Varmora Granito Limited IPO
22 Sept 2026 – 24 Sept 2026
Share Price
- Candle
- 6 Oct
- O
- ₹134.6
- H
- ₹136.02
- L
- ₹130.51
- C
- ₹132.84
5 trading days since listing · NSE end-of-day prices
Issue Details
- Price Band
- ₹140 – ₹148
- Lot Size
- 101 shares
- Min Investment
- ₹14,948 (1 lot · 101 shares)
- Face Value
- ₹2
- Fresh Issue
- ₹320 Cr (to the company)
- Offer for Sale
- 2,62,17,634 shares (to selling holders)
- Issue Size
- Initial Public offering comprising of fresh issue of aggregating up to Rs. 3,200.00 million and Offer for sale up to 26,217,634 Equity shares (including Anchor portion of 1,43,51,775 Equity Shares)
- Registrar
- KFin Technologies Limited ↗
Timetable
GMP History
Latest GMP ₹1 · Last updated 7 Oct 2026, 11:51 am IST
| Date | GMP | GMP % | Change | Est. Listing | Updated (IST) |
|---|---|---|---|---|---|
| 28 Sept | ₹1 | +0.7% | +₹1 | ₹149 | |
| 27 Sept | ₹0 | 0.0% | — | ₹148 | |
| 26 Sept | ₹0 | 0.0% | −₹0.5 | ₹148 | |
| 25 Sept | ₹0.5 | +0.3% | — | ₹148.5 | |
| 24 Sept | ₹0.5 | +0.3% | +₹0.5 | ₹148.5 | |
| 23 Sept | ₹0 | 0.0% | −₹3 | ₹148 | |
| 22 Sept | ₹3 | +2.0% | −₹6 | ₹151 | |
| 21 Sept | ₹9 | +6.1% | −₹3 | ₹157 | |
| 20 Sept | ₹12 | +8.1% | — | ₹160 | |
| 19 Sept | ₹12 | +8.1% | −₹3 | ₹160 | |
| 18 Sept | ₹15 | +10.1% | — | ₹163 |
Subscription
Category-wise bidding
| Category | Offered | Bid for | Times |
|---|---|---|---|
| QIB | 93,65,51027.6% | 1,59,93,855 | 1.71x |
| NII / HNI | 73,61,21721.7% | 55,15,105 | 0.75x |
| bNII · bids above ₹10L | 49,07,47814.5% | 39,68,088 | 0.81x |
| sNII · bids ₹2L–₹10L | 24,53,7397.2% | 15,47,017 | 0.63x |
| Retail | 1,71,76,17250.7% | 1,14,62,692 | 0.67x |
Bids received on NSE, as at 24-Sep-2026 19:00:16 IST. The two NII rows are parts of the NII total above them, not additions to it.
Day-wise subscription
| Date | QIB | NII / HNI | Retail | Total |
|---|---|---|---|---|
| 24 Sept | — | — | — | 0.97x |
| 23 Sept | 0.11x | 0.17x | 0.40x | 0.27x |
| 22 Sept | 0.00x | 0.05x | 0.20x | 0.11x |
Financials
All values in ₹ crore
About Varmora Granito
Incorporated in 2003, Varmora Granito Limited is engaged in the business of manufacturing and marketing ceramic and vitrified tiles. The company’s product portfolio includes a wide range of tiles across formats such as glazed vitrified tiles (GVT), polished vitrified tiles (PVT), and ceramic tiles. The company distributes its products through a multi-channel network comprising: Business-to-Consumer (B2C) channels: 286 exclusive brand outlets (EBOs) and over 2,000 multi-brand outlets (MBOs) Business-to-Business (B2B) channels: Builders, contractors, developers, and government procurement As of March 31, 2025, the company’s distribution network covered 949 cities across 27 states and union territories in India. The product portfolio included more than 3,500 stock-keeping units (SKUs) as of March 31, 2025. Manufacturing Facilities As of March 31, 2025, the company operated nine manufacturing facilities, all located in the Morbi industrial cluster in Gujarat. Export Operations As of March 31, 2025, the company exported products to over 100 countries, supported by a dedicated export team comprising 47 personnel. Employees The company employed 1,156 permanent employees as of March 31, 2025.
As published in the company's own offer documents.
Lead Managers
- JM Financial Limited
- Goldman Sachs (India) Securities Private Limited
- SBI Capital Markets Limited
Offer details
Application sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)one lot, the smallest bid allowed | 1 | 101 | ₹14,948 |
| Retail (max)most that stays under ₹2L | 13 | 1,313 | ₹1,94,324 |
| S-HNI (min)first bid over ₹2L | 14 | 1,414 | ₹2,09,272 |
| S-HNI (max)most that stays under ₹10L | 66 | 6,666 | ₹9,86,568 |
| B-HNI (min)first bid over ₹10L | 67 | 6,767 | ₹10,01,516 |
Priced at the top of the band, which is what a cut-off bid pays. Retail ends at ₹2,00,000 and S-HNI at ₹10,00,000; these are SEBI's limits, not the issuer's.
Issue mechanics
- Issue Type
- Book Building
- Minimum Order
- 101 Equity Shares
- Categories
- FI, IC, MF, FII, OTH, CO, IND, and NOH
- UPI Eligible
- IND (upto 5 Lakhs)
- Max Bid (Retail)
- Rs. 2,00,000
- Max Bid (QIB)
- 3,39,02,872 Equity Shares in multiple of 101 Equity Shares (Calculated at Lower end price band)
- Max Bid (NII)
- 2,45,37,344 Equity Shares in multiple of 101 Equity Shares (Calculated at Lower end price band)
- Tick Size
- Re. 1
- Bidding Hours
- 10.00 a.m. to 5.00 p.m.
- UPI Mandate Cut-off
- 24-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability
- Sponsor Bank
- HDFC Bank Limited and Kotak Mahindra Bank Limited
Registrar
- Name
- KFin Technologies Limited
- Address
- Selenium Tower B, Plot No.31 and 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad 500 032, Telangana, India
- Contact
- M Murali Krishna, +91 40 6716 2222, vgl.ipo@kfintech.com
Documents
- Red Herring ProspectusThe full offer documentPDF
- Basis of Issue PriceHow the band was arrived atPDF
- Anchor AllocationWho was allotted before the issue openedPDF
- Application FormThe blank ASBA form, as filedPDF
- Bidding CentresWhere a physical form can be handed inPDF
- Security ParametersTick size, lot and limits as filed with the exchangePDF
- Security Parameters (post-anchor)The same, restated after the anchor book closedPDF
Published by NSE as ZIP archives; opened here as the PDF inside.
Collected from NSE and public sources. Always confirm against the prospectus before applying.
Frequently Asked Questions
What is the GMP of Varmora Granito Limited IPO today?
The latest grey market premium for Varmora Granito Limited IPO is ₹1. GMP is unofficial and indicative only — it is not a guarantee of listing price.
What is the price band of Varmora Granito Limited IPO?
The price band is ₹140 – ₹148, with a lot size of 101 shares. The minimum investment is ₹14,948.
When does Varmora Granito Limited IPO open and close?
The issue opens on 22 Sept 2026 and closes on 24 Sept 2026. Listing is expected on 29 Sept 2026.
Who is the registrar for Varmora Granito Limited IPO?
KFin Technologies Limited is the registrar. Allotment status can be checked on the registrar's website once allotment is finalised.