Vaibhav Vyapaar IPO is an SME IPO raising ₹42 Cr at ₹51 – ₹54 a share. It listed on 21 Oct 2026 at ₹53, −2.0% against its issue price of ₹54, and trades at ₹53 today (−1.1% since issue). It was subscribed 3.80× in total.
3.8 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Read from the 349-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 336 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
Operating Cash Flow 208.53 (1,843.74) 30.52 (434.15)... Any failure to increase our revenues sufficiently to keep pace with our investments and other expenses could prevent us from achieving or maintaining a positive cash flow in the future.
the Company identified inaccuracies in regulatory reporting submitted to the RBI in the DNBS02 – Important Financial Parameters return for the financial year ended March 31, 2024, arising from incorrect internal policies relating to non-performing asset ("NPA") recognition and provisioning
Our AUM for stub period ended 31.07.2026 and Fiscal 2026, 2025 and 2024 consisted of unsecured loans which are susceptible to higher levels of credit risks and lower recovery rates as compared to secured loans.
Our digital lending operations rely on the continued permission granted by our holding company, Capfront Technologies Private Limited, to use a domain name registered in its name for our business purposes.
the said Forms CHG-9 are pending for approval with the Registrar of Companies. Further, at the time of issuance of such NCDs, the Company had not obtained an ISIN prior to issuance of the securities and consequently, the NCDs were not issued in dematerialised form as required under the Companies Act, 2013
The auditor resigned as the firm was not compliant with the applicable Chartered Accountant Regulations, 1988 and the Audit Quality Maturity Model requirements applicable to statutory auditors of listed companies.
the restated financial statements of our Company... have been furnished by a peer-reviewed chartered accountant who is not the statutory auditor of our Company.
appropriate stamp duty on such assets transfer under the applicable stamp laws was not paid at the time of its execution... there can be no assurance that the relevant authorities will not initiate proceedings... or require payment of any deficit stamp duty, interest, penalty or other charges.
loans extended to self-employed borrowers constituted approximately 46.21% of our total AUM, compared to 44.36% as of March 31, 2026... Self-employed borrowers are generally more susceptible to fluctuations in business performance, seasonal demand, changes in market conditions
a substantial portion of our AUM is concentrated in certain states... Uttar Pradesh 475.00, West Bengal 415.27, Gujarat 241.11
Our ability to enter into, maintain and expand co-lending and loan assignment arrangements with banks, NBFCs and other financial institutions may be affected by various factors... Any material reduction in the availability or demand for such arrangements... could materially and adversely affect our loan origination and funding capabilities
Our customer acquisition, onboarding and end-to-end digital lending operations are substantially dependent on the recognition, credibility and continued use of the 'LoanFront' trademark... Any material damage to or loss of the 'LoanFront' trademark could disrupt our operations
copies of certain prescribed forms and related challans filed with the Registrar of Companies ("RoC") in relation to appointment of auditors, are not traceable
the composition of our Board resulted in a change in management for which prior approval of the Reserve Bank of India ("RBI") was required under the applicable regulatory framework. The Company had intimated the RBI of such change; however, the requisite prior approval had not been obtained at the relevant time.
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed; the disclosed aggregate at stake is ₹0.0 Cr.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 0 | 0 | ₹0.0 Cr |
| Directors | 0 | 1 | 0 | ₹0.0 Cr |
| Promoters | 0 | 0 | 0 | ₹0.0 Cr |
Income Tax outstanding demand against director Natarajan Gopal for AY 2016: total ₹77,772 (₹36,390 demand + ₹41,382 accrued interest); ₹24,782 paid, balance ₹11,608 outstanding
Conversion: 0.78 lakhs = 0.0078 crore (1 crore = 100 lakh). Only disclosed proceeding is the single direct-tax matter against a non-promoter director. No criminal, regulatory/statutory, material civil or SEBI disciplinary proceedings against any Relevant Party. No subsidiaries or group companies litigation disclosed. Outstanding trade payables as on 31.07.2026 were 171.41 lakhs (4 MSMEs: 128.14 lakhs; 22 other creditors: 43.27 lakhs; 3 material creditors: 165.21 lakhs) — note: this is creditor dues disclosure, not litigation, and is not included in the litigation buckets.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
The full prospectus — business, financials, risk factors and litigation.
Which institutions were allotted shares before bidding opened, and how many.
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
The full prospectus — business, financials, risk factors and litigation.
