Vaibhav Vyapaar IPO
Vaibhav Vyapaar LtdSME
This IPO is now Live.
- Open date
- 13 Oct 2026
- Close date
- 15 Oct 2026
- Min. Investment
- ₹2,16,000
- Lot Size
- -
- Fresh Issue
- ₹42.10 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.05x
- Retail-Individual Investors0.15x
- Total0.08x
Schedule
- Current step: IPO open date13 Oct 2026
- Upcoming: IPO close date15 Oct 2026
- Upcoming: Allotment date16 Oct 2026
- Upcoming: Funds unblock or debit19 Oct 2026
- Upcoming: Tentative listing date21 Oct 2026
About
Promoter shareholding in Vaibhav Vyapaar Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Capfront Technologies Pvt Ltd | 2,03,82,415 | 99.98% | 2,03,82,415 | 72.32% |
| Itha Venkata Raghava Gowrinath | 3,996 | 0.01% | 3,996 | 0.01% |
Vaibhav Vyapaar IPO Strengths & Risks
- Ground-Level Market Understanding and Customer Insights.
- Digital Lending Platform with In-House Technology
- Experienced Leadership and Management Team
- Underwriting Framework and Risk Management Systems
- Risks Relating to the Business: The company's business is exposed to interest rate volatility, which may adversely affect its lending and treasury operations, Net Interest Income, Net Interest Margin and results of operations.
- Risks Relating to the Business: The company's success depends on retaining and expanding its customer base. If the company is unable to attract new customers or are unable to retain and grow its relationships with the company's existing customers, its business, financial condition, cash flows, results of operations and prospects would be materially and adversely affected.
- Risks Relating to the Business: A significant portion of the company's Assets Under Management ("AUM") is concentrated in certain states and regions of India. Any adverse economic, regulatory, political, climatic, social or business developments in such states or regions could have a material adverse effect on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's lending operations primarily involve unsecured loans to borrowers with a relatively higher risk profile, and any increase in defaults or the company's inability to recover outstanding dues may have a material adverse effect on its business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: The company's business operations are highly dependent on the continuous availability, reliability, scalability and security of its mobile application and underlying information technology infrastructure. Any disruption, failures or security breach affecting the company's technology systems could adversely affect its business, financial condition, results of operations, cash flows and prospects.
- Risks Relating to the Business: The company's digital lending operations are significantly dependent on third-party software vendors and service providers for critical functions such as customer onboarding, identity and document verification, credit bureau checks, account aggregation, payments, disbursals, communications and collections. Any disruption, failures, security breach, regulatory non-compliance or unavailability of such services could adversely affect the company operations, delay loan processing and materially impact its business and financial performance.
- Risks Relating to the Business: The company's customer onboarding and end-to-end lending operations are substantially dependent on the recognition and continued uses of the "LoanFront" trademark. Any loss, infringement, dilution, adverse publicity or inability to protect or uses the "LoanFront" brand could impair customer trust, disrupt the company operations and materially and adversely affect its business and financial performance.
- Risks Relating to the Business: The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the company.
- Risks Relating to the Business: The company has witnessed negative operating cash flows in the past.
- Risks Relating to the Business: The company's inability to maintain its capital adequacy ratio could adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
- Risks Relating to the Business: Inadequate payment of stamp duty on a previously executed Business Transfer Agreement with its holding company.
- Risks Relating to the Business: There have been certain procedural delays in relation to compliances associated with the Non-Convertible Debentures issued by the Company, and any continued non-compliance may subject the Company to regulatory observations and may have an adverse effect on its business, financial condition and reputation.
- Risks Relating to the Business: Any acquisition of 26% or more of the company's paid-up equity share capital requires prior approval of the Reserve Bank of India.
- Risks Relating to the Business: Any inappropriate conduct or misconduct by the company's employees, collection personnel or recovery agents may expose it to legal and regulatory action, reputational harm and other liabilities, which could materially and adversely affect the company's business, financial condition, results of operations and prospects.
- Risks Relating to the Business: The company does not maintain certain insurance policies in its own name, and any uninsured loss may adversely affect the company's business, financial condition, cash flows and results of operations.
- Risks Relating to the Business: A significant portion of the company's Assets Under Management ("AUM") comprises loans extended to self-employed borrowers. Any adverse developments affecting such borrowers or changes in the composition of its loan portfolio may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's business may be adversely affected by the actions or conduct of its recovery agents, which could expose the company to customer complaints, litigation, regulatory action and reputational risk.
- Risks Relating to the Business: The company's end-to-end customer onboarding, credit assessment and loan disbursement process is substantially dependent on its proprietary digital lending platform, "LoanFront". Any disruption, malfunction or failures of the platform or its integrated technology infrastructure could materially and adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: Any failures or significant weakness in the company's internal processes or systems could result in operational errors or incidents of fraud, which may adversely affect its business, profitability and reputation.
- Risks Relating to the Business: The company's business is dependent on digital distribution platforms, including mobile application marketplaces, and any disruption or adverse changes in the policies of such platforms may adversely affect its customer acquisition and business operations.
- Risks Relating to the Business: The Company is exposed to risks associated with its loan assignment and co-lending arrangements with banks and other financial institutions, including changes in applicable regulations and reduced demand for such transactions.
