Vigor Plast India Ltd SME IPO launches Sept 4, 2025. Learn about price band (₹77–₹81), lot size (1,600 shares), IPO size (~₹25.1 cr), GMP, financials, and whether it’s a smart play.
Introduction
India’s SME platform is seeing a surge in promising IPOs, and Vigor Plast India Ltd has grabbed attention. A leading manufacturer of CPVC and UPVC plumbing pipes and fittings, Vigor Plast targets to raise approximately ₹25.10 crore via SME IPO. With a modest price band and strong financial growth, this IPO seems crafted for retail participation. Let’s explore the opportunity in detail.
IPO Snapshot at a Glance
| Parameter | Details |
|---|---|
| IPO Open Date | September 4, 2025 |
| IPO Close Date | September 9, 2025 |
| Price Band | ₹77 – ₹81 per share |
| Lot Size | 1,600 shares (₹1,23,200 at upper band) |
| IPO Size | ₹25.10 crore (30.99 lakh shares) |
| Fresh Issue | ~24.99 lakh shares |
| Offer-for-Sale (OFS) | ~6 lakh shares by promoters |
| Listing Exchange | NSE SME (expected listing on September 12, 2025) |
| Lead Manager | Unistone Capital Pvt. Ltd |
| Registrar | KFin Technologies Ltd |
About Vigor Plast India Ltd
- Founded in 2014, based in Jamnagar, Gujarat.
- Leading manufacturer of PVC, CPVC, UPVC pipes and fittings for plumbing, sewage, irrigation, and SWR systems.
- Operates from a 160,000 sq. ft. facility, with a modern lab and 5 warehouses across the state.
- Strong distribution network: Over 400 distributors across 25+ states.
Financial Health & Growth Trajectory
- FY 2023: Revenue ≈ ₹37.39 cr | PAT ≈ ₹0.30 cr
- FY 2024: Revenue ≈ ₹42.52 cr | PAT ≈ ₹2.93 cr
- FY 2025: Revenue ≈ ₹46.02 cr | PAT ≈ ₹5.15 cr
(76% YoY profit surge—solid growth for an SME)
Utilization of IPO Proceeds
- ₹11.39 cr: Repayment of secured borrowings
- ₹3.80 cr: Capital expenditure for a new warehouse in Ahmedabad
- Remaining funds: General corporate purposes
Strengths & Opportunities
- Consistent profitability and strong financial performance.
- Tech-enabled operations, quality assured (BIS-certified) products.
- Strategic Gujarat base gives logistical advantage and operational efficiency.
- SME IPOSpace attracts focused investor interest with potential for listing gains.
Risks & Considerations
- Low commercial scale—subject to intense competition in a price-sensitive market.
- Raw material volatility: PVC resin price spikes can pressure margins.
- High debt exposure—borrowed payout via IPO proceeds must deliver return.
What Investors Should Watch
- Grey Market Premium (GMP): Not yet widely available—but early traders may indicate listing price sentiment.
- Subscription response across categories (Retail, NII, QIB).
- Listing performance on NSE SME—IPO gains for retail investors could be attractive.
Conclusion
Vigor Plast India Ltd. presents a strong SME IPO story with positive financial trends, clear use of funds, and structural advantage. Priced accessibly under ₹1.3 lakh, retail investors may see early listing gains. However, long-term holders must weigh scalability, debt, and competitive pressure before deciding.
FAQs
Q1: What is the price band for Vigor Plast IPO?
A: ₹77 to ₹81 per share.
Q2: When will the IPO open and close?
A: Opens on September 4, 2025, and closes on September 9, 2025.
Q3: What is the lot size and investment amount?
A: Lot size is 1,600 shares; the minimum investment is ₹1,23,200 at upper band.
Q4: When will Vigor Plast list publicly?
A: Expected to list on NSE SME on September 12, 2025.
Q5: What are the company’s recent financials?
A: FY25 revenue ≈ ₹46.02 cr, PAT ≈ ₹5.15 cr—a strong growth trajectory.
Q6: What will IPO profits fund?
A: Funds will go towards debt repayment (₹11.39 cr), new warehouse capex (₹3.80 cr), and general corporate usage.
Q7: What are key risks of investing in this IPO?
A: Risks include competition, debt load, raw material price fluctuation, and SME-scale operational limitations.
Disclaimer
This blog is for educational purposes only and does not constitute financial advice. Consult a SEBI-registered financial advisor before investing.
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