Varmora Granito Shares Debut At Nearly 5% Premium

Varmora Granito makes tiles and bathroom products.

Its shares started trading at Rs 155 each.

This was higher than the IPO price of Rs 148.

The opening price gave investors a gain of about 5 percent.

The company raised Rs 708.02 crore through its IPO.

Investors applied for 1.60 times the number of shares offered.

Large institutional investors showed the strongest interest, while non-institutional investors did not fully subscribe.

Investors will now watch whether the company's improving income and profits can support its share price.