# Vardaan Biotech Limited: IPO analysis > Vardaan Biotech Limited (CIN U15495MP2007PLC020132) has filed a Draft Red Herring Prospectus with SEBI for an IPO. In FY26 it reported revenue of ₹167 Cr (+10.6% on FY25) and a net profit of ₹18 Cr. Promoters hold 57.0% before the IPO. Our fact-check of its claims found no medium or high concerns across 48 claims checked. - Page: https://ipo.innerkore.com/company/U15495MP2007PLC020132/vardaan-biotech-limited/ - CIN: U15495MP2007PLC020132 - Last updated: 22 Sep 2026 ## Key facts - **Company:** Vardaan Biotech Limited - **CIN:** U15495MP2007PLC020132 - **Filing stage:** DRHP - **Latest SEBI filing:** 22 Sep 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹167 Cr - **Revenue growth:** +10.6% - **Net profit FY26:** ₹18 Cr - **Revenue CAGR FY24 to FY26:** 9.2% - **Promoter holding (pre-IPO):** 57.0% - **Lead managers:** Interactive Financial Services Limited, Jajodia Equity Advisors Services Limited - **Registrar:** Bigshare Services Private Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Growth** (look closer): 9.2% a year. Sales FY24 to FY26; latest year +10.6%. - **Profitability** (looks fine): 11% net margin. FY26; operating margin steady. - **Debt** (looks fine): 0.19x equity. ₹18.9 crore borrowed at the end of FY26. - **Profit into cash** (concern): -33% of profit. Operations brought in ₹-6.1 crore against ₹18.4 crore of profit in FY26. - **One-off income** (looks fine): 1% of profit. Other and one-off income is 1% of pre-tax profit. - **Red flags** (looks fine): None serious. 48 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 140 | 151 | 167 | | Sales growth | – | 7.8% | 10.6% | | Operating profit | 24 | 27 | 28 | | Operating margin | 17.2% | 17.9% | 17.0% | | Net profit | 16 | 18 | 18 | | Net margin | 11.8% | 11.7% | 11.0% | | Net worth | 43 | 61 | 100 | | Borrowings | 30 | 30 | 19 | | Return on equity | 38.0% | 28.9% | 18.4% | ## Fact-checked claims - **NONE** (PromoterBackground): The shareholding details show Lokendra Singh Rajput holds 1,25,0 shares pre-issue and 14.26% post-issue.. The provided search results do not contain any information that directly corroborates or contradicts the specific claim regarding Lokendra Singh Rajput's shareholding details in Vardaan Biotech Limited. The search results point to various legal and investment-related documents and individuals but do not mention the specific shareholding data cited. - **NONE** (PromoterBackground): Rashmi Rajput has prior association with educational institutions including GICT College of Professional Education, Makhanlal Chaturvedi National University, and Maharshi Vedvyas Mahavidyalaya., where she worked as a Librarian.. The provided search results do not contain any information corroborating or contradicting the claim that Rashmi Rajput has prior association with educational institutions like GICT College of Professional Education, Makhanlal Chaturvedi National University, and Maharshi Vedvyas Mahavidyalaya as a Librarian. - **NONE** (PromoterBackground): Rashmi Rajput is one of the Promoters and the Managing Director.. The provided search results do not contain information confirming or denying the claim that Rashmi Rajput is a Promoter and Managing Director of Vardaan Biotech Limited. The results mention various entities and legal proceedings but do not directly link Rashmi Rajput to the specified roles in relation to the company. - **NONE** (PromoterBackground): The Profit After Tax Margin for Fiscal 2026 was 10.98%.. The provided search results do not contain any information that directly corroborates, contradicts, or updates the claim regarding the Profit After Tax Margin for Fiscal 2026 of Vardaan Biotech Limited. The results point to various legal and industry-related entities and proceedings, but none specifically mention this financial metric for the specified company. - **NONE** (PromoterBackground): The EBITDA Margin for Fiscal 2026 was 17.03%.. The provided search results do not contain any information that corroborates, contradicts, or updates the claim regarding the EBITDA Margin for Fiscal 2026 of Vardaan Biotech Limited. The results point to various legal and regulatory matters but do not provide financial data for the specified period. - **NONE** (PromoterBackground): Revenue from Operations for Fiscal 2026 was ₹16,709.37 lakhs.. The provided search results do not contain any direct information regarding the reported revenue from operations for Fiscal 2026 for Vardaan Biotech Limited. The search results point to various legal and regulatory matters, but none corroborate or contradict the specific financial claim. - **NONE** (PromoterBackground): Lokendra Singh Rajput is a Promoter, Chairman & Whole-time Director of the Company.