Varmora Granito sets ₹148 cap for IPO opening September 22
The IPO includes a fresh issue of equity shares worth up to ₹3,200 million and a sale of up to 26,217,634 shares by existing investor Katsura Investments
Varmora Granito Limited plans to launch its initial public offering (IPO) on September 22, 2026, with the bidding process concluding on September 24. The tile manufacturer has set a price range of ₹140 to ₹148 per share, each carrying a face value of ₹2. The IPO is divided into two segments: a fresh issue of up to ₹3,200 million worth of equity shares, and an offer for sale of up to 26.217 million shares by Katsura Investments, an existing investor.
The company intends to list the shares on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with the NSE acting as the primary exchange. Retail investors are required to submit bids in multiples of 101 shares, with a minimum lot size of 101 shares. If the IPO price reaches the cap of ₹148, the minimum application amount would be around ₹14,948.
According to the book-building framework, 50% of the offer is set aside for qualified institutional buyers, while at least 15% is reserved for non-institutional investors, and a minimum of 35% is allocated to retail investors. All non-anchor investors must participate in the application process via the ASBA (Application Supported by Blocked Amount) system. Managing the issue are JM Financial Limited, Goldman Sachs (India) Securities Private Limited, and SBI Capital Markets Limited.
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