Vigor Plast's IPO listed on NSE SME at a price of ₹81, opening at ₹85 and reaching ₹89, giving investors a listing profit of up to 9.88%. The company manufactures plastic pipes and fittings. Funds raised from the IPO will be used for debt repayment, building a new warehouse, and other corporate purposes.
Vigor Plast IPO Listing: Vigor Plast, which manufactures CPVC and UPVC pipes and fittings, has been listed on NSE SME. The IPO was launched at ₹81 and today opened at ₹85, reaching ₹89, resulting in a profit of up to 9.88% for investors. Under the IPO, new shares worth ₹20.25 crore were issued, and 6 lakh shares were sold through an offer for sale. Out of the funds raised, ₹11.39 crore will be used for debt reduction, ₹3.8 crore for building a new warehouse, and the rest for other corporate purposes. The company has shown consistent b financial performance since 2012, with net profit reaching ₹5.15 crore and total income ₹46 crore in FY2025.
Strong Subscription for the IPO
The Vigor Plast IPO was open for subscription from September 4 to 9, 2025. The overall IPO subscription was 3.88 times. The Qualified Institutional Buyers (QIB) portion was subscribed 3.94 times, Non-Institutional Investors (NII) portion was subscribed 7.03 times, and the retail investors' portion was subscribed 2.49 times. Under the IPO, new shares worth ₹20.25 crore were issued, and 6 lakh shares were sold through an offer for sale.
Out of the funds raised from the new shares, ₹11.39 crore will be used to repay debt, ₹3.80 crore for building a new warehouse in Ahmedabad, and the remaining amount for general corporate purposes. The money raised from the offer for sale shares went to the selling promoters and investors.
Introduction to Vigor Plast
Vigor Plast was established in 2012. The company manufactures and supplies CPVC and UPVC pipes, fittings, SWR pipes, and PVC agricultural pipes. Its products are used in plumbing, sewage, agriculture, and industrial sectors.
The company's registered office and manufacturing facility are located in Dared, Gujarat. Additionally, it has five warehouses in Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka.
Company's Business Health and Financial Performance
Vigor Plast has demonstrated consistently b financial performance. In FY2023, the company's net profit was ₹30 lakh, which increased to ₹2.93 crore in FY2024 and ₹5.15 crore in FY2025. During this period, the company's total income grew at a compound annual growth rate (CAGR) of over 10% to ₹46.0 crore.
The company's debt stood at ₹11.29 crore at the end of FY2023. It increased to ₹21.57 crore in FY2024 and decreased to ₹17.72 crore in FY2025. Meanwhile, reserves and surplus, which were ₹1.14 crore at the end of FY2023, grew to ₹4.07 crore in FY2024 and ₹4.93 crore in FY2025.
Initial Listing of Shares Post-IPO
Following its IPO listing, Vigor Plast's shares have provided good returns to investors. From an initial price of ₹81, the share's opening listing was at ₹85 and later reached ₹89. This surge indicates investor confidence and the company's b financial performance.
Notably, listing on the NSE SME platform has made these shares accessible to small and medium investors as well. The successful subscription of the IPO and the listing gains have further strengthened investor confidence.
