IPO Details
Bidding Dates
04 Sept 25 - 09 Sept 25
Price Range ₹
77 - 81
Total Equity
₹ 25.10Cr
Lot Size
3200
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
04 Sept 2025
Offer end
09 Sept 2025
Allotment
10 Sept 2025
Refund initiation
11 Sept 2025
Demat transfer
11 Sept 2025
Listing
12 Sept 2025
Offer start
04 Sept 2025
Offer end
09 Sept 2025
Allotment
10 Sept 2025
Refund initiation
11 Sept 2025
Demat transfer
11 Sept 2025
Listing
12 Sept 2025
About Company
Incorporated in 2012, Vigor Plast India Limited is a Gujarat-based manufacturer and supplier of CPVC and UPVC pipes and fittings, catering to plumbing, sewage, agriculture, and industrial sectors. Its product portfolio includes CPVC and UPVC pipes and fittings, SWR pipes, PVC agricultural pipes, PTMT taps, and garden pipes. The company operates a fully automated manufacturing facility in Dared, Gujarat, ensuring efficient, high-quality production with streamlined operations. To strengthen its distribution network, it has set up five warehouses across Gujarat (Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka), though operations at Dholka are yet to commence. Through its upcoming IPO, the company aims to repay secured borrowings (₹113.93M), fund capital expenditure for a new warehouse in Ahmedabad (₹38.59M), and meet general corporate purposes. With a diversified product range, focus on quality, and strategically located facilities, Vigor Plast is positioning itself as a competitive player in India’s pipes and fittings industry.
Year Founded
30-01-2014
Promotor Details
Jayesh Premjibhai Kathiriya
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.99 | 70.05 |
| Share Capital | 7851500 | 7251500 |
Offer to Public
30,99,200.00 Cr
Project Details
- Repayment of certain secured borrowings availed by our Company - 113.93cr
- Funding capital expenditure towards the development and construction of new warehouse - 37.996cr
- General corporate purposes - 30.326cr
Objectives
- Repayment of certain secured borrowings availed by our Company
- Funding capital expenditure towards the development and construction of new warehouse in Ahmedabad, Gujarat
- General corporate purposes.
Highlights
- Offers a wide range of pipes, fittings, taps, and ancillary products catering to multiple industries (plumbing, sewage, agriculture, industrial).
- Focus on quality and reliability has built trust with customers.
- Manufacturing unit in Gujarat supported by multiple warehouses ensures cost and time efficiencies.
- Strong ROE (94.46%) and RoNW indicate effective capital utilization.
- Planned repayment of borrowings will reduce financial burden and improve balance sheet strength.
Challenges
- Debt-to-equity ratio of 4.72 signals over-leverage, increasing financial risk.
- Total income dropped from ₹42.52 Cr in FY24 to ₹33.99 Cr in 9M FY25, indicating volatility.
- Dholka warehouse still non-operational; new Ahmedabad facility will require capital and may face delays.
- Faces stiff competition from larger established players in the pipes and fittings market.
- Any fluctuation in raw material prices (PVC resins, chemicals) can impact margins.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 2,056.67 | 50.00 | 29.87 | 29.87 | 0.3983 |
| 2025 | 4,050.53 | 785.25 | 29.87 | 29.87 | 0.3983 |
| 2024 | 3,588.58 | 50.00 | 515.06 | 515.06 | 6.5592 |
| 2023 | 2,008.72 | 50.00 | 29.87 | 29.87 | 0.3983 |
