Aritas Vinyl IPO was launched through the Book Built SME route by Aritas Vinyl Limited. The public issue included both a fresh issue of equity shares and an offer for sale by an existing shareholder. Through the fresh issue, the company sought to raise capital for strengthening its manufacturing operations and supporting future expansion, while the offer for sale enabled the selling shareholder to partially monetise its investment. According to the company’s stated objectives, the fresh issue proceeds were planned to be utilised for setting up a solar power project, meeting additional working capital requirements, and funding general corporate purposes. After the completion of the IPO process, the company’s equity shares were listed on the BSE SME platform.
Aritas Vinyl Limited is an Indian manufacturer of polyurethane (PU) synthetic leather and polyvinyl chloride (PVC) coated fabrics used across a wide range of industrial and consumer applications. The company’s products cater to industries such as footwear, furniture, automotive, luggage, upholstery, fashion accessories, sports goods, and several other manufacturing sectors. It develops coated fabric solutions that are designed to provide durability, flexibility, and consistent product quality while meeting the diverse requirements of its customers.
The company’s manufacturing operations cover the complete production process, beginning with raw material procurement and extending through coating, finishing, quality inspection, packaging, and dispatch. Its manufacturing facilities are equipped with modern production systems that support efficient manufacturing and enable the company to supply products with customised specifications. By maintaining quality standards throughout the production cycle, the company aims to deliver reliable coated fabric solutions for both domestic and industrial markets.
Aritas Vinyl follows a growth strategy focused on expanding production capacity, improving manufacturing efficiency, strengthening product quality, and adopting sustainable operating practices. The proposed investment in a solar power project is expected to improve energy efficiency and optimise manufacturing costs over the long term. Along with expanding its manufacturing capabilities, the company also continues to focus on developing long-term customer relationships and broadening its product portfolio.
India’s technical textiles and coated fabric industry continues to benefit from increasing demand across automotive, footwear, furniture, infrastructure, and consumer goods industries. Rising industrialisation, expanding manufacturing activities, and greater use of synthetic materials across various sectors are creating favourable growth opportunities for companies engaged in technical textile manufacturing.
Since the IPO has already been completed and the company’s shares are listed on the stock exchange, investors should carefully evaluate the company’s financial performance, manufacturing capabilities, industry outlook, competitive strengths, operational efficiency, and long-term business prospects before making any investment decision.
Aritas Vinyl IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Aritas Vinyl IPO |
| Company Name | Aritas Vinyl Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹40 to ₹47 Per Share |
| Issue Size | ₹38 Crore |
| Fresh Issue | ₹33 Crore |
| Offer for Sale | 9,84,400 Equity Shares |
| Total Issue Size | ₹38 Crore |
| IPO Open Date | 16 January 2026 |
| IPO Close Date | 20 January 2026 |
| Basis of Allotment | 21 January 2026 |
| Refund Initiation | 22 January 2026 |
| Shares Credited to Demat Account | 22 January 2026 |
| Listing Date | 23 January 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 3,000 Equity Shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Interactive Financial Services Limited |
The public issue consisted of a fresh issue of equity shares along with an offer for sale by an existing shareholder. The capital proposed to be raised through the fresh issue was intended to strengthen manufacturing operations, support the development of a solar power project, meet working capital requirements, and fund general business activities. These initiatives are expected to improve operational efficiency and provide a stronger foundation for the company’s long-term growth strategy.
Aritas Vinyl IPO Dates
The schedule for the Aritas Vinyl IPO is provided below. These dates represent the important stages of the public issue, beginning with the opening of the subscription period and ending with the listing of the company’s equity shares on the stock exchange.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 16 January 2026 |
| IPO Closing Date | 20 January 2026 |
| Basis of Allotment | 21 January 2026 |
| Refund Initiation | 22 January 2026 |
| Shares Credited to Demat Account | 22 January 2026 |
| Listing Date | 23 January 2026 |
After the basis of allotment was finalised, successful applicants received the allotted equity shares in their demat accounts before trading commenced on the BSE SME platform. Applicants who did not receive an allotment were issued refunds according to the prescribed IPO schedule.
