Incorporated in March 2022, Vegorama Punjabi Angithi Limited is a company primarily engaged in the food and beverage industry, operating a chain of restaurants under the “Punjabi Angithi” brand. The brand is known for offering affordable North Indian cuisine, particularly Punjabi-style dishes, in a quick-service restaurant (QSR) format. It caters to a broad customer base through dine-in, takeaway, and delivery services.
The company focuses on providing high-quality, value-for-money meals and has built a strong brand presence, especially in urban and semi-urban areas. With a growing number of outlets, Vegorama Punjabi Angithi aims to scale its operations through capital expenditure on new restaurant formats, centralized kitchens, and cloud kitchens.
The company operates 19 cloud kitchens and two fine-dining restaurants in the Delhi NCR area. The cloud kitchens range from 400 to 870 square feet, while the fine dining restaurant spans about 2,397 square feet.
As on February 28, 2026, the company has 306 employees across various departments.
Here are the key services offered by Vegorama Punjabi Angithi Limited:
Dine-In Services
Takeaway Services
Online Food Delivery
Cloud Kitchen Operations
Catering Services
Competitive Strength:
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 31.81 | 24.77 | 18.35 | 5.59 |
| Total Income | 105.35 | 102.06 | 66.37 | 16.91 |
| Profit After Tax | 9.04 | 8.22 | 4.64 | 0.84 |
| EBITDA | 12.40 | 10.86 | 6.04 | 1.16 |
| NET Worth | 23.37 | 14.34 | 6.12 | 1.47 |
| Reserves and Surplus | 10.75 | 14.29 | 6.07 | 1.42 |
| Total Borrowing | 3.62 | 5.05 | 4.00 | 0.23 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure for construction of banquet and fine dine restaurant | 11.82 |
| 2 | Capital Expenditure for construction of centralized kitchen | 4.27 |
| 3 | Capital Expenditure for roll out new cloud kitchen | 4.93 |
| 4 | Capital Expenditure for upgradation of the existing cloud kitchen facilities | 2.30 |
| 5 | General Corporate Purposes | |
| 6 | Issue Expenses | |
| Total | 23.32 |
| KPI | Dec 31, 205 | Mar 31, 2025 |
|---|---|---|
| ROE | 47.93% | 80.39% |
| ROCE | 53.73% | 76.03% |
| RoNW | 47.93% | 80.39% |
| PAT Margin | 8.60% | 8.11% |
| EBITDA Margin | 11.81% | 10.72% |
| Price to Book Value | 6.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.51 | 7.25 |
| P/E (x) | 11.82 | 10.61 |
| IPO Date | 20 to 22 May, 2026 |
| Listing Date | Wed, May 27, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹73 to ₹77 |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 49,84,000 shares (agg. up to ₹38 Cr) |
| Reserved for Market Maker | 2,51,200 shares (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 37,36,000 shares (agg. up to ₹29 Cr) |
| Offer for Sale | 9,96,800 shares of ₹10 (agg. up to ₹8 Cr) |
| Net Offered to Public | 47,32,800 shares (agg. up to ₹36 Cr) |
| Share Holding Pre Issue | 1,26,23,794 shares |
| Share Holding Post Issue | 1,66,10,994 shares |
Mr. Deepak Chadha, Mr. Subash Chander Chadha, and Mrs. Teenu Chadha.
| Share Holding Pre Issue | 99.41% |
| Share Holding Post Issue |
As per our analysis and Based on the information we have, this is the output.
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