The Rs 37.52 crore public issue, which closed for subscription on January 20, was a mix of fresh capital and an offer for sale.
Aritas Vinyl operates in the technical textiles space, manufacturing artificial leather, PU synthetic leather and PVC-coated fabrics using transfer coating technology.
Its products are supplied to a wide range of end markets including automotive upholstery, fashion accessories and interior furnishings, with exports to regions such as the Middle East, Europe, the US and Sri Lanka. The company’s manufacturing facility is located in Ahmedabad and has an installed capacity of about 7.8 million square metres annually.
Financially, Aritas Vinyl has reported steady growth over recent years, though margins remain modest. For the period ended August 31, 2025, the company reported total income of Rs 40.6 crore and a profit after tax of Rs 2.42 crore.
Proceeds from the fresh issue are largely earmarked for working capital requirements and a solar power project, along with general corporate purposes. Promoter shareholding will fall sharply post-IPO, which is another factor investors are closely watching.
With grey market indicators pointing to a subdued debut, Aritas Vinyl’s listing performance is expected to track broader market sentiment rather than deliver immediate upside. Investors are likely to focus more on the company’s execution, debt management and margin improvement in the quarters ahead to assess longer-term potential beyond listing day.
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