Vaibhav Vyapaar IPO
Vaibhav Vyapaar IPO is a Book Built Issue of 76,00,000 Equity Shares, proposed to be listed on NSE Emerge.
Vaibhav Vyapaar IPO Details
Vaibhav Vyapaar IPO is an upcoming SME IPO of Vaibhav Vyapaar Limited, a Reserve Bank of India-registered non-banking financial company engaged in digital lending. The company provides unsecured personal loans to salaried and self-employed individuals through its LoanFront digital lending platform and also operates through direct lending and co-lending models. The company also provides application and technology services to other NBFCs. The IPO comprises a fresh issue of up to 76,00,000 equity shares of face value ₹5 each. The shares are proposed to be listed on the SME platform of NSE Emerge. The company filed its DRHP on July 1, 2026.
Vaibhav Vyapaar IPO GMP
Vaibhav Vyapaar IPO GMP is currently reported at ₹0, with no active positive grey market premium indication available. GMP is an unofficial market indicator and can change before listing. Investors should not treat GMP as a guaranteed indication of the listing price.
Vaibhav Vyapaar IPO Timeline (Tentative)
Vaibhav Vyapaar IPO is expected to open for subscription on 13 October 2026 and close on 15 October 2026. The tentative allotment is scheduled for 16 October, followed by refund initiation and credit of shares to Demat accounts on 19 October. The proposed listing date is 21 October 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tue, Oct 13, 2026 |
| IPO Close Date | Thu, Oct 15, 2026 |
| Basis of Allotment | Fri, Oct 16, 2026 |
| Initiation of Refunds | Mon, Oct 19, 2026 |
| Credit of Shares to Demat | Mon, Oct 19, 2026 |
| Listing Date | Thu, Oct 22, 2026 |
Vaibhav Vyapaar IPO Lot Size
The Vaibhav Vyapaar IPO lot size is 2,000 shares. At the upper price band of ₹52, one lot represents an application value of ₹1,04,000. Based on SME application categories, the minimum Retail application is taken as 2 lots, while S-HNI and B-HNI applications fall into the higher application-value categories.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,08,000 |
| Retail (Max) | 2 | 4,000 | ₹2,08,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,12,000 |
| S-HNI (Max) | 9 | 18,000 | ₹9,36,000 |
| B-HNI (Min) | 10 | 20,000 | ₹10,40,000 |
Vaibhav Vyapaar IPO Reservation
Vaibhav Vyapaar IPO follows the SME IPO reservation structure, with not more than 50% of the Net Issue available for QIBs, not less than 15% for Non-Institutional Investors and not less than 35% for Individual Investors.
Vaibhav Vyapaar IPO Subscription
Subscription figures will be updated after the Vaibhav Vyapaar IPO opens for bidding. No subscription data is available yet.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About Vaibhav Vyapaar
Vaibhav Vyapaar Limited is an RBI-registered NBFC that operates a technology-driven digital lending business. The company provides unsecured personal loans to salaried and self-employed individuals through its LoanFront digital lending platform. Its lending activities are carried out through direct lending and co-lending models, while it also earns revenue by providing application and technology services to other NBFCs.
The company has developed its digital lending operations around customer onboarding, digital verification, credit assessment, documentation, loan disbursement, repayment and collection processes. The LoanFront platform is designed to support paperless lending and uses technology to facilitate customer access to credit. As of June 2026, the company stated that its mobile application had recorded more than 114 lakh downloads and cumulative disbursements had reached approximately ₹1,500 crore.
As of March 31, 2026, the company reported assets under management of approximately ₹70.68 crore and a restated net worth of ₹29.19 crore. Its FY2026 revenue from operations was ₹36.80 crore, while restated PAT stood at ₹1.97 crore.
Strengths
- Digital lending platform operating under the LoanFront brand.
- Experience in providing unsecured personal loans to salaried and self-employed borrowers.
- Direct lending and co-lending business models.
- In-house technology platform supporting digital customer onboarding and lending processes.
- Experienced management team with exposure to financial services, credit operations and technology.
- Underwriting and risk-management systems used for assessing borrowers.
- AUM increased to approximately ₹70.68 crore as of March 31, 2026.
- Cumulative loan disbursements reached approximately ₹1,500 crore by June 2026.
