Vigor Plast India IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 4 September 2025 |
| IPO Closes on | 9 September 2025 |
| Allotment on | 10 September 2025 |
| Credit of shares on | 11 September 2025 |
| Tentative Listing on | 12 September 2025 |
Vigor Plast India IPO Condenses Verdict
Final Subscription Tally
| Size Rs. Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| Subscription Review: |
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About Vigor Plast India
Vigor Plast India Limited, incorporated in 2012, is engaged in the manufacturing and supply of CPVC and UPVC pipes and fittings. Its product portfolio caters to plumbing, sewage, agriculture, and industrial applications, covering a wide range of CPVC & UPVC plumbing systems, SWR pipes, and PVC agricultural pipes.
The company operates from its manufacturing facility and registered office at Dared, Gujarat, equipped with fully automated machinery, ensuring high-quality and efficient production. To strengthen distribution, it has set up five warehouses across Gujarat—Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka (operations at Dholka warehouse are yet to commence).
Product Range includes:
-
Pipes: CPVC Pipes, UPVC Pipes, Agriculture Pipes (Sel Fit), SWR Ring Fit & SWR Sel Fit Pipes
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Fittings & Ancillaries: CPVC & UPVC Fittings, Agriculture Fittings (Sel Fit), SWR Ring Fit & SWR Sel Fit Fittings, P.T.M.T. Taps, Garden Pipes, etc.
As of 31 December 2024, the company employed 83 permanent staff, supporting its expanding operations.
Vigor Plast India IPO Details
|
Sector: |
|
| IPO opens on | 4 September 2025 |
| IPO closes on | 9 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 25,00,000 Shares / Rs ? Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | ? Shares |
| Net offer to Public | ? Shares Rs. ? Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. ? |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | ? Shares |
| Listing will at | NSE SME |
How shares are being offered
|
Category |
Shares Offered |
| QIB | Not more than 50% of the Net Issue |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Net Issue |
Who are the Promoters of Vigor Plast India IPO?
The promoters hold 99.99% of the pre-IPO capital
What are the Objects of Vigor Plast India IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Repayment of certain secured borrowings availed by the Company Rs. 11.39 Crore
+ Funding capital expenditure towards the development and construction of new warehouse in Ahmedabad, Gujarat Rs. 3.86 Crore
+General Corporate purposes
Vigor Plast India IPO Lead Managers
Unistone Capital Pvt ltd
| Registered Office of the Company |
| Vigor Plast India Ltd. Survey No. 640/3, Behind Gujarat Gas CNG Pump Godown Zone, Lalpur Road, Dared, Village: Chela, Jamnagar, Gujarat, 361006 Email: info@vigorplastindia.com |
| Who is the Registrar to the IPO? Kfin Technologies ltd |
Vigor Plast India Financials Snapshot
| Period Ended | 31-Dec-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 40.19 | 35.89 | 20.09 | 20.57 |
| Total Income | 33.99 | 42.52 | 37.39 | 32.63 |
| Profit After Tax | 3.72 | 2.93 | 0.3 | 0.3 |
| Net Worth | 11.36 | 4.57 | 1.64 | 1.35 |
| Reserves and Surplus | 3.5 | 4.07 | 1.14 | 0.85 |
| Total Borrowing | 19.28 | 21.57 | 11.29 | 12.68 |
| Amount in Crore | ||||
Performance Indicators
| KPI | Values |
| ROE | 94.46% |
| ROCE | 19.58% |
| Debt/Equity | 4.72 |
| RoNW | 94.46% |
| PAT Margin | 6.90% |
How Vigor Plast India IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Vigor Plast India Limited | 59.39 | |
| Captain Pipes Ltd | 27.27 | 25.18 |
| Dutron Polymers Ltd. | 30.25 | 9.8 |
| Rex Pipes And Cables | 24.49 | 15.09 |
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Vigor Plast India IPO Review
by Paresh Gordhandas, CA & Research Analyst
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