Vishal Nirmiti IPO is a Mainboard Book Built public issue by Vishal Nirmiti Limited. The public issue consists of a fresh issue of equity shares along with an Offer for Sale (OFS) by Vaman Prestressing Company Private Limited, a promoter group selling shareholder. The company proposes to list its equity shares on both the BSE and NSE. The RHP dated September 24, 2026 states that the fresh issue is up to ₹145 crore and the OFS comprises up to 15 lakh equity shares.
The objective of the fresh issue is to fund the company’s working capital requirements, repay or pre-pay certain term loans and meet general corporate purposes. The company will receive the proceeds from the fresh issue, while the proceeds from the OFS will be received by the selling shareholder. The final offer price was fixed at ₹220 per equity share after the price band was announced at ₹208 to ₹220 per share.
Vishal Nirmiti Limited is a civil engineering, infrastructure manufacturing and construction company with operations covering railway infrastructure, pre-stressed concrete sleepers, precast concrete products, mild steel pipes and infrastructure services. Its primary business vertical is manufacturing and supplying PSC sleepers mainly for Indian Railways and Dedicated Freight Corridor Corporation of India projects. The company also undertakes fabrication and erection of MS pipes, MS liners and penstock pipes, infrastructure manufacturing, precasting services and related construction activities.
The company operates across infrastructure segments that include railways, water resources, hydropower, pipeline projects, industrial infrastructure and civil construction. Its order book includes projects associated with Indian Railways, Larsen & Toubro Limited, Kalpataru Projects International Limited and other infrastructure customers. Investors should evaluate the company’s financial performance, customer concentration, government-project exposure, debt levels, working-capital requirements, competitive environment and IPO valuation before making an investment decision.
Table of Contents
Vishal Nirmiti IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Vishal Nirmiti IPO |
| Company Name | Vishal Nirmiti Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹208 to ₹220 Per Share |
| Issue Size | ₹178 Crore |
| Fresh Issue | ₹145 Crore |
| Offer for Sale | 15,00,000 Equity Shares |
| IPO Open Date | 30 September 2026 |
| IPO Close Date | 5 October 2026 |
| Anchor Investor Bidding | 29 September 2026 |
| Basis of Allotment | 6 October 2026 |
| Refund Initiation | 7 October 2026 |
| Shares Credited to Demat Account | 7 October 2026 |
| Listing Date | 8 October 2026 |
| Listing Exchange | BSE & NSE |
| Lot Size | 68 Equity Shares |
| Registrar | MUFG Intime India Private Limited |
| Book Running Lead Manager | Saffron Capital Advisors Private Limited |
The company intends to utilise the fresh issue proceeds primarily for working capital requirements and repayment or pre-payment of term loans, with the balance proposed for general corporate purposes. The RHP specifies ₹75 crore for working capital and ₹19 crore for repayment/pre-payment of term loans, while the remaining amount is to be allocated towards general corporate purposes subject to the applicable limits.
Vishal Nirmiti IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 29 September 2026 |
| IPO Opening Date | 30 September 2026 |
| IPO Closing Date | 5 October 2026 |
| Basis of Allotment | 6 October 2026 |
| Refund Initiation | 7 October 2026 |
| Shares Credited to Demat Account | 7 October 2026 |
| Listing Date | 8 October 2026 |
The Vishal Nirmiti IPO opened for subscription on 30 September 2026 and is scheduled to close on 5 October 2026. NSE has confirmed the issue period and registrar details, while the RHP specifies that the UPI mandate acceptance deadline is 5:00 PM on the closing date.
After the allotment process is completed, successful applicants will receive the allotted shares in their demat accounts before the company’s shares begin trading on the stock exchanges. The proposed listing is on both BSE and NSE, with NSE designated as the Designated Stock Exchange.
Vishal Nirmiti IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 1% |
| Non-Institutional Investors (NII) | Not Less Than 29% |
| Retail Individual Investors (RII) | Not Less Than 70% |
The reservation structure is based on the offer structure disclosed in the RHP. The company has stated that not more than 1% of the offer is available for QIBs, not less than 29% for non-institutional bidders and not less than 70% for retail individual bidders, subject to valid bids and applicable SEBI ICDR provisions.
