Vahh Chemicals IPO Sees 77% Subscription on First Day of Bidding

Vahh Chemicals IPO Opens for Subscription

The initial public offering (IPO) of Vahh Chemicals has opened for subscription on Thursday, 4 June, and will close on Monday, 8 June. The SME issue is priced at ₹60 per equity share, with a face value of ₹10 per share. Retail investors can bid for a minimum lot of 4,000 shares, translating into an investment of approximately ₹2.4 lakh. For high-net-worth individuals (HNIs), the minimum application size is 6,000 shares, requiring an investment of around ₹3.6 lakh.

Vahh Chemicals is an ISO 9001:2015-certified company engaged in the manufacturing, supply, and trading of textile auxiliary chemicals used across the textile processing value chain. The company offers a broad portfolio of products for pre-treatment, dyeing, printing, and finishing applications, catering primarily to dyeing and printing houses with customised chemical formulations. As of September 30, 2025, Vahh Chemicals had 92 stock-keeping units (SKUs) serving various textile substrates, including cotton, polyester, silk, and synthetic blends.

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The company operates through three business segments, with its nutrition business conducted through subsidiary HSHS Nutraceuticals Limited. The subsidiary markets health supplements under the "Divine Nutrition" brand across India.

The grey-market premium (GMP) of Vahh Chemicals IPO is ₹11. Considering the upper end of the IPO price band and the current GMP, the estimated listing price of Vahh Chemicals shares is ₹71 apiece, which is 18.33% above the IPO price of ₹60. The minimum GMP recorded is ₹0.00, whereas the maximum GMP is ₹15, according to analysts.

As of the latest update, the Vahh Chemicals IPO subscription status was 77% on day 1, with the retail portion subscribed at 68% and the non-institutional investor (NII) portion booked at 85%. The company has received bids for 16,32,000 shares against 21,28,000 shares on offer at 13:59 IST, according to chittorgarh.com.

The Vahh Chemicals IPO is a fixed-price offering that raises ₹13.45 crore and comprises solely of a fresh issuance of 22.42 lakh shares. According to the company, the funds generated from the IPO will be allocated for working capital needs and general corporate purposes. Marwadi Chandarana Intermediaries Brokers serves as the book-running lead manager for the issue, while Kfin Technologies acts as the registrar. Mansi Share & Stock Broking functions as the market maker.

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