Aritas Vinyl IPO Shocks Investors: Shares Hit Lower Circuit After Flat Listing

• Aritas Vinyl, an artificial leather manufacturer, listed flat on BSE SME at ₹47, offering no listing gain to IPO investors.
• Shares immediately dropped to the lower circuit of ₹44.65, resulting in a 5% loss for IPO investors on day one.
• The ₹38 crore IPO was oversubscribed 2.21 times, with strong retail investor participation (2.88 times).
• Funds from the IPO will be used for a solar power project, working capital, and general corporate purposes.
• Aritas Vinyl manufactures PU and PVC artificial leather, with a manufacturing facility in Ahmedabad and exports to multiple countries.

Why It Matters: Aritas Vinyl IPO delivered a disappointing debut, with shares hitting the lower circuit after a flat listing.