{"id":251095,"date":"2026-09-17T10:00:05","date_gmt":"2026-09-17T04:30:05","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=251095"},"modified":"2026-09-17T10:00:05","modified_gmt":"2026-09-17T04:30:05","slug":"varmora-granito-initial-public-offering-price-band-dates","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/","title":{"rendered":"Varmora Granito IPO Price Band Set at Rs 140-148, Listing Fixed for September 22"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Varmora Granito IPO price band Rs 140-148 per share. Listing on Dalal Street September 22. Fresh issue Rs 320 crore; OFS 2.62 crore shares (~Rs 388 crore) by Katsura Investments.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Varmora Granito IPO is set to hit Dalal Street on September 22, with the tile and ceramics maker&#8217;s price band fixed at Rs 140 to Rs 148 per share. The public issue combines a fresh issuance of equity shares worth Rs 320 crore with an offer for sale of 2.62 crore equity shares worth roughly Rs 388 crore by existing investor Katsura Investments. Varmora Granito manufactures ceramic and vitrified tiles out of nine facilities in Morbi, Gujarat, and sells through a network of exclusive and multi-brand outlets across India. Investors should review the company&#8217;s recent profit trend, which has been under some pressure even as revenue has grown, before applying.<\/p>\n<\/p><\/div>\n<p>Varmora Granito IPO is scheduled to open for subscription ahead of a listing on September 22, with the company confirming that the Varmora Granito IPO price band has been set at Rs 140 to Rs 148 per equity share.<\/p>\n<p>The Varmora Granito IPO is structured as a fresh issuance of shares worth Rs 320 crore combined with an offer for sale of 2.62 crore equity shares, valued at approximately Rs 388 crore, by existing investor Katsura Investments, taking the total issue size to roughly Rs 708 crore.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=varmora-granito-initial-public-offering-price-band-dates\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#What_Varmora_Granito_Does\" title=\"What Varmora Granito Does\">What Varmora Granito Does<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#Varmora_Granitos_Financials_Ahead_of_the_Listing\" title=\"Varmora Granito&#8217;s Financials Ahead of the Listing\">Varmora Granito&#8217;s Financials Ahead of the Listing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#Key_Dates_and_Structure_of_the_Issue\" title=\"Key Dates and Structure of the Issue\">Key Dates and Structure of the Issue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#What_is_the_price_band_for_the_Varmora_Granito_IPO\" title=\"What is the price band for the Varmora Granito IPO?\">What is the price band for the Varmora Granito IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#When_will_Varmora_Granito_shares_list_on_the_stock_exchanges\" title=\"When will Varmora Granito shares list on the stock exchanges?\">When will Varmora Granito shares list on the stock exchanges?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#How_much_is_Varmora_Granito_raising_through_the_fresh_issue\" title=\"How much is Varmora Granito raising through the fresh issue?\">How much is Varmora Granito raising through the fresh issue?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#Who_is_selling_shares_in_the_Varmora_Granito_offer_for_sale\" title=\"Who is selling shares in the Varmora Granito offer for sale?\">Who is selling shares in the Varmora Granito offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#What_does_Varmora_Granito_manufacture\" title=\"What does Varmora Granito manufacture?\">What does Varmora Granito manufacture?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/varmora-granito-initial-public-offering-price-band-dates\/#How_has_Varmora_Granitos_profit_trended_ahead_of_the_IPO\" title=\"How has Varmora Granito&#8217;s profit trended ahead of the IPO?\">How has Varmora Granito&#8217;s profit trended ahead of the IPO?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Varmora_Granito_Does\"><\/span><strong>What Varmora Granito Does<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Incorporated in 2003 and based in Morbi, Gujarat, one of India&#8217;s largest tile-manufacturing hubs, Varmora Granito makes glazed vitrified tiles, polished vitrified tiles and ceramic tiles across nine in-house production facilities. The company sells through a network of exclusive brand outlets and multi-brand outlets spanning hundreds of cities, alongside a B2B channel serving builders, contractors and government projects, and also exports to more than a hundred countries.<\/p>\n<p>The company has positioned itself around continuous product innovation, including being among the first in India to introduce digitally printed wall tiles and large-format slabs, and has partnered with Italian technology major SACMI to commercialise a marble-effect tile production process.