Vaibhav Vyapaar Limited SME IPO: Offer Terms After the Corrigendum, Financial Indicators, Risks and Tax on Sale

This article sets out the terms of the book-built SME fresh issue of Vaibhav Vyapaar Limited on NSE Emerge as they stand after the issuer's corrigendum, summarises the restated financial indicators and the risks identified in the prospectus, and explains the income-tax position on a later sale of the shares.

It matters now because the price band and minimum application size published in the first advertisement were changed within a day, and calendars and summaries still circulating carry the superseded figures. An application made on the wrong lot or band is rejected or mispriced. The article is informational; it contains no recommendation and no view on listing price. All documents dated 7, 8 and 9 October 2026 were reviewed as of 11 October 2026.

1. What are the current offer terms?

The Red Herring Prospectus (RHP) is dated 7 October 2026. The price-band advertisement of 8 October 2026 stated Rs 50-52. The issuer's corrigendum of 9 October 2026 revised the band to Rs 51-54 per share and fixed the minimum application at 4,000 shares, in multiples of 2,000 shares thereafter. The corrigendum supersedes both the advertisement and the placeholders in the RHP.

  • Issuer: Vaibhav Vyapaar Limited; registered office in Kolkata, corporate office in Bengaluru.
  • Promoters: Itha Venkata Raghava Gowrinath and Capfront Technologies Private Limited.
  • Instrument: fresh issue of up to 77,96,000 equity shares of face value Rs 5 each; there is no offer for sale.
  • Market-maker reservation: up to 3,90,000 shares; net issue up to 74,06,000 shares.
  • Book-running lead manager: Getfive Advisors Private Limited. Registrar: KFin Technologies Limited.
  • Schedule: anchor bidding on 12 October 2026; public bidding from 13 to 15 October 2026. Allotment and listing dates remain tentative until they occur.

Bidding is through ASBA/UPI. The RHP states a UPI mandate acceptance deadline of 5 PM on the issue-closing date, subject to the final schedule.

Issue size and minimum bid

The arithmetic is as follows.