Varmora Granito IPO Profile

Varmora Granito Limited is a manufacturer and marketer of ceramic and vitrified tiles. The company operates in the Indian tiles industry and has a wide product portfolio along with a domestic distribution network and international presence.

Varmora Granito IPO is a Mainboard Book Built Issue. The total issue size is approximately ₹1,096.04 crore, comprising a fresh issue and an Offer for Sale (OFS).

Varmora Granito IPO Details

Varmora Granito IPO Lot Size

The above application amounts are calculated at the upper price band of ₹148 per share.

Varmora Granito Company Profile

Varmora Granito Limited is engaged in the manufacturing and marketing of ceramic and vitrified tiles. The company has developed a diversified product portfolio catering to different segments of the tile market.

Product Portfolio

• Glazed Vitrified Tiles (GVT)
• Polished Vitrified Tiles (PVT)
• Ceramic Tiles
• Large-format tile products
• Other decorative and surface solutions

Distribution Network

The company has an extensive domestic distribution network through exclusive brand outlets and multi-brand outlets. Its products are also exported to international markets.

Manufacturing

Varmora Granito has manufacturing operations in the Morbi industrial cluster of Gujarat, one of India's major ceramic manufacturing hubs.

International Presence

The company exports its products to more than 100 countries, giving it exposure to international markets in addition to its domestic business.

Varmora Granito Financials

The following financial figures are based on the available financial information for the company.

IPO Valuation

Objects of the Varmora Granito IPO

According to the issue information, a significant portion of the fresh issue proceeds is proposed to be used towards repayment or pre-payment of certain outstanding borrowings and accrued interest.

Varmora Granito IPO Reservation

Varmora Granito IPO Strengths

• Established presence in the ceramic and vitrified tile industry.
• Diversified portfolio of ceramic and vitrified tile products.
• Strong domestic distribution network through exclusive and multi-brand outlets.
• International presence with exports to more than 100 countries.
• Manufacturing presence in Morbi, Gujarat, a major ceramic manufacturing hub.
• Fresh issue proceeds are proposed to be used partly for debt repayment/pre-payment.

Varmora Granito IPO Risks

• The company's net profit declined from ₹46.62 crore in FY2023 to ₹28.83 crore in FY2025.
• The ceramic and vitrified tile industry is highly competitive.
• The business can be affected by fluctuations in raw material, energy and transportation costs.
• International business exposes the company to currency movements and overseas market conditions.
• Changes in real estate, construction and infrastructure activity can influence demand for tiles.
• The IPO valuation and market price after listing may fluctuate depending on market conditions and investor demand.

Varmora Granito IPO Important Dates

Varmora Granito IPO Allotment Status

The basis of allotment is scheduled for 25 September 2026. Investors can check their allotment status after the allotment is finalized by the registrar.

Varmora Granito IPO FAQs