Varmora Granito IPO Day 2: Subscription Status on 23 September 2026

The issue has entered Day 2 of its three day bidding window, which opened on 22 September and closes on 24 September 2026. Varmora Granito Limited, a ceramic and vitrified tiles manufacturer, is raising about Rs 708.02 crore through a combination of fresh issue and offer for sale, and the shares are proposed to list on both NSE and BSE.

Day 1 bidding for the issue stayed thin, with the issue subscribed only 0.11 times overall by the close, led narrowly by retail while QIB had not yet engaged. With two sessions still remaining, including the 24 September close, there is time for demand to build, particularly among institutional investors who often bid heavily in the closing hours of a large mainboard issue.

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Varmora Granito IPO Details

The table below sets out the key parameters of the issue.

Open Date	22 September 2026
Close Date	24 September 2026
Price Band	Rs 140 to Rs 148 per share
Lot Size	101 shares
Issue Size	Rs 708.02 crore
Issue Type	Book Built Issue
Listing At	NSE and BSE
Allotment Date	25 September 2026
Listing Date	29 September 2026

Varmora Granito IPO Subscription Status Day 2

Category wise bidding for the issue is updated through the trading session on NSE and BSE. The table below shows the position at the close of Day 1 along with the overall figure recorded so far on Day 2.

Investor Category	Subscription at Day 1 Close (22 Sep, 4:54 PM)	Overall Subscription So Far (Day 2, 23 Sep)
Qualified Institutional Buyers (QIB)	0.00 times	Updating
Non-Institutional Investors (NII)	0.05 times	Updating
Retail Individual Investors	0.20 times	Updating
Overall	0.11 times	Updating through the session

Retail investors led the issue through Day 1, though demand across all categories stayed well below full subscription. Investors should treat the Day 2 figures as provisional since bidding remains open until the 24 September close.

Track Subscription Status for the issue on the Univest Screener

How to Apply for the Varmora Granito IPO

1. Open a Demat and trading account with a SEBI-registered broker such as Univest if you do not already have one.
2. Select the issue on your broker app or net banking platform and enter your bid quantity and price within the Rs 140 to Rs 148 band, in multiples of 101 shares.
3. Submit the application through the UPI-based ASBA method so the bid amount is blocked rather than debited immediately.
4. Approve the UPI mandate on your phone before the daily cut off time, keeping in mind the issue closes on 24 September.

Download the Univest iOS App or Univest Android App to apply for the issue before the 24 September close.

Grey market premium (GMP) is an unofficial, unregulated indicator for the issue that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.

Conclusion

The issue has had a slow start, running at only 0.11 times through Day 1, with two sessions still remaining before the 24 September close for demand to build. Investors considering the issue should review the company financials and risk factors in the RHP on nseindia.com and bseindia.com, and apply only after independent due diligence.

FAQs

What is the Varmora Granito IPO subscription status on Day 2?

Ans. The issue closed Day 1 subscribed only 0.11 times overall, with retail at 0.20 times, NII at 0.05 times, and QIB at 0.00 times, and figures for Day 2, 23 September 2026, are updating through today's session on NSE and BSE.

When does the Varmora Granito IPO close?

Ans. The issue closes for subscription on 24 September 2026, having opened on 22 September 2026.

What is the Varmora Granito IPO price band and lot size?

Ans. The issue price band is Rs 140 to Rs 148 per share, with a lot size of 101 shares, taking the minimum retail investment to about Rs 14,948 at the upper band.

Why has the Varmora Granito IPO seen low subscription so far?

Ans. Subscription for the issue has stayed thin through Day 1, which is common for large mainboard issues, since institutional and larger investor bids typically concentrate closer to the 24 September closing day.

What is the Varmora Granito IPO GMP?

Ans. Grey market premium (GMP) is an unofficial, unregulated indicator for the issue that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.

How do I apply for the Varmora Granito IPO?

Ans. You can apply for the issue through your SEBI-registered broker or UPI-enabled banking app using the ASBA method, entering your bid in multiples of 101 shares within the Rs 140 to Rs 148 band and approving the UPI mandate before the daily cut off.

When will the Varmora Granito IPO be allotted and listed?

Ans. The issue allotment is expected to be finalised on 25 September 2026, with listing on both NSE and BSE tentatively scheduled for 29 September 2026.

Which category led the Varmora Granito IPO on Day 1?

Ans. Retail investors led the issue on Day 1, subscribing their reserved portion 0.20 times, ahead of non-institutional investors at 0.05 times, while qualified institutional buyers had not placed any bids.

What is the issue structure of the Varmora Granito IPO?

Ans. The issue is worth about Rs 708.02 crore, comprising a fresh issue of about 2.16 crore shares worth Rs 320 crore and an offer for sale of about 2.62 crore shares worth Rs 388.02 crore by selling shareholder Katsura Investments.

What does Varmora Granito Limited do?

Ans. Varmora Granito Limited manufactures and markets ceramic and vitrified tiles, including Glazed Vitrified Tiles and Polished Vitrified Tiles, alongside sanitaryware, faucets, bath fittings and tile adhesives, distributed pan-India.