Vishal Nirmiti IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (68 Shares) | ₹14,960 |
| Retail Maximum | 13 Lots (884 Shares) | ₹1,94,480 |
| S-HNI Minimum | 14 Lots (952 Shares) | ₹2,09,440 |
| B-HNI Minimum | 67 Lots (4,556 Shares) | ₹10,02,320 |
The application values shown above are calculated using the upper price band of ₹220 per equity share. Retail investors can apply for one lot of 68 shares and may apply for up to 13 lots within the retail category. Applications above the retail limit fall under the applicable non-institutional investor categories.
About Vishal Nirmiti Limited
Vishal Nirmiti Limited was incorporated on June 30, 1994, in Maharashtra as Sejal Farms Private Limited. The company subsequently changed its name to Vinamra Trading Company Private Limited in 2004 and then to Vishal Nirmiti Private Limited in 2005. In 2025, the company was converted from a private limited company into a public limited company and adopted the name Vishal Nirmiti Limited.
The company is engaged in civil engineering, infrastructure manufacturing and construction activities. Its business includes the manufacture and supply of pre-stressed concrete sleepers, precast concrete elements, mild steel pipes, liners and penstock pipes, along with infrastructure services and related construction work. The company has developed capabilities across railway infrastructure, water-resource projects, hydropower projects, pipeline infrastructure and industrial construction.
Vishal Nirmiti’s manufacturing and service activities provide it with exposure to several infrastructure applications. Its railway-related products include PSC sleepers and noise barriers, while its pipeline operations include LSAW and HSAW pipes and coating solutions. It also provides design, fabrication, installation, commissioning, maintenance and refurbishment services for hydro-mechanical equipment and structural infrastructure.
Business Operations
Vishal Nirmiti Limited operates across manufacturing and infrastructure service activities serving railway, water, energy and construction requirements.
- PSC Sleepers – The company manufactures pre-stressed concrete sleepers primarily used in railway track infrastructure. PSC sleeper revenue accounted for 42.61% of revenue from operations in Fiscal 2026, compared with 47.30% in Fiscal 2025 and 58.09% in Fiscal 2024.
- Precast Concrete Elements – The company manufactures and undertakes job work involving precast and prestressed concrete products such as railway noise barriers, cable ducts and cable duct lids.
- MS Pipes – The company manufactures and fabricates mild steel pipes for infrastructure applications, including water transmission, industrial projects and other pipeline requirements.
- LSAW and HSAW Pipes – Vishal Nirmiti manufactures longitudinal and helical submerged arc welded pipes. LSAW pipes are produced in diameters ranging from 219 mm to 1,625 mm, while HSAW pipes cover diameters from 457 mm to 2,540 mm, according to the company’s business disclosures.
- MS Liners and Penstock Pipes – The company undertakes fabrication and erection of MS liners and penstock pipes for hydropower, pumped-storage and water-related infrastructure projects.
- Structural Work – The company undertakes design and fabrication of gates and penstocks, installation and commissioning of hydro-mechanical equipment, and maintenance and refurbishment services.
- Infrastructure Manufacturing – The company undertakes manufacturing-related infrastructure work for large infrastructure customers and project contractors.
- Precasting Services – The company provides precasting services for infrastructure projects and has received orders for manufacturing precast elements.
- Civil Construction & Infrastructure – The company also participates in infrastructure development activities involving roads, bridges, flyovers, buildings and related civil works.
The company’s order-in-hand portfolio includes railway sleeper projects, precast concrete elements, infrastructure service work involving MS pipes and liners, infrastructure manufacturing and precasting services. The RHP disclosed an order-in-hand value of ₹68,246.67 lakh for Fiscal 2026.
Industry Overview
India’s infrastructure sector continues to receive investment across railway modernization, water infrastructure, renewable energy, hydropower, roads, urban infrastructure and industrial development. Vishal Nirmiti operates across several of these segments through its manufacturing and service businesses.
The railway infrastructure market is particularly relevant to the company because PSC sleepers are its primary manufacturing product. The RHP notes that government authorities and government-related entities generated a substantial portion of the company’s PSC sleeper revenue, making railway investment, tender activity and government infrastructure policies important factors for its business.
Demand for MS pipes and related infrastructure products is supported by water transmission, irrigation, hydropower, industrial infrastructure and pipeline projects. The company’s diversified exposure allows it to participate in different infrastructure applications, although its revenue remains significantly dependent on major customers and project execution.
The RHP also highlights the competitive nature of the railway concrete sleeper, MS pipe and infrastructure services markets. Competition can arise from established players as well as emerging companies, with factors such as pricing, manufacturing capacity, execution capability, quality and customer relationships influencing business opportunities.
