Varmora Granito Limited
Key dates
Issue reservation
₹708 CrLot ladder — how much to bid
1 lot = 101 sharesIssue details
Share-wise
by category| Category | Book Size | Subscription | No. of Times |
|---|---|---|---|
| QIB (Ex. Anchor) | 95,67,653₹141.60 Cr | 2,96,22,290₹438.41 Cr | 3.10× |
| HNI | 71,75,829₹106.20 Cr | 67,70,838₹100.21 Cr | 0.94× |
| HNI (10L+) | 47,83,886₹70.80 Cr | 45,18,437₹66.87 Cr | 0.94× |
| HNI (2-10L) | 23,91,943₹35.40 Cr | 22,52,401₹33.34 Cr | 0.94× |
| Retail | 1,67,43,599₹247.81 Cr | 1,70,92,634₹252.97 Cr | 1.02× |
| Total | 3,34,87,081₹495.61 Cr | 5,34,85,762₹791.59 Cr | 1.60× |
*QIB Book Size EXCLUDES the anchor portion of 1,43,51,775 shares, from the actual anchor allotment.
Application-wise
| Category | Req 1× | Total | Times |
|---|---|---|---|
| HNI (10L+) | 707 | 375 | 0.53× |
| HNI (2-10L) | 1,692 | 1,331 | 0.79× |
| Retail | 1,65,778 | 1,41,781 | 0.86× |
Total applications: 1,43,487
Subscription Demand
in ₹ crore| Category | Applied |
|---|---|
| QIB | 438.41 |
| HNI | 100.21 |
| HNI (10L+) | 66.87 |
| HNI (2-10L) | 33.34 |
| Retail | 252.97 |
| Total | 791.59 |
Amounts at the upper band (₹148). Times figures are computed from the shares this page shows so Book × Times = Subscribed always cross-checks.
Particulars | FY26 | FY25 | FY24 |
Assets | 1,509.87 | 1,589.80 | 1,476.16 |
Total Income | 1,562.53 | 1,492.68 | 1,472.58 |
PAT | 55.09 | 30.77 | 44.94 |
Net Worth | 796.88 | 722.9 | 678.59 |
Reserves & Surplus | 765.7 | 691.72 | 630.2 |
Total Borrowing | 357.95 | 505.16 | 412.89 |
Company Debt Repayment: ₹215 Cr
Subsidiary Debt Repayment: ₹30 Cr
General Corporate Purposes: Balance amount
OFS: ₹388.02 Cr to selling shareholders
Varmora Granito Limited is a prominent Indian manufacturer of ceramic and vitrified tiles, bathware, sanitaryware, and tile adhesives. Established in November 2003 as a private limited company, the company was subsequently converted into a public limited company in 2025. Headquartered in Gujarat, with significant manufacturing operations located in the Morbi industrial cluster, Varmora operates multiple manufacturing facilities and offers a diverse portfolio comprising more than 3,500 product designs. The company has established a strong presence in both domestic and international markets, with its products being exported to more than 100 countries worldwide. In the Indian market, Varmora has developed an extensive distribution network comprising hundreds of Exclusive Brand Outlets (EBOs) and thousands of Multi-Brand Outlets (MBOs), enabling it to serve a broad customer base across various regions.
Company strengths
In-House Manufacturing: 80%+ revenue from own plants in Morbi.
Strong Distribution: Extensive India network with exports to 100+ countries.
Premium Portfolio: GVT, technical surfaces, bathware, and adhesives.
Advanced Technology: Early adoption of SACMI’s IST technology.
Experienced Promoters: Decades of ceramic industry expertise.
Promoters
Registered office & contact
Varmora Granito Limited
Address - 8-A, National Highway,
Dhuva, Taluka Wankaner
Rajkot, Gujarat, 380054
📞 +91-9909913657
✉️ investor.relations@varmora.com
What is the minimum investment in the Varmora Granito Limited IPO?
One lot of 101 shares — ₹14,948 at the upper price band of ₹148.
How many bids can I place?
Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.
When are the funds debited?
Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.
When will the shares list?
Tentative listing on 2026-09-29 on NSE / BSE.