Vigor Plast India's IPO Set to Fuel Expansion

Vigor Plast India, a leading PVC pipes and fittings manufacturer, is gearing up for its initial public offering (IPO), set to open on September 4. Aiming to raise Rs 25.10 crore, the company will conclude the IPO on September 9, with plans to list shares on NSE's SME platform Emerge.

The IPO includes a fresh issue of 24.99 lakh equity shares and an offer for sale of 6 lakh shares. Prices are set between Rs 77-81 per share, from which Vigor Plast India hopes to raise substantial funds at the upper end of the price band.

Proceeds will be utilized to repay debt, construct a new warehouse in Ahmedabad, and support general corporate activities. Jayesh Premjibhai Kathiriya, Chairman & MD, underscores the IPO's importance in fortifying financial health and accelerating capacity expansion. Unistone Capital manages the IPO, with Kfin Technologies handling the registration.

(With inputs from agencies.)