IPO Details
RHP/DRHPIssue Date
28 May - 30 May'25
Investment/lot
₹ 135000
Price Range
42 - 45
Lot Size
3000
IPO Size
₹ 27.89 Cr
IPO Listing Details
Listing On
4 Jun'25
Issue Price
45
Listed Price
₹ 45
Retail Gain/Listing Gain
▲0.00%
Schedule of N R Vandana Tex Industries IPO
Start date
28/05/2025
End date
30/05/2025
Allotment of bids
02/06/2025
Refund Initiation
03/06/2025
Listing on exchange
04/06/2025
About N R Vandana Tex Industries IPO
The IPO of N R Vandana Tex Industries comprises a fresh issue. The total issue size is up to 62,00,000 equity shares in this 100% book-built issue. The IPO opens on May 28, 2025 and closes on May 30, 2025. The lot size of the IPO is 3000 and the price band is between ₹42 and ₹45.
The listing date is June 4, 2025. The allotment date is June 2, 2025. The initiation of refunds takes place on June 3, 2025. The credit of shares to the demat account will take place on June 3, 2025.
Objectives of N R Vandana Tex Industries IPO
- Funding working capital requirements of the company
- Prepayment / Repayment of loan
- General corporate purposes
N R Vandana Tex Industries IPO Valuation
| Investor | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Applicants | Not less than 15% of the net issue |
Individual Investors | Not less than 35% of the net issue |
Industry Outlook
India is the world's 3rd largest exporter of textiles and apparel. India ranks among the top five global exporters in several textile categories, with exports expected to reach US$100 billion.
The future of the Indian textiles industry looks promising, buoyed by strong domestic consumption as well as export demand. India is working on various major initiatives to boost its technical textile industry. Owing to the pandemic, the demand for technical textiles in the form of PPE suits and equipment was on the rise. The government is supporting the sector through funding and machinery sponsoring. The market for Indian textiles and apparel is projected to grow at a 10% CAGR to reach US$ 350 billion by 2030.
Company Information
N R Vandana Tex Industries Ltd is engaged in designing, manufacturing and wholesale business of cotton textile products including a variety of high-quality cotton sarees, salwar suits and bed sheets. Its products are recognised in the textile industry under their own brand name “Vandana” and “Tanaya”. The company has been awarded “Best Debutant – Apparels” by Ajio Business Partnership Meet – 2022.
N R Vandana Tex Industries Strengths
Wide Geographic Presence
N R Vandana Tex Industries Ltd sells its product through a network of wholesalers located at different locations of the country. As on February 28, 2025, their dedicated sales and marketing team comprises 20 members, actively engaging with potential clients, building strong relationships through personal interactions and a deep understanding of their needs.
Strong Distribution Network
As on September 30, 2024, the company has established a distribution network that spans pan India. Its supply chain and logistics systems are designed to support efficient and timely distribution, meeting the needs of its customer base. It had a network of 1041, 893, 886 and 826 wholesalers for the period ended September 30, 2024, in the Fiscal 2024, Fiscal 2023 and Fiscal 2022. Its widespread distribution network provides it wide geographical presence in terms of coverage of different states of the country.
Digital Sales Growth
The company distributes its products through several key digital platforms, including SOLV, Udaan, Bijnis, Jozzby and Ajio. This multi-platform approach ensures online visibility and accessibility, enabling it to reach a diverse customer base and optimise its sales operations.
Supplier Network Enabling Procurement at Predicable and Competitive Pricing
The company has been in the business of women’s apparels for over three decades. Its relationships with weavers/suppliers have been a core competitive strength for it. It has a diversified product portfolio for which it focuses on using its deep knowledge of the clusters and regions in which it operates to customise its product assortment keeping in mind local demands and preferences.
Risks of N R Vandana Tex Industries IPO
- Concentration on Women Saree Sales
The company’s business is highly concentrated on the sale of women’s sarees and is vulnerable to variations in demand and changes in consumer preference, could have an adverse effect on its business, results of operations and financial condition.
- Dependence on Job Workers
The company is dependent on its workers for manufacturing of its products. They do not have exclusive long-term agreements with any of their workers. Any disruption to its operations on account of its workers may have an effect on its business, results of operations and financial condition.
- Downgrading of Credit Rating
Any downgrading of its credit rating by a domestic or international credit rating agency may increase interest rates for its future borrowings, which would increase its cost of borrowings, and adversely affect its ability to borrow on a competitive basis.
