Minimum Investment
About Company
Company Name: Aritas Vinyl Limited
Industry / Sector: Manufacturing / Technical Textiles & Synthetic Leather (PU & PVC Coated)
Founded Year: 2020
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
Incorporated in April 2020, Aritas Vinyl Limited manufactures and trades technical textiles such as Artificial Leather (PU Synthetic Leather and PVC-coated leather) using Transfer Coating Technology. The company produces materials for automotive upholstery, fashion accessories, interior design (wall coverings), footwear, bags, and industrial uses. It has a fully integrated manufacturing facility spanning 6,067 sq. m at Kubadthal/Daskroi, Ahmedabad with annual capacity of 7.8 million sq. m. Products are supplied to distributors, wholesalers, manufacturers, and exported to Greece, Oman, UAE, Sri Lanka, USA, and SEZs.
IPO Basic Details
| Company Name | Aritas Vinyl Limited |
| IPO Type | SME IPO |
| Price Band | ₹40 – ₹47 |
| Lot Size | 3000 |
| Total Issue Size | ₹37.52 Cr (79,83,000 shares) |
IPO Strengths & Risks
Strengths
- Quality & Customization
- Experienced promoters with market knowledge
- Fully integrated plant at strategic location
- Enhanced capacity in 3 years
- Long-standing customer relationships
Risks
- Highly competitive & fragmented sector
- Raw material price volatility
- Export & regulatory risks
- High debt levels
- Dependence on domestic + limited export demand
IPO Important Dates
| IPO Open Date | 16 Jan 2026 |
| IPO Close Date | 20 Jan 2026 |
| Basis of Allotment | 21 Jan 2026 |
| Refund Initiation | 22 Jan 2026 |
| Demat Credit Date | 22 Jan 2026 |
| Listing Date | 23 Jan 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | 20 Jan 2026 |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – ₹20.45 Cr
- Debt repayment – -
- General corporate purposes – ₹4.65 Cr
Investor Reservation
| QIB Quota | 0.98% (78,000 shares) |
| Retail Quota | 56.52% (45,12,000 shares) |
| HNI Quota | 37.47% (NII – bNII 24.99%, sNII 12.48%) |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 lots | 6000 | ₹2,82,000 |
| Retail Maximum | 2 lots | 6000 | ₹2,82,000 |
| S-HNI Minimum | 3 lots | 9000 | ₹4,23,000 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 8 lots | 24000 | ₹11,28,000 |
Key Performance Indicators (KPI)
| ROE | 11.16% (Aug 2025) / 31.23% (FY25) |
| ROCE | 11.14% (Aug 2025) / 21.99% (FY25) |
| RoNW | 25.51% (Aug 2025) / 20.36% (FY25) |
| PAT Margin | 5.97% (Aug 2025) / 4.23% (FY25) |
| EBITDA Margin | 11.20% (Aug 2025) / 8.81% (FY25) |
| EPS | ₹3.26 (pre) / ₹2.95 (post) |
| NAV per share | N/A |
| Debt to Equity | 1.65 (Aug 2025) |
| P/E Ratio | 14.43x (pre) / 15.93x (post) |
| Industry P/E | 15–25x (textiles/leather) |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹57.95 Cr | ₹51.42 Cr | ₹0.99 Cr | ₹3.09 Cr | ₹4.32 Cr | ₹33.10 Cr |
| 31 Mar 2024 | ₹76.12 Cr | ₹69.25 Cr | ₹1.67 Cr | ₹4.65 Cr | ₹5.99 Cr | ₹52.79 Cr |
| 31 Mar 2025 | ₹95.26 Cr | ₹98.02 Cr | ₹4.13 Cr | ₹8.63 Cr | ₹20.27 Cr | ₹36.82 Cr |
| 31 Aug 2025 | ₹98.25 Cr | ₹40.58 Cr | ₹2.42 Cr | ₹4.55 Cr | ₹22.77 Cr | ₹37.78 Cr |
Grey Market Premium
| GMP Price | ₹0 (0%) |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Jan 2026 |
| Estimated Listing Price | ₹47 (flat) – actual opened at ₹47 / closed lower; current ~₹16–17 (-64% from issue) |
IPO Subscription Data
| Total Subscription | 2.21x |
| QIB (Ex Anchor) | 1.00x |
| HNI Subscription | 1.24x (NII) |
| Retail Subscription | 2.88x |
| Anchor | - |
IPO Intermediaries
Registrar: Bigshare Services Pvt. Ltd.
Registrar Website: https://ipo.bigshareonline.com
IPO Lead Manager(s)
Company Information
Address: Survey No. 1134, Near Elegant Vinyl Private Limited, Daskroi, Ahmedabad, Gujarat 382430
Website: http://www.aritasvinyl.com
Email: info@aritasvinyl.com
Phone: 99988 52850
IPO Documents
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