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Varmora Granito, a tiles and bathware marker, has filed DRHP with SEBI for a ₹400 Cr IPO.
Rajkot-based Varmora Granito makes high-quality tiles and bathware, offering products like glazed vitrified, polished vitrified, and ceramic tiles.
The deets: the proposed IPO includes a fresh issue worth ₹400 crore and an OFS of 5.24 crore shares by promoters and investor Kastura Investments.
Zoom out: India’s ceramics and tiles sector has been growing steadily, fuelled by housing demand, infrastructure upgrades, and exports. With a strong domestic retail network and focus on premium finishes, Varmora’s IPO adds to the list of building-materials players tapping capital markets to fund growth.