Business Strategy
Vishal Nirmiti Limited focuses on using its manufacturing capabilities and infrastructure experience to execute railway, pipeline, water-resource, hydropower and civil infrastructure projects.
The company’s strategy includes strengthening its manufacturing capabilities, expanding product offerings, improving execution efficiency and pursuing projects across infrastructure segments. Its operations combine manufacturing and service capabilities, allowing it to participate in both supply contracts and project-related work.
The company also seeks to maintain relationships with government bodies, infrastructure contractors and private-sector customers. Its customer base includes Indian Railways and large infrastructure companies such as Larsen & Toubro Limited and other project contractors. The company has also worked to broaden its supplier base and improve procurement flexibility for raw materials.
The company’s future growth will depend on its ability to secure new orders, execute existing projects efficiently, manage working capital, control costs and maintain the quality standards required by customers.
Vishal Nirmiti IPO Financial Information
A company’s financial performance provides valuable insights into revenue growth, profitability, operating efficiency, capital utilisation and financial stability. Reviewing multiple years of financial information helps investors understand the direction of the business and the factors influencing earnings.
Vishal Nirmiti Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹242.88 Crore | ₹318.52 Crore | ₹338.68 Crore |
| EBITDA | ₹23.14 Crore | ₹46.48 Crore | ₹51.13 Crore |
| EBITDA Margin | 9.53% | 14.59% | 15.10% |
| Profit After Tax (PAT) | ₹3.45 Crore | ₹23.64 Crore | ₹24.98 Crore |
| PAT Margin | 1.42% | 7.42% | 7.37% |
| EPS | ₹1.74 | ₹11.94 | ₹12.61 |
| Debt-to-Equity | 2.38 | 1.43 | 1.01 |
| Net Worth | ₹38.12 Crore | ₹61.12 Crore | ₹86.34 Crore |
Vishal Nirmiti reported growth in revenue from operations from ₹242.88 crore in Fiscal 2024 to ₹318.52 crore in Fiscal 2025 and ₹338.68 crore in Fiscal 2026. EBITDA increased from ₹23.14 crore to ₹46.48 crore and ₹51.13 crore over the same period. PAT increased substantially from ₹3.45 crore in Fiscal 2024 to ₹23.64 crore in Fiscal 2025 and ₹24.98 crore in Fiscal 2026.
The company’s debt-to-equity ratio declined from 2.38 in Fiscal 2024 to 1.43 in Fiscal 2025 and 1.01 in Fiscal 2026. Net worth increased from ₹38.12 crore to ₹61.12 crore and ₹86.34 crore during the same period. Operating cash flow remained positive at ₹27.15 crore in Fiscal 2026, compared with ₹38.20 crore in Fiscal 2025 and ₹27.73 crore in Fiscal 2024.
Vishal Nirmiti IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess revenue growth, profitability, operating efficiency, capital utilisation and financial strength. These ratios provide additional information beyond absolute revenue and profit figures.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 33.67% |
| Return on Capital Employed (ROCE) | 28.02% |
| EBITDA Margin | 15.10% |
| PAT Margin | 7.37% |
| Debt-to-Equity Ratio | 1.01 |
| Earnings Per Share (EPS) | ₹12.61 |
| Net Worth | ₹86.34 Crore |
| Fixed Assets Turnover Ratio | 4.28 |
| Revenue Growth | 6.33% |
| Bill to Book Ratio | 49.35% |
The company’s FY2026 financial indicators show a 15.10% EBITDA margin and 7.37% PAT margin. ROE stood at 33.67%, while ROCE was 28.02%. The debt-to-equity ratio was 1.01, showing a lower leverage level than in the preceding two financial years. The basic EPS for Fiscal 2026 was ₹12.61.
At the upper IPO price of ₹220, the price-to-earnings ratio based on the FY2026 basic EPS of ₹12.61 works out to approximately 17.45 times. Investors should compare this valuation with the company’s financial performance, industry peers, growth expectations, debt levels and customer concentration.
Objects of the Vishal Nirmiti IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Funding working capital requirements of the Company.
- Repayment and/or pre-payment, in part or full, of term loans availed by the Company.
- General corporate purposes.
The fresh issue is intended to generate gross proceeds of up to ₹145 crore. The RHP specifically allocates ₹75 crore towards working capital requirements and ₹19 crore towards repayment and/or pre-payment of term loans. The remaining amount is proposed for general corporate purposes within the applicable regulatory limit.
