case₹7.3 Crpage 439
Company filed 56 criminal complaints under Section 138 NI Act for dishonoured cheques; aggregate amount ₹72.93 million (Filed by Company)
ListedMainboardCeramics/Marble/Granite/SanitarywareVARMORA
Varmora Granito IPO
Varmora Granito IPO is a mainboard IPO raising ₹708 Cr at ₹140 – ₹148 a share. It listed on 29 Sept 2026 at ₹155, +4.7% against its issue price of ₹148, and trades at ₹123 today (−16.9% since issue). It was subscribed 1.58× in total.
₹148
Issue price
₹123
Price now
−16.9%
Since issue price
29 Sept 2026
Listed on
1.58×Subscribed (final) · all exchanges
Just covered — bids slightly exceed the shares on offer
populated partly populated we hold nothing here — the tab says why
What’s in court
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 57 | 19 | 1 | ₹16 Cr |
| Subsidiaries | 9 | 0 | 0 | ₹0.5 Cr |
| Directors | 2 | 0 | 0 | — |
| Promoters | 1 | 0 | 0 | — |
| Group companies | 0 | 0 | 0 | — |
case₹5.5 Crpage 440
DGCEI excise duty SCN dated Nov 24, 2008 against Company alleging non-compliance with Section 4A Central Excise Act, 1944; demand of ₹55.31 million plus interest and penalty — pending
case₹0.2 Crpage 440
NGT/GPCB environmental case — coal-gasifier operations: NGT Western Zone Bench, Pune dismissed Company's appeal (Feb 25, 2026) and upheld ₹2.39 million penalty; Company considering further appeal (also faces Interim Compensation demand of ₹9.65m self + ₹4.03m + ₹18.40m amalgamated subsidiaries)
case₹0.0 Crpage 439
Vikraman P (M/s V.K. Traders) criminal complaint (Nov 22, 2024) against Company, MD Bhavesh Vallabhdas Varmora and employees for cheating/false documents (IPC ss.420, 464, 467-471 r/w 34); cheque amount ₹0.07 million — same case disclosed against Director and Promoter
casepage 441
UP Drug Inspector sessions case against directors/employees of Hester Biosciences Limited (including Director Sandhya Maulik Patel) for alleged supply of spurious PPR vaccine drugs — interim stay by Lucknow HC, matter not yet listed
Amounts stated in ₹ million in the prospectus; converted to ₹ crore (1 crore = ₹10 million). Company bucket aggregate: criminal-by ₹72.93m + criminal-against (Vikraman P cheque) ₹0.07m + NGT penalty ₹2.39m + tax ₹82.67m = ₹158.06m (₹15.81 crore). Company tax breakdown: Direct 2 cases / ₹1.64m; Indirect 17 cases / ₹81.03m. Subsidiaries tax: Nil. The Vikraman P complaint appears under Company, Director and Promoter sections as one case. No litigation involving Group Companies stated to have material impact. No explicit grand total stated in the text, hence total_amount_cr left null.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
Source documents
What the issuer and the exchanges published. Everything else on this tab is read out of these.
Prospectus on SEBI ↗
The full prospectus — business, financials, risk factors and litigation.
Anchor investor allocation ↗
Which institutions were allotted shares before bidding opened, and how many.
Bidding centres ↗
Where physical applications could be submitted.
Basis of issue price (peer ratios) ↗
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
Red Herring Prospectus ↗
The full prospectus — business, financials, risk factors and litigation.