The Rs 708.02 crore Varmora Granito IPO is in its final day of subscription today, September 24. The mainboard IPO, which opened for bidding on September 22, will close later today.
The latest Varmora Granito IPO GMP stood at Rs 0 on September 24, indicating no premium in the grey market. Based on the IPO's upper price band of Rs 148 per share, the estimated listing price is Rs 148, indicating an estimated listing price of Rs 148, or a flat listing at the upper price band.
Note: GMP is unofficial and based on speculative activity in the unlisted market. It does not guarantee the actual listing price.
Follow Live Updates: NSE IPO Listing Live: Track Listing Price, Share Moves, Investor Response And Market Debut
Varmora Granito IPO GMP Today
The latest Varmora Granito IPO GMP today is Rs 0, as of 9:00 a.m. on September 24.
With the Varmora Granito IPO price band fixed at Rs 140 to Rs 148 per share, the current GMP of Rs 0 indicates an estimated listing price of Rs 148 at the upper price band.
The grey market premium can change before the shares are listed. Investors should therefore treat GMP only as an unofficial market indicator and not as a guaranteed listing price.
ALSO READ: NSE IPO Listing Today: Check GMP, Expected Listing Price Ahead Of Debut
Varmora Granito IPO Day 3 Subscription Status
The IPO of Varmora Granito has been subscribed 0.27 times as of 9:30 a.m. on Thursday, final day of bidding.
- QIBs Subscription: 0.11 times
- NIIs Subscription: 0.17 times
- RIIs Subscription: 0.40 times
Varmora Granito IPO Details
- Issue size: Rs 708.02 crore
- Fresh issue: Rs 320 crore
- OFS: Rs 388.02 crore
- Price band: Rs 140-Rs 148
- Lot size: 101 shares
- Minimum investment: Rs 14,948
- Listing: NSE/BSE, if confirmed
Varmora Granito IPO Key Dates
- IPO bidding opens: September 22
- IPO bidding closes: September 24
- Allotment finalisation: September 25
- Refund initiation: September 28
- Shares credited to Demat accounts: September 28
- Varmora Granito IPO listing date: September 29
Varmora Granito IPO: Use Of Proceeds
The company plans to use the net proceeds from the fresh issue primarily to repay or pre-pay, fully or partly, certain outstanding borrowings and accrued interest.
Around Rs 245 crore will be used for repayment or pre-payment of borrowings availed by Varmora Granito and its wholly owned subsidiaries Covertek Ceramica Pvt. Ltd. and Varmora Sanitarywares Pvt. Ltd., as well as its subsidiary Simola Tiles LLP through investment in the subsidiaries.
The remaining proceeds will be used for general corporate purposes.
Varmora Granito Company Financials
Varmora Granito reported an improvement in revenue and profitability in FY26 compared with FY25.
For FY26, the company reported:
- Total income: Rs 1,562.53 crore, compared with Rs 1,492.68 crore in FY25
- Profit after tax: Rs 55.09 crore, compared with Rs 30.77 crore in FY25
- EBITDA: Rs 221.56 crore, compared with Rs 198.29 crore in FY25
Revenue increased around 5%, while profit after tax rose around 79% year-on-year in FY26.
About Varmora Granito Ltd.
Varmora Granito Limited, incorporated in 2003, manufactures and markets ceramic and vitrified tiles, including Glazed Vitrified Tiles (GVT), Polished Vitrified Tiles (PVT) and ceramic tiles.
The company focuses on premium and technology-driven tile products. GVT and technical tiles accounted for around 84% of its tile revenue in FY26.
Varmora Granito operates eight manufacturing facilities in Gujarat's Morbi cluster. Around 81.72% of its FY26 revenue came from in-house manufactured products.
The company has also adopted Integrated Stone Technology (IST) through a technology partnership with Italy-based SACMI.
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.