Varmora Granito Limited
ListedCeramic and Vitrified Tiles · Mainboard IPO · INE0M5301040
Price band
₹140 – ₹148
Lot size
101 shares
Min. investment
₹14,948
Issue size
₹708 Cr
Face value
₹2
Registrar
Kfin Technologies Ltd.
Issue timeline
Bidding opens
22 Sept 2026
Bidding closes
24 Sept 2026
Allotment
25 Sept 2026
Listing
29 Sept 2026
Final subscription
95,976
applications
₹488 Cr
bid value
| Category | Bid for | ₹ Cr* |
|---|---|---|
| Qualified Institutional (QIB) | 1,59,93,855 | 237 |
| Non-Institutional >₹10L (bNII) | 39,68,088 | 59 |
| Non-Institutional ₹2–10L (sNII) | 15,47,017 | 23 |
| Retail (RII) | 1,14,62,692 | 170 |
| Total | 3,29,71,652 | 488 |
Live category-wise demand from NSE only. Add each category's offered shares (from the RHP) in IPO Master to show the subscription (x) multiple.
About the company
Varmora Granito Limited is engaged in the business of manufacturing and marketing ceramic and vitrified tiles.
Issue details
Issue size
₹708 Cr
Fresh issue
₹320 Cr
Offer for sale
₹388 Cr
Industry
Ceramic and Vitrified Tiles
Promoter holding (pre)
52
Promoter holding (post)
46.55
Financials (₹ Cr)
| Metric | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Total income | 1,472.58 | 1,492.68 | 1562.53 Cr |
| EBITDA | 150.33 | 198.29 | 221.56 |
| Profit after tax | 44.94 | 30.77 | 55.09 Cr |
| Net worth | 678.59 | 722.90 | 796.88 |
| Total assets | 1,476.16 | 1,589.80 | 1,509.87 |
| Total borrowing | 412.89 | 505.16 | 357.95 |
Objects of the issue
- 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.
- General Corporate Purposes
Strengths
- Wide range of products across formats such as glazed vitrified tiles (GVT), polished vitrified tiles (PVT), and ceramic tiles.
- Strong distribution network covering 949 cities across 27 states and union territories in India.
- Established export operations to over 100 countries.
Risks
- Dependence on the construction industry which is cyclical in nature.
- Competition from other manufacturers in the ceramic and vitrified tiles market.
- Fluctuations in raw material prices may impact profitability.
Documents
Calculate your bid
At cut-off price ₹148
Lots
1
- Shares
- 101
- Amount
- ₹14,948
UPI mandate — funds are blocked, not debited.
- SEBI-registered broker — NSE member 90113
- Funds stay blocked in your own bank — debited only on allotment
- Apply for your whole family from one login