Vaibhav Vyapaar came to market through an SME IPO that opened on 13 October 2026 and closed on 15 October 2026, and the shares listed on 21 October 2026 on the NSE. The price band was ₹51 to ₹54 per share and one lot was 2000 shares, so the minimum application was ₹1,08,000. The issue size was ₹42.1 crore. The whole issue was fresh shares, so the money raised went to the company.
It listed at ₹52.9, a loss of 2% against the issue price of ₹54. Kfin Technologies Ltd was the registrar to the issue, and GetFive Advisors Pvt.Ltd was the lead manager.
The issue was subscribed 3.31 times overall.
Incorporated in the year 2009, Vaibhav Vyapaar Limited is an NBFC, duly registered with RBI. Vaibhav Vyapaar makes unsecured personal loans to salaried and self-employed persons in India through its digital platform of lending. It operates in the segments of direct lending and co-lending.
It provides its own range of personal loan products under the brand name of 'LoanFront' by virtue of its mobile app called LoanFront – Personal Loan App through which it provides an end-to-end process for digital loan origination, underwriting, documentation, disbursal, and repayment. The technology-enabled lending infrastructure of this company employs digital verification and automated credit scoring techniques for its decision making. Besides, it earns through providing various application and technology services for other NBFCs.
This firm caters to retail borrowers and aims to address their needs in the segments of first time borrowers and lower middle-class salaried borrowers of India. As on 31st March 2026, its AUM was ₹70.68 crore, its net worth is ₹27.22 crore, debt-to-equity ratio is 1.60, total manpower is 55, and it utilizes digital payment modes of UPI and payment gateways.
As described in the offer document.
Itha Venkata Raghava Gowrinath, CapFront Technologies Pvt.Ltd.. Promoter holding 99.99% before the issue and 72.34% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
₹51 to ₹54 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 2000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,08,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,08,000, for one lot of 2000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 13 October 2026 and closed on 15 October 2026.
The basis of allotment was published on 16 October 2026 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 21 October 2026 on the NSE, opening at ₹52.9.
The issue size was ₹42.1 crore. The fresh issue was 77,96,000 shares (aggregating up to ₹42.1 crore).
It listed at ₹52.9 against an issue price of ₹54, a loss of 2 percent on listing day.