Varmora Granito to launch ₹708 crore IPO on September 22
Rajkot-based tiles and bathware maker Varmora Granito plans to open its ₹708 crore IPO on September 22, with listing proposed for September 29. The issue includes a ₹320 crore fresh issue, largely aimed at repaying borrowings, and a ₹388 crore offer for sale.
What happened
Rajkot-based tiles and bathware maker Varmora Granito will launch a ₹708 crore IPO on September 22. Fresh-issue proceeds will repay company and subsidiary
Key facts
- ₹708 crore IPO
- ₹140-148 per equity share
- September 22 launch date
- ₹320 crore fresh issue
- September 29 proposed listing
What changed
Rajkot-based tiles and bathware maker Varmora Granito will launch a ₹708 crore IPO on September 22. Fresh-issue proceeds will repay company and subsidiary borrowings, with shares proposed to list on BSE and NSE on September 29.
Why this matters
Varmora Granito’s ₹708 crore IPO gives the tiles and bathware retailer fresh capital to reduce debt, potentially strengthening its ability to invest in distribution and operations.
What to watch
- Anchor-book participation and mix of domestic institutions, foreign institutions, and high-net-worth investors.
- Subscription levels across qualified institutional buyers, non-institutional investors, and the 35% retail quota.
- Grey-market premium and changes in broader Indian IPO-market sentiment before the issue closes.
- Post-issue debt level, annual interest-cost reduction, and management guidance on use of residual fresh proceeds.
- Dealer additions, capacity-utilization trends, inventory days, and receivables growth after listing.