Vaibhav Vyapaar IPO

Vaibhav Vyapaar IPO is a book-built issue of ₹40.54 crores. The issue is entirely a fresh issue of 77.96 lakh shares aggregating to ₹40.54 crores.

Vaibhav Vyapaar IPO is set to have an issue price band of ₹50 to ₹52 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor (retail investor) is ₹2,08,000 (4,000 shares), based on the upper price band. The minimum lot size for investment by a High Net-Worth Individual investor is 3 lots (6,000 shares), amounting to ₹3,12,000.

GetFive Advisors Private Limited is the Book Running Lead Manager, and Kfin Technologies Limited is the Registrar to the Issue.

About Vaibhav Vyapaar Limited

Vaibhav Vyapaar Limited, originally incorporated as Vaibhav Vyapaar Private Limited in February 2009 and converted into a public limited company in 2026, is a Reserve Bank of India-registered Non-Banking Financial Company engaged in providing unsecured personal loans to salaried and self-employed individuals through its fully digital lending platform, LoanFront. The company operates through both direct lending and co-lending models and also provides application and technology services to other Non-Banking Financial Companies. Its digital platform supports customer onboarding, Know Your Customer verification, credit assessment, loan origination, documentation, disbursement, repayment, and collections, with a focus on borrowers across urban and semi-urban regions of India.

The company operates from its registered office in Kolkata, West Bengal, and corporate office in Whitefield, Bengaluru, Karnataka. Its digital lending operations are conducted through the proprietary LoanFront application, which was acquired along with related software, backend application programming interfaces, websites, analytical tools, dashboards, and intellectual property under a Business/Asset Transfer Agreement. As of March 31, 2026, the platform had approximately 86 lakh registered users, around 18 lakh users who had completed Know Your Customer verification, and had disbursed approximately 24 lakh loans to around 5 lakh customers. Approximately 75% of the outstanding loan portfolio comprised repeat borrowers as of the same date.

As of July 31, 2026, Vaibhav Vyapaar Limited had an Asset Under Management of ₹812.41 crore, comprising ₹682.28 crore of on-book assets and ₹130.13 crore of off-book assets, with a net worth of ₹471.96 crore and a debt-to-equity ratio of 0.80. The company’s top five states contributed 77.09% of its total Asset Under Management, reflecting its presence across multiple geographies. The LoanFront application had also recorded more than 114 lakh downloads and cumulative loan disbursements of ₹1,500 crore as of June 2026.

Industry Outlook

• India’s retail credit market stood at ₹82 lakh crore (US$937 billion) in FY2025, growing at a 15.1% CAGR between FY2019 and FY2025. Retail credit grew another 14% in FY2025, supported by demand across housing, automobiles, credit cards, and personal loans.
• Non-Banking Financial Companies are witnessing double-digit Asset Under Management growth, alongside improving asset quality and profitability, creating a favourable environment for lenders such as Vaibhav Vyapaar to expand their loan portfolios.
• The increasing penetration of digital financial services is supporting credit accessibility and financial inclusion. India’s FinTech industry was estimated at ₹12.99 lakh crore (US$150 billion) by 2025, with the country having the third-largest FinTech ecosystem globally.
• Digital payments continue to provide a strong foundation for technology-led lending. Unified Payments Interface transactions reached 20.01 billion in August 2025, up 34% year-on-year in volume, while transaction value rose 21% year-on-year.
• Government and Reserve Bank of India initiatives such as Pradhan Mantri Jan Dhan Yojana, digital payments, and the expansion of Non-Banking Financial Companies and FinTech platforms have improved financial inclusion and helped support the broader credit cycle.
• The banking and financial services industry is increasingly adopting artificial intelligence, automation, and digital infrastructure to improve efficiency, security, and customer experience. Industry technology spending in India’s banking and investment services sector was expected to reach US$15 billion in 2025, up from US$13.2 billion in 2024.
• India’s financial services sector is becoming increasingly diversified, comprising commercial banks, insurance companies, Non-Banking Financial Companies, mutual funds, pension funds, and other financial institutions. However, commercial banks still account for more than 64% of total financial-system assets, leaving significant room for specialised lenders and Non-Banking Financial Companies to expand.

Vaibhav Vyapaar IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

• To augment the capital base of the company.
• Towards general corporate expenses.

Financial Performance of Vaibhav Vyapaar Limited

Vaibhav Vyapaar Limited Peer Details Comparison