SME
IPO ·
NSE Emerge
Vaibhav Vyapaar Ltd
Listed
Kolkata NBFC offering unsecured digital personal loans via its LoanFront app.
Issue details
Price band
₹51 – ₹54
Face value
₹5
Lot size
2,000 shares
Minimum investment
₹2,16,000
Issue size
₹42.10 Cr
Fresh issue
₹42.10 Cr
Offer for sale
—
Issue type
Book Built
Exchange
NSE Emerge
Key dates
Opens
13 Oct 2026
Closes
15 Oct 2026
UPI mandate cut-off
5:00 PM on 15 Oct 2026
Allotment
16 Oct 2026
Refunds
19 Oct 2026
Shares in demat
19 Oct 2026
Listing
21 Oct 2026
Subscription and listing
Subscription
3.23x
Listing price
₹52.90
Registrar
KFin Technologies Ltd
Lead manager
GetFive Advisors Pvt Ltd
Subscription by category
QIB (Ex Anchor)
1.61x
NII *
6.65x
bNII (> ₹10L)
7.87x
sNII (< ₹10L)
4.20x
Individual Investor
2.70x
Total
3.23x
Total applications
2,293
Anchor investors
Amount raised
₹11.88 Cr
Bid date
12 Oct 2026
50% lock-in ends
14 Nov 2026
Rest lock-in ends
13 Jan 2027
Listing day
Issue price
₹54
Open
₹52.90
High
₹53.90
Low
₹50.30
Day close
₹53.05
Listing gain at open
-2.04%
Issue structure
Shares reserved per category and share of the total issue
QIB
36,94,000
47.38%
Anchor Investor
22,00,000
28.22%
QIB (Ex. Anchor)
14,94,000
19.16%
NII
11,16,000
14.32%
bNII > ₹10L
7,44,000
9.54%
sNII < ₹10L
3,72,000
4.77%
Retail
25,96,000
33.30%
Market Maker
3,90,000
5.00%
Total
77,96,000
100.00%
Finaccle’s quick read
Avoid
FY26 PAT was only ₹1.97 Cr with ROE of 6.99% and a 5.36% PAT margin, debt/equity was 1.60 at March 2026, and pre-issue P/E was 53.61x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Vaibhav Vyapaar is a Kolkata-based NBFC that gives unsecured personal loans to salaried and self-employed borrowers through its LoanFront digital app. It also co-lends with other NBFCs and provides lending technology to them. It is small, with 56 staff and AUM of ₹812.41 Cr as of July 2026.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
6.99%
ROCE
26.99%
Debt / equity
1.60
PAT margin
5.36%
P/E post issue
16.25
Market cap
₹146.55 Cr
Use of IPO money
Augment capital base
₹32.00 Cr
General corporate purposes
—
Strengths
✓
Digital lending platform with co-lending partnerships
✓
Income up 48% in FY26
✓
Entirely fresh issue to build capital
✓
Debt/equity eased to 0.80 by July 2026
Risks to watch
!
Very small profit base: FY26 PAT only ₹1.97 Cr
!
ROE of 6.99% and PAT margin of 5.36% are weak
!
Unsecured personal loans carry high credit risk
!
Pre-issue P/E of 53.61x on FY26 earnings
!
Low QIB demand at 1.61x
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.