- Dependency on a few suppliers
The company is dependent upon few suppliers for the material requirements of their business. Further, they do not have definitive agreements or fixed terms of trade with most of their suppliers. Failure to successfully leverage their relationships with existing suppliers or to identify new suppliers could adversely affect their business operations.
All Financial Information about N R Vandana Tex Industries
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer Comparison
There are no listed companies in India that are engaged in textile business segments in which N R Vandana Tex Industries operates or of a comparable size to that of the company. Accordingly, it is not possible to provide an industry comparison in relation to the company.
Anchor Investor Bidding Date NA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Cameo Corporate Services Ltd
- Book Running Lead Manager: Marwadi Chandarana Intermediaries Brokers Private Ltd
Business Model
The company offers a diverse range of products to various segments of the market that include printed sarees and embroidery sarees, unstitched salwar suits (“salwar suits”) and bedsheets across different price points thereby catering to customers across all market segments. Currently, its product catalogue lists more than 1500 different SKUs.
Company Growth Trajectory
The revenue of operations of N R Vandana Tex Industries Ltd grew from ₹177.1733 crores in FY 22 to ₹220.1080 crores in FY 24. Its operating EBITDA margin grew from 4.38% in FY 22 to 6.29% in FY 24, while PAT margin grew from 1.02% in FY 22 to 1.95% in FY 24. Wide geographic presence and strong distribution network have contributed to the company’s growth over the years.
Market Position
N R Vandana Tex Industries Ltd operates into a B2B business model, focusing on selling its products through a network of 1041 wholesalers as of September 30, 2024 spread across 31 states and union territories in India and through a channel of B2B e-commerce platform.
N R Vandana Tex Industries IPO Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 220.2122 | 195.6016 | 177.1976 |
Profit Before Tax (in ₹ crores) | 5.6212 | 2.6261 | 2.3367 |
Profit/(Loss) for the Period (in ₹ crores) | 4.2940 | 1.7994 | 1.8141 |
EPS in ₹ | 2.56 | 1.18 | 1.19 |
N R Vandana Tex Industries IPO Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 5.6212 | 2.6261 | 2.3367 |
Net Cash Flow Generated from/ (utilised in) Operating Activities (in ₹ crores) | (0.5025) | (12.8197) | (3.2687) |
Net Cash Flow Utilised in Investing Activities (in ₹ crores) | (0.0108) | (1.5039) | (0.2347) |
Net Cash Flow Generated From/ (utilised in) Financing Activities (in ₹ crores) | (0.4009) | 17.1639 | 3.2311 |
Cash and Cash Equivalents at the end of the Period/ Year (in ₹ crores) | 3.0575 | 3.9717 | 1.1313 |
How to Check Allotment Status of N R Vandana Tex Industries IPO?
1. Visit the Registrar’s Website
- Visit the official website of Cameo Corporate Services Ltd and click on IPO Status Links
- Click on any of the three links
- Choose Company Name and enter either your PAN number, Application No or DP Client ID
- Enter captcha and click on ‘Submit’ to know the status
2. Check on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of N R Vandana Tex Industries Ltd. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for N R Vandana Tex Industries Ltd?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
N R Vandana Tex Industries IPO FAQs
When is N R Vandana Tex Industries IPO listing date?
N R Vandana Tex Industries IPO will list on 2025-06-04.
What is the issue size of N R Vandana Tex Industries IPO?
27.89 is the issue size of N R Vandana Tex Industries IPO.
What is the minimum lot size required for N R Vandana Tex Industries IPO?
The minimum lot size is 3000 shares and the investment required is ₹135000.
What is the price band of the N R Vandana Tex Industries IPO?
The price band of N R Vandana Tex Industries IPO is ₹42 to ₹45.
Where can I read more about N R Vandana Tex Industries business?
You can read more about N R Vandana Tex Industries and its IPO from the company’s red herring prospectus (RHP) here.
What is the N R Vandana Tex Industries Ltd IPO?
The IPO of N R Vandana Tex Industries Ltd comprises a fresh issue of up to 62,00,000 equity shares.
When will the IPO of N R Vandana Tex Industries Ltd go live?
The IPO of N R Vandana Tex Industries Ltd will go live on 28th May 2025.
From where can I read more about the IPO of N R Vandana Tex Industries Ltd IPO?
You can read more about this IPO from the company’s draft red herring prospectus here.
