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Varmora Granito Limited IPO | Key Dates, Price Band, and Lot Size
Author
Shoonya Team
Varmora Granito Limited is launching a ₹708.02 crore IPO, opening for subscription on September 22, 2026. The IPO will close on September 24, 2026. The shares will be listed on NSE and BSE, with a tentative listing date of September 29, 2026.
The price band is set at ₹140 – ₹148 per share, and the minimum lot size is 101 shares. For retail investors, the minimum investment is ₹14,948 (101 shares) at the upper band. In comparison, sNII investors must apply for 1,414 shares (₹2,09,272), while bNII investors must apply for 6,767 shares (₹10,01,516).
The Varmora Granito IPO includes a fresh issue of 2,16,21,621 shares worth ₹320 crore and an offer for sale (OFS) of 2,62,17,634 shares worth ₹388.02 crore.
Varmora Granito Limited | IPO Details
| Detail | Information |
|---|---|
| IPO Opening Date | September 22, 2026 |
| IPO Closing Date | September 24, 2026 |
| Tentative IPO Listing Date | September 29, 2026 |
| Face Value | ₹2 per share |
| Price Band | ₹140 – ₹148 per share |
| Lot Size | 101 shares |
| Total Issue Size | 4,78,39,255 shares (₹708 Cr) |
| Fresh Issue | 2,16,21,621 shares (₹320 Cr) |
| Offer for Sale (OFS) | 2,62,17,634 shares (₹388 Cr) |
| IPO Segment | Main Board – Book Building |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 20,43,90,203 shares |
| Shareholding Post-Issue | 22,60,11,824 shares |
| Market Cap (At Upper Price) | ₹3,344.97 Cr |
Varmora Granito Limited | Company Overview
Varmora Granito Limited manufactures and markets ceramic and vitrified tiles, including Glazed Vitrified Tiles (GVT), Polished Vitrified Tiles (PVT), and ceramic tiles. The company focuses on premium, technology-driven products, with GVT and technical tiles accounting for approximately 84% of its tile revenue in Fiscal 2026.
The company operates eight manufacturing facilities in the Morbi cluster of Gujarat, with 81.72% of its Fiscal 2026 revenue generated from in-house manufactured products. Its distribution network spans 305 exclusive brand outlets and 2,758 multi-brand outlets across India and overseas, complemented by B2B sales to builders, contractors, developers, and government entities. The company also has 16.22 MW of renewable energy capacity from wind and solar.
As of March 2026, Varmora Granito had 1,153 permanent employees.
Considering the Varmora Granito IPO?
Subscription open September 22–24, 2026 · Price band ₹140–₹148 · Min. investment ₹14,948
Varmora Granito Limited | Key Dates
- IPO Opening Date: September 22, 2026
- IPO Closing Date: September 24, 2026
- Allotment Date: September 25, 2026
- Refunds Initiated: September 28, 2026
- Shares Credited to Demat: September 28, 2026
- Listing Date: September 29, 2026
- Cut-off Time for UPI Mandate Confirmation: Typically 5 PM on the IPO closing date (September 24, 2026)
Varmora Granito IPO | Lot Size & Investment
Investors can bid for a minimum of 101 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 101 | ₹14,948 |
| Retail (Max) | 13 | 1,313 | ₹1,94,324 |
| S-HNI (Min) | 14 | 1,414 | ₹2,09,272 |
| S-HNI (Max) | 66 | 6,666 | ₹9,86,568 |
| B-HNI (Min) | 67 | 6,767 | ₹10,01,516 |
Investor Category Reservations
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
Shares are reserved as follows: not more than 50% of the Offer for QIBs, not less than 35% for Retail investors, and not less than 15% for NII investors.
Varmora Granito Limited | Financial Overview
Varmora Granito Limited’s revenue increased by 5% and profit after tax (PAT) rose by 79% between the financial years ending March 31, 2026 and March 31, 2025, reflecting strong margin recovery.
Here’s a snapshot of its year-on-year financial performance:
| Detail | 31-Mar-26 | 31-Mar-25 | Change | Change % |
|---|---|---|---|---|
| Assets | 1,509.87 | 1,589.80 | -79.93 | -5.03% |
| Total Income | 1,562.53 | 1,492.68 | +69.85 | +4.68% |
| Profit After Tax | 55.09 | 30.77 | +24.32 | +79.04% |
| EBITDA | 221.56 | 198.29 | +23.27 | +11.74% |
| Net Worth | 796.88 | 722.90 | +73.98 | +10.23% |
| Reserves & Surplus | 765.70 | 691.72 | +73.98 | +10.70% |
| Total Borrowing | 357.95 | 505.16 | -147.21 | -29.14% |
Amounts are in ₹ Crore.
Varmora Granito Limited IPO | FAQs
When does the Varmora Granito IPO open and close?
The Varmora Granito IPO opens on September 22, 2026, and closes on September 24, 2026.
What is the price band and lot size for the Varmora Granito IPO?
The price band for the Varmora Granito IPO is ₹140 – ₹148 per share, and the minimum lot size is 101 shares. Retail investors must apply for at least 1 lot (101 shares), amounting to ₹14,948 at the upper band.
How can I check the allotment status of the Varmora Granito IPO?
You can check the Varmora Granito IPO allotment status on the registrar’s website, KFin Technologies Ltd., using your PAN, Application Number, or DP ID, or via the NSE/BSE issue information pages.
Who is the registrar for the Varmora Granito IPO?
The registrar for the Varmora Granito IPO is KFin Technologies Ltd.
What is the refund and Demat credit date for the Varmora Granito IPO?
Varmora Granito IPO refunds will be initiated on September 28, 2026, and shares will be credited to Demat accounts on the same day.
What is the face value of Varmora Granito IPO shares?
The face value of shares under the Varmora Granito IPO is ₹2 per share.
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