The proceeds from the Offer for Sale will be received by Vaman Prestressing Company Private Limited, the promoter group selling shareholder. Vishal Nirmiti Limited will not receive proceeds from the OFS.
Vishal Nirmiti IPO Listing Performance
The listing performance reflects how the company’s shares perform on the stock exchanges after the IPO. Since the Vishal Nirmiti IPO is scheduled to list on 8 October 2026, the actual listing price and listing gain are not available as of the current bidding period.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | 8 October 2026 |
| Issue Price | ₹220 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The company has received in-principle approvals from BSE and NSE for the proposed listing, with NSE designated as the Designated Stock Exchange. The actual listing price will be known only when trading begins.
Investors should distinguish between the IPO offer price and the eventual market price after listing. Market prices can change based on demand, market conditions, business performance and broader economic factors.
Vishal Nirmiti IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. Subscription data can change throughout the bidding period and final figures are available only after the issue closes.
As of 2 October 2026, exchange-linked subscription reports showed the Vishal Nirmiti IPO at around 0.57 times overall, with QIB subscription close to 1 time, NII subscription below 1 time and retail participation below the shares reserved for that category. These figures are interim and can change before the issue closes on 5 October 2026.
Vishal Nirmiti IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 0.96x |
| Non-Institutional Investors (NII) | 0.84x |
| Retail Individual Investors (RII) | 0.49x |
| Employee Category | Not Applicable |
| Total Subscription | 0.60x |
The above figures are based on reported exchange data available during the ongoing subscription period and should not be treated as final subscription figures. The final subscription numbers will be available after the IPO closes.
Vishal Nirmiti IPO Review
Vishal Nirmiti Limited operates across railway infrastructure, precast concrete, MS pipes, hydro-mechanical equipment and infrastructure services. Its primary business remains closely connected with railway infrastructure because PSC sleepers generated a significant portion of its revenue. The company also has an order book covering railway sleeper supply, precast products, MS pipe and liner work, infrastructure manufacturing and precasting services.
The company reported revenue from operations of ₹338.68 crore and PAT of ₹24.98 crore in Fiscal 2026. Its EBITDA margin improved from 9.53% in Fiscal 2024 to 15.10% in Fiscal 2026, while debt-to-equity declined from 2.38 to 1.01. Net worth also increased to ₹86.34 crore. These figures provide a basis for evaluating the company’s financial progress, although the business remains exposed to project execution, customer concentration and working-capital requirements.
The company’s customer concentration is another important consideration. Indian Railways accounted for 40.56% of revenue from operations in Fiscal 2026, while the top five customers accounted for 85.33% and the top ten customers accounted for 92.91%. Such concentration can make business performance sensitive to order flows and project activity from major customers.
Vishal Nirmiti IPO Strengths
- Established operating history in railway and infrastructure-related manufacturing and services.
- Diversified product portfolio covering PSC sleepers, precast elements, MS pipes, liners, penstock pipes and related infrastructure services.
- Experience in railway infrastructure projects involving Indian Railways and DFCCIL-related requirements.
- Presence across railway, water, hydropower, pipeline and industrial infrastructure applications.
- Improvement in revenue, EBITDA and PAT over the last three financial years.
- Reduction in debt-to-equity ratio from 2.38 in FY2024 to 1.01 in FY2026.
- Order-in-hand portfolio of ₹682.47 crore disclosed for Fiscal 2026.
- Manufacturing and execution capabilities supported by established infrastructure and industry experience.
Vishal Nirmiti IPO Risk Factors
- A significant portion of the company’s PSC sleeper revenue is generated from government authorities and government-related entities, making the business sensitive to government policies, railway spending and tender activity.
- Indian Railways was the largest customer and accounted for 40.56% of revenue from operations in Fiscal 2026.
- The company’s top five and top ten customers accounted for 85.33% and 92.91% of revenue from operations respectively in Fiscal 2026, indicating customer concentration.
- The company operates in a competitive market where pricing, execution capability, manufacturing capacity and quality can affect orders.
- Infrastructure projects can involve long execution cycles, working-capital requirements, delays and dependence on customer approvals.
- The company depends on suppliers for important raw materials used in its manufacturing operations.
- Changes in raw-material prices may affect margins and profitability.
- The business is exposed to changes in government infrastructure spending and project-award policies.
- The company has a debt-to-equity ratio of 1.01 as of Fiscal 2026, making debt servicing and working-capital management relevant financial considerations.
