Varmora Granito IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
Day-wise Subscription (times subscribed)
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 1,472.58 | 1,492.68 | 1,562.53 |
| Expense | 1,412.92 | 1,456.28 | 1,486.36 |
| Profit (PAT) | 44.94 | 30.77 | 55.09 |
| Total Assets | 1,476.16 | 1,589.80 | 1,509.87 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Kajaria Ceramics Limited | 30.48 | 40.27 | 15.89 | 191.11 | 4,830.36 Cr |
| Somany Ceramics Limited | 19.80 | 28.55 | 8.79 | 202.11 | 2,789.84 Cr |
| Asian Granito India Limited | 0.70 | 72.00 | 1.23 | 51.36 | 1,858.06 Cr |
| Orient Bell Limited | 8.46 | 47.67 | 3.78 | 222.78 | 691.45 Cr |
Promoters & Holding Pattern
Promoters: Bhavesh Vallabhdas Varmora, Hiren R Varmora, Pramodkumar Parsotambhai Patel
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 10,63,11,980 | 52.00% |
| Promoter Holding Post Issue | 10,52,19,084 | 46.55% |
Strengths & Risks
- Strong institutional (QIB) demand — 3.1x.
- Modest return on equity — 7%.
- Promoter stake drops to 47% after the issue.
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
About Varmora Granito
Varmora Granito Ltd.'s revenue increased by 5% and profit after tax (PAT) rose by 79% between the financial year ending with March 31, 2026 and March 31, 2025.
Company Contact Information
8-A, National Highway, Dhuva, Taluka Wankaner Rajkot Gujarat
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| 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 | 245.00 |
| General Corporate Purposes | - |
Resources & Documents
Anchor Investors
Varmora Granito IPO - Quick Take
Varmora Granito has set a price band of Rs 140–Rs 148 per share for an issue size of Rs 708 crore. The stock listed with a 4.73% gain versus its issue price on September 29, 2026.
The issue is promoted by Bhavesh Vallabhdas Varmora, Hiren R Varmora, Pramodkumar Parsotambhai Patel with JM Financial Ltd. acting as lead manager. Net proceeds will primarily be used towards repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availe… (Rs 245 crore) and general Corporate Purposes.
At the upper end of the price band, the issue is priced at a post-issue P/E of 60.66x. On fundamentals, the company is posting revenue growth of 4.7%, a profit margin of 3.5%, return on equity of 6.8% in its most recent reported period. Listed peers in this segment include Kajaria Ceramics Limited (P/E 40.27x) and Somany Ceramics Limited (P/E 28.55x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is 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.
Frequently Asked Questions
Varmora Granito IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 0.7%. Of the 32 Mainboard IPOs we have tracked with a final GMP under 10%, 19 listed above, 6 flat and 7 below the issue price; Varmora Granito listed 4.7% above its issue price.
See the full Varmora Granito GMP history and trend, or learn how grey market premium works and how reliable it is.
Related IPO
Same sector or same stage as Varmora Granito
No comments yet. Be the first to share your opinion!