Subscription & GMP
Subscription is live from NSE + BSE bid data. GMP is an unofficial market indicator.
Snapshot & Timeline
Verified against RHP, cross-checked on NSE & BSE.
| Issue Structure | |
|---|---|
| Type | SME · Fixed Price |
| Face Value | ₹10 |
| Fresh Issue | ₹41 Cr |
| Offer for Sale | Nil |
| Market Cap | ≈ ₹151.88 Cr |
| Reservation & Parties | |
|---|---|
| QIB (incl. anchor) | — |
| NII / HNI | 50.01% |
| Retail | 49.99% |
| Lead Managers | Novus Capital Advisors |
| Registrar | KFin Technologies |
FY24–FY26 Trend (₹ Cr)
Restated consolidated figures from the RHP.
| Metric | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Total Income | 271.65 | 335.74 | 342.96 | +2% |
| EBITDA | 12.30 | 20.96 | 22.83 | +9% |
| PAT | 5.49 | 9.23 | 10.41 | +13% |
| Total Borrowing | 47.01 | 66.28 | 70.48 | +6% |
Is the price fair?
From the RHP "Basis for Issue Price". Price (P/E) beside quality (ROE).
| Company | P/E | ROE | Net Margin |
|---|---|---|---|
| Vinod Texworld | 14.6x | 24.31% | 3.0% |
Who runs it & where the money goes
| Promoters | |
|---|---|
| Promoters | Harsh Vinod Mittal, Yash Vinod Mittal, Sweta Yash Mittal |
| Pre-issue | 93.1% |
| Post-issue | 66.85% |
| Objects of Issue | |
|---|---|
| Working capital requirement | ₹20.35 Cr |
| Repayment of borrowings | ₹7.15 Cr |
| Expansion of existing plant | ₹6.39 Cr |
| General corporate purposes & issue expenses | ₹8.94 Cr |
Strengths & Risks
The part most sites skip — both sides, from the RHP.
- All-fresh issue (no OFS) — proceeds fund working capital, a plant expansion and debt repayment.
- Decent returns — RoNW ~24% and reasonable pricing at ~14.6x post-issue P/E.
- Profit growth — PAT up to ₹10.4 Cr in FY26 (₹5.5 → ₹10.4 Cr over two years), with improving margins off a low base.
- Debt/equity improving — down to ~1.65 from ~2.05 as net worth builds.
- Established Ahmedabad textile maker-trader (since 2012) in dyed/printed fabrics.
- Wafer-thin margins — PAT margin only ~3% and EBITDA margin ~6.7%; a commodity-like, competitive textile business.
- High debt — debt/equity ~1.65 and borrowings still rising (₹47 → ₹70 Cr); working-capital-heavy.
- Near-flat revenue — income grew just ~2% in FY26 after FY25's step-up; growth has stalled.
- Weak, divergent grey market — ~₹20 (~21%) on one tracker but only ~₹2.5 on another, with IPOJI showing no recorded quote; a modest, uncertain signal for a tiny SME.
- Tiny NSE-SME with a large ~₹2.26 lakh minimum ticket — low post-listing liquidity, high volatility and limited retail participation; demand has just crossed 1x on the final day (~1.15x, NII only ~0.27x, QIB nil).
Did the signal hold up? Updates after Sep 17
We close the loop — issue vs listing price, listing-day gain, and whether the call was right.
Vinod Texworld IPO FAQs
Common questions about the Vinod Texworld IPO — GMP, price, dates, allotment and more.
What is Vinod Texworld IPO GMP today?
As of the latest update (Subscription: Sep 11, 5:57 PM IST (Final, IPOJI) · GMP: Sep 11 (negligible — ₹1 InvestorGain ~1%; IPOJI no quote)), the grey market premium (GMP) for Vinod Texworld IPO is around ~₹1 (negligible), implying an estimated listing price of about ≈ ₹95. GMP is unofficial & indicative
What is Vinod Texworld IPO price band?
The price band is ₹94 (fixed) per share (face value ₹10).
What is Vinod Texworld IPO lot size?
The lot size is 1,200 · min ₹2,25,600 per application.
When is Vinod Texworld IPO allotment?
The tentative basis-of-allotment date is Sep 15.
When will Vinod Texworld IPO be listed?
The tentative listing date is Sep 17, 2026 on NSE SME.
What is the expected listing price of Vinod Texworld IPO?
Based on the current grey market premium of ~₹1 (negligible), the estimated listing price is around ≈ ₹95 — this is unofficial and not a guarantee of the actual listing price.
Should I apply for Vinod Texworld IPO?
Our view: Neutral · May Apply
In simple terms, Vinod Texworld makes and trades dyed and printed fabrics — a competitive, low-margin textile business. It is profitable and earns a decent return on its money, the shares are reasonably priced (about 15 times earnings), and the whole issue is fresh money for the company (working capital, a plant expansion and paying down loans). The things to weigh are stacked, though: profit margins are wafer-thin (about 3% of sales), the company carries a lot of debt (about 1.6 times its net worth), revenue barely grew last year, and the smallest application is large at about ₹2.26 lakh. The grey market has faded to about ₹1 (negligible); the final book closed at about 1.66 times subscribed (individuals ~2.9 times, the larger HNI category ~0.41 times). It is a fairly-priced small company, but the thin margins, high debt and weak grey market mean there is no rush — this suits only investors comfortable with the thin liquidity and volatility of a tiny SME. This is IPOSignal's research view, not investment advice.
What is Vinod Texworld IPO subscription status?
As of Final · Sep 11, 5:57 PM IST (IPOJI), the issue was subscribed 1.7× overall — Retail 2.9×, NII / HNI 0.4×.
Who is the registrar of Vinod Texworld IPO?
The registrar is KFin Technologies; the lead manager(s): Novus Capital Advisors.