Vegorama Punjabi Angithi IPO - Company Analysis
Vegorama Punjabi Angithi IPO under the SME IPO category is a bookbuild issue of Rs. 38.38 Cr by Vegorama Punjabi Angithi Limited and is a business that operates a chain of eateries under the "Punjabi Angithi" name and is mostly involved in the food and beverage sector. The brand is well-known for providing quick-service restaurants (QSRs) with reasonably priced North Indian food, especially Punjabi-style dishes. With dine-in, takeout, and delivery options, it serves a wide range of patrons.
The company has established a strong brand presence, particularly in metropolitan and semi-urban areas, and focuses on offering high-quality, reasonably priced meals. Vegorama Punjabi Angithi wants to expand its business by investing in new restaurant concepts, centralised kitchens, and cloud kitchens.
Vegorama Punjabi Angithi IPO Details
The Vegorama Punjabi Angithi IPO date of opening is 20 May 2026, its initial public offering will end on 22 May, IPO allotment on May 25 and refund initiation on May 26, 2026.
The Rs. 38.38 crore new SME IPO comprises a combination of fresh issue of 0.40 crore shares (Rs. 30.70 Cr) and offer for sale of 0.10 crore shares (Rs. 7.68 Cr).
The Vegorama Punjabi Angithi IPO listing date (expected) might be Wednesday, May 27, 2026, and listing at the BSE and SME.
The Vegorama Punjabi Angithi IPO price band is Rs. 73 to Rs. 77.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
May 20, 2026 |
|
IPO Closing Date |
May 22, 2026 |
|
IPO Allotment Date |
May 25, 2026 |
|
Refund Initiation |
May 26, 2026 |
|
IPO Listing Date |
May 27, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
24.77 |
18.35 |
5.59 |
|
Total Income |
102.06 |
66.37 |
16.91 |
|
Profit After Tax |
8.22 |
4.64 |
0.84 |
|
EBITDA |
10.86 |
6.04 |
1.16 |
|
Net Worth |
14.34 |
6.12 |
1.47 |
|
Reserves and Surplus |
14.29 |
6.07 |
1.42 |
|
Total Borrowing |
5.05 |
4.00 |
0.23 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
547.44 |
730.85 |
305.12 |
|
Net Cash Flow Investing Activities |
(635.61) |
(581.16) |
(51.34) |
|
Net Cash Flow Financing Activities |
67.38 |
372.88 |
86.43 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- Capital Expenditure for the construction of a banquet and fine dining restaurant. ~Rs. 11.82 Cr.
- Capital Expenditure for the construction of a centralized kitchen. ~ Rs. 4.27 Cr.
- Capital Expenditure for rolling out a new cloud kitchen. ~ Rs. 4.93 Cr.
- Capital Expenditure for the upgradation of the existing cloud kitchen facilities. ~ Rs. 2.30 Cr.
- General Corporate Purposes.
Listed Peers of Vegorama Punjabi Angithi Ltd.
|
Companies |
Face Value (Rs.) |
EPS |
PE Ratio |
|
Speciality Restaurants Limited |
10 |
4.45 |
23.73 |
|
Vikram Kamats Hospitality Limited |
10 |
0.48 |
85.54 |
Valuation
|
KPI |
Value (Mar 31, 2025) |
|
ROE |
80.39% |
|
ROCE |
76.03% |
|
RoNW |
80.39% |
|
PAT Margin |
8.11% |
|
EBITDA Margin |
10.72% |
|
Price to Book Value |
6.78 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 6.51 from the last year, the resulting P/E ratio is 11.82x.
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IPO's Strengths
- The Cloud Kitchens/Fine Dining Restaurant's prominent location.
- Well-known brand in the food sector.
- Appealing offering with competitive pricing that is built on ongoing menu innovation and customer focus.
- Knowledgeable employees and a management-led, values-driven corporate culture.
IPO's Weaknesses
- Operational Disruption Risk
- Dependence on Online Food Platforms
- Changing Consumer Preference Risk.
Vegorama Punjabi Angithi IPO GMP (Grey Market Premium)
Vegorama Punjabi Angithi IPO GMP today is Rs. 15 as of 19 May 2026, while writing this information. A price band set at Rs. 77 suggests that the estimated listing price of the IPO could be around Rs. 92, indicating a gain/loss of 19.48%.
Vegorama Punjabi Angithi IPO Summary
|
IPO Opening & Closing Date |
20 May, 2026 to 22 May, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 73 to Rs. 77 per Share. |
|
Lot Size |
1600 Shares |
|
Issue Size |
49,84,000 Shares (Rs. 38 Cr) |
|
Offer for Sale |
9,96,800 Shares (Rs. 8 Cr) |
|
Fresh Issue |
37,36,000 Shares (Rs. 29 Cr) |
|
Listing at |
BSE, SME |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Bigshare Services Pvt. Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (3200 Shares) for Rs. 2,46,400, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (4800 Shares) for Rs. 3,69,600.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Vegorama Punjabi Angithi IPO Allotment Status
To check the Vegorama Punjabi Angithi IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Vegorama Punjabi Angithi Ltd.
- Mr. Deepak Chadha
- Mr. Subash Chander Chadha
- Mrs. Teenu Chadha.
|
Pre-Issue Promoter Shareholding |
99.41% |
|
Post-Issue Promoter Shareholding |
- |
IPO Lead Managers
- Corporate Makers Capital Ltd.
Dividend Policy
The company has not paid a dividend during the last three financial years.
Conclusion
Vegorama Punjabi Angithi IPO shows strong revenue growth, healthy profitability, and expansion plans through restaurants, centralized kitchens, and cloud kitchens. However, investors should also consider SME IPO risk, food business competition, and dependence on online platforms before applying.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To Read the Prospectus of the Company, Click Here to Download the DRHP.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
