Inability to secure adequate working capital financing could hinder timely order execution and adversely affect business operations.
High Indebtedness and Deteriorating Liquidity Ratios
The company's total outstanding indebtedness increased significantly from Rs. 635.24 Lakhs in FY2024 to Rs. 4,681.54 Lakhs in FY2026, with a Debt-to-Equity ratio of 1.11 as of March 2026. Cash ratios remained critically low at 0.01 for most periods, indicating insufficient liquid assets to cover current liabilities and posing default risk.
Geographic Revenue Concentration in West Bengal
Over 95% of the company's revenue is derived from West Bengal, with the state contributing 95.81%, 96.80%, 97.90%, and 98.64% of total revenue across the reported periods. Any adverse political, competitive, or economic developments in this region could materially impact revenues and profitability.
Declining Operational Efficiency Ratios
The company's Working Capital Turnover Ratio has declined sharply from 14.17 in FY2024 to 1.39 in the stub period ended June 2026, while the Inventory Turnover Ratio fell from 10.01 to 1.37 over the same periods. These trends indicate growing inefficiencies in asset utilization that could lead to liquidity constraints and increased borrowing costs.
Legal and Financial Proceedings Involving Promoter-Related Entities
A Debt Recovery Tribunal (DRT) summons has been issued against JMV Polymer Limited — linked to Promoter relatives — for an outstanding amount of Rs. 23,62,99,296, with SARFAESI and DRT actions pending. These proceedings could adversely affect the company's reputation, investor confidence, and operational stability.
Company Analysis
from RHPVedant Poly Fabs Limited manufactures flexible packaging materials from plastic-based raw materials for customers across industries.
Vedant Poly Fabs Limited was incorporated as Vedant Poly Fabs Private Limited on December 10, 2018 at Kolkata, West Bengal. Its shareholders passed a special resolution at an Extra-Ordinary General Meeting on August 07, 2025 to convert it into a public limited company, and the Registrar of Companies issued a fresh certificate of incorporation dated August 21, 2025. The company manufactures flexible packaging materials at its unit at 6/1/Q Digberia Road, Barasat, West Bengal. Its main raw materials are LDPE plastic granules, metallocene plastic granules and polyester film. Its operations include extrusion, printing, lamination, slitting, pouching, quality inspection and dispatch. Customers place orders mainly by verbal communication, and the company is moving to record orders through purchase orders. Revenue from operations was Rs. 3,028.78 lakhs for the stub period April 01, 2026 to June 30, 2026, Rs. 11,513.91 lakhs for FY2026, Rs. 8,102.12 lakhs for FY2025 and Rs. 4,953.46 lakhs for FY2024. West Bengal accounted for 95.81% of revenue in the stub period and 96.80% in FY2026.
Objects of the Issue
- Funding incremental working capital requirements of our Company 2,461.04 lakhs p.138
- Prepayment or repayment of all or a portion of certain secured or/and unsecured outstanding borrowings availed by the company 800.00 lakhs p.138
- Funding capital expenditure for purchase and installation of plant and machinery at its existing manufacturing facility 651.29 lakhs p.138
- General corporate purposes [●] p.155
- Offer related expenses [●] p.155
Issue Structure
- Total Issue
- Up to 60,30,000 Equity Shares of face value of ₹ 10/- each of our Company aggregating up to ₹ [●] lakhs
- Fresh Issue
- Upto 54,26,400 Equity Shares of face value of ₹ 10/- each of our Company aggregating up to ₹ [●] lakhs
- Offer for Sale
- Upto 6,03,600 Equity Shares of face value of ₹ 10/- each of our Company aggregating up to ₹ [●] lakhs
- Price Band
- Floor Price ₹ 88 per Equity Share; Cap Price ₹ 94 per Equity Share
- Lot Size
- 1200 equity shares of face value of Rs. 10 each (Bid Lot stated as 2400 equity shares and multiples of 1200 thereafter)
- Face Value
- ₹ 10/- each
Business Model
The company earns revenue by manufacturing and selling flexible packaging materials to customers who use them to package their own products. Customers receive credit terms, so trade receivables form a large part of current assets. Sales are concentrated: the top ten customers contributed 79.33% of total sales in the stub period. Some sales and purchases also run through related parties, including Sethsawaria Poly Fab LLP.
