Vegorama Punjabi Angithi IPO is an upcoming SME IPO that has started gaining attention among investors due to the company’s strong presence in the restaurant and cloud kitchen business. The company operates under the well-known “Punjabi Angithi” food brand and plans to expand its restaurant and kitchen network using IPO funds.
The IPO will open on May 20, 2026, and the company aims to raise approximately ₹38.38 crores through a book build issue. In this detailed IPO Updates review, we will cover Vegorama Punjabi Angithi IPO date, price band, GMP, allotment details, financials, strengths, risks, subscription details, and whether investors should apply or avoid this IPO.
About Vegorama Punjabi Angithi Limited
Vegorama Punjabi Angithi Limited operates in the food and restaurant industry and is known for its Punjabi cuisine, cloud kitchens, and dine-in restaurant services.
The company focuses on:
- Fine Dining Restaurants
- Cloud Kitchens
- Centralized Kitchen Operations
- Food Delivery Services
- North Indian & Punjabi Cuisine
The company plans to expand its operations through:
- New banquet and fine dine restaurants
- Centralized kitchen facilities
- New cloud kitchen rollouts
- Upgradation of existing kitchen infrastructure
Vegorama Punjabi Angithi mainly operates from New Delhi and has built a growing customer base through food delivery platforms and dine-in services.
The company’s expansion strategy may help improve operational efficiency and increase market presence in India’s fast-growing food service industry.
| IPO Open Wed, May 20, 2026 | IPO Close Fri, May 22, 2026 | Price Band ₹73 to ₹77 | Market Cap (Pre-IPO) ₹127.90 Cr |
Vegorama Punjabi Angithi IPO Market Lot
The minimum market lot for the IPO is 3,200 shares.
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 3,200 Shares | ₹2,46,400 |
| Retail Maximum | 2 Lots | 3,200 Shares | ₹2,46,400 |
| S-HNI Minimum | 3 Lots | 4,800 Shares | ₹3,69,600 |
| S-HNI Maximum | 8 Lots | 12,800 Shares | ₹9,85,600 |
| B-HNI Minimum | 9 Lots | 14,400 Shares | ₹11,08,800 |
IPO Reservation Details
| Investor Category | Reservation |
|---|---|
| QIB | 50% |
| Retail Investors | 35% |
| HNI/NII | 15% |
Vegorama Punjabi Angithi IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | May 20, 2026 |
| IPO Close Date | May 22, 2026 |
| Basis of Allotment | May 25, 2026 |
| Refund Initiation | May 26, 2026 |
| Credit to Demat Account | May 26, 2026 |
| Listing Date | May 27, 2026 |
| IPO Cut-Off Time | May 22, 2026 – 5 PM |
Promoters of the Company
The promoter of the company is:
- Mr. Deepak Chadha
| Particulars | Shares | Holding |
|---|---|---|
| Pre-Issue Holding | 1,26,23,794 Shares | 99.4% |
| Post-Issue Holding | 1,66,10,994 Shares | Updated After Listing |
Objects of the Issue
The company plans to utilize IPO proceeds for expansion and infrastructure development.
| Purpose | Amount |
|---|---|
| Construction of Banquet & Fine Dine Restaurant | ₹11.90 Cr |
| Construction of Centralized Kitchen | ₹4.20 Cr |
| Rollout of New Cloud Kitchens | ₹4.67 Cr |
| Upgradation of Existing Cloud Kitchens | ₹1.65 Cr |
The IPO funds may help the company expand its food business and improve customer service efficiency.
Vegorama Punjabi Angithi Financial Report
The company has shown strong growth in revenue and profitability over the past few years.
| Year | Revenue | Expenses | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹1.69 Cr | ₹15.78 Cr | ₹0.84 Cr | ₹5.59 Cr |
| 2024 | ₹6.64 Cr | ₹60.15 Cr | ₹4.64 Cr | ₹18.35 Cr |
| 2025 | ₹10.21 Cr | ₹91.09 Cr | ₹8.22 Cr | ₹24.77 Cr |
The company reported:
- Revenue growth from ₹6.64 Cr in 2024 to ₹10.21 Cr in 2025
- Profit growth from ₹4.64 Cr to ₹8.22 Cr
The increasing financial performance is one of the positive indicators for long-term investors.