Aritas Vinyl IPO Reservation
The equity shares offered through the public issue were allocated among different categories of investors in accordance with the regulatory framework applicable to SME public offerings.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category depended on the number of valid applications received during the subscription period and the applicable regulations governing SME IPOs.
Aritas Vinyl IPO Lot Size
Applications for the IPO were accepted in the prescribed lot size announced before the issue opened for subscription.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2 Lots (6,000 Shares) | ₹2,82,000 |
| Retail Maximum | 2 Lots (6,000 Shares) | ₹2,82,000 |
| HNI Minimum | 8 Lots (24,000 Shares) | ₹11,28,000 |
The investment values shown above are calculated using the upper price band of ₹47 per equity share. Investors were required to apply in multiples of the specified lot size while submitting their IPO applications.
About Aritas Vinyl Limited
Aritas Vinyl Limited is an Indian manufacturer of polyurethane (PU) synthetic leather and polyvinyl chloride (PVC) coated fabrics used across a wide range of industrial and consumer applications. The company supplies coated fabric products to industries such as footwear, automotive, furniture, luggage, upholstery, sports goods, fashion accessories, and other manufacturing sectors. By focusing on product quality and manufacturing efficiency, the company aims to provide customised solutions that meet the diverse requirements of its customers.
The company operates integrated manufacturing facilities equipped with modern coating and finishing technology that support the complete production cycle. Its operations include raw material procurement, coating, embossing, finishing, quality inspection, packaging, and dispatch of finished products. The manufacturing process is designed to maintain product consistency while offering flexibility to develop customised coated fabric solutions based on customer specifications.
Over the years, Aritas Vinyl Limited has strengthened its manufacturing capabilities by expanding production capacity, adopting modern technology, and improving operational efficiency. The company also focuses on maintaining long-term customer relationships by delivering quality products, ensuring timely supplies, and continuously enhancing its product portfolio. These initiatives support the company’s objective of achieving sustainable business growth while strengthening its position in the technical textiles industry.
Business Operations
Aritas Vinyl Limited operates across multiple manufacturing activities within the coated fabrics and technical textiles industry.
- PU Synthetic Leather Manufacturing – The company manufactures polyurethane synthetic leather used in footwear, furniture, automotive interiors, fashion accessories, and industrial applications.
- PVC Coated Fabrics – It produces PVC-coated fabrics designed for luggage, upholstery, protective covers, sports goods, and various commercial applications.
- Customised Product Development – The company develops coated fabrics with customised colours, textures, finishes, and specifications based on customer requirements.
- Coating and Finishing Operations – Manufacturing activities include coating, embossing, surface finishing, lamination, and other value-added production processes.
- Quality Control – Products undergo quality inspection and testing throughout the manufacturing process to maintain consistency, durability, and performance standards.
- Raw Material Management – The company follows structured procurement and inventory management practices to ensure uninterrupted production.
- Industrial Supply – Aritas Vinyl supplies coated fabric products to customers operating across multiple industries through long-term business relationships.
- Manufacturing Infrastructure – Modern machinery and production technology support efficient manufacturing while enabling higher production capacity.
- Product Innovation – Continuous product development helps the company introduce improved coated fabric solutions that address changing customer requirements.
- Customer Support – The company works closely with customers by providing technical assistance, customised solutions, and reliable product delivery.
Industry Overview
India’s technical textiles industry has emerged as one of the fastest-growing segments of the manufacturing sector due to increasing industrialisation, infrastructure development, and expanding applications across multiple industries. Demand for coated fabrics and synthetic leather products continues to increase with growth in the footwear, automotive, furniture, luggage, and consumer goods industries.
Government initiatives supporting domestic manufacturing, technical textiles, and infrastructure development have created favourable opportunities for manufacturers operating in this sector. Rising demand for durable, lightweight, and cost-effective materials has further accelerated the adoption of coated fabrics across commercial and industrial applications.
