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N R Vandana Tex Industries IPO
N R Vandana Tex Industries Ltd
₹1,26,000 /3000 sharesMinimum Investment
N R Vandana Tex Industries IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹45.00 | ₹45.00 | ₹0.00 (0.00%) |
N R Vandana Tex Industries IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 28 May ‘25 - 30 May ‘25 | ₹2,52,000 | 3,000 | ₹42 - ₹45 |
| Issue Size | IPO Doc |
|---|---|
| 27.89Cr | RHP PDF |
Subscription rate
As of 30 May'25, 05:00 PM
| Qualified Institutional Buyers | 36.54x |
| Non-Institutional Investor | 422.53x |
| Retail Individual Investor | 0.00x |
| Total | 93.96x |
About N R Vandana Tex Industries
Founded in
1992
Managing director
Mr Prabhu Lohia
Parent organisation
N R Vandana Tex Industries Ltd
Strengths & Financials of N R Vandana Tex Industries
Strengths
Risks
As of February 28, 2025, N R Vandana Tex Industries claims to have a dedicated sales and marketing team of 20 members who actively engage with a wide network of wholesalers across India. The company claims to leverage personal interactions and local market connections to expand its reach and build long-term relationships, often aided by word-of-mouth referrals from existing clients.
The company claims to have built a pan-India distribution network with 1,041 wholesalers as of September 30, 2024. This network has grown steadily from 826 wholesalers in FY22 and supports nationwide coverage.
N R Vandana Tex Industries claims to distribute its products through multiple B2B e-commerce platforms, including SOLV, Udaan, Bijnis, Jozzby, and Ajio.
N R Vandana Tex Industries claims to offer a diversified product portfolio in the women’s apparel and home furnishing segments, with over 1,500 stock-keeping units (SKUs).
The company claims to have developed long-standing relationships with weavers and suppliers across various clusters. The company believes these relationships enable it to secure favourable pricing, exclusive designs, and flexible payment terms, contributing to an efficient procurement cycle and enabling competitive product pricing.
N R Vandana Tex Industries has been assigned a credit rating of CRISIL BB/Stable on its long-term borrowings.
The company has witnessed a consistent increase in revenue from operations. It increased from Rs 177.17 crore in FY22 to Rs 195.24 crore in FY23 and Rs 220.11 crore in FY24.
N R Vandana Tex Industries generates a significant portion of its revenue from the sale of a single product, women’s sarees. It contributed Rs 125.26 crore (98.60 percent) to the company’s total revenue in the period ended September 24, 2024, Rs 218.55 crore (99.29 percent) in FY24, Rs 194.82 crore (99.79 percent) in FY23, and Rs 177.17 crore (100 percent) in FY22. Any fluctuations in demand or changes in consumer preference could harm the company’s business operations and financial condition.
N R Vandana Tex Industries relies significantly on job workers for the manufacturing of its products. It engaged 191 workers in the period ended September 30, 2024, 159 workers in FY24, 166 workers in FY23, and 178 workers in FY22. Among them, only 19, 26, 22, and 19 workers in the period ended September 30, 2024, FY24, FY23, and FY22, respectively, have formal agreements with the company. Furthermore, the majority of job workers are concentrated in Gujarat, which exposes the company to regional risks such as political, social, or economic developments affecting that area.
The top 10 suppliers accounted for 49.39 percent of the company’s total purchases in the period ended September 30, 2024, 49.29 percent in FY24, 46.31 percent in FY23, and 50.65 percent in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company’s cost of raw materials consumed accounted for 48.96 percent of its revenue in the period ended September 30, 2024, 61.44 percent in FY24, 73.77 percent in FY23, and 60.26 percent in FY22. If the company is unable to manage these costs effectively or raise product prices to offset increased raw material costs, its margins, cash flows, and profitability could be adversely impacted.
A substantial portion of the company’s revenue is derived from West Bengal. It accounted for Rs 96.32 crore (75.83 percent), Rs 170.73 crore (77.57 percent), Rs 147.63 crore (75.61 percent), and Rs 131.84 crore (74.41 percent) of the company’s total revenue in the period ended September 30, 2024, FY24, FY23, and FY22, respectively. Any adverse political, economic, or social developments in this region could significantly impact the company’s operations and revenue.
The company reported negative cash flow from investing activities, amounting to Rs 0.01 crore in FY24, Rs 1.50 crore in FY23, and Rs 0.23 crore in FY22. Furthermore, negative cash flow from operating activities amounted to Rs 0.50 crore in FY24, Rs 12.82 crore in FY23, and Rs 3.27 crore in FY22. Additionally, the company reported negative cash flow from financing activities amounting to Rs 0.40 crore in FY24. If the company is not able to generate sufficient cash flow in the future, it may face liquidity challenges.
The company, its promoter and promoter entities are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company’s business depends on its operating facility in Kolkata. Any loss, shutdown, or disruption at this facility could materially and adversely affect the company’s business, financial condition, and results of operations.
The company’s business is impacted by seasonality, with higher demand during the festive season. Any inability to manage these fluctuations in sales and inventory could adversely affect its cash flows, financial condition, and business operations.
As of February 28, 2025, N R Vandana Tex Industries had outstanding financial indebtedness of Rs 65.55 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
N R Vandana Tex Industries Financials
*All values are in Rs. Cr
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Application Details of N R Vandana Tex Industries IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹42 - 45 | ₹2 - 5 Lakh |
| High Networth Individual | ₹42 - 45 | ₹2 - 5 Lakh |
For N R Vandana Tex Industries IPO, eligible investors can apply as Regular.