Aritas Vinyl IPO is a book-built issue worth ₹38 Crore. Aritas Vinyl IPO is a combination of a fresh issue of ₹32.89 crores and an offer for sale of 0.10 crore shares aggregating to ₹4.63 crores. The IPO will open for subscription on January 16, 2026, and close on January 20, 2026.
The basis of allotment is expected to be finalised on January 21, 2026, with tentative listing scheduled on BSE SME on January 23, 2026. The price band for the Aritas Vinyl IPO has been fixed at ₹40 to ₹47 per share.
Investors can bid for Aritas Vinyl IPO with a minimum of 2 lots, having 6,000 shares. For retail investors, the minimum investment required is ₹2,82,000. For high-net-worth investors (bHNI), the lot size stands at 8 lots, equal to 24,000 shares, amounting to ₹11,28,000.
Interactive Financial Services Ltd is the book running lead manager (BRLM), and Bigshare Services Pvt Ltd is the registrar of the issue. Detailed information is available at the Aritas Vinyl IPO RHP.
Aritas Vinyl IPO Objectives
The company proposes to use the funds raised from the fresh issue for the following:
- Capital expenditure for a solar power project
- Working capital requirements
- General corporate purposes
About Aritas Vinyl Limited
Incorporated in 2020, Aritas Vinyl Limited specialises in the manufacturing and trading of advanced technical textiles, including artificial leather commonly referred to as PU synthetic leather and PVC-coated leather. The company utilises state-of-the-art Transfer Coating Technology to ensure superior quality and performance.
Aritas Vinyl offers a wide range of products such as artificial leather, PVC vinyl, and allied materials, catering to diverse industries including automotive, fashion, and interior design. Its customer base includes distributors, wholesalers, and manufacturers, with a strong export presence in markets such as Greece, Oman, the UAE, Sri Lanka, the USA, and SEZs. The company actively promotes sustainable synthetic leather alternatives over conventional animal leather.
The manufacturing unit, located in Kubadthal, Ahmedabad, spans approximately 6,067 square meters and has an impressive annual production capacity of 7.8 million square meters, enabling efficient fulfilment of varied client demands.
Product Portfolio:
- Automotive Upholstery: Polyethene leather and PVC vinyl are used for seating, door panels, steering wheel covers, and other automotive applications.
- Fashion Accessories: High-quality artificial leather for bags, wallets, laptop sleeves, and purses, available in a wide array of colours, finishes, and textures.
- Interior Design: Durable PVC vinyl solutions for wall coverings and upholstery, suitable for both residential and commercial interiors.
Industry Outlook
- India is the 5th largest technical textiles market globally, growing at a robust CAGR of 8–10% over the past five years, with a market size of US$21.95 billion in FY 2021–22, highlighting strong and sustained industry expansion.
- The technical textiles segment contributes nearly 15% of India’s overall textile and apparel market, playing a vital role in manufacturing output, employment generation, and investment, while supporting India’s position as the second-largest textile employer globally.
- Technical textiles are extensively used across multiple high-growth sectors such as automotive, infrastructure, healthcare, agriculture, aerospace, sports, packaging, and protective equipment, underlining their increasing importance in modern industrial development.
- The Indian technical textiles industry holds immense growth potential, driven by technological advancements, value-chain upgradation, and favourable global dynamics, positioning it as a key contributor to India’s vision of becoming a developed nation by 2047, with significant opportunities in both domestic and untapped export markets.
