Vashishtha Luxury Fashion IPO is a book-built fresh issue of ₹8.87 crore, open for subscription from September 5–10, 2025. With a price band of ₹109–₹111 per share and minimum retail investment of ₹2.66 lakh, the SME IPO aims to fuel global expansion in high-fashion embroidery. Backed by profitable FY25 figures and niche export craftsmanship, here’s a deep-dive into key metrics, timelines, strengths, risks, FAQs, and official links.
1. IPO Overview Vashishtha Luxury Fashion IPO
- Issue Type: Pure fresh issue (no OFS) — ~799,200 equity shares. mintMoneycontrol
- Total Issue Size: ₹8.87 crore. The Economic TimesMoneycontrol
- Price Band: ₹109–₹111 per share. SamcoMoneycontrol
- Face Value: ₹10 per share (standard). SamcoGoodreturns
- Lot Size: 1,200 shares (2 lots). Minimum retail investment: ₹2.66 lakh at upper band. ZerodhamintGroww
- Exchange: BSE SME. SamcoGoodreturns
2. IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Sep 5, 2025 |
| IPO Closes | Sep 10, 2025 |
| Allotment Finalization | Sep 11, 2025 |
| Refunds Initiated | Sep 12, 2025 |
| Demat Credit | Sep 14, 2025 |
| Listing Date | Sep 15, 2025 |
| ZerodhaMoneycontrolGoodreturns |
3. Company and IPO Objectives
- Company Background: Established as Vashishtha Exports in 2010, converted to limited company in 2022–23, the company is a 100% export house specializing in high-fashion hand embroidery, garments, and accessories. Operations cater to clients across Europe, UK, USA, Australia, and Turkey. Samcoipoplatform.comGoodreturns
- Use of IPO Proceeds:
- Embroidery machines expansion: ₹3.64 crore
- Repayment of borrowings: ₹2.69 crore
- General corporate purposes: ₹2.54 crore ZerodhaBajaj Markets
4. Financial Snapshot & Valuation
| Year Ending Mar | Revenue (₹Cr) | PAT (₹Cr) | Net Worth (₹Cr) |
|---|---|---|---|
| 2023 | 6.86 | 1.05 | 1.47 |
| 2024 | 7.45 | 0.32 | 1.78 |
| 2025 | 10.88 | 1.42 | 4.64 |
| GoodreturnsIPO Premium |
- Margins & Ratios (FY25):
- RoE: ~28.3%
- RoCE: ~31.4% AInvest
- Valuation (Upper Price ₹111):
- Approx P/E ≈ ₹111 / (₹1.42 ÷ post-issue shares) — estimated at 12–14× based on back-of-envelope. Given RoE and growth, valuation is reasonable for niche exporters.
5. Market Sentiment & GMP
- Grey Market Premium (GMP): Currently ₹0, signaling neutral listing expectations. The Economic TimesIPO Premiummint
Subscription Status (Day 1 Insight)
- Day 1 Subscription (Sept 5): Overall ~8%
- Retail: ~13%
- NII: ~1%
- QIB: 0% mint
Strengths & Risks
Strengths
- Strong export niche with high craftsmanship
- 100% export orientation to diverse geographies
- Improving financials (revenue & PAT up in FY25)
- Reasonable valuation with solid RoE/RoCE fundamentals
Risks
- Seasonality-sensitive fashion demand
- High customer concentration — top 3 clients are large share of revenue Groww
- Supplier dependency (top supplier 60–66% of purchases)Groww
- Currency fluctuation risks due to full export model
- Subdued initial subscription suggests cautious investor sentiment
Google-Style FAQs
- How to check allocation/allotment status?
Use the Bigshare Services IPO Allotment link — online post-allotment date. Registrar is Bigshare Services. GoodreturnsIPO Premium - What is the GMP today?
GMP is currently ₹0, indicating flat listing expectations. - When is the listing date?
Listing is expected on September 15, 2025, on BSE SME. SamcoZerodhaGoodreturns - What’s the minimum application?
1,200 shares → ₹1.33 lakh at lower band (₹109). Many brokers require 2 lots = ₹2.66 lakh. GoodreturnsGroww - What’s driving the company’s performance?
Reputed international client base, skilled artisans, and expansion in machinery—aided growth in FY25.
Important Links
- RHP / Prospectus: (available via BSE/SEBI official site)
- Allotment Status – Bigshare Services: https://ipo.bigshareonline.com/IPO_Status.html
- Listing Details – BSE SME: https://www.bseindia.com/
- Company Website & Contact: As per RHP (Mumbai address, email, etc.) Goodreturns
- tredingmarket.com/
Conclusion
The Vashishtha Luxury Fashion IPO is an opportunity to invest in a boutique export-fashion SME showing real growth and craftsmanship. Though initial investor response has been tepid, the company’s financial momentum and niche market position offer potential. Given the modest valuation, it could be considered by investors with a medium-term outlook—while keeping in mind the seasonality, concentration, and currency risks.