Vedant Poly Fabs Opens ₹56.68 Crore SME IPO on 2 November — Startup Funding India, October 2026

A packaging manufacturer heads to the SME board

West Bengal-based Vedant Poly Fabs Limited will open its initial public offering on the NSE Emerge platform from 2 November to 4 November 2026, a fresh listing window opening just days after the October funding data closed. The IPO aims to raise ₹56.68 crore by issuing 60,30,000 equity shares with a face value of ₹10 each, priced between ₹88 and ₹94 per share. A portion, ₹5.67 crore, will be an offer for sale by existing shareholders.

Established in December 2018, Vedant Poly Fabs makes flexible packaging materials for food, beverages and consumer goods, including 3-layer and 5-layer LD films, shrink films, barrier films, printed laminates, and milk and oil pouches. The funds raised will be used for business expansion, repayment of loans, and capital expenditure for new plant and machinery at its existing facility — a classic SME-IPO use of proceeds, and a useful reminder that public markets remain open to profitable small manufacturers even while private startup funding in India cools.

The company's financials show steady scaling. Revenue rose from ₹49.73 crore in FY2024 (Rs 4,972.92 lakh) to ₹115.31 crore in FY2026 (Rs 11,531.47 lakh), while profit after tax jumped from ₹0.64 crore (Rs 63.59 lakh) to ₹10.97 crore (Rs 1,096.62 lakh) over the same period. For the first quarter of FY2027, the company reported revenue of ₹30.49 crore (Rs 3,049.16 lakh) and profit after tax of ₹3.48 crore (Rs 347.81 lakh).

The market lot size for the IPO is 1,200 shares, and Affinity Global Capital Market Private Limited is managing the issue. For founders watching the SME board, Vedant's trajectory — eight years from founding to listing, with profits compounding faster than revenue — is the profile that gets through the SME IPO gate.