Varmora Granito Limited
VARMORA • NSE
Issue details
Price band
₹140 - ₹148
Lot size
101 shares
Issue size
₹726.31 Cr
Min. investment
₹14,948
Registrar
KFin Technologies
Grey market premium
Est. gain+₹13 · 9%
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IPO Timeline
Open
22 Sep
Close
24 Sep
Allotment
25 Sep
Listing
29 Sep
- Refunds & demat credit
- 26 Sep 2026
- Mandate end
- 9 Oct 2026
- Anchor lock-in 50%
- 25 Oct 2026
- Anchor lock-in 100%
- 24 Dec 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative. Anchor lock-in applies only to issues with an anchor allotment.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| RII | 101shares 1 lot · ₹14,948 | 1,313shares 13 lots · ₹1,94,324 |
| sNII (₹2L–₹10L) | 1,414shares 14 lots · ₹2,09,272 | 6,666shares 66 lots · ₹9,86,568 |
| bNII (above ₹10L) | 6,767shares 67 lots · ₹10,01,516 | No limit funds permitting |
Based on the upper price band of ₹148 and a lot of 101 shares.
Issue structure
Face value
₹2 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹320 Cr
2,16,21,621 shares
Offer for sale
₹388 Cr
2,62,17,634 shares
Shares pre-issue
20,43,90,203
Shares post-issue
22,60,11,824
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 2.7 | 2.44 |
| P/E | 54.81 | 60.66 |
| Market cap | ₹3,024.98 Cr. | ₹3,344.97 Cr |
| KPI | Mar 31, 2026 |
|---|---|
| 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 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| 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 | 796.88 | 722.9 | 678.59 |
| Assets | 1,509.87 | 1,589.8 | 1,476.16 |
| Reserves & surplus | 765.7 | 691.72 | 630.2 |
| Total borrowing | 357.95 | 505.16 | 412.89 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 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 Cr
- 2.General Corporate Purposes—
What the company says it intends to do with the money raised.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 18 Sep 2026. Always verify against the RHP before applying.