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Varmora Granito opens ₹708 crore IPO, with fresh proceeds focused on debt reduction
Indian tile maker Varmora Granito opened its Rs 708.02 crore IPO, with fresh proceeds largely earmarked for debt reduction. The company operates eight Morbi facilities and sells through 305 exclusive outlets and 2,758 multi-brand outlets across India and overseas.
- Offer for sale₹388.02 crore
- Fresh issue₹320 crore
Reported figures
From the report. Source details below
| Fresh issue: | Rs 320 crore |
|---|---|
| Offer for sale: | Rs 388.02 crore |
| Price band: | Rs 140-148 per share |
| Debt repayment allocation: | about Rs 245 crore |
| FY26 revenue: | Rs 1,562.53 crore |
| FY26 PAT: | Rs 55.09 crore |
| FY26 EBITDA: | Rs 221.56 crore |
| FY26 borrowings: | Rs 357.95 crore |
| GMP: | Rs 9 per share |
The source
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