Neutral impactIPO
Varmora Granito sets ₹148 cap for IPO opening September 22
BusinessLine 1 hr ago·17 Sept 2026, 1:55 pm
Varmora Granito is set to launch its initial public offering (IPO) on September 22, with a price band capped at ₹148 per share. The company plans to raise up to ₹3,200 million through a fresh issue of shares. Additionally, existing shareholder Katsura Investments will sell up to 2.62 crore shares, contributing to the total offer size.
This IPO provides a chance for investors to buy into the company's growth story in the competitive tile and ceramic industry. For the company, the funds will likely be used for business expansion and debt repayment. Investors should monitor the grey market sentiment and the company's financial performance to gauge investor demand ahead of the subscription dates.
Excerpt from BusinessLine
Varmora Granito Limited will open its initial public offering on Tuesday, September 22, 2026, with bidding closing on Thursday, September 24. The ceramic tile manufacturer has fixed a price band of ₹140 to ₹148 per equity share, each with a face value of ₹2. Anchor investor bidding is scheduled for Monday, September…Read the original at BusinessLine
Key takeaways
- Category: IPO.
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