Stories
Varmora Granito Raises Rs 212 Crore via Anchor Book, Rs 708-Crore IPO Opens Sept 22
- •Varmora Granito secured Rs 212.4 crore from anchor investors on September 21, ahead of its IPO launch.
- •The Rs 708-crore IPO, priced at Rs 140-148 per share, includes a fresh issue of Rs 320 crore and an offer-for-sale of Rs 388 crore.
- •The public subscription window for the IPO is from September 22 to September 24.
- •Thirteen institutional investors, including major domestic mutual funds like ICICI Prudential AMC and Motilal Oswal AMC, participated in the anchor book.
- •Proceeds from the fresh issue will primarily be used to repay Rs 245 crore of the company's debt, with the remainder for general corporate purposes.
Key Questions Answered
Varmora Granito is aiming to raise up to Rs 708 crore through its initial public offering at an upper price band of Rs 140 to Rs 148 per share. The public subscription opens on September 22 and closes on September 24.
The company raised Rs 212.4 crore by allotting 1.43 crore equity shares to 13 institutional investors at Rs 148 per share. Participants included domestic mutual funds like ICICI Prudential AMC and Bandhan Mutual Fund, alongside global firms such as Goldman Sachs and Societe Generale.
Varmora Granito intends to use Rs 245 crore of the net fresh issue proceeds to repay outstanding borrowings totaling Rs 350.6 crore for the company and its subsidiaries as of May 2026. The remaining funds will be allocated for general corporate purposes.
