Vigor Plast India's Rs 25 cr IPO to open on Thursday

New Delhi, Sep 3 (PTI) Vigor Plast India, a manufacturer of PVC pipes and fittings, on Wednesday said its Rs 25.10 crore initial share sale will open for public subscription on September 4.

The initial public offering (IPO) will conclude on September 9, and the company's shares are proposed to be listed on the NSE's SME platform Emerge, Vigor Plast India said in a statement.

The IPO comprises a fresh issue of 24.99 lakh equity shares with a face value of Rs 10 each and an offer for sale of 6 lakh shares.

The company has fixed the price band at Rs 77-81 per share. At the upper end of the price band, the company is going to fetch Rs 25.10 crore from the public issue.

Proceeds from the fresh issue to the tune of Rs 11.39 crore will be used by the company to repay debt, Rs 3.8 crore for funding the construction of a new warehouse in Ahmedabad, Gujarat and the balance for general corporate purposes.

Jayesh Premjibhai Kathiriya, Chairman & MD of Vigor Plast India, said, "The IPO proceeds will help us strengthen our financial position and accelerate capacity expansion, including our upcoming Ahmedabad warehouse".

On the financial front, the company reported a revenue of Rs 45.57 crore and profit after tax of Rs 5.15 crore in FY25.

Unistone Capital is the sole book-running lead manager, while Kfin Technologies is the registrar for the IPO. PTI HG HG BAL BAL