Vama Wovenfab, a manufacturer of fabric-based packaging products, on Friday said it has fixed a price band at Rs 324-341 per share for the Rs 49.5-crore initial public offering (IPO) that will open for subscription on September 15.
The IPO is scheduled to close on September 17, and the company's equity shares are proposed to be listed on the BSE SME platform. Listing is tentatively scheduled for September 22, subject to receiving applicable approvals, a statement said.
The initial share sale is entirely a fresh issue of nearly 14.53 lakh equity shares with a face value of Rs 10 each, according to the Red Herring Prospectus (RHP) filed on Tuesday.
At the upper end of the price band, the company is going to fetch Rs 49.54 crore from the IPO.
The net proceeds from the public issue worth Rs 26.5 crore will be used for working capital requirements of the company, funds worth Rs 7.24 crore for purchase of machinery and Rs 1.36 crore towards construction of a shed.
The remaining balance will be used for general corporate purposes, as per RHP.
Vama Wovenfab Ltd is in the manufacturing and selling of Polypropylene/ High Density Polyethene (HDPE) woven sack bags & fabric-based products of different weights, sizes and colours as per customers' specifications, like HDPE trampoline and coloured woven fabric sheets, loop handle bags. The company also trades in plastic granules.
On the financial front, the company reported revenue from operations at Rs 214.62 crore in FY26, compared with Rs 27.87 crore in FY24. During the same period, its profit after tax stood at Rs 11.55 crore, up from Rs 2.63 crore.
Gretex Corporate Services is the sole book-running lead manager for the IPO.