Business Segments
SWOT Analysis
- • Revenue from operations rose from ₹4,953.46 lakh in FY2024 to ₹11,513.91 lakh in FY2026.(p.87)
- • Profit for the year rose from ₹63.59 lakh in FY2024 to ₹1,096.62 lakh in FY2026.(p.87)
- • Organizational stability and management expertise(p.159)
- • Established reputation and customer relationships(p.159)
- • Focus on consistently meeting quality standards(p.159)
- • Well established manufacturing facility for a wide range of products(p.159)
- • Experienced management team and motivated workforce(p.159)
- • Revenue from operations grew from FY2024 to FY2026(p.163)
- • Operating EBITDA margin rose to 16.50% in FY2026 from 2.60% in FY2024(p.163)
- • Manufacturing is integrated in one in-house facility (extrusion, printing, lamination, slitting, rewinding)(p.196)
- • Plant is close to some raw material suppliers, shortening inbound lead times(p.198)
- • Direct sales model with repeat orders from existing customers(p.198)
- • Existing customers contributed most revenue in each period shown(p.199)
- • Product range spans several flexible packaging types, reducing reliance on one product(p.198)
- • EBITDA margin rose from 2.99% in FY2024 to 16.66% in FY2026(p.195)
- • Holds HACCP, ISO 9001:2015 and ISO 22000:2018 certifications, valid to December 2027(p.209)
- • Operates as a flexible printed packaging manufacturer(p.296)
- • Revenue from operations rose from INR 4,953.46 lakh (FY24) to INR 11,513.91 lakh (FY26)(p.294)
- • Net profit ratio rose from 1.28% (FY24) to 11.48% (quarter ended June 2026)(p.314)
- • Statutory auditors reported no qualifications requiring restatement adjustments for any period presented(p.291)
- • Company confirms it has not been declared a wilful defaulter by any bank or lender(p.316)
- • Board states a governance framework of an independent board with three non-executive independent directors, two of them women(p.260)
- • ISO 9001:2015, ISO 22000:2018 and HACCP certifications(p.326)
- • Integrated in-house manufacturing across extrusion, printing, lamination, slitting and pouching(p.326)
- • Revenue from operations grew 42.11% in FY2026(p.337)
- • Added 76 new customers in FY2026(p.337)
- • Blended EBITDA margin rose to 16.66% in FY2026(p.341)
- • Cash profit (PAT plus depreciation) rose to ₹1,351.47 lakhs in FY2026(p.339)
- • Trade receivable days reduced from about 134 to about 90(p.327)
- • Average outstanding receivable days are high, at 124 days in the latest period and 134 days in another reported period.(p.61)
- • Cash flows and liquidity depend heavily on collecting receivables from customers on credit terms.(p.68)
- • The business depends on the Promoters, Directors and Key Managerial Personnel.(p.61)
- • Internal control weaknesses could cause record-keeping errors and inventory mismatches.(p.61)
- • Secured bank debt is backed by personal guarantees from Promoters, and their withdrawal could force repayment or termination of facilities.(p.62)
- • Advances for materials and staff are unsecured and may not be fully recovered, which could lead to write-offs.(p.66)
- • All manufacturing takes place at a single facility, so disruption there affects total production.(p.67)
- • Related party transactions were 41.00% of revenue from operations in FY2026, and the company expects to continue them.(p.93)
- • Single manufacturing unit concentrates all production in one location(p.152)
- • High outstanding borrowings of ₹4,481.13 lakhs as at June 30, 2026(p.147)
- • Higher concentration of purchases among top suppliers in FY2026(p.143)
- • Business is working capital intensive(p.140)
- • Fund requirements for the Objects are not appraised by any bank or financial institution(p.139)
