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Varmora Granito has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The proposed IPO is a combination of fresh issue of shares worth Rs 400 crore and Offer for Sale (OFS) of 5.24 crore equity shares by promoters and an investor Kastura Investments. 

The company plans to use Rs 320 crore to repay its borrowings, Rs 280 crore to clear the borrowings of its subsidiaries -- Covertek Ceramica, Varmora Sanitarywares, and Simola Tiles -- and the remaining Rs 40 crore for general corporate purposes. JM Financial, Goldman Sachs (India) Securities and SBI Capital Markets have been appointed as lead managers to manage Varmora Granito's maiden public issue. 

Varmora Granito offers a wide range of high-quality, durable, and stylish tiles, including glazed vitrified, polished vitrified, and ceramic tiles.


Peers
Company Name CMP
Kajaria Ceramics 1104.55
Somany Ceramics 475.20
Cera Sanitaryware 5788.30
Asian Granito India 63.09
Pokarna 885.95
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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