Vigor Plast India came to market through an SME IPO that opened on 4 September 2025 and closed on 9 September 2025, and the shares listed on 12 September 2025 on NSE SME. The price band was ₹77 to ₹81 per share and one lot was 1600 shares, so the minimum application was ₹1,29,600. The issue size was ₹25.1 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Limited was the registrar to the issue, and Unistone Capital Pvt Limited was the lead manager.
As of 9 September 2025.
| Day |
|---|
| 1 |
| 2 |
| 3 |
| 4 |
Formed in 2012, Vigor Plast India Limited is involved in the production and supply of CPVC and UPVC pipes and fittings.The company deals with a vast array of products such as CPVC and UPVC plumbing pipes and fittings, SWR pipes, and PVC pipes for agriculture. These products find applications in different sectors such as plumbing, sewage, agriculture, and industrial sectors.
The registered office and factory of the company in Dared, Gujarat, are equipped with fully automated machinery to provide high-quality and uniform production and to simplify operations and keep close control.The company operates five warehouses in Gujarat at Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka. Product Range:Vigor has an extensive range of piping solutions for different uses: Pipes: CPVC, uPVC sanitary pipes, SWR Ring Fit & SWR Self Fit pipes, and PVC irrigation pipes. Fittings and Accessories:
Comprehensive range of CPVC and uPVC fittings, agriculture fittings (Sel Fit), SWR Ring Fit and Self Fit fittings, as well as ancillary items like PTMT taps and garden hoses.
Vigor has a chain of 440 distributors and dealers in 25 Indian states and union territories (as of March 31, 2025) and provides liberal credit terms and uses an Android-enabled 'Vigor India Plast' app for easy order placing.As of June 30, 2025, the company has 81 employees, apart from Board members, involved in Management, Purchase, Procurement, Marketing, Production, Quality Control, Packing, Dispatch, Sales, and Human Resources.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
Jayesh Premjibhai Kathiriya, Rajesh Premjibhai Kathiriya, Premjibhai Dayabhai Kathiria, Jashvantiben Rajeshbhai Kathiriya, Nitaben Jayeshbhai Kathiriya. Promoter holding 100% before the issue and 70.05% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Vigor Plast India IPO was a ₹25.1 crore book-built issue, comprising a fresh issue of ₹18.99 crore and an offer for sale of ₹4.86 crore. It was priced at ₹77–₹81 per share with a lot size of 1,600 shares; the minimum retail application was 3,200 shares (₹2,59,200). The IPO was open from September 4 to September 9, 2025 and was subscribed 3.95x.
Shares listed on NSE SME on September 12, 2025 at ₹85, a 4.9% premium to the issue price of ₹81. Kfin Technologies Limited is the registrar. Unistone Capital Pvt Limited is the book running lead manager.
The price band of Vigor Plast India IPO is ₹77 to ₹81 per share.
The lot size of Vigor Plast India IPO is 1600 shares.
The minimum investment for Vigor Plast India IPO is approximately ₹2,59,200 based on the upper price band.
The allotment date of Vigor Plast India IPO is Sep 10, 2025.
You can check Vigor Plast India IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Vigor Plast India IPO allotment status on Rupix for quick and easy access.
₹77 to ₹81 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,29,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,29,600, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 4 September 2025 and closed on 9 September 2025.
The basis of allotment was published on 10 September 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 12 September 2025 on NSE SME.
The issue size was ₹25.1 crore. The fresh issue was 23,44,000 shares (aggregating up to ₹18.99 crore). The offer for sale was 6,00,000 shares (aggregating up to ₹4.86 crore).