Vahh Chemicals Limited is an ISO 9001:2015 certified company engaged in the manufacturing, supplying, blending, and trading of textile auxiliary chemicals. The company caters mainly to the textile industry by offering chemicals used in key textile processing stages such as pre-treatment, dyeing, printing, and finishing.
Its major customer base includes dyeing and printing houses, where it provides customized chemical formulations designed to improve fabric quality, texture, colour vibrancy, and durability.
As of March 31, 2026, Vahh Chemicals had a product portfolio of 114 SKUs across multiple categories, including pre-treatment chemicals, dyeing auxiliaries, printing auxiliaries, finishing chemicals, and specialty chemicals. These products are used across textile substrates such as cotton, polyester, silk, and synthetic blends. The company also offers specialty chemicals that provide functional benefits like water repellence, flame resistance, anti-microbial properties, UV absorption, and wrinkle-free finishing.
The company operates primarily on a B2B business model and has built a strong distribution network in Surat, Gujarat. Its manufacturing facility spans around 301.25 square meters.
Vahh Chemicals operates through three key business segments:
- Trading – Distribution of textile chemicals, including pre-treatment, dyeing, printing, and finishing chemicals.
- Blending – Customized chemical blends developed as per customer requirements to enhance textile quality and performance.
- Nutrition – Nutraceutical products through its subsidiary HSHS Nutraceuticals Limited, marketed under the brand Divine Nutrition across online platforms, supplement stores, and gym distributors.
Vahh Chemicals IPO – Details
| IPO Opening Date | 04 June 2026 |
| IPO Closing Date | 08 June 2026 |
| Issue Type | Fixed Price IPO |
| Issue Size | Total Issue: 22,42,000 Shares Worth ₹13.45 Crore Fresh Issue: 22,42,000 Shares Worth ₹13.45 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹60 per share |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Kfin Technologies Ltd. |
| NII Shares Offered | 50% |
| Retail Shares Offered | 50% |
Vahh Chemicals IPO – Date Schedule
| IPO Open Date | 04 June 2026 |
| IPO Close Date | 08 June 2026 |
| Basis of Allotment | 09 June 2026 |
| Initiation of Refund | 10 June 2026 |
| Credit of Shares to Demat | 10 June 2026 |
| IPO Listing Date | 11 June 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 08, 2026 |
Vahh Chemicals IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | ₹2,40,000 |
| Retail (Max) | 2 | 4000 | ₹2,40,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,60,000 |
Competitive Strength
- Long-standing relationships with a diversified customer base.
- Business Model focused on customized solutions and strong customer relationships.
- Experienced Promoters and management team.
Company Promoters
- Hiren Indravadan Desai
- Hetal Hirenbhai Desai
- Aayush Hiren Desai
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2025 | ₹23.75 Cr | ₹20.07 Cr | ₹2.58 Cr | ₹11.25 Cr |
| 31 March 2026 | ₹43.19 Cr | ₹36.24 Cr | ₹5.09 Cr | ₹11.31 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 34.11% |
| ROCE | 31.76% |
| Debt/Equity | 0.76 |
| RoNW | 32.21% |
| PAT Margin | 11.59% |
| EBITDA Margin | 19.06% |
| Price to Book Value | 2.44 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.39 | 6.13 |
| P/E (x) | 7.15 | 9.79 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding the incremental working capital requirements of the Company. | ₹5.84 |
| Setting up a new manufacturing facility at Surat, Gujarat (Proposed facility). | ₹1.93 |
| Repayment of the loan availed by the Company. | ₹1.84 |
| General Corporate Purposes. | ₹2.02 |
✅Strengths
- Textile-focused chemical player with a strong presence in textile auxiliaries and specialty chemicals.
- Wide product portfolio of 114 SKUs serving different textile processing needs.
- Customized blending capability helps meet specific customer requirements.
- Established a B2B customer network mainly in Surat’s textile market.
- Experienced promoter with over a decade of experience in textile chemicals.
- Diversified business through subsidiary HSHS Nutraceuticals in the nutrition segment.
⚠️Risks
- High dependence on the textile industry; a slowdown in textile demand can impact business.
- Business is largely concentrated in Surat, Gujarat, limiting geographic diversification.
- Customer concentration risk is the top 10 customers contribute a major share of revenue.
- Operates from leased properties, so renewal/non-renewal can affect operations.
- Delays in GST/TDS/statutory compliance reported in the past due to administrative lapses.
Vahh Chemicals IPO Promoter Holding
| Pre-Issue Share Holding | 88.52% |
| Post Issue Share Holding | 64.63% |
Vahh Chemicals IPO Prospectus
Company Contact Information
| Vahh Chemicals Limited Plot 2/5198 ETC, 5th Floor,5003, World Trade Centre, Near Udhna Darawaja Ring Road Surat, Gujarat, 395002 Phone: +91 26 1234 4045 Email: accounts@divinenutrition.in Website: https://vahhchemicals.com/ |
Vahh Chemicals IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: vcl.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Vahh Chemicals IPO Lead Manager(s)
| . Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. |
Vahh Chemicals IPO FAQ
| What is the Vahh Chemicals IPO? Vahh Chemicals IPO is an SME IPO. The issue is priced at ₹60 per equity share. The IPO is to be listed on BSE SME. |
| When will Vahh Chemicals IPO open? The IPO is to open on 04 June 2026 for QIB, NII, and Retail Investors. |
| What is Vahh Chemicals IPO Investors’ Portion? The investors’ portion for NII – 50%, and Retail – 50%. |
| What is the Vahh Chemicals IPO Size? Vahh Chemicals IPO size is ₹13.45 Crore. |
| What are the Vahh Chemicals IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 4000 Shares for ₹2,40,000, while the maximum bid is 4000 Shares for ₹2,40,000. |
| What is the Vahh Chemicals IPO Allotment Date? Vahh Chemicals IPO allotment date is 09 June 2026. |
| What is the Vahh Chemicals IPO Listing Date? Vahh Chemicals IPO listing date is 11 June 2026. The IPO is to be listed on the BSE SME. |
