Textile manufacturer Vinod Texworld has fixed the price of its ₹42.83-crore initial share sale at ₹94 per share, with the issue set to open for subscription from September 9 to 11. According to reports from The Economic Times, the IPO is generating significant interest in the grey market with a 16% grey market premium (GMP), putting it in the spotlight among today's three SME IPO openings. The IPO is an entirely fresh issue of 45.56 lakh equity shares at the fixed price, with shares scheduled to list on the NSE SME with a tentative listing date fixed as September 17, 2026. The lot size is set at 1,200 shares, requiring retail investors to bid for a minimum of 2,400 shares (₹2,25,600), while the basis of allotment is expected to be finalized on September 15.
As reported by The Hindu BusinessLine, the company will deploy ₹6.39 crore of the proceeds towards expansion of its existing fabric processing and dyeing plant, while ₹7.15 crore will be used to repay outstanding borrowings. Another ₹20.35 crore has been earmarked for working capital requirements, with ₹5.97 crore proposed to be used for general corporate purposes. Yash Vinod Mittal, Promoter and Managing Director of Vinod Texworld, stated that the IPO aims to strengthen existing operations and reduce borrowings. Novus Capital Advisors serves as the sole book-running lead manager for the IPO, with Kfin Technologies Ltd. as the registrar.
According to the company's financial data, Vinod Texworld reported revenue from operations of ₹342.64 crore in FY26, representing growth from ₹271.49 crore in FY24. During the same period, profit after tax rose to ₹10.41 crore from ₹5.49 crore. The company has established a presence across Gujarat, Punjab, Haryana, Delhi, Rajasthan, Uttar Pradesh and West Bengal.
Today marks the opening of three Indian SME IPOs alongside Vinod Texworld, with Amtech Esters priced at ₹71-75 per share (₹17.88 crore issue size) and Infrax Renewable at ₹104 per share (₹40.88 crore combined fresh issue and OFS). As per The Economic Times, Amtech Esters is also attracting a 9% premium in grey markets, while Infrax Renewable shows zero GMP, suggesting a potentially flat listing. The combined offerings aim to raise around ₹101.59 crore from investors, giving investors a three-day window to submit their bids across all three issues.