- • Revenue is concentrated in the Eastern India region(p.195)
- • West Bengal alone accounted for 96.80% of FY2026 revenue(p.196)
- • Largest customer contributed 15.55% of FY2026 sales(p.199)
- • One supplier provided 47.04% of FY2026 purchases(p.203)
- • All manufacturing runs from a single unit(p.210)
- • Capacity utilisation was 35.75% in FY2024 and 71.64% in FY2026(p.210)
- • High employee attrition, with 24.39% in FY2026 and 23.08% in FY2025(p.216)
- • Related party JMV Polymer Limited operates in a similar line of business(p.204)
- • Dependence on a few customers and suppliers. Top 5 customers were 60.18% of FY2026 sales and 72.10% in the stub period(p.346)
- • Revenue concentrated in West Bengal, at 95.81% of stub-period revenue(p.335)
- • Single business and manufacturing location at Barasat, West Bengal(p.358)
- • Total debt of ₹4,481.13 lakhs against net worth of ₹4,560.38 lakhs (debt/equity 0.98)(p.347)
- • Short-term borrowings more than tripled in FY2026, to ₹3,482.62 lakhs(p.327)
- • Operating cash flow was negative (₹1,146.38 lakhs) in FY2026(p.340)
- • Quick ratio below 1.00 at 0.88 in FY2026(p.330)
- • Dependence on retaining key staff and partner tie-ups, as listed among business risks(p.331)
- • Income tax demand of ₹185.84 lakhs against the Company is still pending(p.355)
- • The India flexible packaging market is forecast to grow at 11.46% CAGR, from USD 20.41 billion in 2025 to USD 35.11 billion by 2030.(p.65)
- • Demand for multilayer flexible packaging in India is growing at 6.8% CAGR, driven by food and pharmaceutical companies adopting high-barrier packaging.(p.66)
- • The India milk packaging market is growing at 6.3% CAGR, supported by dairy consumption and packaging hygiene awareness.(p.66)
- • The document describes India's economic momentum as strong, supported by domestic demand and macroeconomic stability.(p.65)
- • The company plans to expand its product portfolio and introduce new products.(p.72)
- • Capacity expansion to meet anticipated rise in demand from FMCG, food processing, agriculture, pharma and industrial customers(p.152)
- • Proposed new machinery adds installed capacity(p.152)
- • Global flexible packaging market projected to grow at a 5.2% CAGR(p.185)
- • Rising preference for pouch formats, sachets, wraps and films(p.185)
- • Mono-materials expected to dominate eco-friendly packaging by 2030(p.189)
- • Rising demand for lightweight, convenient packaging drives flexible packaging growth in India(p.189)
- • Producers are expanding pouch, bag and film capacity in India(p.190)
- • India multilayer flexible packaging demand projected to grow at 6.8% CAGR, driven by high-barrier packaging(p.191)
- • Shift from loose to packaged milk supports milk film demand(p.191)
- • Demand for recyclable and eco-friendly packaging is rising(p.191)
- • Company added lamination, slitting and pouching machines to expand capacity(p.195)
- • Expansion of sales outside West Bengal, with other states growing(p.335)
- • Shift from low-margin trading to manufacturing, which the Company says earns higher value addition(p.340)
- • Management expects raw material supply and price volatility to ease(p.331)
- • IPO proceeds expected to strengthen working capital and liquidity(p.331)
- • Electronics hardware manufacturing (the Company's sector) permits 100% FDI under the automatic route(p.445)
- • Shift toward alternative and sustainable packaging materials could reduce demand for the company's products.(p.62)
- • Restrictions or bans on plastic products could force process changes, higher compliance costs, or lower demand.(p.74)
- • Unorganised competitors offering lower prices create pricing pressure.(p.70)
