Vigor Plast India IPO subscribed 24% so far on day 1; what you need to know

Vigor Plast India IPO: PVC pipes and fittings manufacturer Vigor Plast India's initial public offering has been booked 24% so far on the first day of subscription on Thursday, September 4.

The IPO has secured bids for 5,34,400 shares as against 22,25,600 shares on offer, according to the data available on the National Stock Exchange (NSE) website until 3:45 pm.

Vigor Plast India IPO: A look at price band, lot size and more

The ₹25.10 crore initial share sale, which will conclude on September 9, comprises a fresh issue of 24.99 lakh shares valued at ₹20.24 crore and an offer for sale (OFS) of 6 lakh shares aggregating to ₹4.86 crore.

The company has set a price band at ₹77 to ₹81 per share, and a lot consists of 1,600 shares. The least investment for individual investors is 3,200 shares or two lots.

Proceeds from the fresh issue to the tune of ₹11.39 crore will be utilised to repay debt, ₹3.8 crore for funding the construction of a new warehouse in Ahmedabad, Gujarat, and the remainder for general corporate purposes.

Jayesh Premjibhai Kathiriya, Chairman & MD of Vigor Plast India, said, "The IPO proceeds will help us strengthen our financial position and accelerate capacity expansion, including our upcoming Ahmedabad warehouse."

Vigor Plast India IPO key dates

Vigor Plast India, incorporated in 2012, makes and supplies CPVC and UPVC pipes and fittings.

On the financial front, the company posted a revenue of ₹45.57 crore and a profit after tax of ₹5.15 crore in FY25.

Unistone Capital is the IPO's lone book-running lead manager, while KFin Technologies is the registrar.