Vahh Chemicals IPO
Chemicals • ₹13.45 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Regulatory or legal risks cited in DRHP
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹60
Lot Size
2000 shares
Issue Size
₹13.45 Cr
Open
04 Jun 2026
Close
08 Jun 2026
Subscription
—
IPO Schedule
| Issue Open Date | 04 Jun 2026 |
| Issue Close Date | 08 Jun 2026 |
| Listing Date | 10 Jun 2026 |
About Vahh Chemicals
Vahh Chemicals Limited is an ISO 9001:2015 certified company engaged in the business of manufacturing, trading, supplying, and blending textile auxiliary chemicals primarily used in the textile processing industry. The company primarily serves dyeing and printing houses by offering chemical solutions for various stages of textile processing, such as pre-treatment, dyeing, printing, and finishing. As of September 30, 2025, the company had a portfolio of 92 SKUs in its chemical division, catering to textile substrates including cotton, polyester, silk, and synthetic blends. The company also develops customised formulations that provide functional properties such as water repellence, flame resistance, anti-microbial finishes, UV absorbers, and wrinkle-free resins. Its operations are primarily conducted on a business-to-business (B2B) basis through its manufacturing facility located in Surat, Gujarat. The company operates through three business segments: trading in textile chemicals; blending of customised chemical formulations; and nutraceutical products through its subsidiary, HSHS Nutraceuticals Limited, under the “Divine Nutrition” brand. The company transitioned into a corporate structure in 2019 and expanded its operations through the acquisition of proprietary businesses in 2024. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding incremental working capital requirements of the company — Rs 5.84 crore Setting up a new manufacturing facility at Surat, Gujarat — Rs 1.84 crore Repayment of loan availed by the company — Rs 1.79 crore General corporate purposes
Company Details
Founders / Promoters
Mr Hiren Indravadan Desai
Founded
2019
Registrar
KFin Techologies Ltd
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Vahh Chemicals — IPOFins Verdict
QuantitativeDriven by elevated disclosed risk (9/10), Vahh Chemicals listed at a premium of 16.7% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- The company claims to have served over 65 regional and local customers as of September 30, 2025. It states that its largest customer contributed 17.27%, 16.59%, 23.80%, and 21.27% of revenue in the pe
- The company states that its business model focuses on manufacturing, sourcing, and blending customized textile auxiliary chemicals for dyeing and printing houses. It claims to offer a portfolio of 92
- The company claims that its promoters collectively possess over a decade of experience in the textile chemicals industry. The company further declares that its board and senior management team bring e
- The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 7.46 crore in FY23 to Rs 10.15 crore in FY24 and Rs
Score breakdown — what drove this verdict
High risk from DRHP → score -1.6
Actual listing outcome → score +0.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹60
Listing Price
₹70
Listing Gain/Loss
+16.67%
Listing Date
10 Jun 2026
Price Since Listing
Returns are measured against the ₹60 issue price.
Listing
₹70
+16.7%
1 Week
₹72.97
+21.6%
1 Month
₹58.33
-2.8%
Current
₹48.34
-19.4%
Want to buy this stock?
Trade Vahh Chemicals on the secondary market
FAQ
What is the price band of Vahh Chemicals IPO?
The price band is ₹60 per share with a lot size of 2000 shares. Minimum investment: ₹1,20,000.
What does Vahh Chemicals do?
Vahh Chemicals Limited is an ISO 9001:2015 certified company engaged in the business of manufacturing, trading, supplying, and blending textile auxiliary chemicals primarily used in the textile processing industry. The company primarily serves dyeing and printing houses by offering chemical solutions for various stages of textile processing, such as pre-treatment, dyeing, printing, and finishing. As of September 30, 2025, the company had a portfolio of 92 SKUs in its chemical division, catering to textile substrates including cotton, polyester, silk, and synthetic blends. The company also develops customised formulations that provide functional properties such as water repellence, flame resistance, anti-microbial finishes, UV absorbers, and wrinkle-free resins. Its operations are primarily conducted on a business-to-business (B2B) basis through its manufacturing facility located in Surat, Gujarat. The company operates through three business segments: trading in textile chemicals; blending of customised chemical formulations; and nutraceutical products through its subsidiary, HSHS Nutraceuticals Limited, under the “Divine Nutrition” brand. The company transitioned into a corporate structure in 2019 and expanded its operations through the acquisition of proprietary businesses in 2024. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding incremental working capital requirements of the company — Rs 5.84 crore Setting up a new manufacturing facility at Surat, Gujarat — Rs 1.84 crore Repayment of loan availed by the company — Rs 1.79 crore General corporate purposes
Should I apply for Vahh Chemicals IPO?
Vahh Chemicals listed at ₹70 (+16.7% premium to the ₹60 issue price). IPOFins Score 3/10: Driven by elevated disclosed risk (9/10), Vahh Chemicals listed at a premium of 16.7% to its issue price. SME listings are also thinner and more volatile after listing. The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Vahh Chemicals?
Vahh Chemicals was founded by Mr Hiren Indravadan Desai in 2019.