Vigor Plast India IPO Sees Modest Investor Demand on Opening Day

Mumbai, September 4: The Initial Public Offering (IPO) of Vigor Plast India Limited opened today but saw muted demand from investors. Only 1 application was received from Qualified Institutional Buyers (QIBs), with 2,46,400 shares bid for. The Non-Institutional Investors (NIIs) section saw 10 applications for 1,12,000 shares, while 55 applications were received from Retail Individual Investors (RIIs) as they bid for 1,76,000 shares. Overall, total shares bid for were 5,34,400, with total applications of 66, as of 4:15 PM.

Price Band Of ₹77 – ₹81 Per Share With 1,600 Shares As Lot Size

Vigor Plast India IPO opened today and will end on September 9. The company has set the price band at ₹77 – ₹81 per share, with 1,600 shares as the lot size. With this, the minimum investment comes at ₹1,29,600. The issue is for 30.99 lakh shares, aggregating to ₹25 crore. This includes a fresh issue of 24.99 lakh shares and an offer for sale of 6 lakh shares being sold by the company’s promoters. Unistone Capital Private Limited is the Book Running Lead Manager while KFin Technologies Limited is the registrar.

For FY25, the company reported revenue of ₹4,601.81 lakh and net profit of ₹515.06 lakh, reflecting strong growth momentum.

Allocation Of 8,73,600 Shares To Anchor Investors

Ahead of the IPO, the company allocated a total of 8,73,600 shares to anchor investors at a price of ₹81 per share, valued at ₹7.08 crore. Key investors included Silver Stride India Global Fund, Nova Global Opportunities Fund PCC, Venus Investments VCC – Venus Stellar Fund, Aarth AIF Growth Fund, and Smart Horizon Opportunity Fund.

Vigor Plast India Limited manufactures PVC, uPVC, and cPVC pipes and fittings for plumbing, irrigation, and SWR applications. The company was founded in 2014 and is based in Jamnagar, Gujarat.

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