Vigor Plast India Limited is a trusted name in the world of CPVC and UPVC pipes and fittings, delivering reliable solutions for plumbing, sewage, agriculture, and industrial applications. Headquartered in Dared, Gujarat, the company operates with fully automated machinery, ensuring precision, quality, and efficiency at every stage of production.
Its diverse product portfolio includes CPVC and UPVC plumbing pipes, SWR Ring Fit & Self Fit pipes, PVC agricultural pipes, and a wide range of fittings and accessories—from CPVC and UPVC fittings to PTMT taps and garden pipes—catering to both urban and rural needs.
With five strategically located warehouses in Rajkot, Jamnagar, Surat, Ahmedabad, and Dholka, along with a strong distribution network of 440 dealers across 25 states, Vigor ensures easy accessibility and seamless service. The company also embraces technology with its Android-based “Vigor India Plast” app, enabling smooth order placement for distributors.
As of June 30, 2025, Vigor Plast is powered by a dedicated team of 81 professionals, driving excellence in management, production, marketing, quality control, and customer service, making it a strong player in India’s piping solutions industry.
Vigor Plast IPO – Details
| IPO Opening Date | 04 September 2025 |
| IPO Closing Date | 09 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 30,99,200 Shares Worth ₹25.10 Crore Fresh Issue: 24,99,200 Shares Worth ₹20.24 Crore Offer For Sale: 6,00,000 Shares Worth ₹4.86 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹77 – ₹81 per share |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Vigor Plast IPO – Date Schedule
| IPO Open Date | 04 September 2025 |
| IPO Close Date | 09 September 2025 |
| Basis of Allotment | 10 September 2025 |
| Initiation of Refund | 11 September 2025 |
| Credit of Shares to Demat | 11 September 2025 |
| IPO Listing Date | 12 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 09, 2025 |
Vigor Plast IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,59,200 |
| Retail (Max) | 2 | 3,200 | ₹2,59,200 |
| S-HNI (Min) | 3 | 4,800 | ₹3,88,800 |
| S-HNI (Max) | 7 | 11,200 | ₹9,07,200 |
| B-HNI (Min) | 8 | 12,800 | ₹10,36,800 |
Competitive Strengths
- A broad, versatile product lineup tailored to diverse applications.
- Strong brand identity focused on quality and reliability.
- A modern, strategically located manufacturing setup enabling efficiency in cost, production, and logistics.
- Certification-backed quality (ISO and multiple IS/BIS standards).
Company Promoters
- Jayesh Premjibhai Kathiriya
- Rajesh Premjibhai Kathiriya
- Premjibhai Dayabhai Kathiria
- Jashvantiben Rajeshbhai Kathiriya
- Nitaben Jayeshbhai Kathiriya
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹37.39 Cr | ₹37.04 Cr | ₹0.30 Cr | ₹11.29 Cr |
| 31 March 2024 | ₹42.52 Cr | ₹38.39 Cr | ₹2.92 Cr | ₹21.57 Cr |
| 31 March 2025 | ₹46.02 Cr | ₹39.16 Cr | ₹5.15 Cr | ₹17.72 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 59.39% |
| ROCE | 28.24% |
| Debt/Equity | 1.39 |
| RoNW | 59.39% |
| PAT Margin | 11.30% |
| EBITDA Margin | 26.51% |
| Price to Book Value | 4.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.56 | 4.98 |
| P/E (x) | 12.35 | 16.28 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Repayment of certain secured borrowings availed by the Company. | ₹11.39 |
| Funding capital expenditure towards the development and construction of a new warehouse in Ahmedabad, Gujarat. | ₹3.80 |
| General Corporate Purposes. | – |
✅Strengths
- Strong industry track record with experienced promoters.
- Wide product portfolio (CPVC, UPVC, SWR, Agri pipes & fittings).
- ISO & BIS certified quality standards.
- Established supplier and distributor network across India.
⚠️Risks
- High competition in the pipes & fittings market.
- Dependence on timely dealer payments (credit risk).
- Sensitive to raw material prices, interest rates & inflation.
- Business linked to construction, infra & agri sector demand.
Vigor Plast IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 70.05% |
Vigor Plast IPO Prospectus
Company Contact Information
| Vigor Plast India Ltd. Survey No. 640/3, Behind Gujarat Gas CNG Pump Godown Zone, Lalpur Road, Dared, Village: Chela, Jamnagar, Gujarat, 361006 Phone: 0288-2730912 Email: info@vigorplastindia.com Website: https://www.vigorplastindia.com/ |
Vigor Plast IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: vpil.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Vigor Plast IPO Lead Manager(s)
| 1. Unistone Capital Pvt.Ltd. |
Vigor Plast IPO FAQ
| What is Vigor Plast IPO? Vigor Plast IPO is an SME IPO. The issue is priced at ₹77 – ₹81 per equity share. The IPO is to be listed on NSE SME. |
| When Vigor Plast IPO will open? The IPO is to open on 04 September 2025 for QIB, NII, and Retail Investors. |
| What is Vigor Plast IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Vigor Plast IPO Size? Vigor Plast IPO size is ₹25.10 Crore. |
| What is Vigor Plast IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 3200 Shares with ₹2,59,200 amount, while the maximum bid is 3200 Shares with ₹2,59,200. |
| What is the Vigor Plast IPO Allotment Date? Vigor Plast IPO allotment date is 10 September 2025. |
| What is the Vigor Plast IPO Listing Date? Vigor Plast IPO listing date is 12 September 2025. The IPO is to be listed on the NSE SME. |
