Aritas Vinyl IPO
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Aritas Vinyl IPO details
Schedule of Aritas Vinyl
| Issue open date | 16 Jan 2026 |
| Issue close date | 20 Jan 2026 |
| UPI mandate deadline | 20 Jan 2026 (5 PM) |
| Allotment finalization | 21 Jan 2026 |
| Refund initiation | 22 Jan 2026 |
| Share credit | 22 Jan 2026 |
| Listing date | 23 Jan 2026 |
| Mandate end date | 04 Feb 2026 |
| Lock-in end date for anchor investors (50%) | 20 Feb 2026 |
| Lock-in end date for anchor investors (remaining) | 20 Apr 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Aritas Vinyl
Aritas Vinyl Limited was incorporated on April 17, 2020, in Ahmedabad, Gujarat. The company was originally formed as a private limited entity and was converted into a public limited company in January 2025. It is promoted by Anilkumar Prakashchandra Agrawal, Sanjaykumar Kantilal Patel, Ankit Anilbhai Agrawal, Mohit Ashokkumar Agrawal, Rohit Dineshbhai Agrawal, Rutvik Patel and Shubham Sunilbhai Agrawal. The company operates in the technical textiles segment and is engaged in manufacturing artificial leather, including PU synthetic leather and PVC-coated leather, using transfer coating technology. Its products are used across furniture and upholstery, automotive interiors, footwear, fashion accessories, healthcare, hospitality, and marine applications. Aritas Vinyl supplies to distributors, wholesalers, and manufacturers, and also exports to multiple international markets and SEZ units. The business model focuses on in-house manufacturing, quality control through internal testing facilities, and product customisation based on customer specifications. Its strengths lie in cost-efficient production, product versatility, growing export presence, and experienced promoter-led management
Financials of Aritas Vinyl
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 37.52 |
| Fresh Issue – Proceeds go to the company | 32.89 |
| Offer for sale – Proceeds go to the existing investors | 4.63 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital Expenditure – Solar Project | 4.26 (12.96%) |
| Working capital requirements | 20.45 (62.18%) |
| General corporate purposes | 8.18 (24.86%) |
Strengths
- Operates in the fast-growing technical textiles and synthetic leather segment.
- In-house manufacturing, utilising transfer coating technology, ensures quality control.
- Diverse end-use applications across automotive, furniture, footwear, and fashion.
- Established export presence across multiple countries and SEZ units.
- Experienced promoters with industry and operational expertise.
Risks
- Limited operating history with commercial manufacturing starting in recent years.
- Exposure to environmental regulations related to synthetic leather production.
- Dependence on the availability and pricing of key raw materials like PVC and PU.
- Competition from natural leather and other synthetic leather manufacturers.
- High working capital requirements are impacting cash flow stability.
Subscription Figures for Aritas Vinyl
As per media reports (Link), the Grey Market Premium (GMP) of Aritas Vinyl is reported at ₹9 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 05:00 PM on January 16, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 0.78 | 0 | 0x |
| NII | 33.93 | 23.79 | 0.70x |
| Retail | 45.12 | 11.70 | 0.26x |
| Total | 79.83 | 35.49 | 0.44x |