Listing Performance
▲ 53.38%
Issue Price
₹77
Listing Price
₹118
Listed On
27 May 2026
- Price Band
- ₹73 – ₹77
- Lot Size
- 1600
- Lot Value
- ₹1,23,200
- Open Date
- 20 May 2026
- Close Date
- 22 May 2026
- Min Investment
- ₹1,23,200
IPO Timeline
Issue Opens
20 May 2026 · Wed
Issue Closes
22 May 2026 · Fri
Bidding Cut-off (UPI Mandate)
22 May 2026 · 5:00 PM IST
Allotment
25 May 2026 · Mon
Listing
27 May 2026 · Wed
About Vegorama Punjabi Angithi
Operates cloud kitchens and fine dine restaurants delivering food through online platforms, with approximately 91.93% of revenue from online food delivery platforms as of December 31, 2025.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: BSE SME
Strengths (6)
- •Pure vegetarian philosophy with no cross-contamination policy
- •Standardized culinary processes with in-house recipe development
- •Six distinct brands serving diverse vegetarian preferences
- •63% repeat customer base driven by quality consistency
- •Scalable cloud kitchen and aggregator partnership model
- •Founder-led growth with deep local market insights
Risk Factors (6)
- •Income Tax investigation into Company and Promoters regarding financial transactions and potential sales suppression in food and beverage sector
- •Inability to successfully implement growth strategy for new cloud kitchens and fine dine restaurants selection and expansion
- •First public issue with no formal market history; share price post-listing cannot be assured or predicted
- •High competition in rapidly consolidating industry could affect competitive position and business relationships
- •Future equity issuances or shareholder sales could dilute investor holdings and adversely affect share price
- •Financial instability in Indian and international markets could adversely affect operations and financial condition
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
▲ Listed +53.4%Mixed signals — moderate demand and average GMP suggest cautious participation. Apply based on company fundamentals rather than listing gain expectations.
Pre-listing prediction: NEUTRAL
IPO Details
| Registrar | Bigshare Services Pvt.Ltd. |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹38.38 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Corporate Makers Capital Limited |
Company Fundamentals
9 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in Vegorama Punjabi Angithi's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Vegorama Punjabi Angithi's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Vegorama Punjabi Angithi's filing.
Source: Vegorama Punjabi Angithi offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Mr. Deepak Chadha9,96,800 sh
Source: Vegorama Punjabi Angithi offer document (DRHP/RHP).
Board & Management
Board of Directors (7)
- Deepak Chadha₹0.78 Cr p.a.
Managing Director and Chairman
Bachelor of Commerce from Delhi University
19 years in business; instrumental role in business development, strategic partnerships and financial management in F&B sector
- Subash Chander Chadha₹0.14 Cr p.a.
Executive Director
45 years; retired as Joint Secretary to University Grants Commission; expertise in policy formulation, implementation and large scale projects
- Teenu Chadha₹0.27 Cr p.a.
Executive Director
3+ years in business leadership, brand development and digital growth
- Vimal Bhatnagar
Non-Executive Independent Director
Master of Commerce from Himachal University, CFA from ICFAI, Diploma in Business Finance, Honours Diploma in Network-Centered Computing from NIIT
Since 1994, faculty in accounts and finance; expertise in financial statements preparation, budgeting and taxation
- Sita Ram Shukla
Non-Executive Independent Director
Doctorate of Philosophy in Astrology from Maryland State University
19 years practicing astrology
- Shaleen Khurana
Non-Executive Independent Director
Bachelor of Homeopathic Medicine & Surgery, University of Delhi
- Babu Ram Somani
Non-Executive Independent Director
Chartered Accountant
Chartered Accountant; expertise in advising manufacturing, FMCG and import/export sectors; direct/indirect tax, project finance, data analysis and compliance
Key Managerial Personnel (2)
- Vishnu
Senior Management Personnel
11 years in Food Industry; managed daily operations, vendor coordination, inventory management, strategic planning for expansion
- Rajiv Vohra
Finance Head
Bachelor of Commerce from Delhi University
7 years in accounting and finance including budgeting, forecasting, financial reporting, accounts management and analytical review
Source: Vegorama Punjabi Angithi offer document (DRHP/RHP).
