Vegorama Punjabi Angithi Summary
The quick service restaurant (QSR) and cloud kitchen industry in India is experiencing a period of phenomenal growth owing to factors such as fast-paced urbanization, increasing disposable incomes, growing demand for low-cost North Indian cuisine, growth in the number of food aggregators, and a preference for cost-effective dining options in urban and semi-urban areas. These trends have been instrumental in bolstering the expansion aspirations of Vegorama Punjabi Angithi.
Vegorama Punjabi Angithi Limited was registered in March 2022 as a private limited company and belongs to the food & beverages industry. The company operates as an integrated restaurant chain with the "Punjabi Angithi" brand name, offering vegetarian North Indian/Punjabi cuisines at reasonable prices. Vegorama Punjabi Angithi provides its services through dine-in facilities, including two upscale dining restaurants of up to 2,397 sq ft, 19 cloud kitchens spread across 400-870 sq ft in Delhi NCR, takeaway services, collaboration with food delivery portals such as Swiggy, and catering to events.
Vegorama Punjabi Angithi Limited intends to launch a BSE SME IPO of equity shares with a face value of ₹10 per share, amounting to a total issue size of ₹38.38 Cr at a price range of ₹73–₹77 per share; this includes a fresh issue of ₹28.77 Cr, an offer for sale of ₹7.68 Cr, and reservation of ₹1.93 Cr for the market maker. The IPO opens on 20th May 2026 and closes on 22nd May 2026, with tentative allotment on 25th May 2026 and listing on BSE SME on 27th May 2026.
Vegorama Punjabi Angithi IPO Details:
Vegorama Punjabi Angithi Limited Issue Management:
Corporate Makers Capital Ltd. acts as the book-running lead manager for Vegorama Punjabi Angithi BSE SME IPO, managing underwriting and compliance.
Vegorama Punjabi Angithi Limited IPO RTA (Registrar) Details:
Bigshare Services Pvt.Ltd. handles allotment, refunds, and demat credits - contact at 91-22-6263 8200 or ipo@bigshareonline.com.
Vegorama Punjabi Angithi Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Bigshare Services Pvt.Ltd. IPO Application Status page.
Select the company name from the dropdown menu.
Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
Click Submit to view your allotment status.
Vegorama Punjabi Angithi Limited SME IPO totals ₹38.38 Cr, comprising a fresh issue of ₹28.77 Cr and an Offer For Sale of ₹7.68 Cr, with a market-maker reservation of ₹1.93 Cr. The face value is ₹10 per share and the price band is ₹73–₹77 per share.
Vegorama Punjabi Angithi Limited IPO proceeds from the fresh issue of ₹38.38 Cr will be deployed towards:
Vegorama Punjabi Angithi Limited BSE SME IPO offers 49,86,364 shares (total issue ₹38.38 Cr, net ₹36.45 Cr post Market Maker).
The anchor bidding for Vegorama Punjabi Angithi Limited SME IPO is scheduled for 19th May 2026, one working day before the issue opens on 20th May 2026, and anchor investors will be allotted shares from the QIB portion. As per the IPO reservation details, the QIB portion is not more than 50% of the net issue size of 26,75,000 shares.
Lock-in: The anchor allocation follows standard SME IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on 27th May 2026 on BSE SME.
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. Interactive Financial Services Ltd. is the book running lead manager to the issue, and the registrar for the IPO is Bigshare Services Pvt. Ltd.
According to the data mentioned in the DRHP, the profitability trend of Vegorama Punjabi Angithi Limited has been profitable since a while due to their unique business strategy that involves running a chain of QSR branded ‘Punjabi Angithi’ restaurant which sells affordable vegetarian food from the North Indian/Punjabi region. They have established 19 cloud kitchen (400-870 sq ft) and 2 fine dining restaurants (~2,397 sq ft) in Delhi-NCR and provide services such as dine-in, takeaway, delivery (Swiggy/Zomato), cloud kitchen operations, and catering services with future plans to add banquets/centralized kitchens.
Total income for periods ended 31 Mar 2025, 31 Mar 2024, and 31 Mar 2023 were ₹10.21 Cr, ₹6.64 Cr, and ₹1.69 Cr, respectively, and Profit After Tax (PAT) were ₹8.22 Cr, ₹4.64 Cr, and ₹0.84 Cr. PAT Margins 8.11% (2025), with EBITDA Margins 11.47%.
The findings are due to the company’s prime location, its reputable brand, competitive pricing by way of its menu innovation, professional team members, and sustained income increase. The company will utilize the funds raised through the IPO for the development of banquets/fine dining facilities (Rs 11.90 Cr), central kitchen (Rs 4.20 Cr), development of additional cloud kitchens (Rs 4.67 Cr), upgrading current facilities (Rs 1.65 Cr), and general corporate activities.
Action Links:
To apply for Vegorama Punjabi Angithi Limited IPO, open a demat account here
Vegorama Punjabi Angithi Limited IPO Subscription Status: Check live subscription here
Vegorama Punjabi Angithi Limited IPO GMP Update: Check latest grey market premium here
Vegorama Punjabi Angithi Key Highlights:
The Vegorama Punjabi Angithi Limited owns the Punjabi Angithi brand name of vegetarian quick service restaurant chain serving North Indian/Punjabi cuisines.
The company currently has 19 cloud kitchens of size between 400 to 870 sq ft and two fine dining restaurants having a total size of 2,397 sq ft. It offers dine-in services, takeaways, online deliveries via Swiggy/Zomato, cloud kitchen operations, and catering services.
