NSE SME Vedant Poly Fabs makes a flat landing

Vedant Poly Fabs traded at Rs 89.30 on the NSE, a 5% discount to its issue price of Rs 94.

The scrip was listed at Rs 94, matching the issue price. The stock is currently frozen at its lower limit of 5% from its listing price.

The counter hit a high of Rs 94 and a low of Rs 89.30. About 7.74 lakh shares changed hands on the NSE.

Vedanta Poly Fabs' IPO was subscribed 1.85 times. The issue opened for subscription on 2 November 2026 and it closed on 4 November 2026. The price band was Rs 88-94 per share.

The IPO comprised a fresh issue of 54.26 lakh shares aggregating to approximately Rs 51.01 crore and an offer for sale (OFS) of 6.04 lakh shares worth around Rs 5.67 crore. The total issue size stood at approximately Rs 56.68 crore. The OFS comprises 6.04 lakh shares offered by promoter entity Sethsawariya Poly Fab LLP. The promoter and promoter group shareholding declined to 70.08% after the IPO from 100% before the issue.

The company plans to utilise Rs 24.61 crore of the IPO proceeds towards funding its incremental working capital requirements. A further Rs 8 crore will be used for repayment or prepayment of certain outstanding secured and unsecured borrowings. Additionally, Rs 6.51 crore will be allocated towards capital expenditure for the purchase and installation of plant and machinery at its existing manufacturing facility. The remaining proceeds will be utilised for general corporate purposes and issue-related expenses.

Vedant Poly Fabs is a West Bengal-based manufacturer of flexible packaging materials, catering primarily to business-to-business (B2B) customers across India. Incorporated in December 2018, the company offers a diversified portfolio of packaging products, including three-layer and five-layer low-density polyethylene (LDPE) films, shrink films, barrier films, printed laminates, and milk and oil pouches. Its products cater to industries such as food and beverages and other consumer goods.

The company follows an integrated manufacturing process covering raw material procurement, film extrusion, printing, lamination, slitting, quality control, packaging and dispatch. In March 2026, it expanded its manufacturing capabilities by installing additional lamination, slitting and pouching machines, along with a reprocessing unit to improve resource utilisation and recycle manufacturing waste.

As of 30 June 2026, the company had a workforce of 61 employees across its manufacturing facility and office operations. Its key strengths include an integrated manufacturing setup, a diversified product portfolio, quality control systems and customised product development capabilities.

For FY2026, Vedant Poly Fabs reported total income of Rs 115.31 crore, compared with Rs 81.58 crore in FY2025, registering an increase of approximately 41%. Profit after tax (PAT) increased to Rs 10.97 crore in FY2026 from Rs 4.56 crore in FY2025. EBITDA rose to Rs 19 crore from Rs 7.74 crore in the previous financial year.

For the three months ended 30 June 2026, the company reported total income of Rs 30.49 crore and PAT of Rs 3.48 crore. EBITDA stood at Rs 6.59 crore, while total borrowings were Rs 44.81 crore and net worth stood at Rs 45.60 crore.

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