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| IPO Listing At | NSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹25.10 Cr |
| Reserved for Market Maker | ₹1.26 Cr |
| Net Issue Size | ₹25.10 Cr |
| Fresh Issue | ₹18.99 Cr |
| Offer for Sale | ₹4.86 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹77.00-81.00 per share |
| NSE Code | VIGOR |
| Registrar | Kfin Technologies Ltd. |
| Lead Managers | Unistone Capital Pvt.Ltd. |
| Allotment Status |
| DRHP |
| RHP |
| Final Prospectus |
| Anchor List |
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Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 3,200 shares · Multiples of 1,600 shares
Incorporated in 2012, Vigor Plast India Limited is engaged in the manufacturing and supplying of CPVC and UPVC pipes and fittings.
The company offers a comprehensive range of products, including CPVC and UPVC plumbing pipes and fittings, SWR pipes, and PVC agricultural pipes. These products are designed for use in various applications, including plumbing, sewage, agriculture, and industrial sectors.
The company’s manufacturing facility and registered office in Dared, Gujarat, utilise fully automated equipment to ensure consistent, high-quality production while streamlining operations and maintaining close oversight.
The company has established five warehouses in Gujarat, located in Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka.
Product Range
Vigor offers a comprehensive selection of piping solutions for various applications:
Pipes: CPVC, uPVC plumbing pipes, SWR Ring Fit & SWR Self Fit pipes, and PVC agricultural pipes.
Vigor maintains a network of 440 distributors and dealers across 25 Indian states and territories (as of March 31, 2025), offering flexible credit terms and leveraging an Android-based “Vigor India Plast” app for seamless order placement.
As of June 30, 2025, the company has 81 personnel, excluding Board members, engaged in Management, Purchase, Procurement, Marketing, Production, Quality Control, Packing, Dispatch, Sales, and Human Resources.
Competitive Strengths
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of Certain Secured Borrowings availed by the Company | 11.39 |
| 2 | Funding capital expenditure towards the development and construction of new warehouse in Ahmedabad, Gujarat | 3.80 |
| 3 | General Corporate Purposes | 3.03 |
| 4 | Issue Expenses | 2.50 |
| Total | 20.73 |
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 40.51 | 35.89 | 20.09 |
| Total Income | 46.02 | 42.52 | 37.39 |
| Profit After Tax | 5.15 | 2.93 | 0.30 |
| EBITDA | 12.08 | 7.55 | 3.08 |
| NET Worth | 12.78 | 4.57 | 1.64 |
| Reserves and Surplus | 4.93 | 4.07 | 1.14 |
| Total Borrowing | 17.72 | 21.57 | 11.29 |
| Amount in ₹ Crore | |||
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 59.39% |
| ROCE | 28.24% |
| Debt / Equity | 1.39% |
| RoNW | 59.39% |
| PAT Margin | 11.30% |
| EBITDA Margin | 26.51% |
| Price to Book Value | 4.97 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 6.56 | 4.98 |
| P/E (x) | 12.35 | 16.28 |
| Promoter Holding | 100% | 70.05% |
| Market Cap | ₹83.85 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager’s fees | 0.25 |
| 2 | Underwriting Fees | 1.76 |
| 3 | Fees payable to Market Maker to the Offer | 0.06 |
| 4 | Fees payable to Registrar to the Offer | 0.02 |
| 5 | Fees payable for Advertising and Publishing expenses | 0.12 |
| 6 | Fees payable to Regulators including Stock Exchanges & Depositories | 0.10 |
| 7 | Payment for Printing & Stationery, Postage, etc. | 0.03 |
| 8 | Fees payable to Statutory Auditor, Legal Advisors and other Professionals | 0.06 |
| 9 | Others | 0.10 |
Last Updated on 16-Jun-2026 18:10:14