Recent financials show robust growth: Total Income ₹10.21 Cr (Mar 2025), ₹6.64 Cr (2024), ₹1.69 Cr (2023); PAT ₹8.22 Cr, ₹4.64 Cr, ₹0.84 Cr. KPIs: ROE 57.34%, ROCE 62.23%, PAT Margin 8.11%, EBITDA Margin 11.47%. Growth from prime locations, brand recognition, pricing innovation, and team expertise. Majority revenue from repeat customers/delivery; rising QSR demand supports future performance.
Vegorama Punjabi Angithi Risk Factors:
The risks of Vegorama Punjabi Angithi Limited IPO are mentioned below:
Competitive QSR/Food industry with price competition arising due to chain players/aggregators.
Dependence on revenues generated by Delhi-NCR and online delivery platforms.
Working capital intensive owing to perishable food items.
Fluctuations in raw material prices (spices and vegetables).
Lower liquidity following listing as BSE SME company.
Young business having just commenced operations in 2022.
Vegorama Punjabi Angithi Expert Analysis:
Vegorama Punjabi Angithi Limited is launching a book-built SME IPO on BSE SME: ₹38.38 Cr total (fresh ₹28.77 Cr + OFS ₹7.68 Cr; 49,86,364 shares @ ₹73-77). Reservation: QIB (≤50%), NII (≥15%), Retail (≥35%), MM (₹1.93 Cr).
Basic details of the IPO:
Type of IPO: Book-built SME IPO (BSE SME)
Uses of funds: Banquet/fine-dine (₹11.90 Cr), centralized kitchen (₹4.20 Cr), new cloud kitchens (₹4.67 Cr), upgrades (₹1.65 Cr), general/issue expenses.
Anchor bidding: Anchor bidding 19 May 2026 | Opens 20 May 2026 | Closes 22 May 2026 | Allotment 25 May | Listing 27 May 2026 (BSE SME).
Lead Manager: Corporate Makers Capital Ltd. | Registrar: Bigshare Services Pvt. Ltd.
Expert View on the IPO:
Impressive PAT growth (ROE 57.34%, low Debt/Equity 0.35x) in the booming QSR segment. Peers like Speciality Restaurants (RoNW 6.52%) lag; fair valuation for expansion play. Watch SME liquidity, competition, aggregator risks.
Should you invest in Vegorama Punjabi Angithi?
Investors eyeing suitable QSR/food growth bets with high ROE/low debt.
Consider investing when:
Seeking exposure to vegetarian QSR/cloud kitchens amid urban demand.
OK with SME risks and nil GMP (bearish sentiment).
Bullish on Delhi NCR expansion/delivery boom.
Do not invest when:
Prefer established/large-cap hospitality.
Concerned about SME volatility/liquidity.
Wary of food costs/working capital intensity.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Vegorama Punjabi Angithi Limited IPO, open a demat account here
Vegorama Punjabi Angithi Limited IPO Subscription Status: Check live subscription here
Vegorama Punjabi Angithi Limited IPO GMP Update: Check latest grey market premium here
1. What is the Vegorama Punjabi Angithi Limited IPO open and close date?
Vegorama Punjabi Angithi Limited IPO opens on 20th May 2026 and closes on 22nd May 2026. The anchor bidding is scheduled for 19th May 2026, one working day before the issue opens.
Track Vegorama Punjabi Angithi Limited IPO subscription status live here from Finnpick.
2. What is the Vegorama Punjabi Angithi Limited IPO price band and lot size?
The price band is ₹73–₹77 per share with a face value of ₹10 per share. Minimum lot size is 1,600 shares (2 lots for retail = 3,200 shares, ₹2,46,400 at upper band).
3. What is Vegorama Punjabi Angithi Limited IPO total size?
The total issue size is ₹38.38 Cr (fresh issue ₹28.77 Cr + OFS ₹7.68 Cr; 49,86,364 equity shares at ₹77 upper band).
4. How to apply for the Vegorama Punjabi Angithi Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by May 22, 4 PM. Monitor Vegorama Punjabi Angithi Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Vegorama Punjabi Angithi Limited IPO Allotment Status?
The allotment date is on May 25th and can be checked on Bigshare Services RTA portal using PAN/DP ID.
6. What is Vegorama Punjabi Angithi Limited's IPO GMP today and subscription status?
The current Grey Market Premium (GMP) stands at ₹0 as of May 14, indicating listing at the price range of ₹77 – check daily updates of Vegorama Punjabi Angithi Limited IPO GMP trends here and live subscription status here from May 20th opening only on Finnpick.
7. What does Vegorama Punjabi Angithi Limited specialize in?
Vegorama Punjabi Angithi specialises in Punjabi Angithi vegetarian QSR chain (North Indian/Punjabi dishes) with 19 cloud kitchens and 2 fine-dining restaurants in Delhi NCR; dine-in, takeaway, delivery, catering.
8. When is the Vegorama Punjabi Angithi Limited IPO listing date?
The Vegorama Punjabi Angithi Limited IPO is scheduled to list on BSE SME on May 27, 2026, which is approximately T+1 after the basis of allotment on May 25, 2026.
9. What are the Vegorama Punjabi Angithi Limited IPO proceeds utilization details?
The IPO proceeds will primarily be utilized towards Banquet/fine-dine (₹11.90 Cr), centralized kitchen (₹4.20 Cr), new cloud kitchens (₹4.67 Cr), upgrades (₹1.65 Cr), general/issue expenses (balances).
10. Who are the promoters of Vegorama Punjabi Angithi Limited?
The promoters are Mr. Deepak Chadha (holding 99.4% pre-IPO).
11. Should I apply for the Vegorama Punjabi Angithi IPO?
Suitable for QSR growth plays (ROE 57.34%, ROCE 62.23%, low debt). Strong expansion potential but nil GMP/caution on SME risks/competition. Investors are advised to exercise discretion and refer to the full DRHP/RHP before deciding. This is for informative purposes, not investment advice.
