Varmora Granito plans to become net-cash after IPO
Varmora Granito opened its IPO on September 22 and says it will become a net cash company after the IPO closes, according to CFO Bhavesh Koshti. The company plans to use most of the proceeds to clear existing debt and is considering a ₹100 crore acquisition for its faucet business.
Varmora Granito will become a net cash company once its initial public offering (IPO) closes, Chief Financial Officer Bhavesh Koshti said. The Gujarat-based ceramic and vitrified tiles maker opened its IPO today (September 22) and plans to use most of the proceeds to clear its existing debt.