The industry is also benefiting from technological advancements in coating processes, improved manufacturing efficiency, and increasing customer preference for customised products. Companies that continue investing in production capacity, product quality, innovation, and sustainable manufacturing practices are expected to benefit from the long-term growth potential of India’s technical textiles industry.
Business Strategy
Aritas Vinyl Limited aims to strengthen its market position by expanding manufacturing capacity, improving operational efficiency, and enhancing its product portfolio. The company continues to invest in modern production technology, quality improvement initiatives, and process optimisation to support higher production volumes and consistent product quality.
The management also focuses on improving energy efficiency through the proposed solar power project while strengthening customer relationships across various industries. Continuous product development, manufacturing excellence, and efficient resource utilisation remain important elements of the company’s long-term growth strategy.
By combining manufacturing expertise, product innovation, modern technology, and customer-focused solutions, Aritas Vinyl Limited seeks to strengthen its presence in the technical textiles industry while achieving sustainable long-term business growth.
Aritas Vinyl IPO Financial Information
The financial performance of a company provides valuable insights into its operational efficiency, profitability, and long-term financial strength. By analysing financial statements over multiple financial years, investors can assess revenue growth, earnings performance, capital utilisation, and the company’s ability to support future expansion. Financial analysis, together with an understanding of the company’s business model and industry outlook, helps investors make informed investment decisions.
Aritas Vinyl Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹172.54 Crore | ₹205.61 Crore | ₹248.79 Crore |
| Total Income | ₹174.08 Crore | ₹207.15 Crore | ₹250.36 Crore |
| EBITDA | ₹20.74 Crore | ₹27.36 Crore | ₹35.91 Crore |
| Profit Before Tax (PBT) | ₹11.43 Crore | ₹16.24 Crore | ₹22.68 Crore |
| Profit After Tax (PAT) | ₹8.51 Crore | ₹12.11 Crore | ₹16.92 Crore |
| Net Worth | ₹46.73 Crore | ₹58.91 Crore | ₹75.84 Crore |
| Total Borrowings | ₹39.82 Crore | ₹37.46 Crore | ₹34.15 Crore |
Aritas Vinyl Limited has demonstrated consistent financial growth over the past three financial years. The company reported steady improvement in revenue while increasing profitability and strengthening its net worth. Borrowings remained at manageable levels, reflecting disciplined financial management. Investors should evaluate these financial results along with the company’s manufacturing capabilities, industry outlook, competitive position, and future expansion plans before making any investment decision.
Aritas Vinyl IPO Key Performance Indicators (KPIs)
Key financial ratios provide additional information about the company’s profitability, capital utilisation, operational efficiency, and financial position. These indicators help investors assess the company’s overall business performance and valuation.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 22.31% |
| Return on Capital Employed (ROCE) | 26.74% |
| Return on Net Worth (RONW) | 22.31% |
| EBITDA Margin | 14.35% |
| PAT Margin | 6.80% |
| Debt-to-Equity Ratio | 0.45 |
| Earnings Per Share (EPS) | ₹8.12 |
| Net Asset Value (NAV) Per Share | ₹36.42 |
| Price to Earnings (P/E) | 5.79x |
The financial indicators reflect healthy profitability, improving operating performance, and efficient utilisation of shareholders’ funds. A balanced capital structure and improving return ratios further strengthen the company’s financial profile. However, investors should consider these financial ratios together with industry conditions, business strategy, valuation, and long-term growth prospects before making any investment decision.
Objects of the Aritas Vinyl IPO
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Setting up a solar power project.
- Meeting working capital requirements.
- General corporate purposes.
The proposed utilisation of the IPO proceeds is expected to improve manufacturing efficiency, optimise energy costs, strengthen working capital, and enhance operational flexibility. These initiatives are intended to support the company’s long-term expansion plans while improving overall business performance.
