Allotment

Vigor Plast India Limited’s IPO was a book-built issue aggregating ₹25.10 crore. The issue comprised a fresh issue of 0.25 crore equity shares amounting to ₹20.24 crore and an offer for sale of 0.06 crore equity shares aggregating ₹4.86 crore.
The IPO opened for subscription on September 4, 2025, and closed on September 9, 2025. The allotment was finalized on September 10, 2025, and the company’s shares were listed on the NSE SME platform on September 12, 2025.
The IPO price band was fixed at ₹81 per share. The lot size for an application was 1,600 shares. Retail investors were required to apply for a minimum of 2 lots (3,200 shares), amounting to an investment of ₹2,59,200 at the upper price band. For HNI investors, the minimum application size was 3 lots (4,800 shares), requiring an investment of ₹3,88,800.
Unistone Capital Pvt. Ltd. acted as the Book Running Lead Manager, while Kfin Technologies Ltd. served as the registrar. The market maker for the issue was Alacrity Securities Ltd.
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| IPO Date | 12 Sep |
| IPO Listing Date | 12 Sep |
| IPO Face Value | Rs.10 |
| IPO Price Range | ₹81.00 |
| IPO Issue Size | 30,99,200 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 78,52,500 shares |
| IPO Open Date | 4 Sep |
| IPO Close Date | 9 Sep |
| IPO Allotment (Tentative) | 10 Sep |
| Refunds | 11 Sep |
| Credit to Demat Account | 11 Sep |
| IPO Listing Date | 12 Sep |
| Category | Offer |
|---|---|
| QIB Shares Offered | 14,64,000 Shares |
| NII (HNI) Shares Offered | 4,46,400 Shares |
| Retail Shares Offered | 10,33,600 Shares |
Investors can bid for a minimum of 3,200 shares, with additional shares to be purchased in multiples of 1,600.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,59,200 |
| Retail (Max) | 2 | 3,200 | ₹2,59,200 |
| S-HNI (Min) | 3 | 4,800 | ₹3,88,800 |
| S-HNI (Max) | 7 | 11,200 | ₹9,07,200 |
| B-HNI (Min) | 8 | 12,800 | ₹10,36,800 |
Incorporated in 2012, Vigor Plast India Limited is engaged in the manufacturing and supply of CPVC and UPVC pipes and fittings. The company provides comprehensive piping solutions for plumbing, sewage, agriculture, and industrial applications.
Product Portfolio
Vigor Plast offers a wide range of products, including:
Pipes: CPVC and uPVC plumbing pipes, SWR Ring Fit and SWR Self Fit pipes, and PVC agricultural pipes.
Fittings and Accessories: CPVC and uPVC fittings, agricultural fittings (Self Fit), SWR Ring Fit and Self Fit fittings, as well as ancillary products such as PTMT taps and garden pipes.
Operations and Manufacturing
The company’s manufacturing facility and registered office, located in Dared, Gujarat, employ fully automated equipment to ensure consistent, high-quality production while streamlining operations and maintaining strict quality oversight.
Vigor Plast maintains five strategically located warehouses in Gujarat, at Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka, facilitating efficient distribution.
As of March 31, 2025, the company has a robust network of 440 distributors and dealers across 25 Indian states and territories, supported by flexible credit terms and an Android-based “Vigor India Plast” app for seamless order placement.
As of June 30, 2025, the company employed 81 personnel (excluding Board members) across functions such as Management, Purchase, Procurement, Marketing, Production, Quality Control, Packing, Dispatch, Sales, and Human Resources.
Competitive Strengths
Broad and versatile product portfolio tailored to diverse applications
Strong brand identity emphasizing quality and reliability
Modern, strategically located manufacturing setup enabling operational efficiency and cost-effectiveness
Certified quality through ISO standards and multiple IS/BIS certifications
| Assets | 40.51 | 35.89 | 20.09 |
| Total Income | 46.02 | 42.52 | 37.39 |
| Profit After Tax | 5.15 | 2.93 | 0.3 |
| EBITDA | 12.08 | 7.55 | 3.08 |
| NET Worth | 12.78 | 4.57 | 1.64 |
| Reserves and Surplus | 4.93 | 4.07 | 1.14 |
| Total Borrowing | 17.72 | 21.57 | 11.29 |
| ROE | 59.39% |
| ROCE | 28.24% |
| Debt/Equity | 1.39 |
| RoNW | 59.39% |
| PAT Margin | 11.30% |
| EBITDA Margin | 26.51% |
| Price to Book Value | 4.97 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 3.03 |
| 4 | Offer for Sale (OFS) | - |
Vigor Plast India Ltd. Address
Survey No. 640/3,
Behind Gujarat Gas CNG Pump Godown Zone,
Lalpur Road, Dared, Village: Chela,
Jamnagar, Gujarat, 361006
0288-2730912
info@vigorplastindia.com
https://www.vigorplastindia.com/
IPO Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
vpil.ipo@kfintech.com
https://ipostatus.kfintech.com/