ListedSMEFinance - NBFC
Vaibhav Vyapaar IPO Date, GMP, Review, Price, Allotment Details
Updated
Vaibhav Vyapaar listed on NSE Emerge on 21 Oct 2026. Its issue price was ₹54. The IPO was subscribed 3.8 times overall. Bidding ran from 13 Oct to 15 Oct 2026 with a lot size of 2,000 shares.
- Price band
- ₹51–54
- Lot size
- 2,000 shares
- Minimum investment
- ₹2,16,000 (2 lots)
- Bidding
- 13 Oct – 15 Oct 2026
- Listing
- 21 Oct 2026
- Issue size
- ₹42 crore
- Exchange
- NSE Emerge
- Registrar
- Kfin Technologies Limited
Vaibhav Vyapaar IPO GMP today
| Last GMP before listing | ₹3 per share |
|---|---|
| Price band (upper) | ₹54 |
| Implied listing price | ₹57 (+5.6%) |
| Last updated | 21 Oct 2026, 7:37 am IST |
What GMP means: the grey market premium is an unofficial price that some traders quote before listing. It is not regulated and not published by the exchanges.
GMP often changes sharply and is not a prediction of the listing price. For official demand, check the subscription figures on this page.
About Vaibhav Vyapaar
Vaibhav Vyapaar is a Kolkata-based non-banking finance company (NBFC) that gives small unsecured personal loans through its own digital app, LoanFront. The company was incorporated in February 2009 and was taken over by CapFront Technologies Private Limited in October 2019, which built the lending business it runs today. Its Rs 42 crore IPO is open from 13 to 15 October 2026 on the NSE SME platform.
The business is simple to describe. A borrower downloads the LoanFront app, applies online, and the company checks the application with its own credit rules before sending money to the bank account. Most borrowers are salaried people and self-employed individuals in cities and smaller towns, including first-time borrowers and people on modest incomes who may find it hard to get a quick loan from a bank.
Vaibhav Vyapaar earns money in three ways. It lends directly from its own balance sheet. It also co-lends with other NBFCs, where each partner funds part of a loan and shares the interest. And it charges other NBFCs fees for using its loan-application and technology services.
As of 31 July 2026, the assets under management it reports were about Rs 812 crore, far larger than its own balance sheet, which shows how much of the lending runs through partners.
The company is small and lean. It had 56 employees in July 2026, of whom 17 work in technology, 11 in operations and 11 in risk. Its registered office is in Bidhannagar, Kolkata.
On the numbers, total income was Rs 25.46 crore in FY24, Rs 25.34 crore in FY25 and Rs 37.64 crore in FY26. Profit after tax rose from Rs 0.45 crore to Rs 1.48 crore and then Rs 1.97 crore. In the four months to July 2026 alone it earned Rs 3.01 crore, more than in the whole of FY26. Net worth stood at Rs 47.20 crore and borrowings at Rs 37.90 crore at the end of July 2026.
The IPO is entirely a fresh issue of 77.96 lakh shares at Rs 51 to Rs 54 each, so all the money goes to the company. About Rs 32 crore will be used to strengthen its capital base, which an NBFC needs in order to lend more, and the rest for general corporate purposes. The promoters, Itha Venkata Raghava Gowrinath and CapFront Technologies, hold 99.99% today and will hold about 72.3% after the issue.
A retail application needs at least 2 lots of 2,000 shares, or Rs 2,16,000 at the upper price. At that price the company is valued at about Rs 152 crore after the issue.
The points to weigh are the ones common to digital personal lenders: unsecured loans to lower-income borrowers can turn bad quickly in a downturn, profits have been small until recently, and growth depends on partners and on RBI rules for digital lending.
Products and services
- Unsecured personal loans to salaried borrowers
- Personal loans to self-employed borrowers
- LoanFront digital lending app
- Co-lending with other NBFCs
- Loan application and technology services for other NBFCs
Key strengths
- Fully digital lending through its own app
- Focus on underserved salaried and self-employed borrowers
- Mix of direct lending, co-lending and fee income
- Lean team of 56 people with a strong technology share
- Assets under management of about Rs 812 crore (July 2026)
SWOT analysis
Strengths
- Profit rising: Rs 0.45 crore (FY24) to Rs 1.97 crore (FY26), and Rs 3.01 crore in April-July 2026
- Fee and co-lending income needs less of its own capital
- Own technology platform
Weaknesses
- Small balance sheet and thin profits until recently
- Unsecured loans to lower-income borrowers
- RoNW of about 6.75% in FY26
- Depends on partner NBFCs for scale
Opportunities
- Large untapped demand for small personal loans in India
- More capital after the IPO lets it lend more on its own book
- Offering its technology to more lenders
Threats
- Defaults can rise quickly in an economic slowdown
- RBI rules on digital lending and co-lending can change
- Competition from banks, fintech lenders and other NBFCs
- Rising cost of borrowing
SWOT is a neutral summary of public information and the offer document. It is not a recommendation.
