Aritas Vinyl was incorporated on April 17, 2020. The company manufactures technical textiles such as artificial leather, including PU synthetic leather and PVC-coated leather, using advanced transfer coating technology. These products are designed to replicate the look and feel of genuine leather while offering durability and suitability for various commercial and industrial applications
| Bidding Dates |
|---|
| 16 Jan 2026 - 20 Jan 2026 |
| Subscription |
|---|
| 2.15x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,40,000 | 2 | 2 | 3000 | 8.0 M | ₹40 - ₹47 | 28.19 % | ₹319.3 M - ₹375.2 M | RHP DOC |
Aritas Vinyl IPO SUBSCRIPTION STATUS
20 Jan '26Aritas Vinyl IPO overall subscription rate was 2.15 times the total available shares
Aritas Vinyl IPO retail subscription rate was 4.65 times in the retail segment
Aritas Vinyl IPO non-institutional investor subscription rate was 3.43 times in the non-institutional investor category
Aritas Vinyl IPO Qualified Institutional Bidder subscription rate was 0.02 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
20 Jan 2026 (Day 3) | 4.65x | 3.43x | 0.02x |
19 Jan 2026 (Day 2) | 2.87x | 2.9x | - |
16 Jan 2026 (Day 1) | 0.42x | 1.99x | - |
Aritas Vinyl FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 5MFY26 | 40.5 | 2.4 | 0.4 | 0.2 | 11.2% |
| FY25 | 97.7 | 4.1 | 8.7 | 7.8 | 8.8% |
| FY24 | 68.8 | 1.7 | -9.1 | -17.4 | 6.8% |
| FY23 | 51.2 | 1.0 | -7.7 | -8.7 | 6.0% |
Aritas Vinyl IPO SUBSCRIPTION STATUS DETAILS
Aritas Vinyl had 8.0 M shares on offer
Aritas Vinyl IPO offer price was in the range ₹40 - ₹47
Aritas Vinyl IPO minimum Investment was ₹240000
Aritas Vinyl IPO issue size was ₹ 319.3 M - ₹ 375.2 M
Aritas Vinyl had a minimum lot size of 3000 Shares per application
Aritas Vinyl NUMBER OF SHARES ON OFFER
Aritas Vinyl IPO IMPORTANT DATES
| Issue Open Date | 16 Jan 2026 |
| Issue close Date | 20 Jan 2026 |
| Allotment Date | 21 Jan 2026 |
| Refund Date | 22 Jan 2026 |
| Demat Account Credit Date | 22 Jan 2026 |
| Listing Date | 23 Jan 2026 |
| Listing on Exchange(s) | BSE |
| Aritas Vinyl Allotment Status | Exchange/ Registrar |
Aritas Vinyl IPO subscription opened on 16 Jan 2026, and closed on 20 Jan 2026
IPO allotment for Aritas Vinyl was finalized on Wednesday, 21 Jan 2026
IPO listing for Aritas Vinyl was on BSE on Friday, 23 Jan 2026
Aritas Vinyl IPO LISTING GAINS
| Issue Price (adjusted) | 47.0 |
| Listing Open Price | 47.0 |
| Listing Close Price | 44.6 |
| Listing Gain% | 0.0% |
| Current Gain% | -71.1% |
Aritas Vinyl Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Aritas Vinyl Ltd. | 13.6 | 26.8 | 5.6 | 0.4 | 0.3 | 8.6 | 4.3 | 101.4 | 3.5 | 4.8 | 15 | 2.4 | 15 |
| Lenskart Solutions Ltd. | 569.7 | 99054.9 | 200.7 | 11.2 | 5.6 | 3.4 | 8988.3 | 28.2 | 493.6 | 67 | 2.8 | ||
| Page Industries Ltd. | 39900 | 44504.1 | 58.3 | 12.2 | 8.5 | 50.8 | 26.7 | 5310.7 | 6.3 | 763.8 | 4.8 | 684.8 | 4.8 |
| Pearl Global Industries Ltd. | 2464.1 | 11381.8 | 36.7 | 1.5 | 2.1 | 19 | 8.6 | 5061.7 | 11.5 | 277.7 | 11.8 | 67.2 | 23.7 |
| Safari Industries (India) Ltd. | 1486.6 | 7267.4 | 44 | 4.1 | 3.4 | 15 | 11.6 | 2071.8 | 15.1 | 167.8 | 17.5 | 33.8 | 10.9 |
| Arvind Fashions Ltd. | 458.8 | 6132.7 | 51.3 | 0.1 | 1.1 | 13 | 2.9 | 5307 | 14 | 122.6 | 444.6 | 8.9 | 591.7 |
Aritas Vinyl INFORMATION ON IPO ISSUE
About Aritas Vinyl
Aritas Vinyl was incorporated on April 17, 2020. The company manufactures technical textiles such as artificial leather, including PU synthetic leather and PVC-coated leather, using advanced transfer coating technology. These products are designed to replicate the look and feel of genuine leather while offering durability and suitability for various commercial and industrial applications
Object of the Issue
- Capital Expenditure for solar power project
- Working capital
- General corporate purposes
Aritas Vinyl - PROMOTERS
| Name |
|---|
