Vandan Foods IPO launches today
Vandan Foods just opened its IPO, looking to raise ₹30.36 crore by offering 26.4 lakh shares at ₹115 each.
The issue allocates 47.5% each to retail and non-institutional investors, with a small chunk set aside for Aftertrade Broking as market maker.
Shares will be allotted on July 3 and hit the BSE SME platform on July 7.
Castor oil and cake makers
Started in Gujarat in 2015, Vandan Foods makes castor oil and castor de-oiled cake—ingredients used everywhere from pharma to paints and agriculture.
They sell both business-to-business and direct-to-consumer, reaching states like Gujarat, Telangana, Delhi, and Haryana.
Strong numbers for a growing firm
In FY24, the company pulled in ₹72.66 crore revenue with a net profit of ₹4.54 crore—pretty solid numbers for a growing firm.
Money raised from this IPO will help fund working capital needs, pay off some debt, expand their Dhinoj facility, and cover general business expenses.