Vaibhav Vyapaar IPO review: an honest look at the numbers
Here is an honest look at what the numbers say about the Vaibhav Vyapaar IPO. We don't tell you to apply or to stay away. We lay out the facts so you can decide.
- Issue size: At ₹42 crore, this is a small issue.
- Price: The price band is ₹51–54 per share. The smallest application costs ₹2,16,000 at the top of the band.
- Demand: Bids so far cover the shares on offer 3.8 times, which is moderate demand. Institutions (QIBs) bid 1.61 times their quota; many investors watch this number closely.
- Promoters: Promoter holding falls from 99.99% to 72.34% after the issue.
- Risks: The company lists 5 key risks in its offer document. We summarise them in our notes below.
- SME platform: SME shares usually trade less often than mainboard shares, and the minimum application is larger. That can make it harder to sell quickly.
Before you decide
Read the "Risk factors" and "Objects of the issue" chapters of the RHP for the Vaibhav Vyapaar IPO. They explain what could go wrong and how the money will be used.
Ask yourself whether you would hold the shares if they listed below the issue price. Invest only money you will not need soon.
This review summarises public data. It is not a rating or a recommendation to apply.
Vaibhav Vyapaar IPO subscription status
Updated · final figures
| Category | Times subscribed |
|---|---|
| Qualified institutional buyers (QIB) | 1.61× |
| Non-institutional investors (NII) | 6.65× |
| Retail investors | 2.7× |
| Total | 3.8× |
A figure of 3× means investors bid for three times the shares on offer in that category.
Vaibhav Vyapaar IPO lot size and minimum investment
One lot of the Vaibhav Vyapaar IPO is 2,000 shares. At the upper price band of ₹54, one lot costs ₹1,08,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum application | 2 | 4,000 | ₹2,16,000 |
| Next size up (HNI) | 3 | 6,000 | ₹3,24,000 |
SME IPOs have a larger minimum application than mainboard issues. Bids above the minimum are made in whole lots.
Vaibhav Vyapaar IPO employee quota, anchor investors and bids
Employee quota
No. The Vaibhav Vyapaar IPO has no separate quota for employees.
Anchor investors
| Amount raised | ₹11.88 crore |
|---|---|
| Lock-in on 50% of anchor shares ends | Wed, 18 Nov 2026 30 days |
| Lock-in on remaining 50% ends | Sun, 17 Jan 2027 90 days |
Main anchor investors: Getfive Opportunity Fund - I, Tiger Strategies Fund - I, Moneywise Financial Services, Invicta Continuum Fund I, SB Opportunities Fund II and Invicta Continuum Fund II.
Lock-in dates are counted from the allotment date under SEBI rules. Shares coming out of lock-in can add selling pressure around those dates.
How much QIB, NII and retail investors bid
Updated
| Category | Shares on offer | Times subscribed | Amount bid |
|---|---|---|---|
| Anchor investors | ₹11.88 cr | 1× | ₹12 cr |
| Qualified institutional buyers (QIB, excluding anchors) | ₹9.12 cr | 1.61× | ≈ ₹15 cr |
| Non-institutional investors (NII) | ₹6.3 cr | 6.65× | ≈ ₹42 cr |
| Retail investors | ₹14.7 cr | 2.7× | ≈ ₹40 cr |
| Total (excluding anchors) | ₹30.12 cr | 3.8× | ≈ ₹96 cr |
≈ marks an estimate: times subscribed × the value of shares on offer at the upper price band. Amount bid is demand, not money invested; most bidders receive fewer shares and get the rest refunded.
Vaibhav Vyapaar listed peers
The top listed peers of Vaibhav Vyapaar, with their P/E and RoNW from the RHP, will appear here.
Vaibhav Vyapaar IPO date and timeline
- Bidding opens
- Bidding closes
- Basis of allotment
- Refunds start
- Shares credited to demat
- Listing
Approve your UPI mandate before 5 pm on the closing day, or the bid is rejected.
What happens after bidding closes
Bidding closed on 15 Oct 2026. The registrar then works out who gets shares, and the basis of allotment was finalised on 19 Oct 2026.
If you don't get shares, the money blocked in your bank account is released from 19 Oct 2026. If you do, the shares reach your demat account the same day.
The Vaibhav Vyapaar IPO listed on NSE Emerge on 21 Oct 2026, when trading in the shares begins.
Vaibhav Vyapaar financials
What brokers say about the Vaibhav Vyapaar IPO
Broker IPO notes usually arrive a day before bidding opens. We add each firm's rating and reason here, with a link to the original.
