Vandan Foods IPO Upcoming
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Schedule of Vandan Foods
| Issue open date | 30 Jun 2025 |
| Issue close date | 02 Jul 2025 |
| UPI mandate deadline | 02 Jul 2025 (5 PM) |
| Allotment finalization | 03 Jul 2025 |
| Refund initiation | 04 Jul 2025 |
| Share credit | 04 Jul 2025 |
| Listing date | 07 Jul 2025 |
| Mandate end date | 17 Jul 2025 |
| Lock-in end date for anchor investors (50%) | 02 Aug 2025 |
| Lock-in end date for anchor investors (remaining) | 01 Oct 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Vandan Foods
Incorporated in 2015 and converted to a public limited company in 2023, Vandan Foods Limited manufactures castor oil and its derivatives. Based in Gujarat with manufacturing facilities in Dhinoj, Patan, the company specializes in Refined F.S.G. Castor Oil and castor de oil cake through a B2B business model.
Originally engaged in catering and agro commodity trading, the company transitioned to castor oil manufacturing in 2024 under new promoter management. Castor oil serves diverse industrial applications, including synthetic resins, plastics, paints, varnishes, cosmetics, lubricants, and textile finishing materials. Due to its renewability and versatility, castor oil is a vital raw material for the chemical industry.
With ISO certification, Vandan Foods maintains quality standards through rigorous testing of raw materials and finished products via outsourced laboratories. The company’s distribution network covers multiple Indian states, including Gujarat, Haryana, Andhra Pradesh, Delhi, Bihar, Rajasthan, and Telangana. It focuses on quality products at competitive prices to ensure customer satisfaction and retention.
Financials of Vandan Foods
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹30.36 crores |
| Fresh Issue | ₹30.36 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company | 3.00 (9.88%) |
|
Funding the capital expenditure requirement for expansion of the Dhinoj Facility (CAPEX) |
8.29 (27.31%) |
|
To meet working capital requirements |
8.57 (28.23%) |
|
General Corporate Purpose |
7.51 (24.74%) |
Strengths
- Experienced promoters and team with strong industry knowledge drive operations and growth.
- ISO-certified quality systems ensure consistent product standards.
- Diversified product range and customer base reduce industry dependence and support steady revenues.
- Scalable, order-driven model with efficient resource use and quality focus.
- Strong customer and supplier ties ensure stable demand and smooth operations.
- Focus on process improvement and modernization enables optimal resource utilization.
Risks
- High revenue dependence on top 10 customers (61.44% as of Aug ’24) poses concentration risk.
- High supplier concentration (64% from top 10) poses supply risk.
- High dependence on Gujarat makes the business vulnerable to regional disruptions.
- Legal cases involving the company and promoters may affect reputation and operations.
- Rented office space – non-renewal or disputes may disrupt business.
- Margins may be impacted by fluctuations in castor seed prices, a key raw material.
- Quality lapses can harm reputation, reduce sales, and pose financial and legal risks.
Allotment Status for Vandan Foods
To check your allotment status –click here.