Aritas Vinyl is coming to the market with an IPO worth ₹38 crore in total. It will issue 79,83,000 shares at a nominal value of ₹10 per share. Investors can begin placing bids from January 16, 2026. The bidding continues until January 20, 2026. The allotment is scheduled on January 21, 2026. The shares are scheduled to list on the BSE SME on January 23, 2026.
Applications can be submitted in the price range of ₹40 to ₹47, in lots of 3,000 shares. Retail participants will have to bid for at least 2 lots with ₹2,82,000. The sNII category will have a minimum outlay of ₹4,23,000 for 3 lots, while the bNII will have to place bids of ₹11,28,000 for 8 lots.
Aritas Vinyl IPO Details
The table below presents the key IPO particulars:
| Particulars | Details |
| IPO Opens | January 16, 2026 |
| IPO Closes | January 20, 2026 |
| Face value | ₹10 per share |
| Price Band | ₹40 to ₹47 |
| Issue price | – |
| IPO Lot Size | 3,000 Shares |
| Offer for sale | 9,84,400 shares (₹5 Crore) |
| Fresh issue | 65,96,600 shares (₹31 Crore) |
| Market Maker Reservation | 4,02,000 shares (₹2 Crore) |
| Issue Type | Book-built |
| Listing at | BSE SME |
| Total Issue Size | 79,83,000 shares (₹38 Crore) |
| Minimum Investment | ₹2,82,000 |
Aritas Vinyl IPO Timeline
The IPO will run as per the given timeline:
| Particulars | Details |
| Bidding Opens | January 16, 2026 |
| Bidding Closes | January 20, 2026 |
| Expected Allotment | January 21, 2026 |
| Refund Initiation | January 22, 2026 |
| Shares Credit to Demat | January 22 2026 |
| Tentative Listing Date | January 23, 2026 |
| Deadline for UPI mandate | – |
Aritas Vinyl Key Performance Indicator
The Aritas Vinyl’s key performance indicators (KPIs) are given in the following table:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | 26.02 | 32.31 | 31.23 |
| ROCE (%) | 6.46 | 6.60 | 21.99 |
| Debt Equity (times) | 7.66 | 8.82 | 1.80 |
| RoNW (%) | 26.91 | 29.89 | 20.36 |
| PAT Margin (%) | – | – | – |
| EBITDA margin (%) | 6.02 | 6.72 | 8.81 |
| Price Book Value | – | – | 2.94 |
Aritas Vinyl Financials
The key financial metrics of Aritas Vinyl are as follows:
| Particulars (in ₹ lakh) | 2023 | 2024 | 2025 |
| Revenue | 5,142.00 | 6,924.63 | 9,801.85 |
| Total Asset | 5,794.59 | 7,611.85 | 9,526.30 |
| Profit | 99.49 | 166.50 | 413.26 |
Subscription Status of Aritas Vinyl IPO
The given table presents the subscription status of the Aritas Vinyl IPO:
| Day | NII | Individual Investor | Total |
| Day 1 | |||
| Day 2 | |||
| Day 3 |
Aritas Vinyl IPO Grey Market Premium Today
The GMP of Aritas Vinyl IPO stands at ₹0 today. The grey market shows no interest, and with the current premium, the shares will likely list at ₹47.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 14-01-2026 | ₹0 | ₹47 | 0% | Neutral |
| 13-01-2026 | ₹0 | ₹47 | 0% | Neutral |
Note: The GMP numbers are sourced from informal market activity. They can change with fluctuations in subscription trends, demand and market sentiment.
Aritas Vinyl IPO Reservation
The IPO shares are reserved across investor groups as per the order given below:
| Investor Category | Reservation |
| Market Maker Shares | 4,02,000 (5.04%) |
| QIB Shares | 78,000 (0.98%) |
| NII (HNI) Shares | 29,91,000 (37.47%) |
| Retail Shares | 45,12,000 (56.52%) |
| Total Shares | 79,83,000 (100.00%) |
Lot Size of the Aritas Vinyl IPO
Applications can be made according to the lot sizes mentioned below:
| Investor Type | Lots | Shares | Amount |
| Individual Investors – Retail (Minimum) | 2 | 6,000 | ₹2,82,000 |
| Individual Investors – Retail (Maximum) | 2 | 6,000 | ₹2,82,000 |
| S-HNI (Minimum) | 3 | 9,000 | ₹4,23,000 |
| S-HNI (Maximum) | 7 | 21,000 | ₹9,87,000 |
| B-HNI (Minimum) | 8 | 24,000 | ₹11,28,000 |
Aritas Vinyl IPO Anchor Investors Details
The Aritas Vinyl IPO does not have any anchor investors. It is an SME issue, and their participation is not necessary. That is why details such as anchor bidding dates, offered shares, portion size, or lock-in periods are not available.
