Vigor Plast IPO Subscribed 0.71x on Day 2
The Vigor Plast IPO was subscribed 0.71 times on its second day, till 5:00 PM on September 5, 2025.
In total, the company received 14,73,600 share bids against 20,70,400 shares on offer by Day 2.
Subscription trend:
Founded in 2014, Vigor Plast Limited initially started as a trading company specializing in PVC pipes and fittings. In 2020, it expanded into manufacturing with a facility dedicated to producing a wide range of products including:
The company has received multiple quality certifications from the Bureau of Indian Standards (BIS) for both its products and its manufacturing facilities.
To strengthen distribution, Vigor Plast operates five warehouses across four key cities in Gujarat: Rajkot, Jamnagar, Surat, and Ahmedabad. The company markets its products under the brand name “Vigor”, which has gained recognition in the building materials sector.
Its sales network includes 387 distributors across 25 states and union territories as of December 31, 2024, giving it a wide geographical footprint. Vigor Plast’s customer base spans construction companies, infrastructure projects, plumbing contractors, and retail markets, benefiting from India’s ongoing urbanization and housing demand.
The company has shown steady financial growth in recent years:
This growth reflects improved operations after scaling its manufacturing capacity and expanding its distribution network.
As of Friday, September 5, 2025, the Vigor Plast IPO GMP stood at ₹0, indicating that the IPO was trading at its issue price of ₹81, with no premium in the grey market.
While there is no premium currently, analysts note that the company’s strong distribution network, BIS-certified products, and presence in India’s expanding housing and infrastructure sector could provide long-term growth opportunities.
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