IPO Issue Details
Issue Price / Price Band₹48 per share (Fixed Price)
Face Value₹2 Per Share
Lot Size101 Shares per Lot
Total Issue Size4,78,39,255 shares (agg. up to ₹708 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh capital cum OFS
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenTue, 22 Sep 2026
Subscription CloseThu, 24 Sep 2026
Anchor AllotmentMon, 21 Sep 2026
Basis of AllotmentFri, 25 Sep 2026
Initiation of RefundsMon, 28 Sep 2026
Credit of Shares to DematMon, 28 Sep 2026
Listing DateTue, 29 Sep 2026
UPI Mandate Deadline5:00 PM on 24 Sep 2026 (Day 3)
Application & Investment Details
Retail — Min (1 Lots)₹14,948 — 101 shares
Retail — Max (13 Lots)₹63,024 (13 Lots)
HNI — Min (67 Lots)₹10,01,516 — 6767 shares
EPS (Pre-IPO)₹2.70
EPS (Post-IPO)₹2.44
P/E Ratio (Pre-IPO)54.81x
P/E Ratio (Post-IPO)60.66x
Pre-IPO Promoter Holding20,43,90,203 shares
Post-IPO Promoter Holding22,60,11,824 shares
Fresh Issue Shares2,16,21,621 shares (agg. up to ₹320 Cr)
Offer for Sale Shares2,62,17,634 shares of ₹2 (agg. up to ₹388 Cr)
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, technology-driven products, with GVT and technical tiles accounting for around 84% of its tile revenue in Fiscal 2026.The company operates eight manufacturing facilities in the Morbi cluster of Gujarat, with 81.72% of its revenue in Fiscal 2026 generated from in-house manufactured products. It has also adopted Integrated Stone Technology (IST) through a technology partnership with Italy-based SACMI, supporting its focus on innovative and premium tile products.Varmora has a wide distribution network comprising 305 exclusive brand outlets and 2,758 multi-brand outlets across India and overseas, along with B2B sales to builders, contractors, developers and government entities.The company also focuses on sustainability, with 16.22 MW of renewable energy capacity from wind and solar. As of March 2026, it had 1,153 permanent employees. Key StrengthDiversified premium product portfolioTechnology-led innovation, pan-India distributionIn-house manufacturing capabilities and a focus on sustainability.
Objects of the Issue
Varmora Granito Ltd proposes to utilise the net proceeds from the Issue for the following 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 Pvt.Ltd. and Varmora Sanitarywares Pvt.Ltd. (formerly, Varmora Sanitarywares LLP), and of the subsidiary, Simola Tiles LLP, through investment in such Subsidiaries
245.00
2
General Corporate Purposes
Shareholding & Lock-in
Pre-IPO Promoter Holding
20,43,90,203 shares
Post-IPO Promoter Holding
22,60,11,824 shares