Niva Market Watch

Varmora Granito Limited IPO

listed · NSE · Bookbuilding IPO

Varmora Granito Limited IPO was a ₹708 crore book-built issue on NSE with a price band of ₹140–₹148 per share, open for bidding from 22 Sep 2026 to 24 Sep 2026.

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Company overview

Website
https://www.varmora.com/

IPO overview

Varmora Granito Limited raised ₹708 crore through a book-built issue, combining new shares issued by the company (a fresh issue) with shares sold by existing shareholders (an offer for sale).

Bids were accepted within a price band of ₹140–₹148 per share (face value ₹2); the final issue price is set within this band after bidding closes.

The shares listed on NSE on 29 Sep 2026.

JM Financial Ltd. was the book-running lead manager and Kfin Technologies Ltd. is the registrar, which processes applications, allotment and refunds.

Stated objects of the issue: Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by: The company and wholly-owned subsidiaries namely Covertek Ceramica Pvt.Ltd. and Varmora Sanitarywares Pvt.Ltd. (formerly, Varmora Sanitarywares LLP), and of the subsidiary, Simola Tiles LLP, through investment in such Subsidiaries General Corporate Purposes.

Issue type
Bookbuilding IPO
Issue structure
Fresh capital cum OFS
Issue size
₹708 crore
Price
₹140–₹148 per share
Face value
₹2 per share
Exchange
NSE
Lead manager
JM Financial Ltd.
Registrar
Kfin Technologies Ltd.

IPO timeline

  1. Bidding opens 22 Sep 2026
  2. Bidding closes 24 Sep 2026
  3. Basis of allotment 25 Sep 2026
  4. Refunds / unblocking 28 Sep 2026
  5. Shares credited to demat 28 Sep 2026
  6. Listing 29 Sep 2026

Bidding ran from 22 Sep 2026 to 24 Sep 2026.

After bidding, the basis of allotment was due on 25 Sep 2026, refunds / unblocking of funds were due on 28 Sep 2026 and shares were due to be credited to demat accounts on 28 Sep 2026.

The shares listed on 29 Sep 2026.

Grey market premium (unofficial)

The last grey market premium (GMP) we recorded for this issue was ₹15 on 18 Sep 2026, equal to 10.1% of the upper price band.

We do not yet record actual listing prices, so this page does not compare the GMP with where the shares opened.

  • GMP is unofficial: it is not published or verified by NSE, BSE or SEBI, changes quickly, and is not a forecast or guarantee of the listing price.

Allotment

The basis of allotment was due on 25 Sep 2026. Applicants can check their status using their PAN, application number or demat account details.

The registrar, Kfin Technologies Ltd., processes allotment; check status on its website or the exchange's application-status page.

Offer documents

Where the offer document differs from any figure on this page, the document prevails.

Sources and data methodology

NSE & BSE public-issue data; Chittorgarh and InvestorGain (fill gaps only); InvestorGain grey market report (unofficial); Chittorgarh allotment calendar. Methodology · Report an error

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