Aritas Vinyl IPO open date is January 16, 2026 and the IPO will close on January 20, 2026. Aritas Vinyl IPO is a Book Build Issue. The company to raise around ₹38 crores via IPO that comprises fresh issue of ₹33 crores and offer for sale up to 9,84,400 equity shares with face value of ₹10 each.
Aritas Vinyl IPO price band is ₹40 to ₹47 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Aritas Vinyl IPO to list on BSE SME on January 23, 2026. The allotment of Aritas Vinyl IPO date is January 21, 2026.
The company reported revenue of ₹98.02 crores in 2025 against ₹69.25 crores in 2024. The company reported profit of ₹4.13 crores in 2025 against profit of ₹1.67 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.
About Company
Aritas Vinyl Private Limited, founded in 2020, is one of the leading companies involved in the manufacturing of technical textiles. The company utilizes the latest technology, known as Transfer Coating Technology, to produce artificial leather, also referred to as PU Synthetic leather, and PVC-coated leather. Aritas Vinyl manufactures Artificial leather to cater to the automotive, fashion, and interior design industries.
Unlike firms that produce animal leathers, Aritas has been known to offer synthetic leather, following the sustainable and environmentally friendly approach. Its product portfolio consists of Automotive upholstery, material used to cover vehicle interiors, fashion accessories like bags, wallets, laptop sleeves, and purses, and interior design for wall coverings and furniture. The company sells its products through distributors, wholesalers, manufacturers, and supplies to foreign countries like Greece, Oman, the UAE, Sri Lanka, the USA, and SEZs as well.
Incorporated in 2020, Aritas Vinyl Limited is engaged in the manufacturing and trading of technical textiles, primarily PU synthetic leather and PVC-coated artificial leather, using Transfer Coating Technology.
Products cater to automotive, fashion accessories, and interior design industries, promoting synthetic leather as an alternative to animal leather.
Supplies to distributors, wholesalers, manufacturers, and exports to Greece, Oman, UAE, Sri Lanka, USA, and SEZs.
Manufacturing facility located at Kubadthal, Ahmedabad, spread over 6,067 sq. meters, with an annual capacity of 7.8 million sq. meters.
Product applications include:
• Automotive upholstery (seats, trims, steering covers)
• Fashion accessories (bags, wallets, laptop sleeves)
• Interior solutions (wall coverings, upholstery)
IPO proceeds will be used for solar power project capex (₹4.26 cr), working capital (₹20.45 cr), and general corporate purposes.
Strength
High quality & customization capability – Offers a wide range of textures, colours, and specifications across industries.
Experienced promoters with market knowledge – Industry understanding supports customer acquisition and product positioning.
Fully integrated manufacturing facility – Strategic location and in-house production improve efficiency and cost control.
Weakness
Limited manufacturing operating history – Short track record may make future performance assessment difficult.
Regulatory & compliance risk – Preferential allotment in FY21 without valuation report may lead to regulatory scrutiny.
Promoter group conflict risk – Group company operating in the same business without non-compete protection may impact competitiveness.
Aritas Vinyl
January 16, 2026 – January 20, 2026
| GMP Rumors * | ₹0 |
|---|---|
| Price | ₹40 - ₹47 |
| Lot size | 3000 |
| Issue size | ₹37.52 cr |
| Allotment | Jan 21, 2026 |
| Listing | Jan 23, 2026 |
Aritas Vinyl Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 6000 | 282000 | 752 |
| sHNI | 3 | 9000 | 423000 | 111 |
| bHNI | 8 | 24000 | 1128000 | 222 |
Aritas Vinyl Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 7983000 | 100% |
| QIB | 78000 | 0.98% |
| HNI | 2991000 | 37.47% |
| INDIVIDUAL | 4512000 | 56.52% |
| Market Maker | 402000 | 5.04% |
Aritas Vinyl About
IPO Details
| Total Issue Size | 79,83,000 shares (aggregating up to ₹37.52 Cr) |
| Fresh Issue | 69,98,600 shares (aggregating up to ₹32.89 Cr) |
| Offer For Sale | 9,84,400 shares (aggregating up to ₹4.63 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,26,90,080 shares |
| Share Holding Post Issue | 1,96,88,680 shares |
| Reserved for Market Maker | 4,02,000 shares (aggregating up to ₹1.88 Cr) |
| Market Maker | Giriraj Stock Broking |
Key Performance Indicators (KPI)
| KPI | Aug-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROE | 11.16% | 31.23% | 32.31% |
| ROCE | 11.14% | 21.99% | 6.60% |
| EPS (BASIC) | 4.58 | 3.77 | 1.62 |
| P/E Pre IPO | 14.43 | ||
| P/E Post IPO | 15.93 |
Company Financial (In ₹Crore)
| Period Ended | Aug-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 98.25 | 95.26 | 76.12 | 57.95 |
| Total Income | 40.58 | 98.02 | 69.25 | 51.42 |
| Profit After Tax | 2.42 | 4.13 | 1.67 | 0.99 |
| EBITDA | 4.55 | 8.63 | 4.65 | 3.09 |
| NET Worth | 22.77 | 20.27 | 5.99 | 4.32 |
| Reserves and Surplus | 10.21 | 7.79 | 3.49 | 1.82 |
| Total Borrowing | 37.78 | 36.82 | 52.79 | 33.1 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Aritas Vinyl Limited | 14.43 | - | 10.00 |
| Mirza International Ltd. | 39.71 | 36.93 | 2.00 |
| Amin Tannery Ltd | 58.67 | 1.76 | 1.00 |
Source:RHP,we have shown the P/E ratio of the IPO issuer company based on the pre-IPO valuation.*CMP as on January 02, 2026.
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Aritas Vinyl Limited | 15.97 | 20.39 | 13.14 |
| Mirza International Ltd. | 33.56 | -0.86 | 0.93 |
| Amin Tannery Ltd | 1.19 | 2.27 | 0.03 |
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