📋 Vegorama Punjabi Angithi Ltd IPO 2026 — Date, Price Band, GMP & Allotment
Vegorama Punjabi Angithi Ltd IPO is a BSE SME book-built issue opening on 20 May 2026 and closing on 22 May 2026. The company is raising ₹36.44 Crore through a combination of fresh issue and offer for sale at a price band of ₹73–₹77 per share. The Vegorama Punjabi Angithi IPO allotment is scheduled for 23 May 2026 and shares are expected to list on BSE SME on 27 May 2026. Check all 2026 IPOs on IPOView.
🏢 About Vegorama Punjabi Angithi Ltd — Company Overview
Incorporated in March 2022 and headquartered in Paschim Vihar, New Delhi, Vegorama Punjabi Angithi Ltd is a fast-growing restaurant chain specialising in authentic North Indian vegetarian cuisine under the popular Punjabi Angithi brand. The company traces its operational roots back to 2014 when promoter Deepak Chadha began the business through a HUF firm — giving it over a decade of brand building history despite the legal entity being incorporated in 2022.
Vegorama Punjabi Angithi operates 19 cloud kitchens ranging from 400 to 870 square feet and 2 fine dining restaurants across Delhi NCR — with its fine dining outlet spanning approximately 2,397 square feet. The company blends traditional Punjabi recipes with contemporary quick-service restaurant presentation, catering to both dine-in customers and the rapidly growing online food delivery market through platforms like Swiggy and Zomato. Approximately 92% of revenue in FY25 came from online food platforms — reflecting the company's strong digital-first delivery orientation.
The workforce is predominantly kitchen and operations-driven — employing 244 personnel including 92 Chefs de Partie, 39 Sous Chefs, 12 Senior Kitchen Executives, and 37 Restaurant Managers. IPO proceeds are earmarked for capital expenditure on new banquet and fine dining restaurants, centralized kitchen construction, cloud kitchen rollout, and equipment upgrades.
📊 Vegorama Punjabi Angithi IPO Details at a Glance
🔹 Exchange: BSE SME
🔹 Issue Type: Book Built SME IPO (Fresh Issue + OFS)
🔹 Price Band: ₹73 – ₹77 per share
🔹 Face Value: ₹10 per share
🔹 Fresh Issue: 39.87 lakh shares (₹30.70 Crore)
🔹 OFS: 9.96 lakh shares (₹7.68 Crore)
🔹 Total Issue Size: ₹34.55 – ₹36.44 Crore
🔹 Lead Manager: Corporate Makers Capital Ltd.
🔹 Registrar: Bigshare Services Pvt. Ltd.
🔹 Promoter: Mr. Deepak Chadha
🔹 Outlets: 19 cloud kitchens + 2 fine dining restaurants, Delhi NCR
🔹 GMP Today: Check live on IPOView
📅 Vegorama Punjabi Angithi IPO Timeline — Important Dates
🗓️ IPO Open Date: 20 May 2026 (Wednesday)
🗓️ IPO Close Date: 22 May 2026 (Friday)
🗓️ Allotment Date: 23 May 2026 (Saturday)
🗓️ Demat Credit / Refund: 26 May 2026 (Tuesday)
🗓️ Listing Date: 27 May 2026 (Wednesday) — BSE SME
📈 Vegorama Punjabi Angithi IPO GMP Today
Check the latest Vegorama Punjabi Angithi IPO GMP today live on IPOView for real-time grey market sentiment updates ahead of the 27 May 2026 listing date. Track all 2026 IPO GMP on IPOView. GMP is an unofficial indicator and should not be the sole basis of investment decisions.
✅ Vegorama Punjabi Angithi IPO — Strengths
✔️ Decade-Long Brand Heritage Since 2014: Punjabi Angithi has been building brand recognition in Delhi NCR since 2014 — giving the company over 10 years of operational learning, customer loyalty, and brand equity in the competitive North Indian food delivery market.
✔️ Fast-Growing QSR and Cloud Kitchen Market: India's quick-service restaurant and cloud kitchen segments are among the fastest-growing in the food services sector — driven by urbanization, rising disposable incomes, increasing smartphone penetration, and the habit-forming convenience of app-based food ordering. Vegorama Punjabi Angithi is directly positioned to benefit from this structural demand growth.
✔️ Scalable Cloud Kitchen Model: The cloud kitchen format of Vegorama Punjabi Angithi requires significantly lower capital investment per outlet compared to full-service restaurants — enabling faster geographic expansion with lower per-unit risk and quicker payback periods.
✔️ Authentic North Indian Vegetarian Positioning: The company's focus on authentic, high-quality North Indian vegetarian cuisine under the Punjabi Angithi brand targets the large and underserved premium vegetarian QSR segment — a category with strong demand but limited organized competition compared to non-vegetarian quick-service formats.
✔️ Expansion into Banquets and Fine Dining: IPO proceeds will fund Vegorama Punjabi Angithi's expansion into banquet halls and fine dining formats — significantly increasing average ticket sizes and revenue per customer, which will improve overall unit economics beyond cloud kitchen margins.
⚠️ Vegorama Punjabi Angithi IPO — Risks
❌ 92% Revenue from Online Platforms — Heavy Aggregator Dependency: With approximately 92% of FY25 revenue coming from online food delivery platforms like Swiggy and Zomato, Vegorama Punjabi Angithi is extremely vulnerable to platform commission rate changes, algorithm modifications, and visibility decisions by these aggregators — risks largely outside the company's control.
❌ Geographic Concentration in Delhi NCR: All 21 outlets of Vegorama Punjabi Angithi are located in Delhi NCR — making revenue entirely dependent on a single metropolitan market. Any economic slowdown, regulatory change, or intense competitive entry into this geography would directly impact all outlets simultaneously.
❌ OFS Component Means Promoter Exit: The ₹7.68 Crore OFS component means promoter Deepak Chadha is selling a portion of existing shares — raising questions about the urgency of partial exit at this stage of the company's growth journey.
❌ Highly Competitive Restaurant Market: Delhi NCR's food delivery market is intensely competitive — with thousands of restaurants, cloud kitchen operators, and QSR chains competing for the same customer orders on Swiggy and Zomato. Customer acquisition and retention costs are high and loyalty is low in this market.
❌ BSE SME Liquidity Risk: BSE SME listed stocks typically have significantly lower trading volumes compared to mainboard stocks — making it difficult to exit positions at desired prices post-listing.
🎯 Should You Apply for Vegorama Punjabi Angithi IPO?
Vegorama Punjabi Angithi IPO is suited for investors who believe in India's QSR and cloud kitchen growth story and are comfortable with the specific risks of restaurant sector SME investing. The decade-long brand, scalable cloud kitchen model, and expansion into banquets and fine dining are genuine positives. However, the extreme aggregator dependency at 92% online revenue, geographic concentration, and BSE SME liquidity constraints require careful evaluation. Best suited for investors with a minimum 18 to 24 month holding horizon. Check all upcoming IPOs in 2026 on IPOView before deciding.
🔍 Conclusion
Track Vegorama Punjabi Angithi IPO GMP, subscription status, allotment date and listing price on IPOView. Also check all upcoming 2026 IPOs on IPOView.