Status
Listed
Price band
₹140–₹148
Shares in one lotA lot is the smallest bundle of shares you can apply for. Lot size, in the glossary
101 shares
Minimum money
₹14,948 for 1 lot
Issue size
₹708.02 crore
Dates
22 Sept 2026 – 24 Sept 2026
Official links
- Prospectus
- Allotment statusAllotment is the decision of who gets shares after the issue closes. Basis of allotment, in the glossary
How to apply
Use UPI and ASBA. The guide covers the close, allotment, and the T+3 listing.
Open the guideRelated guides
Varmora Granito Ltd. IPO is listed. It opens on 22 Sept 2026 and closes on 24 Sept 2026. The price band is ₹140 to ₹148. One lot is 101 shares, and the minimum amount is ₹14,948. The issue size is ₹708.02 crore, with a fresh issue of ₹320 crore and an offer for sale of ₹388.02 crore. In FY26, total income was ₹1,562.53 crore and profit after tax was ₹55.09 crore. Total income was up 4.7% from ₹1,492.68 crore in FY25. Profit after tax was up 79% from ₹30.77 crore in FY25.
The total subscription for Varmora Granito Ltd. is 1.6 times.
Varmora Granito Ltd. listed at ₹155.
Varmora Granito makes and sells ceramic and vitrified tiles. It focuses on premium and large-format products.
Dates
Opens
22 Sept 2026
Closes
24 Sept 2026
AllotmentAllotment is the decision of who gets shares after the issue closes. Basis of allotment, in the glossary
25 Sept 2026
Refunds
28 Sept 2026
Demat credit
28 Sept 2026
Listing
29 Sept 2026
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…
- General Corporate Purposes
- Issue Expenses
Promoters
Bhavesh Vallabhdas Varmora, Hiren R Varmora and Pramodkumar Parsotambhai Patel
Subscription
Subscribed 1.6x overall. Final, as of 24 Sept 5 pm IST.
Big fundsQIB means a big institution, such as a mutual fund or a bank. How allotment works
3.1x
Large bidsNII means a bid bigger than the retail limit, and not from a big institution. How allotment works
0.94x
Retail
1.02x
Total
1.6x
Issue structure
Fresh issue and offer for sale
How the issue is split. Amounts are in ₹ crore.
| Part | Amount |
|---|---|
| Fresh issue | ₹320 crore |
| Offer for sale | ₹388.02 crore |
Reservation
Share kept for each group. The percents are the published figures.
| Part | Amount |
|---|---|
| Retail | 35% |
| Large bids | 15% |
| Big funds | 50% |
Issue
- Face value
- ₹2
- Fresh issue
- ₹320 crore
- Offer for saleOFS means offer for sale. Existing owners are selling shares. The company does not get that money.
- ₹388.02 crore
- Exchanges
- BSE, NSE
- Registrar
- Kfin Technologies Ltd.
Reservation
- Retail
- 35%
- Large bidsNII means a bid bigger than the retail limit, and not from a big institution. How allotment works
- 15%
- Big fundsQIB means a big institution, such as a mutual fund or a bank. How allotment works
- 50%
Financials
₹ crore, for the last three reported years.
Total income and profit
Each chart has its own scale. Amounts are in ₹ crore.
| Year | Total income | Profit |
|---|---|---|
| FY24 | ₹1,472.58 crore | ₹44.94 crore |
| FY25 | ₹1,492.68 crore | ₹30.77 crore |
| FY26 | ₹1,562.53 crore | ₹55.09 crore |
Net worth
₹ crore, for each year that reports net worth.
| Year | Net worth |
|---|---|
| FY24 | ₹678.59 crore |
| FY25 | ₹722.9 crore |
| FY26 | ₹796.88 crore |
| Year | Total income | PAT | Net worth | Assets | Borrowings |
|---|---|---|---|---|---|
| FY24 | 1,472.58 | 44.94 | 678.59 | — | — |
| FY25 | 1,492.68 | 30.77 | 722.9 | — | — |
| FY26 | 1,562.53 | 55.09 | 796.88 | — | — |
Listing
- Listing price
- ₹155
- Close on listing day
- ₹152.19
- Listing gainListing gain is how far the first traded price sits above or below the issue price. Capital gains, in the glossary
- 4.73% versus ₹148
Frequently asked questions
When does this issue open?
It opens on 22 Sept 2026 and closes on 24 Sept 2026.
What is the lot size and the minimum amount?
One lot is 101 shares. The minimum amount is ₹14,948 for 1 lot.
When are allotment and listing?
Allotment is on 25 Sept 2026. Listing is on 29 Sept 2026.
What is the price band?
The price band is ₹140 to ₹148.
What is the issue size?
The issue size is ₹708.02 crore.
How many times was it subscribed?
The total subscription is 1.6 times, checked 24 Sept 2026, 5:00 pm IST.
What was the listing gain?
The listing gain against the top of the price band is 4.73%.
This page is a calendar of dates and prices. It is not a recommendation to apply.