Vigor Plast IPO GMP, Date, Price Band & Review

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.