Gujarat-based PVC pipes and fittings maker Vigor Plast India’s public issue is set to open for subscription between September 4 and September 9, emerging as the second company in the SME segment to take the IPO route in September, after Rachit Prints' primary issue.
The IPO share allotment will be finalised by September 10 and trading in Vigor Plast India will commence on the NSE Emerge exchange from September 12.
The public issue comprises of fresh issue of 24.99 lakh shares, and an offer-for-sale of 6 lakh shares by Kathiriya family, the promoter.
Vigor Plast intends to utilise Rs 11.4 crore of fresh issue proceeds for repayment of borrowings (worth Rs 16.5 crore as of July 2025), Rs 3.8 crore for the development and construction of new warehouse in Ahmedabad, and the remainder funds for general corporate purposes.
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Incorporated in 2014, Vigor Plast India started its journey as a trader of PVC pipes (polyvinyl chloride) and fittings under the VIGOR brand, caters to plumbing, irrigation and SWR (soil, waste, and rainwater) management segments. The company now has manufacturing facility and four warehouses in Gujarat.
Vigor Plast competes with listed peers like Captain Pipes, Dutron Polymers and Rex Pipes & Cables Industries, with a net profit at Rs 5.15 crore for the year ended March 2025, growing at 75.8 percent compared to a year ago. The revenue increased by 7.3 percent to Rs 45.6 crore during the same period.
Unistone Capital is acting as the sole book running lead manager for the Vigor Plast India IPO.
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