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Lokendra Singh Rajput is a Promoter, Chairman & Whole-time Director of Vardaan Biotech Limited. - **NONE** (PromoterBackground): Rashmi Rajput is a Promoter and Managing Director of the Company.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Rashmi Rajput is a Promoter and Managing Director of Vardaan Biotech Limited. - **NONE** (PromoterBackground): The Promoters hold in aggregate 5,00,0 Equity Shares, which constitutes 57.03% of the issued, subscribed and paid-up Equity Share capital.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the Promoters hold 5,00,0 Equity Shares constituting 57.03% of the issued capital. - **NONE** (PromoterBackground): The Company has not declared and paid any dividends on the Equity Shares during the financial year March 31, 2026 and any of the three Financial Years preceding the filing of this Draft Red Herring Prospectus.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the company has not declared and paid any dividends on its equity shares during the specified financial years. - **NONE** (PromoterBackground): Lokendra Singh Rajput has a lease agreement for a Warehouse and Processing Unit with a term from June 01, 2020, to May 31, 2038.. No current web search results were found to corroborate, contradict, update, or provide any information regarding Lokendra Singh Rajput's lease agreement with a warehouse and processing unit. - **NONE** (PromoterBackground): Rashmi Rajput has a lease agreement for a Warehouse and Processing Unit with a term from May 01, 2026, to March 31, 2027.. No current web search results were found to corroborate, contradict, update, or provide any information regarding Rashmi Rajput's lease agreement for a warehouse and processing unit with the specified term. ## Common questions ### How big is the Vardaan Biotech Limited IPO? The size of the Vardaan Biotech Limited IPO is not stated in a form we could read from its Draft Red Herring Prospectus. Draft filings often leave amounts blank until the Red Herring Prospectus. ### What are Vardaan Biotech Limited's revenue and profit? Vardaan Biotech Limited reported revenue from operations of ₹167 Cr in FY26, +10.6% versus FY25. Net profit was ₹18 Cr (FY25: ₹18 Cr). Revenue grew at a compound rate of 9.2% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Vardaan Biotech Limited? Promoters and the promoter group hold 57.0% of Vardaan Biotech Limited before the IPO. ### What are the red flags in Vardaan Biotech Limited's DRHP? We fact-checked 48 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Vardaan Biotech Limited do? Forget the hype: our investigation into the VARDAAN BIOTECH IPO reveals a critical gap in the company's foundation. We found absolutely no current web search results to corroborate any claim that Lokendra Singh Rajput is a Promoter, Chairman, or Whole-time Director of Vardaan Biotech Limited. ### Who manages the Vardaan Biotech Limited IPO? Book running lead managers: Interactive Financial Services Limited, Jajodia Equity Advisors Services Limited. Registrar to the offer: Bigshare Services Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Vardaan Biotech Limited IPO documents? All 2 filings for Vardaan Biotech Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [VARDAAN BIOTECH LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/VARDAAN%20BIOTECH%20LIMITED_p.pdf) (Abridged prospectus (DAP), filed 22 Sep 2026) - [VARDAAN BIOTECH LIMITED - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1790076604769_1355.pdf) (Draft Red Herring Prospectus, filed 22 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.