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Vigor Plast IPO Subscribed 3.88x on Day 4

Vigor Plast IPO Subscribed 3.88x on Day 4

Vigor Plast IPO Subscription Status

  • The Vigor Plast IPO was subscribed 3.88 times on its final day (till 5:00 PM, September 9, 2025).
  • Category-wise subscription:
    • QIB (Qualified Institutional Buyers): 3.94x
    • NII (Non-Institutional Investors): 7.03x
    • RII (Retail Individual Investors): 2.49x
  • Total bids received: 80,32,000 shares against 20,70,400 shares offered.

Day-wise subscription trend:

  • Day 1: 0.33x
  • Day 2: 0.71x
  • Day 3 (Final Day): 3.88x

The IPO saw strong investor demand on the last day, especially from NII and QIB investors, indicating confidence in the company’s growth prospects.

About Vigor Plast Limited

  • Founded: 2014
  • Initial Focus: Started as a PVC pipes and fittings trading company.
  • Expansion: In 2020, the company established its own manufacturing facility for:
    • PVC (Polyvinyl Chloride) pipes & fittings
    • uPVC (Unplasticized PVC) pipes & fittings
    • CPVC (Chlorinated PVC) pipes & fittings
  • Quality Certifications:
    • Accredited by the Bureau of Indian Standards (BIS) for both products and the manufacturing facility.
  • Distribution & Warehousing:
    • 5 warehouses across 4 strategic locations in Gujarat – Rajkot, Jamnagar, Surat, and Ahmedabad.
    • Wide sales network of 387 distributors covering 25 states and union territories (as of December 31, 2024).
    • Products marketed under the brand “Vigor”, strengthening brand recognition.
  • Customer Segments:
    • Construction and infrastructure companies
    • Plumbing and sanitation markets
    • Industrial and agricultural sectors (irrigation, water supply systems)

Financial Performance

  • FY 2023–2024:
    • Revenue: ₹42.52 crore in 2024 vs. ₹37.39 crore in 2023
    • Profit: ₹2.93 crore in 2024 vs. ₹0.30 crore in 2023
  • Growth Insight:
    • The company achieved a 13.7% revenue growth and a 9.7x increase in net profit within a year.
    • Profitability surged due to scaling manufacturing operations and growing distribution reach.

Vigor Plast IPO Grey Market Premium (GMP)

  • As of Tuesday, September 9, 2025, the IPO GMP stood at ₹0.
  • This means the IPO was trading at ₹81 in the grey market, equal to its issue price of ₹81, with no premium or discount.
  • A neutral GMP indicates that the stock’s listing may depend on post-listing demand and long-term investor sentiment.

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