Prospectus of the Aritas Vinyl IPO
For more details on the IPO, you can refer to these documents:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed |
About Aritas Vinyl
Aritas Vinyl Limited was incorporated in April 2020 and operates from its registered office in Ahmedabad, Gujarat. The company is led by Mr. Anilkumar Prakashchandra Agrawal, who serves as Managing Director and brings decades of experience in manufacturing and sales-led businesses. The company operates in technical textile manufacturing, using the advanced Transfer Coating technique.
Its growth has been supported by rising demand for cost-efficient alternatives to natural leather and higher domestic consumption. The company operates within the synthetic leather and vinyl manufacturing industry, competing with players such as Mirza International Limited and Amin Tannery Limited.
| Issue Registrar | Bigshare Services Pvt.Ltd. |
| Lead Manager | Interactive Financial Services Ltd. |
Objectives of the Aritas Vinyl IPO
Capital raised through the IPO is intended for:
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1. | Investment in Solar Power Setup | 425.61 |
| 2. | Working Capital Requirements | 2045.00 |
| 3. | General Corporate Use | – |
Strength Of Aritas Vinyl
The company’s growth has been supported by the following key strengths:
1. Quality Focus & Customisation: Strong emphasis on quality runs through every stage, from raw material sourcing to final packaging. Certified systems and in-house testing enable tailoring to meet precise client needs and earn repeat orders.
2. Experienced Leadership: Promoters with deep market understanding actively guide daily operations. Their hands-on approach, supported by a skilled technical team, brings clarity and steady decision-making.
3. Integrated Manufacturing Base: A fully equipped facility near Ahmedabad allows close control over production, costs, and timelines. The ability to modify production volumes helps to address both small and large customer demands.
4. Capacity Expansion: The production has scaled quickly within a short operating period. Capacity upgrades reflect rising demand and market acceptance, signalling operational confidence and execution strength.
5. Diverse Customer Base: A wide client base across furniture, footwear, automotive, healthcare, and fashion reduces dependence on any single segment. Timely delivery and responsiveness underpin long-standing partnerships.
Risk of Aritas Vinyl
The following risks could influence the company’s operations and long-term outlook:
1. Competition from Real Leather: Artificial leather typically offers lower durability than natural leather. If the quality perception weakens, customers may shift toward traditional options.
2. Workforce Retention: Quality control and production rely on trained personnel. Hiring and retaining skilled staff is difficult, and their absence can negatively affect the output consistency.
3. Single Manufacturing Facility: Heavy reliance on a primary manufacturing unit increases vulnerability to shutdowns from technical failures, natural events, or regulatory action.
4. Reliance on External Logistics: Transportation of raw materials and finished goods relies on external parties. Delays or disruptions can impact profit margins and delivery timelines.
5. Utility Dependence: Manufacturing makes use of significant power and water supplies. Any shortages can slow down or entirely stop the operations.
Aritas Vinyl IPO Review
The Aritas Vinyl IPO offers an opportunity to investors looking to enter the synthetic leather and vinyl space. Demand for these products is rising, which supports the business, but the company also faces operational risks. With the currently flat GMP, strong listing gains can’t be expected. This IPO may suit investors who are willing to hold for the long term.
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Aritas Vinyl IPO FAQs
Aritas Vinyl IPO is a book-built SME issue of ₹38 crore, comprising a total issue of 79,83,000 shares, proposed to be listed on BSE SME.
Investors can apply through their stockbroker using ASBA or UPI, by selecting the IPO, choosing the applicable lot size, and submitting the application within the offer period.
The IPO presents a mixed profile. It benefits from in-house manufacturing, experienced leadership, and a wide customer base, but investors should weigh the GMP, risk factors, and market sentiment before investing.
The current GMP of ₹0 signals no listing returns from the Aritas Vinyl IPO.
The Aritas Vinyl IPO opens on January 16, 2026, and closes on January 20, 2026.
The lot size is 3,000 shares. Retail investors must apply for 2 lots (6,000 shares), requiring a minimum investment of ₹2,82,000 at the upper price band.
The allotment of Aritas Vinyl IPO shares is expected on January 21, 2026.
The Aritas Vinyl IPO is scheduled to list on January 23, 2026, on the BSE SME platform.
