IPO Research Overview
Overview
Varmora Granito manufactures and sells tiles, bathware, and adhesives. Its core product categories include glazed vitrified tiles, polished vitrified tiles, ceramic tiles, sanitaryware, faucets, and tile adhesives. The company operates eight in-house manufacturing facilities situated in Morbi, Gujarat, and engages contract manufacturers to produce standard volume items. It sells products domestically across India through a franchisee-owned network of exclusive brand outlets and multi-brand outlets, alongside partnerships with architects, builders, contractors, and government agencies under its B2B channel. The company also exports products internationally to multiple countries. Revenue is primarily generated from the sale of tiles, particularly glazed vitrified tiles and technical products featuring specialized homogeneous body formulations and digital printing surface engineering. In addition to tiles, the company produces ceramic clay as an intermediate input and offers engineered stone products manufactured using integrated stone technology.
New to IPO analysis? You may review our structured guides on how IPO allotment works and IPO subscription meaning to better understand demand and allocation mechanics.
Issue Details
Issue Price
Not investment advice. Read RHP before applying.
Subscription
Min. Investment
₹140 - ₹148
Face Value
-
Issue Size
708.02
Fresh Issue
320
Listing At
BSE, NSE
Lead Manager
-
Registrar
-
Lot Size
101 shares
For category-wise quota breakdown such as QIB, HNI, and Retail allocation, refer to our IPO quota structure explanation. Compare this issue with others on our Comparison Engine
Milestones
Subscription
Subscription Progress
Subscription figures represent category demand ratios reported by exchange bidding engines.
Probability Model · Estimate
Estimated Allotment Odds
—
— probability
Retail demand: —
Subscription data unavailable.
GMP (Grey Market Premium)
+3.4% over issue price
GMP is unofficial and indicative only. It does not guarantee listing price or returns.
Trend
Tools
Total Investment
₹14,948
₹148 × 101 shares
Est. Listing Price
₹153
+₹5 premium
Est. Total Value
₹15,453
At listing price
Est. Listing Profit
+₹505
+3.4% Return
Estimates assume 100% allotment and listing at the indicated GMP rate of ₹5. Grey Market Premium is an unofficial and non-binding indicator. For allotment probabilities, review the Subscription Demand section.
Investment
Investors can bid in multiples of the lot size at the cut-off price.
Allocation
QIB
50%
NII
15%
RII
35%
Employee
-
Ownership
Promoter shareholding pre and post-issue will be updated once the final capital structure is published.
Contacts
Registrar appointment and registered office contacts will be confirmed in the statutory exchange disclosures.
Documents
Opens SEBI's official filing portal. Search for the company name in results.
Performance
Listing Exchange
BSE, NSE
Listing Price
-
Listing Gain
-
Application
UPI Method (ASBA)
Log in to your broker's app or net banking, navigate to the IPO section, select this IPO, enter lot quantity, and authorise via UPI mandate. Funds are blocked, not debited, until allotment.
ASBA via Net Banking
Log in to your bank's net banking portal, go to the IPO / ASBA section, fill in the bid details, and submit. Your bank will block the required amount automatically.
Allotment & Refund
Allotment status is typically available within 6 days of the IPO close date. Refunds for unallotted bids are credited within 2 working days post allotment.
You may also review the complete IPO allotment process explanation to understand lottery mechanics and refund timelines.
Qualitative Factors
Company Strengths
Company Risks
Legal Disclaimer
Information is sourced from publicly available exchange filings and company offer documents. GMP is unofficial and indicative. IPOCraft does not provide investment advice. Some broker links on this page are affiliate/referral links — IPOCraft may earn a commission if you open an account through them, at no extra cost to you.
Research Before You Apply