Marketasset notes on the Vaibhav Vyapaar IPO
Use of proceeds
- Augment the capital base to support future lending: Rs 32.00 crore
- General corporate purposes: balance
Promoter holding
Before the issue: 99.99%. After the issue: 72.34%. Promoters: Itha Venkata Raghava Gowrinath, CapFront Technologies Private Limited.
Key risks the company lists
- Unsecured personal loans carry high credit risk
- Small scale: total income of Rs 37.64 crore and profit of Rs 1.97 crore in FY26
- Growth depends on co-lending partners and RBI's digital-lending rules
- High valuation on past earnings (about 54 times FY26 earnings before the issue)
- Thin trading is common for SME shares after listing
Other observations
SME issue on NSE Emerge. Price band Rs 51-54; lot 2,000 shares; minimum retail application 2 lots (Rs 2,16,000). Fresh issue of 77.96 lakh shares (about Rs 42 crore), no OFS. Anchor book on 12 Oct raised Rs 11.88 crore from 6 investors. Allotment 16 Oct, listing 21 Oct 2026 (tentative). Lead manager GetFive Advisors; registrar KFin Technologies; market maker Prabhat Financial Services. The largest anchor investor, Getfive Opportunity Fund - I, shares the GetFive name with the lead manager.
Market cap about Rs 152 crore after the issue. One source gives net worth as Rs 471.96 crore, which conflicts with the Rs 47.20 crore in the financial table; the table figure fits the reported ratios.
These notes describe the offer document. They are not a rating or a recommendation.
How to apply for the Vaibhav Vyapaar IPO
- Choose your bid. Pick the number of lots (minimum ₹2,16,000) and tick "cut-off price" so your bid counts at the final price.
- Apply through UPI or ASBA. Use your broker's app with your UPI ID, or your bank's net banking (ASBA). The money is blocked, not debited.
- Approve the UPI mandate in your UPI app before 5 pm on the closing day.
- Check allotment after the allotment date, as explained in the next section.
This is an SME IPO: the minimum application is larger than for mainboard issues, and shares trade on the SME platform.
How to check Vaibhav Vyapaar IPO allotment status
The basis of allotment for the Vaibhav Vyapaar IPO was finalised on 19 Oct 2026. After that, you can check your status in any of these places.
- Registrar's website: open Kfin Technologies Limited's allotment page, choose Vaibhav Vyapaar and enter your PAN or application number.
- BSE: BSE's allotment status page. Select the issue type and name, then enter your application number and PAN.
- NSE: NSE's IPO bid verification page. Log in with your PAN to see your bid and allotment.
- Your bank or broker: the UPI mandate is either debited (shares allotted) or released (not allotted), usually by SMS.
IPO rules, including how retail shares are allotted by lottery when an issue is oversubscribed, are set by SEBI.
Vaibhav Vyapaar IPO listing performance
| Issue price | ₹54 |
|---|---|
| Current price 13 Nov 2026, 10:02 am IST | ₹62.5 |
| Change from issue price | +15.74% |
Vaibhav Vyapaar IPO FAQs
When does the Vaibhav Vyapaar IPO open and close?
The Vaibhav Vyapaar IPO was open for bidding from 13 Oct 2026 to 15 Oct 2026.
What is the price band and lot size of the Vaibhav Vyapaar IPO?
The price band is ₹51–54 per share and one lot is 2,000 shares.
What is the minimum investment in the Vaibhav Vyapaar IPO?
The smallest application is 2 lots (4,000 shares), which costs ₹2,16,000 at the top of the price band.
When is the Vaibhav Vyapaar IPO allotment date and how do I check my status?
The basis of allotment was finalised on 19 Oct 2026. You can check your allotment status on the website of the registrar, Kfin Technologies Limited, using your PAN or application number, or on the BSE and NSE websites.
When will Vaibhav Vyapaar shares list?
Vaibhav Vyapaar listed on NSE Emerge on 21 Oct 2026.
Who are the lead managers and registrar of the Vaibhav Vyapaar IPO?
The registrar is Kfin Technologies Limited.
How many times has the Vaibhav Vyapaar IPO been subscribed?
The Vaibhav Vyapaar IPO was subscribed 3.8 times overall: 1.61 times by QIBs, 6.65 times by non-institutional investors and 2.7 times by retail investors. Figures as of 15 Oct 2026, 11:35 am IST.
Does the Vaibhav Vyapaar IPO have an employee quota?
No. The Vaibhav Vyapaar IPO has no separate quota for employees.
How much did the Vaibhav Vyapaar IPO raise from anchor investors?
Vaibhav Vyapaar raised ₹11.88 crore from anchor investors. Half of the anchor shares are locked in until 18 Nov 2026 and the rest until 17 Jan 2027.