| Anilkumar Prakashchandra Agrawal |
| Sanjaykumar Kantilal Patel |
| Ankit Anilbhai Agrawal |
| Mohit Ashokkumar Agrawal |
| Rohit Dineshbhai Agrawal |
| Rutvik Patel |
| Shubham Sunilbhai Agrawal |
Aritas Vinyl - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Anilkumar Prakashchandra Agrawal | Managing Director |
| Sanjaykumar Kantilal Patel | Director |
| Ankit Anilbhai Agrawal | Director |
| Mohit Ashokkumar Agrawal | Director |
| Sona Sunderlal Bachani | Independent Director |
| Virendra Kumar Khandelwal | Independent Director |
| Rahul Hareshbhai Modi | Independent Director |
Aritas Vinyl Book Running Lead Manager
Interactive Financial Services Limited
mbd@ifinservices.in
Aritas Vinyl Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Aritas Vinyl Strengths
Quality & customization
The company is ISO 9001:2015 and IATF 16949:2016 certified and follows stringent quality assurance and control across all manufacturing stages. With in-house testing facilities, it delivers customized products that meet specific client requirements, ensuring consistent quality and repeat business
Diverse customet base
The company serves a diversified customer base across industries such as furniture, footwear, automobiles, healthcare, and fashion in India and overseas. Its growth depends on quality products, timely delivery, and strong client relationships, supported by a customer-centric approach and a proven track record
Integrated manufacturing plant
The company operates a well-equipped manufacturing facility near Ahmedabad for producing PU synthetic leather and PVC-coated leather using advanced transfer coating technology. Its integrated, automated processes enable quality control, competitive pricing, scalable production, and environmentally responsible operations with a zero liquid discharge system
Aritas Vinyl Risks
Non compliance risks
The company operates under strict quality compliance, and any deviation from customer specifications may adversely affect its reputation, sales, and profitability. With an in-house testing laboratory and ISO-based development processes, its quality teams conduct rigorous tests and provide reports as required to ensure durable, high-performance products across multiple end-use industries
Mis-handling risks
The company uses inflammable raw materials and heavy machinery, exposing it to risks of fire, accidents, and operational disruptions if materials are mishandled. Such incidents could result in personal injury, property damage, environmental harm, financial losses, and potential legal liabilities
Environmental limitations & government regulations
Artificial leather has environmental limitations due to non-biodegradable materials and fossil fuel–based components, which may attract stricter government regulations. Any restrictions on the production or use of artificial leather could adversely impact the company’s business, revenue, and profitability
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.6 crore, of 984,400 shares. It also consists of a fresh issue of Rs 32.9 crore.
The promoters of the company are Anilkumar Prakashchandra Agrawal, Sanjaykumar Kantilal Patel, Ankit Anilbhai Agrawal, Mohit Ashokkumar Agrawal, Rohit Dineshbhai Agrawal, Rutvik Patel and Shubham Sunilbhai Agrawal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 40.0 - 47.0.
The IPO application opens on Jan 16, 2026 and closes on Jan 20, 2026.
The minimum lot size for the IPO is 6000. The maximum lot size for the IPO is 6000.
For all category investors, the minimum application amount for this IPO is Rs. 240,000.0, the maximum value for this IPO is Rs 282,000.0.
This IPO will be allotted on Jan 21, 2026.
The refund will be credited to your account on Jan 22, 2026.
The allotted shares will be credited to your demat on Jan 22, 2026.
Aritas Vinyl Ltd.’s shares listed on the stock exchanges on Jan 23, 2026.