Incorporated in February 2009, Vaibhav Vyapaar Limited is a Non-Banking Financial Company (NBFC) providing unsecured personal loans to salaried and self-employed individuals through its fully digital lending platform.
The Company provides personal loans under the “LoanFront” brand through its mobile application, which supports loan origination, customer verification, due diligence, underwriting, documentation, disbursal and repayment. It provides loans through both direct lending and co-lending arrangements with other NBFCs and also generates revenue by providing application and technology services to other NBFCs. Its lending operations primarily cater to salaried and self-employed borrowers, including first-time borrowers and lower-income salaried professionals across urban and semi-urban regions of India.
The Company follows a technology-enabled lending model supported by digital verification, credit assessment, credit decisioning and risk evaluation tools. It has been operating its digital lending business through the LoanFront platform for the last six years. The Company was acquired by CapFront Technologies Private Limited in October 2019, following which it continued to expand its digital lending operations. As of July 31, 2026, the Company had Assets Under Management (AUM) of ₹812.41 crore, net worth of ₹471.96 crore and a debt-to-equity ratio of 0.80.
As of July 31, 2026, the Company had 56 employees, including 17 employees in technology, 11 in operations and 11 in risk functions. Its operations are supported by an experienced management team with expertise in digital lending and financial services.
Competitive Strengths
Vaibhav Vyapaar Ltd.’s revenue increased by 48% and profit after tax (PAT) rose by 33% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Jul 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 96.16 | 84.23 | 55.04 | 61.18 |
| Total Income | 18.15 | 37.64 | 25.34 | 25.46 |
| Profit After Tax | 3.01 | 1.97 | 1.48 | 0.45 |
| EBITDA | 7.51 | 10.84 | 7.07 | 5.38 |
| NET Worth | 47.20 | 29.19 | 27.22 | 25.74 |
| Reserves and Surplus | 37.00 | 21.14 | 23.19 | 21.71 |
| Total Borrowing | 37.90 | 46.80 | 22.66 | 26.76 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Aye Finance Ltd. | Mainboard | ₹1,010.00 Cr | ₹129 | 14.11 | ₹128.91 | -0.07% | ₹156.94 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augment the capital base of the company | 32.00 |
| 2 | General Corporate Purpose | |
| Total | 32.00 |
| KPI | Jul 31, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 7.87% | 6.99% |
| ROCE | 12.44% | 26.99% |
| Debt/Equity | 0.80 | 1.60 |
| RoNW | 6.37% | 6.75% |
| PAT Margin | 16.70% | 5.36% |
| EBITDA Margin | 41.72% | 29.47% |
| NAV | 23.15 | 18.13 |
| P/B (x) | 2.25 | 2.87 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 0.97 | 3.20 |
| P/E (x) | 53.61 | 16.25 |
| IPO Date | 13 to 15 Oct, 2026 |
| Listing Date | Wed, Oct 21, 2026 |
| Face Value | ₹5 per share |
| Price Band | ₹51 to ₹54 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 77,96,000 shares (agg. up to ₹42 Cr) |
| Reserved for Market Maker | 3,90,000 shares (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 74,06,000 shares (agg. up to ₹40 Cr) |
| Net Offered to Public | 74,06,000 shares (agg. up to ₹40 Cr) |
| Share Holding Pre Issue | 2,03,86,423 shares |
| Share Holding Post Issue | 2,81,82,423 shares |
The promoters of the company are Itha Venkata Raghava Gowrinath and CapFront Technologies Pvt.Ltd.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue | 72.34% |
As per our analysis and Based on the information we have, this is the output.
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