How To Apply for the Aritas Vinyl IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Aritas Vinyl IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Aritas Vinyl IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Aritas Vinyl IPO
K Survey No. 1134, Near Elegant Vinyl Private Limited, Daskroi, Ahmedabad, Gujarat, India, 382430
Phone: 9998852850
E-mail:info@aritasvinyl.com
Aritas Vinyl IPO Reservation
| Investor Category | Shares Offered | Percentage (%) |
| Market Maker Shares Offered | 4,02,000 | 5.04 |
| - QIB Shares Offered | 78,000 | - |
| - QIB (Ex. Anchor) Shares | - | - |
| NII (HNI) Shares Offered | 29,91,000 | 37.47 |
| - bNII > ₹10L | 19,95,000 | 24.99 |
| - sNII < ₹10L | 9,96,000 | 12.48 |
| Retail Shares Offered | 45,12,000 | 56.52 |
| Total Shares Offered | 79,83,000 | 100.00 |
Aritas Vinyl IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 6,000 | ₹2,82,000 |
| Retail) (Max) | 2 | 6,000 | ₹2,82,000 |
| S-HNI (Min) | 3 | 9,000 | ₹4,23,000 |
| S-HNI (Max) | 7 | 21,000 | ₹9,87,000 |
| B-HNI (Min) | 8 | 24,000 | ₹11,28,000 |
Aritas Vinyl IPO Promoter Holding
Mr. Anilkumar Prakash Chandra Agrawal, Mr. Sanjay Kumar Kantilal Patel, Mr. Ankit Anilbhai Agrawal, Mr. Mohit Ashok Kumar Agrawal, Mr. Rohit Dineshbhai Agrawal, Mr. Rutvik Patel and Mr. Shubham Sunilbhai Agrawal are the promoters of the company.
| Share Holding Pre-Issue | 47.22% |
| Share Holding Post Issue | 27.99% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Aritas Vinyl IPO
| KPI (As of Aug 31, 2025) | Value |
| ROE (%) | 11.16 |
| ROCE (%) | 11.14 |
| RoNW (%) | 25.51 |
| PAT Margin (%) | 5.97 |
| EBITDA Margin (%) | 11.20 |
Aritas Vinyl IPO Registrar and Lead Managers
Aritas Vinyl IPO Lead Managers
Interactive Financial Services Ltd.
Registrar for Aritas Vinyl IPO
Bigshare Services Pvt Ltd
Contact Number:+91 22-62638200
Email Address:ipo@bigshareonline.com
Financial Performance of Aritas Vinyl Limited
| Particulars (in Cr) | Period Ended on Aug 31, 2025 | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
| 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 & Surplus | 10.21 | 7.79 | 3.49 | 1.82 |
| Total Borrowing | 37.78 | 36.82 | 52.79 | 33.10 |
Aritas Vinyl Peer Details
| Companies | CMP | EPS | PE Ratio | RONW (%) | NAV (Per Share) | Face Value |
| Aritas Vinyl Limited# | [•] | 13.14 | [•] | 20.39 | 15.97 | 10.00 |
| Peer Group | ||||||
| Mirza International Limited | 36.93 | 0.93 | 39.71 | -0.86 | 33.56 | 2.00 |
| Amin Tannery Limited | 1.76 | 0.03 | 58.67 | 2.27 | 1.19 | 1.00 |
Strengths and Opportunities of Aritas Vinyl Limited
- The company benefits from experienced promoters and senior management, led by Mr. Anil Kumar Agarwal and Mr. Sanjay Kumar Patel, who provide strong market insight and visionary leadership.
- It operates a fully integrated manufacturing facility near Ahmedabad, strategically equipped to produce technical textiles like PU synthetic leather and PVC-coated leather.
- The company rapidly enhanced its production capacity, starting at 42 lakh meters per year in 2022 and utilising 85% of capacity by the second year.
- It maintains long-standing relationships with a diverse customer base across industries such as furniture, footwear, automobile, healthcare, and fashion accessories, both domestically and internationally.
- Operational efficiency and cost minimisation remain key priorities, aimed at expanding production volumes, reducing fixed costs per unit, and improving profit margins.
- Market penetration and development strategies focus on geographic expansion and product diversification to tap into new domestic and overseas markets, reducing risk and driving growth.
- Continuous product innovation and R&D efforts allow the company to develop unique synthetic leather products tailored to specific customer needs, differentiating its offerings from traditional leather.
Risks and Threats of Aritas Vinyl Limited
- The company’s operations are vulnerable to fluctuations in local, regional, national, and international economic conditions.
- Intense competition from existing and new market players may negatively impact revenues and profitability.
- Political instability or changes in government policies in India could disrupt economic conditions and affect business performance.
- The company’s financial results heavily depend on market demand and supply dynamics for its products.
- Regulatory changes at national, state, or local levels may pose challenges to business operations and growth.
- Downgrades in India’s sovereign credit rating could adversely influence the company’s business environment and investor confidence.
- Natural disasters, man-made calamities, or failure to keep pace with customer needs and market trends could significantly impact operational and financial outcomes.
