Vahh Chemicals IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|---|
| NII | 1.33x | 4.38x | 4.38x | 4.38x | 74.26x |
| bNII > ₹10L | 1.33x | 4.38x | 4.38x | 4.38x | 74.18x |
| sNII 2-10L | 1.33x | 4.38x | 4.38x | 4.38x | 74.18x |
| Retail | 1.30x | 8.68x | 8.68x | 8.68x | 100.18x |
| Total | 1.32x | 6.53x | 6.53x | 6.53x | 87.22x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2025 | 2026 |
|---|---|---|
| Revenue | 23.75 | 43.19 |
| Expense | 20.07 | 36.24 |
| Profit (PAT) | 2.58 | 5.09 |
| Total Assets | 39.28 | 43.87 |
Peer Comparison
| Company | EPS | P/E |
|---|---|---|
| Vahh Chemicals This IPO | - | 10.62 |
| Bhatia Colour Chem Limited | 2.95 | 18.07 |
Promoters & Holding Pattern
Promoters: Hiren Indravadan Desai, Hetal Hirenbhai Desai, and Aayush Hiren Desai
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 60,63,868 | 88.52% |
| Promoter Holding Post Issue | 83,05,868 | 64.63% |
Strengths & Risks
- Strongly subscribed — 87.2x overall (so far).
- Solid profit margin — 12.6%.
- Strong return on equity — 65%.
- Revenue fell 30% in the latest reported year.
- Elevated leverage — debt/equity of 1.64.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Vahh Chemicals
Vahh Chemicals, founded in 2019, has been engaged in manufacturing and trading textile auxiliary chemicals in India. The company buys and mixes textile chemicals and uses them in different fabric processing, such as the pre-treatment of fabric, dyeing, printing, and finishing processes. Its customers include dyeing and printing houses, and they also offer customized chemical solutions as per the customer’s requirements. These chemicals are used in the textile industry to improve the fabric quality, texture, enhance colour vibrancy, and ensure the durability of textile products. Their products can be used in various industries such as cotton, polyester, silk, and synthetic blended fabrics. Moreover, Vahh Chemicals also offers specialty chemicals with additional properties like water repellence, flame resistance, anti-microbial effects, UV protection, and wrinkle-free finishes.
Company Contact Information
Vahh Chemicals Ltd., Plot 2/5198 ETC, 5th Floor,5003,, World Trade Centre, Near Udhna Darawaja, Ring Road, Surat, Gujarat, 395002
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding incremental working capital requirements of our Company | 5.84 |
| Setting up a new manufacturing facility at Surat, Gujarat (“Proposed facility”) | 1.84 |
| Repayment of loan availed by our Company | 1.79 |
| General Corporate Purpose | - |
Resources & Documents
Vahh Chemicals IPO - Quick Take
Vahh Chemicals has fixed the issue price at Rs 60 per share for an issue size of Rs 13 crore. The stock listed with a 16.67% gain versus its issue price on June 11, 2026.
The issue is promoted by Hiren Indravadan Desai, Hetal Hirenbhai Desai, and Aayush Hiren Desai with Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards funding incremental working capital requirements of our Company (Rs 6 crore) and setting up a new manufacturing facility at Surat, Gujarat (“Proposed facility”) (Rs 2 crore).
At the upper end of the price band, the issue is priced at a post-issue P/E of 10.62x. On fundamentals, the company is posting revenue growth of -30.4%, a profit margin of 12.6%, return on equity of 65.4% in its most recent reported period. Listed peers in this segment include Bhatia Colour Chem Limited (P/E 18.07x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Vahh Chemicals IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 5%. Of the 47 SME IPOs we have tracked with a final GMP under 10%, 18 listed above, 10 flat and 19 below the issue price; Vahh Chemicals listed 16.7% above its issue price.
See the full Vahh Chemicals GMP history and trend, or learn how grey market premium works and how reliable it is.
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