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Explore Upcoming IPOs and New Listings on Univest<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Varmora_Granitos_Financials_Ahead_of_the_Listing\"><\/span><strong>Varmora Granito&#8217;s Financials Ahead of the Listing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Varmora Granito reported revenue of approximately Rs 1,492.68 crore for the year ended March 2025, up modestly from Rs 1,472.58 crore a year earlier. Profit, however, moved in the opposite direction, falling to around Rs 30.77 crore from Rs 44.94 crore the previous year, a detail prospective investors should weigh alongside the topline growth.<\/p>\n<p>Net proceeds from the fresh issue portion are earmarked primarily for debt repayment and general corporate purposes, a use of funds that, if executed well, could help ease some of the interest cost pressure that may have contributed to the recent profit decline.<\/p>\n<p style=\"font-style:italic;color:#000000;margin:14px 0;\">Also read &#8211; <a href=\"https:\/\/univest.in\/blogs\/steel-sector-stocks-to-buy-tata-steel-jsw-steel-jindal-steel-nomura\">Steel Stocks Rally as Nomura Backs Tata Steel, JSW Steel and Jindal Steel Buy Calls Amid 4-Year High Prices<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Dates_and_Structure_of_the_Issue\"><\/span><strong>Key Dates and Structure of the Issue<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With the Varmora Granito IPO price band confirmed at Rs 140-148 and listing fixed for September 22, investors now have the key parameters needed to evaluate the issue against the company&#8217;s fundamentals and peer valuations in the ceramics and tiles space.<\/p>\n<p>The offer-for-sale component means Katsura Investments, an existing shareholder, will be monetising part of its stake through the listing, a structure distinct from the fresh-issue portion, whose proceeds go directly to the company rather than the selling shareholder.<\/p>\n<p style=\"font-style:italic;color:#000000;margin:14px 0;\">Also read &#8211; <a href=\"https:\/\/univest.in\/blogs\/rbi-rate-hike-nomura-50-bps-q4-inflation\">RBI Rate Hike Alert: Nomura Sees 50 bps Increase in Q4 as Inflation Pressure Builds<\/a><\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"https:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track upcoming IPOs and new listings live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With its price band and listing date now confirmed, the Varmora Granito IPO gives investors a clear window to evaluate the tile maker against a backdrop of steady revenue growth but a recent dip in profitability. Investors should review the company&#8217;s financials and use of proceeds in detail, and should consult a SEBI-registered investment adviser before applying.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_price_band_for_the_Varmora_Granito_IPO\"><\/span><strong>What is the price band for the Varmora Granito IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band has been fixed at Rs 140 to Rs 148 per equity share.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_will_Varmora_Granito_shares_list_on_the_stock_exchanges\"><\/span><strong>When will Varmora Granito shares list on the stock exchanges?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company is scheduled to list on September 22.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_is_Varmora_Granito_raising_through_the_fresh_issue\"><\/span><strong>How much is Varmora Granito raising through the fresh issue?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The fresh issue component is worth Rs 320 crore, separate from the offer-for-sale portion.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_is_selling_shares_in_the_Varmora_Granito_offer_for_sale\"><\/span><strong>Who is selling shares in the Varmora Granito offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Existing investor Katsura Investments is selling 2.62 crore equity shares, valued at approximately Rs 388 crore, through the offer for sale.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Varmora_Granito_manufacture\"><\/span><strong>What does Varmora Granito manufacture?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company manufactures ceramic and vitrified tiles, including glazed and polished vitrified tiles, from nine facilities in Morbi, Gujarat.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Varmora_Granitos_profit_trended_ahead_of_the_IPO\"><\/span><strong>How has Varmora Granito&#8217;s profit trended ahead of the IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Profit declined to about Rs 30.77 crore for the year ended March 2025 from Rs 44.94 crore a year earlier, even as revenue grew modestly.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the price band for the Varmora Granito IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band has been fixed at Rs 140 to Rs 148 per equity share.\"}},{\"@type\":\"Question\",\"name\":\"When will Varmora Granito shares list on the stock 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