Varmora Granito IPO Opens Today: Check Price Band, GMP, Lot Size and Key Dates
The Varmora Granito IPO opened for subscription on September 22, giving investors an opportunity to bid for shares of the Rajkot-based manufacturer of tiles and bathware products. The company aims to raise ₹708.02 crore through the book-built public issue.
The IPO comprises a fresh issue of 2.16 crore equity shares worth ₹320 crore and an offer for sale (OFS) of 2.62 crore shares amounting to ₹388.02 crore
Varmora Granito received strong participation from anchor investors ahead of the public issue, raising ₹212.4 crore through the anchor book.
The anchor investor list included Goldman Sachs, ICICI Prudential Mutual Fund, India Acorn Fund, Turnaround Opportunities Fund, Motilal Oswal Mutual Fund, JM Financial Mutual Fund, Bharti AXA Life Insurance Company, Societe Generale and BNP Paribas Financial Markets.
The company allotted 1.43 crore equity shares to 17 funds at ₹148 per share
According to Investorgain, the Varmora Granito IPO GMP stood at ₹9 on the morning of September 22. Based on the upper price band of ₹148, the implied estimated listing price comes to around ₹157 per share, indicating a potential listing gain of approximately 6.08%.
However, the grey market premium is an unofficial indicator and can change quickly. GMP figures do not guarantee the actual listing price or returns.
Varmora Granito IPO Price Band and Minimum InvestmentThe price band for the IPO has been fixed at ₹140 to ₹148 per share
At the upper price band, the minimum investment required for one lot is ₹14,948.
JM Financial is the book-running lead manager for the issue, while Kfin Technologies is acting as the registrar.
Varmora Granito IPO Important Dates- IPO opens: September 22
- IPO closes: September 24
- Allotment: September 25
- Refund: September 28
- Shares credited: September 28
- Listing: September 29
Varmora Granito manufactures and markets ceramic and vitrified tiles, including glazed vitrified tiles, polished vitrified tiles and ceramic tiles. In FY26, glazed vitrified tiles and technical tiles together contributed around 84% of the company’s tile revenue
The company operates eight manufacturing facilities in Gujarat. Its distribution network includes 305 exclusive brand outlets and 2,758 multi-brand outlets across India and overseas markets.
Disclaimer: The information provided above is based on the details available in the IPO announcement and market-related data mentioned in the article. GMP is an unofficial market indicator and may fluctuate. Investors should review the IPO documents, company disclosures and applicable risks carefully before making any investment decision.