Vandan Foods is a growing name in the castor oil and derivatives segment, catering to both Indian and international markets. The company emphasizes operational efficiency through structured management, skilled employees, and robust control systems.

IPO Details Summary

GMP (Grey Market Premium) Update

• Current GMP: ₹0

• Issue Price: ₹115

• Expected Listing Price: ₹115

• Estimated Listing Gain: 0%

Note: GMP reflects unofficial investor sentiment and is speculative.

About the Company

• Key product: Castor oil and its derivatives

• Market: Domestic & Export (India, global partners)

• Known for: Efficient control systems, well-structured operational processes, and experienced promoters

Promoter Background

The founding team includes:

• Kalpeshkumar Bhagavandas Thakkar

• Rakeshkumar Rameshbhai Patel

• Jitendra Rameshbhai Patel

• Jyotsana Jitendrabhai Patel

Together, they bring 10+ years of experience in agriculture and derivatives, actively handling sales, purchase, plant ops, and finance.

Financial Performance (₹ in Lakh)

The financials show exponential growth, turning from a loss in FY22 to a strong profit in FY25.

Valuation & Key Ratios

The valuation is aggressive at post-issue levels despite strong growth.

Use of IPO Proceeds

The company plans to use the funds for:

• Working capital

• Business expansion

• General corporate expenses

Should You Apply to Vandan Foods IPO?

Positives:

• Rapid financial growth

• High return metrics (ROE, ROCE)

• Emerging exporter in a niche segment

Concerns:

• No GMP, suggesting tepid investor interest

• Valuation is expensive vs. peers (P/E 36.47x vs. 15x industry)

• Small scale business with a short track record of profitability

Expert View:
While the company’s growth story is attractive, lack of GMP and stretched valuation make it less attractive for short-term listing gains. Cautious investors may wait for post-listing performance or consider it only with a long-term view.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are advised to consult with certified financial advisors and read all documents carefully before making investment decisions. Market conditions are subject to change.

The Upcoming IPOs in this week and coming weeks are Crizac, Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Adcounty Media India, Marc Loire Fashions, Neetu Yoshi.

The Current active IPO are Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences, Suntech Infra Solutions, Rama Telecom, Supertech EV, Sambhav Steel Tubes, HDB Financials, Abram Food, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Globe Civil Projects, Ellenbarrie Indutrial Gases, Kalpataru, AJC Jewel.

The Closed IPOs are Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Mayasheel Ventures.

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