Vardhman Appliances Ltd. IPO Details
Vardhman Appliances was incorporated on March 21, 1983. The company is a vertically integrated EMS provider offering OEM and ODM solutions for fans, kitchen appliances, home comfort products and electrical components to leading consumer appliance brands. Through its subsidiary Lazer, it also sells consumer electrical and domestic appliances under the “Lazer” brand, gaining direct market and customer insights
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 25.0 M | - | - | ₹2,500.0 M | DRHP DOC |
Vardhman Appliances issue details
Vardhman Appliances has 25.0 M shares on offer
Vardhman Appliances IPO issue size is ₹ 2,500.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Vardhman Appliances IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Vardhman Appliances NUMBER OF SHARES ON OFFER
Vardhman Appliances FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 869.6 | 22.5 | 1.5 | -23.5 | 6.0% |
| FY25 | 835.9 | 18.5 | 15.6 | 3.9 | 5.4% |
| FY24 | 758.5 | 21.8 | 42.6 | 35.9 | 6.1% |
Vardhman Appliances INFORMATION ON IPO ISSUE
About Vardhman Appliances
Vardhman Appliances was incorporated on March 21, 1983. The company is a vertically integrated EMS provider offering OEM and ODM solutions for fans, kitchen appliances, home comfort products and electrical components to leading consumer appliance brands. Through its subsidiary Lazer, it also sells consumer electrical and domestic appliances under the “Lazer” brand, gaining direct market and customer insights
Object of the Issue
- Funding capital expenditure requirements for setting up a new project at Baghpat, Uttar Pradesh
- Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by the company
- Investment in its wholly owned subsidiary, Lazer India Private Limited, for prepayment or scheduled repayment, in full or part, of certain outstanding borrowings
- General corporate purposes
Vardhman Appliances - PROMOTERS
| Name |
|---|
| Parmod Kumar Jain |
| Subodh Kumar Jain |
| Vinod Kumar Jain |
| Piyush Jain |
| Akhil Jain |
| Siddharth Jain |
| Sambhav Jain |
| Vineet Jain |
Vardhman Appliances - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Parmod Kumar Jain | Chairman & Managing Director |
| Piyush Jain | Joint Managing Director |
| Siddharth Jain | Executive Director |
| Sambhav Jain | Executive Director |
| Vineet Jain | Executive Director |
| Mamraj Agarwal | Independent Director |
| Apeksha Lodha | Independent Director |
| Pradyumna Narendranath Poddar | Independent Director |
| Mukesh Gupta | Independent Director |
| Suresh Jain | Independent Director |
Vardhman Appliances Book Running Lead Manager
IDBI Capital Markets & Securities Limited
val.ipo@idbicapital.com
Pantomath Capital Advisors Private Limited
vardhman.ipo@pantomathgroup.com
Vardhman Appliances Registrar to the Offer
MUFG Intime India Private Limited
vardhmanappliances.ipo@in.mpms.mufg.com
Vardhman Appliances Strengths
Diversified EMS capabilities
The company is a vertically integrated EMS provider offering OEM and ODM solutions for fans, kitchen appliances, home comfort appliances and components to leading national and international consumer appliance brands in India. Its capabilities span product conceptualisation, design, development, sourcing, manufacturing, quality assurance, packaging and delivery, enabling greater control over quality, processes and lead times
Client relationship
The company has established longstanding relationships with leading consumer appliance brands, including Usha International, RR Kabel, Voltas Beko, Singer India, GM Elektra and Cello World, supported by repeat business across multiple product categories. The number of repeat consumer appliance brands increased from 22 in FY24 to 32 in FY26, reflecting customer retention and opportunities to cross-sell additional products
Diversified product portfolio
The company offers a wide product portfolio across fans, kitchen appliances, home comfort appliances and components, covering both heating and cooling categories and enabling diversification across different demand and seasonal patterns. Its multi-category capabilities and design and development expertise help meet evolving customer requirements, shorten product development timelines and accelerate new product launches
Vardhman Appliances Risks
Seasonal demand
The company’s product portfolio spans fans, kitchen appliances, home comfort appliances and components, with the first three categories contributing 89.47%, 89.64% and 88.90% of Revenue from Operations in FY26, FY25 and FY24, respectively. Demand varies by season, with heating appliances generally seeing higher demand in winter and cooling appliances in warmer periods, and a decline in one category may not always be offset by another
Contractual & quality risks
The company is required to meet customer specifications, quality standards, delivery schedules, warranties and other contractual requirements under its purchase orders and manufacturing or supply agreements. Defects, quality issues or non-compliance may lead to product rejection, returns, rework, warranty claims, penalties or termination of customer arrangements, affecting its business, reputation, financial performance and cash flows
Product development risk
The company’s competitiveness depends on its ability to develop products and adapt to changing customer requirements, specifications, technology and industry standards. Failure to develop or modify products and manufacturing processes in a timely and cost-effective manner may affect its business, operations and financial condition
IPO FAQs
The promoters of the company are Parmod Kumar Jain, Subodh Kumar Jain, Vinod Kumar Jain, Piyush Jain, Akhil Jain, Siddharth Jain, Sambhav Jain and Vineet Jain.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.