Vigor Plast IPO...
29 Aug, 2025
Vigor Plast IPO
Vigor Plast IPO is set to open on Sep 4, 2025 and close on Sep 9, 2025 at a price band set between ₹77.00 to ₹81.00 per share with a face value of ₹10 per share. Vigor Plast IPO has an issue size of ₹25.10 crores through a combination of fresh issue of 0.25 crore shares estimated to ₹20.24 crores and offer for sale (OFS) of 0.06 crore shares aggregating to ₹4.86 crores. The lot size is 1,600 with category allocation of equal to or less than 50% for QIB, equal to or more than 35% for Retail Shares and equal to or more than 15% for NII. As per the tentative listing dates, the basis of allotment will be made on Sep 10, 2025, refunds and credit to account on Sep 11, 2025 & listing on NSE SME on Sep 12, 2025.
Company Background
Vigor Plast India Limited, registered as a Private Limited company in 2014, is a Gujarat-based manufacturer & supply company of CPVC and UPVC pipes and fittings. The company manufactures CPVC, UPVC, SWR, and agricultural pipes and fittings, serving various industries through its facilities and warehouses across India. Vigor Plast, with BIS and ISO certifications, aims to be a leader in the plumbing and fitting business.
Operations & Product Range
Vigor Plast India Limited manufactures a wide range of plumbing pipes and fittings products ranging from 15 mm in uPVC & CPVC plumbing pipes & fittings. It also has a range of PVC pipes that range between 20 mm and 200 mm & PVC Fittings 20 mm to 160 mm. The SWR Ring Fit pipe and fittings range is available in sizes from 75 mm to 160 mm, while the SWR SEL Fit pipe range covers sizes from 40 mm to 160 mm. Additionally, the SWR SEL Fit fittings are offered in sizes ranging from 75 mm to 160 mm. The company employs 81 personnel, excluding Board members, who are involved across various departments, including Management, Purchase, Procurement, Marketing, Production, Quality Control, Packing, Dispatch, Sales, and Human Resources.
Facility & Production
Vigor Plast India Limited operates a modern manufacturing facility in Jamnagar, Gujarat has advanced machinery to support the production of a wide range of high-quality plastic piping systems. Their product line includes uPVC, CPVC, SWR, and PVC pipes and fittings, with size ranges spanning from 15 mm to 200 mm, depending on the product. To maintain consistent quality, the company has an in-house, well-equipped laboratory where detailed testing is conducted at every stage, from raw materials to finished goods.
Brands & Market Presence
Vigor Plast India Limited markets its entire range of uPVC, CPVC, SWR, and PVC pipes and fittings under its registered brand name “VIGOR.” The company has grown into a trusted manufacturer, exporter, and supplier of piping solutions for plumbing, irrigation, and SWR systems, serving both rural and urban markets across India. To support its operations and ensure timely distribution, Vigor Plast has established five strategically located warehouses in Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka. As per recent data, the company has built a strong sales and distribution network comprising over 440 distributors and dealers, covering 25 states and union territories.
Revenue Channels
- Generates revenue through the sale of PVC, uPVC, CPVC, and SWR pipes and fittings under the VIGOR brand.
- Serves diverse sectors including plumbing, agriculture, industrial, and SWR drainage systems.
- Supplies products to both rural and urban markets across 25 Indian states and union territories.
- Operates a strong domestic distribution network of over 440 dealers and distributors.
- Also earns export revenue, with shipments made to international markets like Nepal.
Management & Shareholding
Promoters & shareholding
The promoters of Vigor Plast India include Jayesh Premjibhai Kathiriya, Rajesh Premjibhai Kathiriya, Premjibhai Dayabhai Kathiria, Jashvantiben Rajeshbhai Kathiriya, and Nitaben Jayeshbhai Kathiriya. All the current promoters hold 100% of the pre-IPO capital of the company together.
