Vandan Foods Limited is a rising agro-processing company specializing in the manufacturing of high-grade castor oil and organic fertilizers derived from castor seeds.
🌾 The company produces:
- Refined Castor Oil (F.S.G.): Used extensively in pharmaceuticals, cosmetics, resins, paints, textiles, and lubricants.
- Castor De-Oiled Cake: A natural, nitrogen-rich fertilizer that enhances soil health and promotes sustainable agriculture.
🌱 Vandan’s products are crafted using eco-conscious processes, aligning with green farming practices and reducing reliance on synthetic inputs.
🚀 With a strong focus on quality control, inventory management, and B2B supply chains, the company caters to industrial buyers across Gujarat, Haryana, Delhi, Rajasthan, Bihar, Andhra Pradesh, and Telangana.
📍 Originally incorporated in 2015 and headquartered in Ahmedabad, Gujarat, Vandan pivoted from trading to full-scale manufacturing in 2023 under new promoter leadership. Their production facilities are based in Dhinoj (Patan), Gujarat.
As of December 31, 2024, the company employs 16 full-time staff and continues to scale operations through working capital expansion, facility upgrades, and sustainable product lines.
Vandan Foods IPO – Details
| IPO Opening Date | 30 June 2025 |
| IPO Closing Date | 02 July 2025 |
| Issue Type | Fixed Price IPO |
| Issue Size | Total Issue: 26,40,000 Shares Worth ₹30.36 Crore Fresh Issue: 26,40,000 Shares Worth ₹30.36 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹115 |
| Market Lot | 1,200 |
| Min Order | 1,200 Shares ( 1 Lot ) |
| Listing At | BSE SME |
| Registrar | Bigshare Services Pvt Ltd |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Vandan Foods IPO – Date Schedule
| IPO Open Date | 30 June 2025 |
| IPO Close Date | 02 July 2025 |
| Basis of Allotment | 03 July 2025 |
| Initiation of Refund | 04 July 2025 |
| Credit of Shares to Demat | 04 July 2025 |
| IPO Listing Date | 07 July 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 02, 2025 |
Vandan Foods IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,38,000 |
| Retail (Max) | 1 | 1,200 | ₹1,38,000 |
| HNI (Min) | 2 | 2,400 | ₹2,76,000 |
Competitive Strengths
- Experienced Promoters and Management Team.
- Quality Control and Quality Assurance.
- Diversified business model and customer base.
- Scalable Business Model.
- Smooth flow of operations.
- Optimal Utilization of Resources.
Company Promoters
- Mr. Kalpeshkumar Bhagavandas Thakkar
- Mr. Rakeshkumar Rameshbhai Patel
- Mr. Jitendra Rameshbhai Patel
- Mrs. Jyotsana Jitendrabhai Patel
- Kalpesh Kumar Thakkar HUF
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2022 | ₹1.61 Cr | ₹1.75 Cr | -₹0.11 Cr | ₹3.45 Cr |
| 31 March 2023 | ₹11.59 Cr | ₹10.73 Cr | ₹0.64 Cr | ₹0.39 Cr |
| 31 March 2024 | ₹48.73 Cr | ₹45.20 Cr | ₹2.64 Cr | – |
| 31 December 2024 | ₹72.66 Cr | ₹66.60 Cr | ₹4.54 Cr | ₹13.89 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 45.41% |
| ROCE | 37.33% |
| RoNW | 27.92% |
| EBITDA Margin | 7.48% |
| Price to Book Value | 6.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.60 | 7.21 |
| P/E (x) | 24.98 | 15.94 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| To Meet Working Capital Requirements. | ₹8.57 |
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company. | ₹3.00 |
| Funding the capital expenditure requirement for expansion of the Dhinoj Facility (CAPEX). | ₹8.29 |
| General Corporate Expenses. | ₹7.51 |
Vandan Foods IPO Peer Comparison
| S.No. | Face Value | Company Name | P/E |
|---|---|---|---|
| 2 | 10 | NK Industries Limited | NA |
| 3 | 5 | Jayant Agro-Organics Limited | 14.98 |
✅Strengths
- B2B and B2C presence in castor oil & fertilizers.
- In-house manufacturing setup.
- Strong promoter experience in agro sector.
- Sustainable product focus.
⚠️Risks
- Fully leased office premises.
- High working capital needs.
- Customer concentration risk.
- No trademark/IP protection.
- Competitive, price-sensitive market.
Vandan Foods IPO Promoter Holding
| Pre Issue Share Holding | 96.94% |
| Post Issue Share Holding | 66.42% |
Vandan Foods IPO Prospectus
Company Contact Information
| 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 Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Vandan Foods IPO Lead Manager(s)
| 1.Nirbhay Capital Services Private Limited |
Vandan Foods IPO FAQ
| What is Vandan Foods IPO? Vandan Foods IPO is a SME IPO. The issue is priced at ₹115 per equity share. The IPO is to be listed on BSE SME. |
| When Vandan Foods IPO will open? The IPO is to open on 30 June 2025 for NII, and Retail Investors. |
| What is Vandan Foods IPO Investors Portion? The investors’ portion for NII – 50%, and Retail – 50%. |
| How to Apply the Vandan Foods IPO? You can apply Vandan Foods IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Vandan Foods IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Vandan Foods IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Vandan Foods IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Vandan Foods IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Vandan Foods IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Vandan Foods IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Vandan Foods IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Vandan Foods IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Vandan Foods IPO Size? Vandan Foods IPO size is ₹30.36 Crore. |
| What is the Vandan Foods IPO Price Band? Vandan Foods IPO Price Band is ₹115. |
| What is Vandan Foods IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1,200 Shares with ₹1,38,000amount while the maximum bid is 1,200 Shares with ₹1,38,000. |
| What is the Vandan Foods IPO Allotment Date? Vandan Foods IPO allotment date is 03 July 2025. |
| What is the Vandan Foods IPO Listing Date? Vandan Foods IPO listing date is 07 July 2025. The IPO is to be listed on the BSE SME. |
