Varmora Granito Shares Trade Flat After Listing at 5% Premium Over IPO Price

Varmora Granito shares traded flat to mildly higher following a debut at ₹152 on the BSE and ₹155 on the NSE, marking up to a 4.72% premium over its ₹148 IPO price.

The company's ₹708-crore IPO was subscribed 1.58 times, featuring a fresh issue of ₹320 crore and an offer-for-sale of 2.62 crore shares.

Proceeds from the fresh issue will be used to repay subsidiary borrowings and fund general corporate purposes, with market capitalisation standing at ₹3,474.93 crore.