Industry & Market
Per National Restaurant Association of India (NRAI) and Indian Food Services Report (IFSR) 2024, a report commissioned by the company (not independent).
Use of IPO Proceeds
Total allocation: ₹22.95 Cr (excludes issue expenses)
Promoters
Deepak Chadha
Promoter and Managing Director · age 43
19 years in business
Bachelor of Commerce from Delhi University
Pre-issue: 94.44%
Subash Chander Chadha
Promoter and Executive Director · age 74
45 years in business
Bachelor of Arts from Delhi University and MA in Public Administration from HP University
Pre-issue: 4.96%
Teenu Chadha
Promoter
3+ years
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,23,200 |
| Retail (max) | 13 | 20,800 | ₹16,01,600 |
| S-HNI (min) | 14 | 22,400 | ₹17,24,800 |
| S-HNI (max) | 66 | 1,05,600 | ₹81,31,200 |
| B-HNI (min) | 67 | 1,07,200 | ₹82,54,400 |
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Vegorama Punjabi Angithi Limited | — | 6.51 | 80.39 | 2850.38 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Pvt.Ltd.→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 105.05 | 9.04 | 7.16 | — | 47.93% |
| FY24 | 65.95 | 4.64 | — | — | — |
| FY23 | 16.88 | 0.84 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Income | 16.91 | 66.37 | 105.35 |
| EBITDA | 1.16 | 6.04 | 12.4 |
| Net Worth | 1.47 | 6.12 | 23.37 |
| Cash Flow — Operating | 3.05 | 7.31 | 7.67 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
10.8x
Price ÷ EPS
EPS (FY25)
₹7
Earnings per share
RoNW
47.93%
Return on net worth
ROCE
53.73%
as reported in filing
EBITDA margin
11.8%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Subscription Status
Subscription data will appear once bidding begins.
Allotment Statistics
Basis of Allotment
Category-wise subscription & allotment ratio
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Related IPOs
Documents
Frequently Asked Questions
When is the Vegorama Punjabi Angithi IPO opening?
The Vegorama Punjabi Angithi IPO opens on 20 May 2026 and closes on 22 May 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Vegorama Punjabi Angithi IPO?
The price band for the Vegorama Punjabi Angithi IPO is ₹73 to ₹77. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Vegorama Punjabi Angithi IPO?
The minimum lot size is 1600 shares with a minimum investment of ₹1,23,200. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Vegorama Punjabi Angithi IPO today?
The latest Grey Market Premium for Vegorama Punjabi Angithi is ₹2 (+3.00%). GMP is unofficial data and is not a guarantee of listing price.
When will the Vegorama Punjabi Angithi IPO list on NSE and BSE?
The Vegorama Punjabi Angithi IPO is expected to list on 27 May 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Vegorama Punjabi Angithi IPO allotment status?
The registrar for this IPO is Bigshare Services Pvt.Ltd.. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Vegorama Punjabi Angithi IPO a mainboard or SME issue?
Vegorama Punjabi Angithi is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Vegorama Punjabi Angithi IPO?
You can apply for the Vegorama Punjabi Angithi IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of Vegorama Punjabi Angithi IPO?
Based on the current GMP of ₹2, the expected listing price of Vegorama Punjabi Angithi is ₹79 (issue price ₹77 + GMP ₹2). Note that GMP is unofficial grey market data and actual listing price may differ.
Should I subscribe to Vegorama Punjabi Angithi IPO?
Based on our algorithmic analysis, Vegorama Punjabi Angithi IPO is rated NEUTRAL with medium confidence. Mixed signals — moderate demand and average GMP suggest cautious participation. Apply based on company fundamentals rather than listing gain expectations. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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