Risks to Consider
- The company's lending business is exposed to interest-rate volatility, which can affect finance costs, margins and profitability.
- Digital lending operations depend on third-party software and service providers for functions including verification, credit bureau checks, payments, disbursals and collections.
- Changes in RBI regulations and increased scrutiny of digital lending practices could require changes to the company's operating model.
- The company provides unsecured personal loans, exposing it to credit and repayment risks.
- The business depends significantly on the LoanFront platform and its reputation for customer acquisition and retention.
- The company's digital lending operations rely on continued access to a domain name registered in the name of its holding company.
- Competition in digital lending may increase as existing lenders expand and new players enter the market.
Vaibhav Vyapaar Financials (₹ Cr)
The financial table below is based on the company's restated financial statements. Revenue represents revenue from operations, while PAT represents restated profit after tax. Total assets and net worth are converted from the DRHP's ₹ lakh figures into ₹ crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | ₹25.25 Cr. | ₹0.45 Cr. | ₹61.18 Cr. | ₹25.74 Cr. |
| FY2025 | ₹25.05 Cr. | ₹1.48 Cr. | ₹55.04 Cr. | ₹27.22 Cr. |
| FY2026 | ₹36.80 Cr. | ₹1.97 Cr. | ₹84.23 Cr. | ₹29.19 Cr. |
KPIs & Valuation
The company's FY2026 restated financial information reported RoNW of 6.75%, RoE of 6.99%, RoCE of 26.99% and EBITDA Margin of approximately 29.47%. The DRHP reported FY2026 basic and diluted EPS of ₹1.22 and NAV of ₹18.13 per share.
Objects of the Issue
The Vaibhav Vyapaar IPO comprises a Fresh Issue of up to 76,00,000 equity shares. The company proposes to utilise ₹32.00 crore from the Net Proceeds towards augmenting its capital base. The balance of the Net Proceeds is proposed to be utilised towards general corporate purposes, subject to the final issue terms and allocation. The company proposed to utilise the IPO proceeds for:
- Augmenting the capital base of the company.
- General corporate purposes.
Promoters, Lead Managers & Registrar
GetFive Advisors Private Limited is the Book Running Lead Manager to the Vaibhav Vyapaar IPO, while KFin Technologies Limited is the Registrar to the Issue. The company's DRHP identifies GetFive Advisors as the BRLM and KFin Technologies as the registrar.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | +91-40-67162222 / 1800 309 4001 |
| vaibhav.ipo@kfintech.com | |
| Website | https://www.kfintech.com/ |
Vaibhav Vyapaar IPO Review
Vaibhav Vyapaar operates in the digital lending and NBFC segment, with its business centred on unsecured personal loans and technology-enabled lending. Its LoanFront platform supports digital onboarding and lending processes, while the company also uses direct lending and co-lending arrangements. The company's revenue from operations increased from ₹25.05 crore in FY2025 to ₹36.80 crore in FY2026, representing strong year-on-year growth. Restated PAT also increased from ₹1.48 crore to ₹1.97 crore during the same period.
The IPO proceeds are primarily intended to strengthen the company's capital base, which is important for an NBFC because lending growth and regulatory capital requirements are closely linked. The company reported a CRAR of 28.55% as of March 31, 2026, including Tier I capital of 23.78%. However, investors should also consider the company's relatively modest profitability, exposure to unsecured lending, finance costs and the regulatory risks associated with digital lending. The IPO may be considered from a business-growth perspective, but investors should evaluate the final valuation, issue price and updated offer document before making an investment decision.
How to Apply
Investors can apply for the Vaibhav Vyapaar IPO through the ASBA facility offered by participating banks or through the UPI mechanism provided by eligible brokers and intermediaries. Applicants should bid within the announced price band and ensure that sufficient funds are available for the IPO mandate.
Through UPI
- Log in to your broker or trading platform that supports IPO applications.
- Select Vaibhav Vyapaar IPO from the IPO section.
- Enter your UPI ID and application details.
- Select the required number of lots and bid at the desired price within the IPO price band.
- Submit the IPO application.
- Approve the UPI mandate received in your UPI application.
- Ensure that sufficient funds remain available in the linked bank account until the allotment process is completed.
Prospectus & Documents
The company has published its DRHP and other IPO-related documents through its investor-relations section.
Last updated Oct 8, 2026.