- • A slowdown in India's economic growth could reduce demand for the company's products.(p.73)
- • Faster wage growth in India than in developed economies could increase employee costs and erode margins.(p.79)
- • Dependence on external utility providers exposes operations to risks beyond the company's control.(p.71)
- • Changes in laws and regulations across central and state governments could affect the business.(p.75)
- • Raw material price fluctuations affect supplier credit terms(p.143)
- • Funding requirements exposed to external cost and rate factors(p.139)
- • Cumulative US tariff burden of 50% on most affected Indian exports(p.181)
- • Capital outflows could weaken the rupee and pressure forex reserves(p.185)
- • Global growth risks tilted to the downside from trade tensions(p.174)
- • Extended Producer Responsibility rules require recycled content in rigid plastics(p.188)
- • Plastic Waste Management Rules impose EPR, collection and recycling duties on producers(p.223)
- • Competition intensifying in PET recycling through joint ventures near key manufacturing hubs(p.188)
- • Numerous organised and unorganised players compete in the flexible packaging industry(p.217)
- • Low-cost small manufacturers add non-recyclable multi-layer packaging to the market(p.190)
- • Changes in government policies could result in higher taxes(p.331)
- • Changes in laws and regulations affecting the industries the Company operates in(p.331)
- • Impact of the Russia-Ukraine and Israel-Hamas wars on operations(p.331)
- • Inflation, deflation and interest rate movements(p.331)
- • Availability and pricing of key raw materials(p.330)
- • Performance of competitors(p.331)
- • Rising borrowing costs: exposure to interest rate risk on outstanding loans(p.345)
- • Natural or man-made disasters could hurt results(p.331)
- • Rapid technological change may outpace the Company(p.331)
- • Foreign investment from land-border countries needs prior Government approval(p.445)
- • Changes in laws or regulations after the RHP date are outside the Company's and BRLM's liability(p.446)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Pankaj Kumar Maheshwari | Promoter | — | — |
| Sujata Maheshwari | Promoter | — | — |
| Sethsawaria Poly Fab LLP | Promoter & Selling Shareholder | — | — |
| Pankaj Kumar Maheshwari | Promoter | 4.00% | — |
| Sujata Maheshwari | Promoter | 4.00% | — |
| Sethsawaria Poly Fab LLP | Promoter | 90.00 | — |
| Pankaj Kumar Maheshwari | Promoter | 4.00 | — |
| Sujata Maheshwari | Promoter | 4.00 | — |
| Sethsawaria Poly Fab LLP | Promoter and Selling Shareholder | 90.00 | — |
| Anil Kumar Maheshwari | Promoter Group | 2.00 | — |
| Devansh Maheshwari | Promoter Group | Negligible | — |
| Pankaj Kumar Maheshwari | Promoter / Promoter Group (Chairman & Managing Director) | 4.00 | — |
| Sujata Maheshwari | Promoter / Promoter Group (Whole Time Director) | 4.00 | — |
| Sethsawaria Poly Fab LLP | Promoter | — | — |
| Mr. Pankaj Kumar Maheshwari | Promoter | 4.00% | — |
| Mrs. Sujata Maheshwari | Promoter | 4.00% | — |
| M/s. Sethsawaria Poly Fab LLP | Promoter (Corporate Promoter) | 90.00% | — |
| Pankaj Kumar Maheshwari | Promoter | — | — |
| Pankaj Kumar Maheshwari | Promoter | — | — |
| Sujata Maheshwari | Promoter | — | — |
| Sethsawaria Poly Fab LLP | Corporate Promoter | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Vedant Poly Fabs THIS ISSUE | 2.36 | 30.97 | 13.62, computed at the offer price | 3.28, computed at the offer price | 30.52% |
| 14.24 | 180.16 | 14.11 | 1.11 | 7.90% | |
| 1.93 | 38.82 | 26.43 | 1.34 | 7.34% | |
RFBL Flexi Pack | 5.08 | 16.32 | 17.79 | 5.63 | 31.11% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.