Board Members
The board of directors of Vigor Plast IPO is led by Jayesh Premjibhai Kathiriya, the chairman and managing director, Rajesh Premjibhai Kathiriya as whole-time director and Premjibhai Dayabhai Kathiriya, Jashvantiben Rajeshbhai Kathiriya and Nitaben Jayeshbhai Kathiriya as directors. The board also includes independent directors Nimesh Naginbhai Rajput, Sumit Rameshbhai Gosrani & Mahesh Busa. Key management personnel include Pintu Tulsibhai Jadav as the chief financial officer and Ajay Kumar Agrawal as the company secretary & compliance officer.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Vigor Plast IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Vigor Plast IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 4, 2025 to September 9, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹77 to ₹81 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 30,99,200 shares (aggregating up to ₹25.10 Cr) |
| Reserved for Market Maker | 1,55,200 shares (aggregating up to ₹1.26 Cr) Alacrity Securities Ltd. |
| Fresh Issue (Ex Market Maker) | 23,44,000 shares (aggregating up to ₹18.99 Cr) |
| Offer for Sale | 6,00,000 shares of ₹10 (aggregating up to ₹4.86 Cr) |
| Net Offered to Public | 29,44,000 shares (aggregating up to ₹23.85 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 78,52,500 shares |
| Share Holding Post Issue | 1,03,51,700 shares |
Vigor Plast IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Thu, Sep 4, 2025 |
| IPO Close Date | Tue, Sep 9, 2025 |
| Tentative Allotment | Wed, Sep 10, 2025 |
| Initiation of Refunds | Thu, Sep 11, 2025 |
| Credit of Shares to Demat | Thu, Sep 11, 2025 |
| Tentative Listing Date | Fri, Sep 12, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 9, 2025 |
Vigor Plast IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,59,200 |
| Individual investors (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 |
Vigor Plast IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 100.00% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- ● Vigor Plast IPO offers a broad and versatile product portfolio designed to meet the varied needs of sectors such as plumbing, agriculture, and infrastructure, ensuring relevance across both residential and industrial applications.
- ● Vigor Plast IPO offers a broad and versatile product portfolio designed to meet the varied needs of sectors such as plumbing, agriculture, and infrastructure, ensuring relevance across both residential and industrial applications. ● The company has built a strong and trusted brand identity over the years, known for consistently delivering high-quality, durable, and reliable piping solutions under its brand name.
- ● Its manufacturing facility, located in Jamnagar, Gujarat, is equipped with modern machinery and optimized for efficient production, cost management, and smooth logistical operations across India.
- ● Vigor’s commitment to quality is assured by industry-recognized certifications, including ISO 9001:2015 and multiple IS/BIS standards, ensuring benchmarks for safety and performance.
Vigor Plast IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 40.51 | 46.02 | 5.15 | 12.78 | 17.72 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 36 | 43 | 3 | 5 | 21.57 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 20.09 | 37.39 | 0.3 | 1.64 | 11.29 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 59.39% |
| ROCE | 28.24% |
| Debt/Equity | 1.39 |
| RoNW | 59.39% |
| PAT Margin | 11.30% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | EBITDA Margin | 26.51% |
| P/E (x) | Price to Book Value | 4.97 |
Objectives of Vigor Plast IPO
- The company plans to utilize ₹11.39 crores to repay certain secured borrowings, helping reduce its debt burden and improve overall financial stability.
- An allocation of ₹3.80 crores is earmarked for capital expenditure towards the development and construction of a new warehouse facility in Ahmedabad, Gujarat, to strengthen its distribution network and storage capacity.
- A portion of the IPO proceeds will be used for general corporate purposes, supporting the company’s ongoing operational needs, strategic initiatives, and future growth opportunities.
Conclusion
The Vigor Plast IPO is a great chance to invest in a trusted and growing name in the plastic pipes and fittings industry. With a strong product range, quality certifications, and a wide distribution network, the company is set for steady growth. The funds raised will help reduce debt and boost its warehousing capacity, making operations smoother. Overall, it’s a solid opportunity for investors looking to be part of a company that’s expanding thoughtfully in a growing market.
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Frequently asked Questions (FAQs )
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1. What products does Vigor Plast manufacture?
Vigor Plast produces a wide range of CPVC, uPVC, SWR, and PVC pipes and fittings catering to plumbing, agriculture, and drainage needs.
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2. Who are the promoters of Vigor Plast India Limited?
The promoters include Jayesh Premjibhai Kathiriya, Rajesh Premjibhai Kathiriya, Premjibhai Dayabhai Kathiriya, Jashvantiben Rajeshbhai Kathiriya, and Nitaben Jayeshbhai Kathiriya.
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3. What is the issue size and composition of the Vigor Plast IPO?
The IPO size is ₹25.10 crores, consisting of a fresh issue of 0.25 crore shares and an offer-for-sale of 0.06 crore shares.
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4. How is the IPO subscription divided among investor categories?
The allocation includes up to 50% for Qualified Institutional Buyers (QIB), at least 35% for Retail Investors, and at least 15% for Non-Institutional Investors (NII).ccc
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