Vegorama Punjabi Angithi IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 0.57% |
| ROCE | 13.28% |
| EBITDA Margin | 9% |
| PAT Margin | 5.31% |
| Debt to Equity Ratio | 0.43 |
| EPS | ₹12.43 |
| RoNW | 57.34% |
| NAV | ₹11.36 |
Peer Group Comparison
| Company | EPS | RoNW | NAV | Income |
|---|---|---|---|---|
| Speciality Restaurants Ltd | 4.45 | 6.52% | 68.13 | ₹0.41 Cr |
| Vikram Kamats Hospitality Ltd | 0.48 | 0.01% | 28.34 | ₹22.70 Cr |
Strengths of Vegorama Punjabi Angithi IPO
1. Growing Food Service Industry
India’s restaurant and cloud kitchen market is expanding rapidly.
2. Strong Brand Recognition
Punjabi Angithi has established a customer base in the food delivery and restaurant segment.
3. Expansion Strategy
The company plans to expand through centralized kitchens and new cloud kitchen facilities.
4. Strong Revenue Growth
The company has shown significant growth in sales and profitability.
5. Asset-Light Cloud Kitchen Model
Cloud kitchen expansion may help improve scalability and operational efficiency.
Risks of the IPO
1. SME IPO Risk
SME IPOs generally have higher volatility and lower liquidity.
2. Competitive Food Industry
The restaurant business faces strong competition from organized food chains and local brands.
3. Operational Cost Risk
Food inflation and rising operational expenses may affect margins.
4. Dependence on Consumer Demand
The business depends heavily on changing consumer preferences and delivery demand.
Vegorama Punjabi Angithi IPO GMP
The Grey Market Premium (GMP) of this SME issue may fluctuate daily depending on market sentiment and subscription demand. Investors should remember that GMP is unofficial and should not be the only factor considered before investing.
Should You Apply for Vegorama Punjabi Angithi IPO?
Based on the company’s financial growth and expansion plans, the IPO looks interesting for long-term investors with higher risk tolerance.
Positive Factors
- Growing restaurant and cloud kitchen business
- Strong profit growth
- Expansion strategy
- Food industry growth potential
Negative Factors
- SME IPO volatility
- Competitive industry
- Dependence on food delivery market
Investors looking for exposure to the food and hospitality sector may consider this IPO after evaluating risk factors carefully.
IPO Lead Manager
Corporate Makers Capital Ltd.
Company Address
Vegorama Punjabi Angithi Ltd.
B-376, Third Floor, Meera Bagh,
Outer Ring Road, Paschim Vihar,
New Delhi – 110063
Phone: +91-11-46112637
Email: compliance@punjabiangithi.in
Website: https://www.punjabiangithi.in/
IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: +91-22-62638200
Email: ipo@bigshare.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Vegorama Punjabi Angithi IPO FAQs
What is Vegorama Punjabi Angithi IPO?
It is an SME IPO through which the company plans to raise ₹38.38 crores.
What is the Vegorama Punjabi Angithi IPO Price Band?
The price band is ₹73 to ₹77 per share.
What is the IPO Lot Size?
The minimum bid is 3,200 shares with an investment amount of ₹2,46,400.
What is the Allotment Date?
The allotment date is May 25, 2026.
What is the Listing Date?
The IPO will list on the BSE SME on May 27, 2026.
Disclaimer
The information shared here is intended solely for educational and general awareness purposes. Any securities, investments, or IPO-related details mentioned should not be interpreted as financial advice or investment recommendations. Readers are encouraged to conduct their own independent research or seek guidance from a qualified financial professional before making investment decisions.
IPO-related updates are provided for informational use only. Market trends, past performance, or investor interest do not ensure future outcomes. We are not registered with SEBI. Investments in IPOs and the securities market involve inherent risks, and individuals should carefully evaluate their financial situation or consult a certified financial advisor before investing.