- Risks Relating to the Business: The company's digital lending operations are significantly dependent on third-party software vendors and service providers for critical functions such as customer onboarding, identity and document verification, credit bureau checks, account aggregation, payments, disbursals, communications and collections. Any disruption, failures, security breach, regulatory non-compliance or unavailability of such services could adversely affect the company operations, delay loan processing and materially impact its business and financial performance.
- Risks Relating to the Business: The company's acquisition of loan portfolios from other NBFCs, HFCs or other eligible entities may expose it to credit and asset quality risks, including higher-than-anticipated delinquencies and defaults, which could adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The bankruptcy code in India may affect its right to recover loans from the company's customers.
- Risks Relating to the Business: The company's digital lending operations relies on the continued permission granted by its holding company, Capfront Technologies Private Limited, to use a domain name registered in its name for the company's business purposes. Any revocation, non-renewal, dispute, change in control or failures to maintain or transfer such domain rights could disrupt the company's digital platform, affect customer engagement and materially and adversely impact its business, operations and financial performance.
- Risks Relating to the Business: The company depends on the accuracy and completeness of information provided by its borrowers. Any misleading information provided to the company by its borrowers may affect the company's judgement of their credit worthiness, which could have an adverse effect on its business, cash flows, results of operations, financial condition.
- Risks Relating to the Business: The company requires substantial capital for its business. Any disruption in the company's sources of capital or its inability to meet the company's obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
- Risks Relating to the Business: The company may faces asset-liability mismatches, which could adversely affect its liquidity and consequently affect the company profitability, business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company has entered into lending arrangements with certain third-party NBFCs for a certain portion of its total AUM which was attributable to the company off-book loans. Any premature termination of such lending arrangements may adversely affect its business, financial condition, cash flows, results of operations and prospects.
- Risks Relating to the Business: The company may not be able to identify, monitor and manage risks or effectively implement its risk management policies, which may adversely affect the company's business, financial condition, cash flows, results of operations and prospects.
- Risks Relating to the Business: Any non-compliance with applicable statutory and regulatory requirements may expose the company to penalties and regulatory action, which could adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The company does not have access to records and data pertaining to certain historical legal and secretarial information in relation to certain disclosures. Further, there are certain discrepancies in the records available with the company.
- Risks Relating to the Business: Risk relating to Non-Compliance of RBI Direction, regulatory supervision by RBI, reporting inaccuracies, and NPA provisioning errors.
- Risks Relating to the Business: The company's success depends in large part upon its Promoters, KMPs and certain other employees and the company's inability to attract, train and retain such persons could adversely affect its business, financial condition, cash flows, results of operations and prospects.
- Risks Relating to the Business: Certain non-GAAP financial measures and other selected statistical and operational information included in the Red Herring Prospectus may differ from standard methodologies applicable across the financial services industry and may not be comparable with similarly described measures presented by other companies.
- Risks Relating to the Business: Annualized financial data included in this Red Herring Prospectus may not be indicative of the company's actual financial performance for the relevant financial year.
- Risks Relating to the Business: The company's ability to attract and retain customers and maintain relationships with its lenders, business partners and other stakeholders is dependent, to some extent, on the confidence and trust placed in the company.
- Risks Relating to the Business: The company has certain contingent liabilities that have not been provided for in its Restated Consolidated Financial Information, which if they materialize, may adversely affect the company's financial condition.
- Risks Relating to the Business: The loans provided to the company's customers can be used for various purposes and its may not have any control over such use. This may result in a failures by customers to repay the loans in a timely manner or at all and this may have a material adverse effect on the company's business, financial condition, cash flows, results of operations and prospects.
- Risks Relating to the Business: The company's Promoter will continue to hold a majority shareholding in the Company after the Offer and will be able to exercise significant influence over its business and management.
- Risks Relating to the Business: There are outstanding legal proceedings on the date of this Red Herring Prospectus involving the Company, Promoters, Directors, KMP/SMP and Group Company however there may be possible litigation which may adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Issue Price.
- Risks Relating to the Business: There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Risks Relating to the Business: The company may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy the company's capital needs, which its may not be able to procure and any future equity offerings by the company.
- Risks Relating to the Business: Qualified Institutional Buyers ("QIBs") and Non-Institutional Investors are not permitted to withdraw or lower their Bids (either quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- Risks Relating to the Business: Any future issuance of Equity Shares, or convertible securities or other equity linked instruments by the company may dilute shareholding and sale of Equity Shares by the Promoters, members of its Promoter Group and other significant shareholders may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Under Indian law, foreign investors are subject to investment restrictions that limit the company's ability to attract foreign investors, which may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: The company's Equity Shares have never been publicly traded, and after the Offer, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the Offer Price may not be indicative of the market price of the Equity Shares after the Offer.
- Risks Relating to the Business: Requirements of being a listed company may strain its resources and impose additional requirements.
- Risks Relating to the Business: Investors may be subject to Indian taxes arising from income earned on the sale of the company's Equity Shares.
- Risks Relating to the Business: There is no guarantee that the Equity Shares will be listed, or continue to be listed, on the Stock Exchanges in a timely manner, or at all, and such that the prospective investors will not be able to immediately sell their Equity Shares.
- Risks Relating to the Business: There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, the Equity Shares at a particular point in time.
