Vama Wovenfab IPO
IPO Open Now
₹2,59,200 / 800 shares
Price Range: ₹324 – ₹341 per share
Bidding Dates15 Sept, 2026 – 17 Sept, 2026
Min Investment₹2,59,200
Lot Size400
Issue Size₹49.54 Cr.
IPO Overview
IPO Timeline
IPO Offer Start15 Sept, 2026
IPO Offer Ends17 Sept, 2026
Allotment Finalisation18 Sept, 2026
Refund Initiation21 Sept, 2026
Listing of Shares22 Sept, 2026
IPO Analysis
Strengths
- The company has established enduring, trust-based relationships with both customers and suppliers, ensuring consistent raw material supply, stable production, and reliable product delivery.
- The company centers on truly understanding customer needs through close collaboration before production begins, with all departments aligning their efforts around customer priorities to minimize errors and reduce waste.
- The company strictly adheres to planned schedules for production and dispatch, ensuring timely delivery of orders through proactive monitoring and prompt scheduling.
Risks
- The company derives a substantial portion of its revenues from limited buyers, with the top customer contributing 63.68% of revenue in FY 2026. This concentration in a commoditized, price-sensitive market exposes the company to significant cyclicality, demand volatility, and customer attrition risks that could materially impact revenues and profitability.
- The company operates without long-term agreements with customers, relying solely on purchase orders that provide no assurance of minimum offtake or fixed pricing. In the commoditized woven packaging industry, this exposes the company to potential revenue losses from customers shifting to competitors offering more favorable terms.
- The company's manufacturing operations depend heavily on polypropylene (PP) and high-density polyethylene (HDPE) granules, which are petroleum-derived products with prices directly linked to crude oil fluctuations. Industry reports indicate price swings of 20-40% within short durations, which could compress margins and adversely affect profitability.
Objects of the Issue
The company proposes to construct the remaining portion of the first floor to accommodate increased space requirements for additional machinery and enhanced production capacity. This expenditure will facilitate enhanced manufacturing operations and modernization on the first floor to accommodate new machinery and operational requirements enabling higher production volumes to meet growing customer demand.
The company plans to expand production by installing circular looms, cheese winders, and cheese pipers to significantly boost fabric production and maximize utilization of installed capacity. This capacity expansion will maximize utilization, streamline manufacturing, reduce costs through automation, and enable the company to meet growing market demand.
The company requires funds to meet its working capital requirement for its operations. The working capital needs of the company are expected to reach a significant amount in FY 2026-27, with a portion expected to be utilized from the Net Proceeds of this Offer and balance to be met from internal accruals and borrowings.
The company intends to deploy the balance Net Proceeds for general corporate purposes including strategic initiatives, brand building and strengthening of marketing activities, and on-going general corporate exigencies or any other purposes as approved by the Board subject to compliance with necessary regulatory provisions.
Yearly Financial Results
Standalone — ₹ Crores
| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue | 27.87 | 77.45 | 214.62 |
| Expenses | 24.38 | 68.84 | 199.28 |
| Other Income | 0.01 | 0.31 | 0.00 |
| Total Revenue | 27.87 | 77.76 | 214.62 |
| Profit Before Tax | 3.49 | 8.92 | 15.33 |
| Net Profit | 2.63 | 6.84 | 11.55 |
Balance Sheet
Standalone — ₹ Crores
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Total Assets | 37.14 | 67.47 | 74.18 |
| Current Assets | 32.39 | 59.38 | 66.48 |
| Fixed Assets | 4.75 | 8.09 | 7.70 |
| Total Equity & Liabilities | 37.14 | 67.47 | 74.18 |
| Total Liabilities | 28.09 | 50.33 | 45.48 |
| Current Liabilities | 26.25 | 47.18 | 42.89 |
| Non Current Liabilities | 1.84 | 3.14 | 2.59 |
| Total Equity | 9.05 | 17.15 | 28.69 |
Cash Flow
Standalone — ₹ Crores
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Net Cash Flow | 0.15 | -0.02 | 0.32 |
| Investing Activities | -0.36 | -3.56 | -0.12 |
| Operating Activities | 6.93 | -2.33 | -6.31 |
| Financing Activities | -6.42 | 5.87 | 6.75 |
About Vama Wovenfab
Vama Wovenfab Limited is an ISO 9001:2015 certified company primarily engaged in manufacturing and selling Polypropylene (PP)/ High Density Polyethylene (HDPE) Woven Sack Bags & Fabric based products of different weight, sizes and colours as per customer specifications. The company offers customised bulk packaging solutions to business-to-business (B2B) manufacturers catering.
Documents
Source: DRHP
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