Aritas Vinyl IPO
Market Sentiment
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2023 | 2024 | 2025 | August 2025 |
|---|---|---|---|---|
| Revenue | 51.42 | 69.25 | 98.02 | 40.58 |
| Expense | 50.20 | 67.22 | 92.96 | 37.60 |
| Profit (PAT) | 0.99 | 1.67 | 4.13 | 2.42 |
| Total Assets | 57.95 | 76.12 | 95.26 | 98.25 |
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Mirza International Limited | 0.93 | 39.71 | -1 |
| Amin Tannery Limited | 0.03 | 58.67 | 2 |
Promoters: Mr. Anilkumar Prakashchandra Agrawal, Mr. Sanjaykumar Kantilal Patel, Mr. Ankit Anilbhai Agrawal, Mr. Mohit Ashokkumar Agrawal, Mr. Rohit Dineshbhai Agrawal, Mr. Rutvik Patel and Mr. Shubham Sunilbhai Agrawal
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,26,90,080 | 47.22% |
| Promoter Holding Post Issue | 1,96,88,680 | 27.99% |
Strengths & Risks
- Revenue grew 42% in the latest reported year.
- Strong return on equity — 31%.
- Elevated leverage — debt/equity of 1.80.
- Promoter stake drops to 28% after the issue.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Aritas Vinyl Private Limited, founded in 2020, is one of the leading companies involved in the manufacturing of technical textiles. The company utilizes the latest technology, known as Transfer Coating Technology, to produce artificial leather, also referred to as PU Synthetic leather, and PVC-coated leather. Aritas Vinyl manufactures Artificial leather to cater to the automotive, fashion, and interior design industries. Unlike firms that produce animal leathers, Aritas has been known to offer synthetic leather, following the sustainable and environmentally friendly approach. Its product portfolio consists of Automotive upholstery, material used to cover vehicle interiors, fashion accessories like bags, wallets, laptop sleeves, and purses, and interior design for wall coverings and furniture. The company sells its products through distributors, wholesalers, manufacturers, and supplies to foreign countries like Greece, Oman, the UAE, Sri Lanka, the USA, and SEZs as well.
Aritas Vinyl Ltd., Survey No. 1134,, Near Elegant Vinyl Private Limited,, Daskroi,, Ahmedabad, Gujarat, 382430
| Purpose | Amount (Cr) |
|---|---|
| Capital Expenditure for Solar Power Project | 4.26 |
| Working Capital | 20.45 |
| General Corporate Purpose | - |
Resources & Documents
Aritas Vinyl has set a price band of Rs 45–Rs 47 per share in the vinyl manufacturing sector. The stock listed flat against its issue price.
Aritas Vinyl Private Limited, founded in 2020, is one of the leading companies involved in the manufacturing of technical textiles. The company utilizes the latest technology, known as Transfer Coating Technology, to produce artificial leather, also referred to as PU Synthetic leather, and PVC-coated leather. The company operates in the vinyl manufacturing space.
The issue is promoted by Mr. Anilkumar Prakashchandra Agrawal, Mr. Sanjaykumar Kantilal Patel, Mr. Ankit Anilbhai Agrawal, Mr. Mohit Ashokkumar Agrawal, Mr. Rohit Dineshbhai Agrawal, Mr. Rutvik Patel and Mr. Shubham Sunilbhai… with Interactive Financial Services Ltd. acting as lead manager. Net proceeds will primarily be used towards Capital Expenditure for Solar Power Project (Rs 4 crore) and Working Capital (Rs 20 crore).
On fundamentals, the company is posting revenue growth of 41.6%, a profit margin of 4.2%, return on equity of 31.2% in its most recent reported period. Listed peers in this segment include Amin Tannery Limited (P/E 58.67x, market cap Rs 2 crore) and Mirza International Limited (P/E 39.71x, market cap Rs -1 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Aritas Vinyl IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. No grey market premium was recorded for Aritas Vinyl before it listed.
See the full Aritas Vinyl GMP history and trend, or learn how grey market premium works and how reliable it is.
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