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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2025)
Investment Thesis
Noida-based investment holding company (est. 1996) classified under wholesale trade (NIC 51909) but functioning entirely as an investment vehicle. Revenue ₹4.04 Cr FY2025 with PAT ₹3.92 Cr (~97% net margin) — income is purely from dividends and investment gains with minimal costs. Paid-up capital only ₹36.47 lakh. Unlisted; promoter identity not publicly disclosed. EPS ₹107.46 on a very small equity base. Classic micro-holding company — value lies solely in its underlying investment portfolio.
Pros
Cons
Business Segments
Investment and holding company (NIC 51909 — wholesale; in practice functions as investment vehicle)
Sector 16A, Noida, Uttar Pradesh
Revenue Model
VAM Holdings generates income from its trading operations (buying and selling goods as exporter/importer/distributor) and from investment income, dividends, and capital appreciation on its portfolio of holdings.
Detailed Analysis
Growth Plans
Potential listing on stock exchanges providing liquidity and price discovery
Value unlocking from underlying investment portfolio
Industry Tailwinds
Potential listing on stock exchanges providing liquidity and price discovery
Value unlocking from underlying investment portfolio
Recent Developments
Comparable Companies
Diversified trading conglomerate with commodity and product trading
Frequently Asked Questions
About VAM Holdings
VAM Holdings Limited is an unlisted public company incorporated on 16 October 1996 under CIN U51909UP1996PLC057371. The company is registered at Plot No. 1A, Sector-16A, Noida, Uttar Pradesh — 201301. The company has an ISIN of INE851F01017, which enables it to hold and transfer shares in dematerialized form. VAM Holdings operates as a diversified trading and wholesale company. As per its MCA filings, the company's main objects include carrying on business as exporters, importers, buyers, sellers, distributors, and dealers in a wide variety of goods including produce, commodities, minerals, metals, plant and machinery equipment, agricultural products, forest products, petroleum products, consumer products, cement, fertilizers, automobiles, and automobile spare parts. The NIC classification places the company in 'Other wholesale, including specialized wholesale not covered in other categories and wholesale in a variety of goods without any particular specialization.' This reflects the conglomerate trading nature of the company's operations. The company has an authorized share capital of ₹1.00 Crore and paid-up capital of ₹36.47 lakh. Its relatively small paid-up capital suggests it operates at modest scale. The current directors are Takesh Mathur, Sandeep Sharma, and Sreenivasan Natarajan. For FY2023, VAM Holdings' operating revenue was in the INR 1 Crore to 100 Crore range. The current ratio fell sharply from 679.79 in FY2023 to 17.11 in FY2024, indicating a significant reduction in liquid assets relative to liabilities. Despite this, a current ratio of 17.11 still indicates adequate near-term liquidity. Return on Equity improved marginally from 4.4% (FY2023) to 4.6% (FY2024). VAM Holdings is a trading-oriented holding company that provides diversified wholesale trade and distribution services. While the business model is simple, the lack of specific operating focus means the company lacks a distinct competitive moat. Investment thesis for such companies typically relies on asset backing and dividend yield rather than growth prospects.
Key Milestones
Common questions about unlisted shares
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You enquire
· Takes 2 minutesTell us the company and quantity you want. Share your demat details so we can settle directly into your account.
We source & quote
· Typically within 1 business dayOur desk sources the shares and comes back with a firm price and an allocation for the quantity available.
You accept the allocation
· Quote valid for 3 daysReview the price, quantity and total. Accept to lock the allocation. The quote is valid for a short window before it needs re-pricing.
You transfer the funds
· Pay within 2 days of acceptingPay by direct bank transfer to the desk's published account — never to a personal account. We confirm receipt and begin the transfer.
Shares reach your demat
· Usually credited within 2–3 business daysOnce payment is verified, the shares are transferred from the desk's demat into yours, and you receive a transfer confirmation.
A principal desk for unlisted & pre-IPO shares — you transact with us, not a stranger.
You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
Industry Headwinds
Continued lack of financial transparency
Adverse business conditions affecting trading margins
Very low ROE of 4.6% — limited return on shareholder equity
Source: Media Reports / Public Records
Small paid-up capital of ₹36.47 lakh limits scale
Source: Company Financial Filings
No credit rating from any agency
Source: AlphaHub Research
Diversified trading without specialization lacks competitive moat
Source: Media Reports / Public Records
No official website and minimal public financial disclosures make independent assessment of the company's financial health difficult
Shares are unlisted with no organized exchange; trading at ₹1,750 is in the OTC/grey market with limited price discovery
Investment holding companies typically trade at a discount to NAV; actual underlying asset quality is unknown
Government-owned diversified trading company
16 October 1996 — Incorporated in Uttar Pradesh; classified as wholesale (NIC 51909)
Functions in practice as an investment/holding vehicle generating dividend/investment income
FY2025 (28th Annual Report) — Revenue ₹4.04 Cr; PAT ₹3.92 Cr; AGM September 26, 2025
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