Aritas Vinyl IPO Listing Performance
The listing performance reflects how the company’s shares performed on the stock exchange on the first day of trading after the IPO process was completed. Although listing gains or discounts indicate the market’s initial response to the public issue, long-term investment performance depends on the company’s financial strength, operational efficiency, business strategy, and ability to sustain future growth.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 23 January 2026 |
| Issue Price | ₹47 Per Share |
| Listing Price | ₹52.00 Per Share |
| Listing Gain | ₹5.00 Per Share |
| Listing Gain (%) | 10.64% |
Aritas Vinyl Limited commenced trading on the BSE SME platform at a premium over its issue price, reflecting positive investor participation on the listing day. While the stock delivered listing gains, its long-term performance will primarily depend on the company’s manufacturing growth, operational execution, profitability, and future business expansion.
Aritas Vinyl IPO Subscription Status
The subscription details indicate the level of demand received from different categories of investors during the IPO bidding period. Strong subscription figures generally reflect healthy investor interest; however, investment decisions should always be based on the company’s financial performance, valuation, competitive strengths, and long-term business prospects.
Aritas Vinyl IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 46.87 Times |
| Non-Institutional Investors (NII) | 118.94 Times |
| Retail Individual Investors (RII) | 84.26 Times |
| Total Subscription | 76.18 Times |
The IPO witnessed healthy participation across all investor categories. The Non-Institutional Investor category recorded the highest subscription level, while Qualified Institutional Buyers and Retail Individual Investors also subscribed to the issue multiple times. The overall response indicated broad market interest in the public offering.
Aritas Vinyl IPO Review
Aritas Vinyl Limited operates in the technical textiles industry by manufacturing polyurethane synthetic leather and PVC-coated fabrics used across multiple industrial and consumer applications. Its products cater to sectors such as footwear, automotive, furniture, luggage, upholstery, sports goods, and fashion accessories, enabling the company to maintain a diversified customer base.
The company has developed integrated manufacturing capabilities supported by modern production facilities, quality control systems, and customised product development. Continuous investment in manufacturing technology, operational efficiency, and customer-focused solutions enables the company to strengthen its market presence while meeting evolving industry requirements.
From a financial perspective, the company has demonstrated consistent growth in revenue, profitability, and net worth during recent financial years. The proposed utilisation of IPO proceeds towards establishing a solar power project, strengthening working capital, and supporting general corporate activities is expected to improve operational efficiency and support future expansion.
However, investors should also consider factors such as fluctuations in raw material prices, competitive pressure within the technical textiles industry, dependence on customer demand across multiple sectors, changing market conditions, and execution risks associated with expansion plans before making an investment decision.
Overall, Aritas Vinyl Limited operates in a growing manufacturing industry supported by increasing demand for coated fabrics and technical textile products. Investors should carefully evaluate the company’s financial performance, valuation, manufacturing capabilities, business strategy, and long-term growth prospects before considering an investment.
Aritas Vinyl IPO Strengths
Aritas Vinyl Limited has established its business through manufacturing expertise, diversified product offerings, and long-standing customer relationships.
- Established manufacturer of PU synthetic leather and PVC-coated fabrics.
- Diversified customer base across multiple industrial sectors.
- Modern manufacturing infrastructure with integrated production facilities.
- Consistent growth in revenue and profitability over recent financial years.
- Focus on operational efficiency and sustainable manufacturing initiatives.
- Benefits from the long-term growth potential of India’s technical textiles industry.
Aritas Vinyl IPO Risk Factors
Like other manufacturing companies operating in the technical textiles sector, Aritas Vinyl Limited is exposed to several business and industry-related risks that investors should evaluate carefully.
- Volatility in raw material prices may impact operating margins.
- Demand depends on the performance of end-user industries such as footwear, automotive, and furniture.
- Intense competition within the coated fabrics and synthetic leather market may affect future growth.
- Expansion projects require efficient execution and optimal utilisation of capital.
- Changes in environmental regulations or manufacturing policies could influence business operations.
- Economic slowdowns or reduced industrial activity may impact customer demand and overall financial performance.
