Varmora Granito is looking to raise at least US$100m in its upcoming India IPO. The deal will be run by Goldman Sachs, JM Financial and SBI Capital.
Varmora Granito Limited (VGL) is a leading Indian manufacturer and trader of ceramic tiles and allied products, offering glazed vitrified tiles (GVT), polished vitrified tiles (PVT), and ceramic tiles. As of FY25, its portfolio comprised over 3,500 SKUs across 20 surface types for applications such as flooring, walls, façades, kitchen slabs, and back paneling.