Market News
Varmora Granito IPO Listing: Date, Price & Listing Performance
Varmora Granito IPO listed on BSE and NSE at ₹155, with a 4.73% gain over the issue price.
· 3 min read
AI wrote this article from prospectus and exchange data, and software checked its figures against that data before publishing. How our content is made
Issue price
Varmora Granito IPO was priced in the band of ₹140 to ₹148 per share. The face value was ₹2 per equity share.
For a quick view of the issue details, see the Varmora Granito IPO analysis page.
GMP before listing
The unofficial grey market premium for Varmora Granito IPO was ₹1 as of 29 Sept 2026, 9:05 am IST. At that time, the estimated listing price was ₹149 and the estimated listing percentage was 0.68%.
The GMP had also been ₹15 on 19 Sept 2026, and then stayed at ₹0 on 23 Sept 2026, 25 Sept 2026, 26 Sept 2026, 27 Sept 2026, and 28 Sept 2026.
Actual listing price
Varmora Granito shares listed at ₹155 on 29 September 2026 on BSE and NSE.
Listing gain or loss
The listing resulted in a gain of 4.73% over the issue price.
Comparison with GMP
The actual listing price was ₹6 higher than the estimated listing price of ₹149 suggested by the unofficial grey market premium.
In other words, the listing was slightly better than the GMP indication, but the gap was small.
What happened
Varmora Granito IPO was a Mainboard book build issue of approximately ₹708.02 crores. The issue included a fresh issue of approximately ₹320 crores and an offer for sale of approximately 2,62,17,634 equity shares.
The IPO opened on 22 September 2026, closed on 24 September 2026, and was listed on 29 September 2026.
Subscription stood at 1.60 times as of 24 Sept 2026, 7:00 pm IST. The latest category-wise subscription was 3.10 times in QIB, 0.94 times in NII, and 1.02 times in RII.
The company is a ceramic and vitrified tiles manufacturer founded in 2003. It operates through B2C and B2B channels, with 9 manufacturing facilities in the Morbi industrial cluster in Gujarat.
Key issue details
| Particulars | Details |
|---|---|
| Issue size | Approx 708.02 Crores |
| Fresh issue | Approx 320 Crores |
| Offer for sale | Approx 2,62,17,634 Equity Shares |
| Price band | 140 to 148 Per Share |
| Face value | 2 Per Equity Share |
| Listing date | September 29, 2026 |
| Exchange | BSE, NSE |
Subscription snapshot
| Category | Subscription |
|---|---|
| QIB | 3.10 |
| NII | 0.94 |
| RII | 1.02 |
| Total | 1.60 |
Financial snapshot
| Period ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 1,472.58 | 1,412.92 | 44.94 | 1,476.16 |
| 2025 | 1,492.68 | 1,456.28 | 30.77 | 1,589.80 |
| 2026 | 1,562.53 | 1,486.36 | 55.09 | 1,509.87 |
Valuation snapshot
| Metric | Value |
|---|---|
| ROE | 6.80% |
| ROCE | 9.89% |
| EBITDA margin | 14.18% |
| PAT margin | 3.53% |
| EPS | 3.08 (Basic) |
| P/E ratio | N/A |
| RONW | 7.79% |
| NAV | 39.52 |