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Varmora Granito IPO Booked 27% on Day 2; Check Latest GMP
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Moneycontrol•23-09-2026, 17:17
Varmora Granito IPO Booked 27% on Day 2; Check Latest GMP
- •Varmora Granito's IPO saw a subdued response on its second day, with a 27% subscription rate by 5:00 pm on September 23.
- •Retail investors led the demand, subscribing to 40% of their allocated portion, while non-institutional investors subscribed 17%.
- •The company's shares were commanding a grey market premium (GMP) of 1.25% on the morning of September 23.
- •The three-day issue, priced between Rs 140-148 per share, closes on September 24.
- •Varmora Granito aims to use Rs 245 crore from the fresh issue for debt repayment, out of the total Rs 320 crore fresh issue component.
Key Questions Answered
The Rs 708.02 crore IPO of Varmora Granito was booked 27 percent on the second day of bidding. The issue features a price band of Rs 140 to Rs 148 per share and remains open for subscription until September 24.
Out of the Rs 320 crore fresh issue component, Varmora Granito intends to allocate Rs 245 crore toward the repayment of debt. The remaining funds from the proceeds will be utilized for general corporate purposes.
The allotment of shares for the Varmora Granito IPO is expected to be finalized on September 25, 2026. The equity shares are scheduled to list on both the NSE and BSE on September 29, 2026.
