Aritas Vinyl IPO: GMP, Price, Analysis, And Details

Aritas Vinyl IPO- Company Analysis

Aritas Vinyl IPO under the SME IPO category is a bookbuild issue of Rs. 37.52 Cr by Aritas Vinyl Limited and is utilizing the most recent technology known as Transfer Coating Technology to manufacture and trade technical textiles, including PVC-coated leather and artificial leather, also known as PU synthetic leather.

The business manufactures PVC vinyl, synthetic leather, and associated goods for use in the automobile, fashion, and interior design sectors. The company promotes synthetic leather over conventional animal leather by supplying goods to distributors, wholesalers, manufacturers, and exporting to nations including Greece, Oman, the United Arab Emirates, Sri Lanka, the United States, and Special Economic Zones.

Goods:

• Fashion Accessories

• Automobile Upholstery 

• Design of Interiors.
  
  

Aritas Vinyl IPO Details

The Aritas Vinyl IPO date of opening is 16 Jan 2026, its initial public offering will end on 20 Jan, IPO allotment on Jan 21 and refund initiation on Jan 22, 2026.

The Rs. 37.52 crore new SME IPO comprises a combination of fresh issue of 0.70 crore shares (Rs. 32.89 Cr) and offer for sale of 0.10 crore shares (Rs. 4.63 crores).

The Aritas Vinyl IPO listing date (expected) might be on Friday, Jan 23, 2026, and listing at the BSE and SME. 

The Aritas Vinyl IPO price band is Rs. 40 to Rs. 47.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Jan 16, 2026
IPO Closing Date	Jan 20, 2026
IPO Allotment Date	Jan 21, 2026
Refund Initiation	Jan 22, 2026
IPO Listing Date	Jan 23, 2026

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Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	95.26	76.12	57.95
Total Income	98.02	69.25	51.42
PAT	4.13	1.67	0.99
EBITDA	8.63	4.65	3.09
Net Worth	20.27	5.99	4.32
Reserves & Surplus	7.79	3.49	1.82
Total Borrowing	36.82	52.79	33.10

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	866.24	(905.62)	(768.65)
Net Cash Flow Investing Activities	(86.20)	(829.76)	(71.04)
Net Cash Flow Financing Activities	(813.31)	1770.39	877.20

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Capital expenditure for a solar power project. ~ Rs. 4.26 Cr.

• Working Capital. ~ Rs. 20.45 Cr.

• General Corporate Purposes.
  
  

Listed Peers of Aritas Vinyl Ltd.

Name of the Company	Face Value (₹)	EPS (₹)	P/E Ratio (x)
Mizra International Limited	0.93	39.71	2
Amin Tannery Limited	0.03	58.67	1

 

Valuation

KPI	Value
ROE	31.23%
ROCE	21.99%
Debt / Equity	1.80
RoNW	20.36%
PAT Margin	4.23%
EBITDA Margin	8.81%
Price to Book Value	2.94

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 3.77 from the last year, the resulting P/E ratio is 12.46x.

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IPO's Strengths 

• Customization and quality.

• Seasoned promoters with solid understanding of the market.

• A strategically located, fully integrated manufacturing facility.

• Increased production capacity in three years.

• Long-standing connections with clients from a variety of industries.

IPO’s Weaknesses

• Short history of manufacturing operations.

• Certain raw materials are highly flammable and any fire or mishap might put us at risk for liabilities, lost income and higher costs.

• It must compete with real leather manufacturers since artificial leather is not as durable as real leather.

 

Aritas Vinyl IPO GMP (Grey Market Premium)

Aritas Vinyl IPO GMP today is Rs. 0 as of 13 Jan 2026 while writing this information. With a price band set at Rs. 47 this suggests that the estimated listing price of the IPO could be around Rs. 47, indicating a gain/loss of 0%.

 

Aritas Vinyl IPO Summary

IPO Opening & Closing Date	16 Jan, 2026 to 20 Jan, 2026
Face Value	Rs. 10 per Share
Issue Price	Rs. 40 to Rs. 47 per Share.
Lot Size	3000 Shares
Issue Size	79,83,000 Shares (Rs. 38 Cr)
Offer for Sale	9,84,400 Shares (Rs. 5 Cr)
Fresh Issue	65,96,600 Shares (Rs. 31 Cr)
Listing at	BSE, SME
Issue Type	Bookbuild issue IPO
Registrar	Bigshare Services Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (6000 Shares) for Rs. 2,82,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (9000 Shares) for Rs. 4,23,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

Aritas Vinyl IPO Allotment Status

To check the Aritas Vinyl IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Aritas Vinyl Ltd.

• Mr. Anilkumar Prakashchandra Agrawal

• Mr. Sanjaykumar Kantilal Patel

• Mr. Ankit Anilbhai Agrawal

• Mr. Mohit Ashokkumar Agrawal

• Mr. Rohit Dineshbhai Agrawal

• Mr. Rutvik Patel 

• Mr. Shubham Sunilbhai Agrawal

Pre-Issue Promoter Shareholding	47.22%
Post-Issue Promoter Shareholding	27.99%

 

IPO Lead Managers

• Interactive Financial Services Ltd. 
  
  

Dividend Policy

The company has not paid a dividend during the last three financial years.

 

 

Conclusion

With a solid ROE and rising financials, Aritas Vinyl IPO provides exposure to India's expanding synthetic leather and technical textile sector. It offers a specialized manufacturing potential in the SME sector, supported by its export presence and growing production capacity. However, investors should apply with a medium-to-high risk attitude due to the significant debt and short operating experience.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.