Varmora Granito IPO
Varmora Granito opens for subscription on 22 Sept 2026 and closes on 24 Sept 2026, at a price band of ₹140 – ₹148 with a lot of 101 shares. Listing is expected on 29 Sept 2026.
Updated 22 Oct 2026
Important dates
Opens
22 Sept 2026
Closes
24 Sept 2026
Allotment
25 Sept 2026
Listing
29 Sept 2026
IPO details
| Price band | ₹140 – ₹148 |
|---|---|
| Lot size | 101 shares |
| Minimum investment | ₹14,948 |
| Issue size | ₹708.02 crore |
| Face value | ₹2 per share |
| Board | Mainboard |
| Listing at | BSE, NSE |
| Retail quota | 35% |
| EPS | ₹3.08 |
| RoNW | 7.79% |
Grey market premium (GMP)
Last reported GMP: ₹1 (0.7%), an unofficial estimated listing price near ₹149 or about ₹101 per lot.
GMP is unregulated grey market chatter, not an exchange price, and it often swings or turns out wrong on listing day. SEBI cautions investors against relying on it. Read the GMP explainer.
Subscription status
Subscribed 1.60 times overall at the last update.
| Day | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0× | 0.05× | 0.21× | 0.11× |
| Day 2 | 0.11× | 0.18× | 0.41× | 0.27× |
| Day 3 | 3.1× | 0.94× | 1.02× | 1.6× |
How many lots can you apply for?
At the upper price band. Retail bids go up to ₹2 lakh, small NII (sHNI) above ₹2 lakh up to ₹10 lakh, and big NII (bHNI) above ₹10 lakh.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 101 | ₹14,948 |
| Retail (max) | 13 | 1,313 | ₹1,94,324 |
| sHNI (min) | 14 | 1,414 | ₹2,09,272 |
| sHNI (max) | 66 | 6,666 | ₹9,86,568 |
| bHNI (min) | 67 | 6,767 | ₹10,01,516 |
See IPO categories explained for how allotment works in each.
Company financials (₹ crore)
| Year | Revenue | Expenses | Profit after tax |
|---|---|---|---|
| FY24 | 1,472.58 | 1,412.92 | 44.94 |
| FY25 | 1,492.68 | 1,456.28 | 30.77 |
| FY26 | 1,562.53 | 1,486.36 | 55.09 |
About Varmora Granito
Varmora Granito, founded in 2003, is one of the leading manufacturers of ceramic and vitrified tiles. Its product portfolio consists of a diverse range of tiles across various formats such as glazed vitrified tiles (GVT), polished vitrified tiles (PVT), and ceramic tiles. The firm operates its business through a multi-channel network that consists of B2C and B2B models. Its product portfolio consists of over 3500 products.
In the B2C network, the firm sells its products through 286 exclusive brand outlets (EBOs) and over 2,000 multi-brand outlets (MBOs), while in B2B, the firm directly sells its products to Builders, contractors, developers, and government procurement. Moreover, the company has sold its products in 949 cities across 27 states and union territories in India. Furthermore, Varmora Granito operates 9 manufacturing facilities in the Morbi industrial cluster in Gujarat.
Objects of the issue
- 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 Private Limited and Varmora Sanitarywares Private Limited (formerly, Varmora Sanitarywares LLP), and of the subsidiary, Simola Tiles LLP, through investment in such Subsidiaries; and
- General corporate purposes
Allotment status and registrar
Kfin Technologies Ltd. is the registrar. After 25 Sept 2026, check your status with your PAN or application number on the registrar's site or the BSE/NSE allotment pages.
Registrar contact: 040-79615565 · einward.ris@kfintech.com
Lead managers and offer documents
- JM Financial Ltd.
- Goldman Sachs (India) Securities Pvt.Ltd.
- SBI Capital Markets Ltd.
Varmora Granito IPO: FAQs
When does the Varmora Granito IPO open and close?
The Varmora Granito IPO opens on 22 Sept 2026 and closes on 24 Sept 2026.
What is the Varmora Granito IPO price band?
The price band is ₹140 – ₹148 per share (face value ₹2).
What is the Varmora Granito IPO lot size?
One lot is 101 shares, so the minimum investment is ₹14,948 at the upper price band.
When is the Varmora Granito IPO allotment date?
Allotment is expected on 25 Sept 2026. Check the status on the registrar's site (Kfin Technologies Ltd.) or the BSE/NSE allotment pages using your PAN.
When will Varmora Granito shares list?
Listing is expected on 29 Sept 2026 on BSE, NSE.
What is the Varmora Granito IPO GMP today?
The grey market premium was about ₹1 (0.7%) when this page was last updated, implying an unofficial estimated listing near ₹149. GMP is unregulated and can change quickly; do not rely on it.
Details are compiled from the offer documents and exchange disclosures via IPOWatch and may change or contain errors; verify in the RHP and on BSE/NSE before applying. This page is for information only and is not a recommendation to apply. Neminath Traders is not a SEBI-registered investment adviser. Read how to apply for an IPO.