Varmora Granito IPO Subscription
ListedUpdated 29 September 2026, 9:15 AM IST· Mainboard
Varmora Granito IPO subscription closed on 24 September 2026 at 1.60x overall by shares. QIB demand came in at 3.10x, NII at 0.94x, and retail at 1.02x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 25 September 2026. Listing date on NSE and BSE is 29 September 2026.
Varmora Granito IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 22 Sept 2026 | 0.00x | 0.05x | 0.21x | 0.12x |
| Day 2 - 23 Sept 2026 | 0.11x | 0.18x | 0.41x | 0.27x |
| Day 3 - 24 Sept 2026 | 3.10x | 0.94x | 1.02x | 1.60x |
Varmora Granito IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Varmora Granito IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail | 0.85x | Very high |
| SHNI (Rs 2L to Rs 10L) | 0.79x | Very high |
| BHNI (above Rs 10L) | 0.11x | Very high |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Varmora Granito IPO Allotment Status page from 25 September 2026 for your result.
Varmora Granito IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 148.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 141.60 Cr | Rs 438.41 Cr | 3.10x |
| FII | - | Rs 237.98 Cr | - |
| DFI | - | - | - |
| Mutual Funds | - | Rs 144.59 Cr | - |
| Other | - | Rs 55.84 Cr | - |
| NII | Rs 106.20 Cr | Rs 100.21 Cr | 0.94x |
| bNII (above Rs 10L) | Rs 70.80 Cr | Rs 66.87 Cr | 0.94x |
| Corporate | - | Rs 2.00 Cr | - |
| Individual | - | Rs 63.27 Cr | - |
| Other | - | Rs 1.60 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 35.40 Cr | Rs 33.34 Cr | 0.94x |
| Corporate | - | Rs 27.65 L | - |
| Individual | - | Rs 31.81 Cr | - |
| Other | - | Rs 1.25 Cr | - |
| Retail | Rs 247.81 Cr | Rs 252.97 Cr | 1.02x |
| Cut-off price | - | Rs 217.14 Cr | - |
| Fixed price | - | Rs 35.84 Cr | - |
| Total | Rs 495.61 Cr | Rs 791.59 Cr | 1.60x |
Varmora Granito IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 95,67,653 | 34 | 0.00x |
| FII | - | 20 | - |
| DFI | - | - | - |
| Mutual Funds | - | 8 | - |
| Other | - | 6 | - |
| NII | 5,075 | 1,711 | 0.34x |
| bNII (above Rs 10L) | 3,383 | 377 | 0.11x |
| Corporate | - | 11 | - |
| Individual | - | 354 | - |
| Other | - | 12 | - |
| sNII (Rs 2L to Rs 10L) | 1,692 | 1,334 | 0.79x |
| Corporate | - | 10 | - |
| Individual | - | 1,276 | - |
| Other | - | 48 | - |
| Retail | 1,65,778 | 1,41,257 | 0.85x |
| Cut-off price | - | 1,21,945 | - |
| Fixed price | - | 19,312 | - |
| Total | 97,38,506 | 1,43,002 | 0.01x |
What Do These Subscription Numbers Mean?
1.60x overall by shares means bids covered about 2 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 3.10x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (0.34x by applications). Split: SHNI 0.79x, BHNI 0.11x by applications. SHNI and BHNI allotment is by lottery.
null Retail allotment is also by lottery.
Varmora Granito IPO GMP After Subscription
GMP for Varmora Granito IPO stands at Rs 1.00 today, giving an estimated listing price of Rs 149.00 per share.
The GMP has moved lower from Rs 10.00 on 17 Sept 2026 to Rs 1.00 on 29 Sept 2026.
