Varmora promoters buy back 2% stake from Carlyle

Synopsis Varmora Granito promoters have bought back a 2% stake from private equity investor Carlyle Group. This move signals confidence ahead of the company’s upcoming public offering. The promoters repurchased the stake for ₹100 crore. Varmora Granito is preparing for a 100% book-built initial public offering. The company plans to use fresh issue proceeds to reduce debt. Mumbai: Promoters of Varmora Granito Ltd, one of India’s leading tile and bathware makers, have bought back a 2% stake from private equity investor, The Carlyle Group, people said, signalling their confidence in the company’s growth prospects ahead of a public offering. The…