Aritas Vinyl IPO Promoters
Aritas Vinyl Limited is promoted by experienced professionals who have contributed to the company’s growth in the coated fabrics and technical textiles industry. The promoters have been actively involved in expanding the company’s manufacturing capabilities, strengthening customer relationships, improving operational efficiency, and driving long-term business development. Their strategic focus remains on sustainable growth, product quality, and continuous capacity enhancement.
Aritas Vinyl IPO Promoters Details
| Promoter | Designation |
|---|---|
| Suresh Patel | Promoter & Managing Director |
| Bhavna Patel | Promoter & Whole-Time Director |
Aritas Vinyl IPO Management Team
The company is managed by professionals with experience in manufacturing, finance, operations, quality control, compliance, and business development. The management team focuses on improving manufacturing efficiency, maintaining product quality, expanding market reach, and supporting the company’s long-term growth objectives.
| Name | Designation |
|---|---|
| Suresh Patel | Managing Director |
| Bhavna Patel | Whole-Time Director |
| Hitesh Shah | Chief Financial Officer |
| Priyanka Desai | Company Secretary & Compliance Officer |
Aritas Vinyl IPO Registrar Details
The registrar was responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds where applicable, and providing investor-related services during the public issue.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://www.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Email ID | [email protected] |
| Contact Number | +91-22-6263 8200 |
Aritas Vinyl IPO Lead Manager Details
The Book Running Lead Manager coordinated the IPO process, ensured regulatory compliance, managed marketing activities, and assisted the company throughout the public issue and listing process.
| Particular | Details |
|---|---|
| Lead Manager | Interactive Financial Services Limited |
| Website | https://www.ifinservices.in |
| Email ID | [email protected] |
| Contact Number | +91-79-4908 8000 |
Aritas Vinyl Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Aritas Vinyl Limited |
| Registered Office | Ahmedabad, Gujarat, India |
| Website | https://www.aritasvinyl.com |
| Email ID | [email protected] |
How to Check Aritas Vinyl IPO Allotment Status
Investors could check the IPO allotment status after the basis of allotment was finalised through the registrar’s website or the BSE IPO portal.
Through Bigshare Services Private Limited
- Visit the official IPO allotment portal of Bigshare Services Private Limited.
- Select Aritas Vinyl IPO from the list of available IPOs.
- Choose any one of the available search options such as Application Number, PAN, or DP/Client ID.
- Enter the required details in the respective field.
- Click on Search to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Equity as the issue type.
- Choose Aritas Vinyl IPO from the company list.
- Enter your PAN Number or Application Number.
- Complete the verification process.
- Click on Search to check your allotment status.
Frequently Asked Questions (FAQs)
What is the Aritas Vinyl IPO?
Aritas Vinyl IPO was a Book Built SME public issue comprising a fresh issue of equity shares and an offer for sale.
What was the price band of the Aritas Vinyl IPO?
The IPO was offered at a price band of ₹40 to ₹47 per equity share.
What was the issue size of the Aritas Vinyl IPO?
The total issue size of the IPO was ₹38 Crore.
When did the Aritas Vinyl IPO open and close?
The IPO opened for subscription on 16 January 2026 and closed on 20 January 2026.
On which stock exchange are Aritas Vinyl shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the Aritas Vinyl IPO?
Bigshare Services Private Limited acted as the registrar to the issue.
Who was the Book Running Lead Manager for the Aritas Vinyl IPO?
The IPO was managed by Interactive Financial Services Limited as the Book Running Lead Manager.
What was the minimum lot size for the Aritas Vinyl IPO?
The minimum application size was 3,000 equity shares (1 lot).
What does Aritas Vinyl Limited do?
The company manufactures polyurethane (PU) synthetic leather and PVC-coated fabrics used across industries such as footwear, automotive, furniture, luggage, upholstery, sports goods, and fashion accessories.
What were the objectives of the Aritas Vinyl IPO?
The company proposed to utilise the fresh issue proceeds for setting up a solar power project, meeting working capital requirements, and funding general corporate purposes.
