Varmora Granito Limited will open its initial public offering on Tuesday, September 22, 2026, with bidding closing on Thursday, September 24. The ceramic tile manufacturer has fixed a price band of ₹140 to ₹148 per equity share, each with a face value of ₹2. Anchor investor bidding is scheduled for Monday, September 21.
The IPO comprises two components: a fresh issue of equity shares aggregating up to ₹3,200 million, and an offer for sale of up to 26,217,634 shares by existing investor Katsura Investments. The company proposes to list on both BSE and NSE, with NSE designated as the primary exchange.
Retail investors must bid for a minimum lot of 101 shares, with subsequent bids in multiples of 101. At the cap price of ₹148, the minimum application amount works out to approximately ₹14,948.
Under the book-building structure, up to 50 per cent of the offer is reserved for qualified institutional buyers, at least 15 per cent for non-institutional investors, and at least 35 per cent for retail individual investors. All non-anchor investors must participate through the ASBA mechanism.
JM Financial Limited, Goldman Sachs (India) Securities Private Limited, and SBI Capital Markets Limited are managing the issue as book running lead managers.