Aritas Vinyl Limited
Bookbuilding IPO · BSE
- Price band
- ₹40 - ₹47
- Lot size
- 3,000 shares
- Issue amount
- ₹37.52 cr
- Total subscription
- 2.27×
- Opens
- 16 Jan 2026
- Closes
- 20 Jan 2026
- Allotment
- 21 Jan 2026
- Listing
- 23 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 79,83,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,20,000
- Fresh issue
- ₹32.89 cr
- Offer for sale
- ₹4.63 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,41,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,26,90,080
- Shares after issue
- 1,96,88,680
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 6,000 | ₹2,82,000 |
| sHNI | 3 | 9,000 | ₹4,23,000 |
| bHNI | 8 | 24,000 | ₹11,28,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 20 Jan 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 1 |
| NIB | 0 | 120 |
| RETAIL | 752 | 2,165 |
| HNIs(10L +) | 222 | 14 |
| HNIs (2-10L) | 111 | 106 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 0.37 | 0.37 |
| Others | 0 | 0.37 |
| RETAIL | 21.21 | 61.05 |
| NIB | 14.06 | 19.29 |
| HNIs 2+ | 4.68 | 5.37 |
| HNIs 10+ | 9.38 | 13.92 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Aug-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 4.58 | 3.77 | 1.62 |
| ROE | 11.16 | 31.23 | 32.31 |
| ROCE | 11.14 | 21.99 | 6.6 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 14.43 | 0 |
| POST IPO(PE) | 15.93 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Amin Tannery Ltd | 58.67 | 1.76 | 1.00 | 1.19 | 2.27 | 0.03 |
| Mirza International Ltd | 39.71 | 36.93 | 2.00 | 33.56 | -0.86 | 0.93 |
| Aritas Vinyl Limited | 14.43 | 0 | 10.00 | 15.97 | 20.39 | 13.14 |
Company information
Company profile
Incorporated in 2020, Aritas Vinyl Private Limited is engaged in the manufacturing and trading of technical textiles such as artificial leather, also known as PU synthetic leather and PVC-coated leather, using advanced transfer coating technology. The company produces artificial leather, PVC vinyl, and related products catering to industries including automotive, fashion, and interior design, supplying to distributors, wholesalers, manufacturers, and exporting to markets such as Greece, Oman, UAE, Sri Lanka, USA, and SEZs while promoting synthetic alternatives to animal leather. Its manufacturing facility located at Kubadthal, Ahmedabad spans 6,067 square meters with an annual production capacity of 7.8 million square meters, enabling efficient fulfillment of diverse customer requirements across automotive upholstery, fashion accessories, and interior design applications.
Strengths
- Strong focus on quality and customization – Offers a wide variety of textures, colours, and specifications to serve multiple industries.
- Experienced leadership with deep market understanding – Industry expertise supports better customer acquisition and effective product positioning.
- End-to-end manufacturing setup – In-house production at a well-located facility enhances efficiency and keeps costs under control.
Risk factors
- Limited operating track record – A short manufacturing history makes it difficult to assess long-term business performance.
- Regulatory and compliance concerns – Preferential allotment in FY21 without a valuation report may attract regulatory scrutiny.
- Risk of promoter group conflict – A group company operating in the same business without a non-compete agreement could affect competitiveness.
Promoters
Mr. Anilkumar Prakashchandra Agrawal
Mr. Sanjaykumar Kantilal Patel
Mr. Ankit Anilbhai Agrawal
Mr. Mohit Ashokkumar Agrawal
Mr. Rohit Dineshbhai Agrawal
Mr. Rutvik Patel
Mr. Shubham Sunilbhai Agrawal
Registrar & documents
Lead manager
Interactive Financial Services Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Survey No. 1134, Near Elegant Vinyl Private Limited, Daskroi, Ahmedabad, Gujarat, 382430
9998852850
[email protected]Company website ↗Understanding ARITAS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.