Aritas Vinyl IPO: Check GMP, price range, subscription and other details

Aritas Vinyl’s IPO will open for subscription on Friday, with the issue hitting the market amid muted gray market sentiment. The Rs 38 crore book-built issue is trading at a gray market premium of 0%, indicating expectations of a flat quotation at current levels.The IPO, which will be completed on January 20, has a price tag of Rs 40 to Rs 47 per share and is expected to be listed on the BSE SME platform on January 23.

Aritas Vinyl’s public offer includes a fresh issue of shares worth Rs 32.9 crore and an offer for sale of Rs 4.6 crore by existing shareholders, taking the total issue size to around Rs 37.5 crore. Proceeds from the new issuance will be used primarily to finance working capital needs and capital expenditures for a solar energy project, along with general corporate purposes.

On the gray market, the IPO is currently trading at no premium above the issue price. A GMP of 0% suggests that unofficial market participants do not take into account any direct stock market gains. While gray market trends often reflect short-term sentiment, they are only a directional indicator and may change closer to the listing date depending on subscription response and broader market conditions.

The IPO structure is aimed at retail investors, with approximately 56.5% of the net offering reserved for the retail category. Non-institutional investors have been allocated approximately 37.5% of the issue, while qualified institutional buyers account for just under 1%. Part of the issue is also reserved for the market maker.

The minimum application size for retail investors is 6,000 shares, which translates to an investment of Rs 2.82 lakh at the top end of the price range.

Aritas Vinyl is engaged in the production and trading of artificial leather products, including PU artificial leather and PVC-coated leather. The company focuses on sectors such as automotive, fashion accessories and interior design, and also exports to markets such as the UAE, USA, Greece and Sri Lanka. The production facility in Ahmedabad has an annual capacity of approximately 7.8 million square meters. On the financial front, the company reported a total income of Rs 98 crore in FY25 and a profit after tax of Rs 4.1 crore. For the five months ended August 2025, profits stood at Rs 2.4 crore.

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