Stories
Varmora Granito Shares Debut with Nearly 5% Premium on NSE, Outperforming Expectations
C
CNBC TV18•29-09-2026, 09:57
Varmora Granito Shares Debut with Nearly 5% Premium on NSE, Outperforming Expectations
- •Varmora Granito shares listed at ’155 on the NSE, a 4.73% premium over the IPO price of ’148, and at ’152 on the BSE, a 2.70% premium.
- •The company's market capitalization reached ’3,435.38 crore after listing.
- •The IPO, open from September 22-24, was subscribed 1.58 times, with the QIB portion subscribed 3.16 times and the RII portion fully subscribed.
- •Varmora Granito raised ’708 crore through the IPO, which included a fresh issue of ’320 crore and an offer-for-sale of 2.62 crore shares.
- •The Gujarat-based manufacturer produces ceramic and vitrified tiles, bathware, and related products under the Varmora brand, with a focus on premium products.
Key Questions Answered
Varmora Granito shares listed at a nearly 5% premium over the initial public offering price on the National Stock Exchange and the Bombay Stock Exchange. The stock debuted at ₹155 apiece on the NSE, marking a 4.73% premium over the issue price of ₹148, and opened at ₹152 per share on the BSE.
The initial public offering of Varmora Granito was open for subscription from September 22 to September 24 and received bids for 5.34 crore shares against 3.39 crore shares on offer, resulting in an overall subscription of 1.58 times.
Varmora Granito plans to allocate ₹245 crore of the fresh issue proceeds to repay or prepay borrowings of the company and its wholly owned subsidiaries, with the remaining funds designated for general corporate purposes.
