IPO Details
| IPO Date | 22 to 24 Sep, 2026 |
| Listing Date | Tue, Sep 29, 2026 |
| Face Value | ₹ 2 per share |
| Price Band | ₹140 to ₹148 |
| Lot Size | 101 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 7,40,56,889 shares (agg. up to ₹ 1,096 Cr) |
| Fresh Issue | 2,16,21,621 shares (agg. up to ₹ 320 Cr) |
| Offer for Sale | 5,24,35,268 shares of ₹ 2 (agg. up to ₹ 776 Cr) |
| Share Holding Pre Issue | 20,16,25,108 shares |
| Share Holding Post Issue | 22,32,46,729 shares |
IPO Important Dates
| IPO Open | Tue, Sep 22, 2026 |
| IPO Close | Thu, Sep 24, 2026 |
| Allotment | Fri, Sep 25, 2026 |
| Refund | Mon, Sep 28, 2026 |
| Credit of Shares | Mon, Sep 28, 2026 |
| Listing | Tue, Sep 29, 2026 |
IPO Lot Size
| Retail (Min) | 1 | 101 | ₹14,948 |
| Retail (Max) | 13 | 1313 | ₹1,94,324 |
| S-HNI (Min) | 14 | 1414 | ₹2,09,272 |
| S-HNI (Max) | 66 | 6666 | ₹9,86,568 |
| B-HNI (Min) | 67 | 6767 | ₹10,01,516 |
Financial Information
| Assets | 1,509.87 | 1,589.80 | 1,476.16 |
| Total Income | 1,562.53 | 1,492.68 | 1,472.58 |
| Profit After Tax | 55.09 | 30.77 | 44.94 |
| EBITDA | 221.56 | 198.29 | 150.33 |
| NET Worth | | 722.90 | 678.59 |
| Reserves and Surplus | 740.01 | 677.63 | 624.96 |
| Total Borrowing | | 505.16 | 412.89 |
Key Performance Indicator
| ROE | 6.80% |
| ROCE | 9.89% |
| RoNW | 7.79% |
| PAT Margin | 3.53% |
| EBITDA Margin | 14.18% |
| NAV | 39.52 |
| Price to Book Value | 3.74 |
Information about company
Incorporated in 2003, Varmora Granito Limited is engaged in the business of manufacturing and marketing ceramic and vitrified tiles. The company’s product portfolio includes a wide range of tiles across formats such as glazed vitrified tiles (GVT), polished vitrified tiles (PVT), and ceramic tiles.
The company distributes its products through a multi-channel network comprising:
As of March 31, 2025, the company’s distribution network covered 949 cities across 27 states and union territories in India.
The product portfolio included more than 3,500 stock-keeping units (SKUs) as of March 31, 2025.
Manufacturing Facilities
As of March 31, 2025, the company operated nine manufacturing facilities, all located in the Morbi industrial cluster in Gujarat.
Export Operations
As of March 31, 2025, the company exported products to over 100 countries, supported by a dedicated export team comprising 47 personnel.
Employees
The company employed 1,156 permanent employees as of March 31, 2025.
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
#: Issue Objects
1: Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by: The company and wholly-owned subsidiaries namely Covertek Ceramica Private Limited and Varmora Sanitarywares Private Limited (formerly, Varmora Sanitarywares LLP), and of the subsidiary, Simola Tiles LLP, through investment in such Subsidiaries; and
2: General corporate purposes.
Disclaimer
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
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Day Wise GMP
| 17-09-2026 | 148 | 0 (0%) | 148 |
| 16-09-2026 | 0 | 0 (0%) | 0 |
IPO Reservation
| QIB | Not more than 50% of the Offer |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
