Vandan Foods IPO open date is June 30, 2025 and the IPO will close on July 2, 2025.
The company reported revenue of ₹48.73 crores and profit of ₹2.64 crores in 2024.
Vandan Foods Limited was established in December 2015 and transitioned from catering to agro commodity trading, and now focuses on castor oil manufacturing since FY2024. It became a public limited company in September 2023.
Vandan Foods IPO Details
| IPO Open Date: | June 30, 2025 |
| IPO Close Date: | July 2, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹115 Per Share |
| Issue Size: | Approx ₹30.36 Crores |
| Fresh Issue: | Approx ₹30.36 Crores |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE SME |
| Retail Quota: | Not more than 50% |
| NII Quota: | Not more than 50% |
Vandan Foods IPO Market Lot
The Vandan Foods IPO minimum market lot is 1200 shares with ₹1,38,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 1200 | ₹1,38,000 |
| Retail Maximum | 1 | 1200 | ₹1,38,000 |
| S-HNI Minimum | 2 | 2,400 | ₹2,76,000 |
Vandan Foods IPO Dates
The Vandan Foods IPO date is June 30 and the close date is July 2.
| IPO Open Date: | June 30, 2025 |
| IPO Close Date: | July 2, 2025 |
| Basis of Allotment: | July 3, 2025 |
| Refunds: | July 4, 2025 |
| Credit to Demat Account: | July 4, 2025 |
| IPO Listing Date: | July 7, 2025 |
Vandan Foods IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹1.61 | ₹1.75 | ₹0.11 | ₹4.20 |
| 2023 | ₹11.59 | ₹10.73 | ₹0.64 | ₹4.74 |
| 2024 | ₹48.73 | ₹45.20 | ₹2.64 | ₹12.12 |
| December 2024 | ₹72.66 | ₹66.60 | ₹4.54 | ₹31.69 |
Vandan Foods IPO Valuation – FY2024
| KPI | Values |
| ROE: | 45.41% |
| ROCE: | 37.33% |
| EBITDA Margin: | 7.48% |
| PAT Margin: | 5.43% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹4.64 (Basic) |
| Price/Earning P/E Ratio: | 24.78 |
| Return on Net Worth (RoNW): | 27.92% |
| Net Asset Value (NAV): | ₹16.62 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| NK Industries Limited | (1.71) | NA | 0.34% | (572.66) | (344.10)Cr. |
| Jayant Agro-Organics Limited | 17.59 | 14.98 | 10.12% | 181.07 | 543.21 Cr. |
Vandan Foods IPO Business Overview
Vandan Foods operates a B2B business manufacturing Refined F.S.G. Castor Oil and Castor De-Oil Cake. The company’s products are used in lubricants, cosmetics, and industrial chemicals, with distribution across Gujarat, Delhi, Rajasthan, and more.
Products: Refined F.S.G. Castor Oil and Castor De-Oil Cake.
Model: Purely B2B.
Facilities: Operates a processing plant at Dhinoj, Gujarat.
Expansion: The IPO will support the expansion of its manufacturing facilities.
Industry & Market Overview
India leads the global castor oil market, which is projected to grow from USD 1.4 billion (2022) to USD 2.3 billion by 2032. Demand is driven by pharmaceuticals, cosmetics, and sustainable bio-materials.
- Industry: Agro-processing with a focus on castor oil, where India is the global leader.
- Market Dynamics:
- Increasing demand for castor oil in industrial and pharmaceutical sectors.
- Rising global demand in bio-based plastics and lubricants.
- Competition: Fragmented industry with both organized and unorganized players.
- Growth Drivers: Sustainability trends, rising global demand, and India’s production dominance.
Promoter & Management Analysis
Promoters include Mr. Kalpeshkumar Thakkar and family, with no reported legal issues. Combined, they held over 50% pre-issue equity. Promoters are actively involved in daily operations.
- Promoters:
- Mr. Kalpeshkumar Bhagavandas Thakkar (Executive Director)
- Mr. Rakeshkumar Rameshbhai Patel (Chairman, Non-Executive Director)
- Mr. Jitendra Rameshbhai Patel (Managing Director)
- Mrs. Jyotsana Jitendrabhai Patel
- Kalpesh Kumar Thakkar HUF
Objects of the Issue
IPO proceeds will be used for working capital, repaying borrowings, plant expansion at Dhinoj, general corporate purposes, and IPO-related expenses.
- Working Capital Requirements
- Repayment/Prepayment of certain borrowings
- CAPEX for Dhinoj Facility expansion
- General Corporate Purposes
- Issue-related expenses
Vandan Foods IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Company Address
Vandan Foods Limited
503/B, Wall Street-1, Opp
Orient Club, Nr. Rly. Crossing,
Ellisbridge
Ahmedabad, Gujarat, 380006
Phone: 91-8980121363
Email: cs@vandanfoods.in
Website: http://www.vandanfoods.in/
Vandan Foods IPO FAQs
What does Vandan Foods do?
It manufactures refined castor oil and its derivatives, operating in the B2B space.
When Vandan Foods IPO will open for subscription?
The IPO is to open on June 30, 2025 for QIB, NII, and Retail Investors. The IPO will close on July 2, 2025.
What is Vandan Foods IPO Investors Portion?
The investors’ portion for QIB is 00%, NII is 50%, and Retail is 50%.
What is Vandan Foods IPO Issue Size?
Vandan Foods IPO issue size is ₹30.36 crores.
What is Vandan Foods IPO Price Band?
Vandan Foods IPO Price Band is ₹115.
What is Vandan Foods IPO Lot Size?
The minimum bid is 1200 Shares with ₹1,38,000 amount.
What is the Vandan Foods IPO Allotment Date?
Vandan Foods IPO allotment date is July 3, 2025.
What is the Vandan Foods IPO Listing Date?
Vandan Foods IPO listing date is July 7, 2025. The IPO is to list on BSE.
Vandan Foods IPO Financial Highlights FY22–FY24
Revenue grew from ₹282.30 lakh in FY22 to ₹4,036.01 lakh in FY24. FY24 net profit stood at ₹162.75 lakh with an EBITDA margin of 6.15% and ROCE of 21.99%.
Vandan Foods IPO Cash Flow Summary
Despite profitability, FY24 saw negative cash flow from operations (₹-94.77 lakh) due to increased working capital needs. Financing cash flow was positive, driven by debt.
Vandan Foods IPO Key Risk Factors
Risks include revenue concentration, reliance on castor oil segment, volatile raw material pricing, no long-term customer contracts, and negative cash flow despite profits.
Vandan Foods IPO Related Party Transactions
Transactions include rent to a promoter’s relative and sales to KT Associates. No materially suspicious or high-conflict transactions were found.
Vandan Foods IPO Peer Comparison & Valuation Insight
Peer data and valuation multiples like P/E, EV/EBITDA are not provided in DRHP. Valuation fairness can only be assessed after price band disclosure.
Vandan Foods IPO Potential Red Flags
Red flags include negative operating cash flow, sudden jump in profits before IPO, and heavy reliance on promoter-driven operations. No OFS or auditor issues reported.