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  5. Varmora Granito IPO Day 1: Check subscription status, price band, lot size and key dates

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Varmora Granito IPO Day 1: Check subscription status, price band, lot size and key dates

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

3 min read | Updated on September 22, 2026, 10:43 IST

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SUMMARY

Varmora Granito IPO is a mix of a fresh issuance of 2.16 crore shares worth ₹320 crore and an offer for sale (OFS) of 2.62 crore shares totalling ₹388.02 crore by existing shareholder Katsura Investments.

Varmora Granito is engaged in making ceramic and vitrified tiles, including glazed vitrified, polished vitrified and ceramic tiles. | Image: Varmora.com

Varmora Granito is engaged in making ceramic and vitrified tiles, including glazed vitrified, polished vitrified and ceramic tiles. | Image: Varmora.com

Tiles and bathware maker Varmora Granito Ltd's ₹708.02 crore initial public offering will hit the primary market on Tuesday, September 22. The issue will end on September 24. The price band has been set at ₹140 to ₹148 per share.

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The initial share sale is a mix of a fresh issuance of 2.16 crore shares worth ₹320 crore and an offer for sale (OFS) of 2.62 crore shares totalling ₹388.02 crore by existing shareholder Katsura Investments.

The funds raised will be used for debt repayment of the company and its wholly-owned subsidiaries, Covertek Ceramica Private Limited and Varmora Sanitarywares Private Limited, and general corporate purposes.

"Our company also expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of our company’s visibility and our brand name among our existing and potential customers and creation of a public market for our equity shares in India," the firm said in its red herring prospectus.

Varmora Granito IPO Day 1: Subscription status

The subscription details for the first day of the issue will be available post 10 am.

NSE IPO allotment: How to check status online on MUFG Intime India, National Stock Exchange, BSE

Varmora Granito IPO: Lot size

Retail investors can apply for a minimum of 101 shares and in multiples thereafter.

Before the IPO, the company collected ₹212.4 crore from anchor investors, including Goldman Sachs, ICICI Prudential Mutual Fund, Bandhan Mutual Fund, Turnaround Opportunities Fund, India Acorn Fund, Motilal Oswal Mutual Fund, Bharti AXA Life Insurance Company, Societe Generale, JM Financial Mutual Fund, and BNP Paribas Financial Markets, among others.

The company allotted 1.43 crore shares to 17 funds at ₹148 per share, the upper end of the price band.

Varmora Granito IPO: Listing date and time

EventDate
Subscription periodSeptember 22 to September 24
Basis of allotmentSeptember 25
Initiation of RefundsSeptember 28
Credit of Shares to DematSeptember 28
Listing dateSeptember 29

Varmora Granito is engaged in making ceramic and vitrified tiles, including glazed vitrified, polished vitrified and ceramic tiles. It operates eight manufacturing units in the Morbi cluster of Gujarat, with 81.72% of its revenue in the financial year 2025-26 generated from in-house manufactured products.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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