A subscription of 1.60x combined with a GMP of 0.68% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Varmora Granito IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Varmora Granito IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 22 September 2026 |
| IPO Close Date | 24 September 2026 |
| Allotment Date | 25 September 2026 |
| Refund Initiation | 26 September 2026 |
| Share Credit to Demat | 26 September 2026 |
| Listing Date | 29 September 2026 |
| Minimum Investment | Rs 14,948.00 |
| Lot Size | 101 shares |
About Varmora Granito IPO
Incorporated in 2003, Varmora Granito Limited is one of India's leading manufacturers and marketers of ceramic and vitrified floor and wall tiles, sanitaryware, and bath fittings. Operating out of the Morbi ceramic cluster in Gujarat with eight manufacturing facilities (plus a newly commissioned greenfield unit in Tezpur, Assam via its joint venture Allemby Ceramics), the company produces over 3,500 active SKUs across formats including Glazed Vitrified Tiles (GVT), Polished Vitrified Tiles (PVT), and advanced technical surfaces engineered through Integrated Stone Technology (IST). Varmora operates an extensive nationwide distribution footprint comprising 305 Exclusive Brand Outlets (EBOs) and 2,758 Multi-Brand Outlets (MBOs) spanning 949 cities across 27 states and UTs in India, alongside export operations across more than 100 countries globally.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
Retail - Retail Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Varmora Granito IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Varmora Granito IPO Details
Issue size, price, financials, and company info
Varmora Granito IPO GMP
Live grey market premium and listing estimate
Varmora Granito IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Varmora Granito IPO Allotment
Allotment date, chances, and check by PAN
Varmora Granito IPO Review
SWOT, strengths, risks, and IPO review
Varmora Granito IPO FAQ
Common questions on dates, GMP, and allotment
Varmora Granito IPO Registrar
Registrar website and how to check allotment
Varmora Granito IPO Timeline
Open, close, allotment, and listing dates
Varmora Granito IPO News
Updates, blogs, and latest IPO news
Varmora Granito IPO Subscription FAQs
What is Varmora Granito IPO subscription status today?
Varmora Granito IPO subscription closed on 24 September 2026 with overall subscription of 1.60x (by shares) as of 10 October 2026, 1:47 AM IST. QIB 3.10x, NII 0.34x, Retail 0.85x.
What is the overall subscription of Varmora Granito IPO?
Varmora Granito IPO is subscribed 1.60x overall by shares at close on 24 September 2026. QIB 3.10x, NII 0.34x, and Retail 0.85x.
What is Varmora Granito IPO QIB subscription?
Varmora Granito IPO QIB (Qualified Institutional Buyers) subscription is 3.10x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Varmora Granito IPO Retail subscription?
Varmora Granito IPO Retail subscription is 0.85x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Varmora Granito IPO NII, SHNI, and BHNI subscription?
Varmora Granito IPO NII subscription is 0.34x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 0.79x and BHNI (above Rs 10L) at 0.11x.
What are Varmora Granito IPO retail allotment chances?
Varmora Granito IPO retail share subscription is 1.02x. Application data is needed for exact lottery chances.
What are Varmora Granito IPO SHNI allotment chances?
Varmora Granito IPO SHNI allotment chances depend on final application subscription. Allotment is by lottery when oversubscribed.
What are Varmora Granito IPO BHNI allotment chances?
Varmora Granito IPO BHNI allotment chances depend on final application subscription. Allotment is by lottery when oversubscribed.
When is Varmora Granito IPO allotment date?
Varmora Granito IPO allotment date is 25 September 2026. Check Varmora Granito IPO Allotment Status on IPOwiz from that day using your PAN.
When does Varmora Granito IPO subscription close?
Varmora Granito IPO subscription closed on 24 September 2026. No new applications are accepted after the close.
What is Varmora Granito IPO GMP today?
Varmora Granito IPO GMP is ₹1 today (+0.68% over issue price ₹148). See live GMP on the Varmora Granito IPO GMP Today page.
What is Varmora Granito IPO issue price and lot size?
Varmora Granito IPO issue price is ₹148 per share. Lot size is 101 shares. Minimum investment is ₹14,948 per lot. Issue size: ₹708.02 Cr.
When is Varmora Granito IPO listing date?
Varmora Granito IPO listing date is 29 September 2026 on NSE and BSE. Allotment is on 25 September 2026.
How does subscription affect Varmora Granito IPO allotment?
In Varmora Granito IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 1.60x overall, competition is moderate.
For allotment results from 25 September 2026, visit the Varmora Granito IPO Allotment Status page. For listing day updates on 29 September 2026, download the IPOwiz App.
Sources
We match Varmora Granito IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.