- Failure to execute business strategies, projects or contracts effectively could adversely affect operating performance.
Vishal Nirmiti IPO Promoters
Vishal Nirmiti Limited has been promoted by the Tapadiya family, which has been associated with the company and its infrastructure-related activities. The RHP identifies Brij B Tapadiya, Ajay Bhagwandas Tapadiya, Pavan Vithaldas Tapadiya, Akhil Ranchod Tapadiya, Naveen Tapadiya, Rajendrakumar Badrinarayan Tapadiya, Suyash Vithaldas Tapadiya, Vedant Tapadiya and Keshav Tapadiya as promoters of the company.
Vishal Nirmiti IPO Promoters Details
| Promoter | Designation |
|---|---|
| Brij B Tapadiya | Chairman and Whole-Time Director |
| Ajay Bhagwandas Tapadiya | Joint Managing Director |
| Pavan Vithaldas Tapadiya | Promoter |
| Akhil Ranchod Tapadiya | Promoter / Key Management |
| Naveen Tapadiya | Promoter |
| Rajendrakumar Badrinarayan Tapadiya | Promoter |
| Suyash Vithaldas Tapadiya | Promoter |
| Vedant Tapadiya | Promoter |
| Keshav Tapadiya | Promoter |
The promoter group has been involved in the company’s infrastructure manufacturing and construction activities. Vaman Prestressing Company Private Limited, a promoter group entity, is the selling shareholder in the Offer for Sale component of the IPO.
Vishal Nirmiti IPO Management Team
The company is managed by directors and key managerial personnel with responsibilities covering business operations, finance, compliance and corporate governance. The RHP identifies Abhijeet Kumudchandra Shah as Chief Financial Officer, Suhas Ganpat Naik as Company Secretary and Compliance Officer, and Akhil Ranchod Tapadiya as Chief Operating Officer.
| Name | Designation |
|---|---|
| Brij B Tapadiya | Chairman and Whole-Time Director |
| Ajay Bhagwandas Tapadiya | Joint Managing Director |
| Akhil Ranchod Tapadiya | Chief Operating Officer |
| Abhijeet Kumudchandra Shah | Chief Financial Officer |
| Suhas Ganpat Naik | Company Secretary & Compliance Officer |
| Rasik Singhania | Independent Director |
The company has constituted board committees including the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, IPO Committee and Corporate Social Responsibility Committee.
Vishal Nirmiti IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | MUFG Intime India Private Limited |
| Website | https://in.mpms.mufg.com |
| IPO Allotment Status | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
| Email ID | [email protected] |
| Contact Number | +91 810 811 4949 |
MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, is the registrar to the Vishal Nirmiti IPO. The RHP identifies Shanti Gopalkrishnan as the contact person for the issue. NSE also lists MUFG Intime as the registrar and provides the dedicated IPO email address.
Vishal Nirmiti IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory compliance and assisting the company during the public issue.
| Particular | Details |
|---|---|
| Lead Manager | Saffron Capital Advisors Private Limited |
| Contact Persons | Pratibha Joshi / Satej Darde |
| [email protected] | |
| Telephone | +91 22 4973 0394 |
| Website | www.saffronadvisor.com |
| SEBI Registration Number | INM000011211 |
Saffron Capital Advisors Private Limited is the sole Book Running Lead Manager disclosed in the RHP. The company’s RHP provides the manager’s Mumbai office address, contact details and SEBI registration information.
Vishal Nirmiti Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Vishal Nirmiti Limited |
| Registered Office | 303, 17 Elphinstone House, Marzban Road, New Empire Cinema, Fort, Mumbai – 400001, Maharashtra, India |
| Corporate Office | Suyash, S. No. 255/1 +2/2, Ashiyana Park-II, Aundh, Pune – 411007, Maharashtra, India |
| Website | https://www.vishalnirmiti.com |
| Email ID | [email protected] |
| Investor Contact | Suhas Ganpat Naik |
| Investor Email | [email protected] |
The company’s official investor-relations page provides its registered and corporate office details and identifies MUFG Intime India Private Limited as the registrar. The official website also hosts the company’s audited financials, DRHP, DRHP addendum, RHP, abridged prospectus and other IPO disclosures.
How to Check Vishal Nirmiti IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the relevant stock exchange portal. The basis of allotment is scheduled for 6 October 2026.
Through MUFG Intime India Private Limited
- Visit the official MUFG Intime IPO allotment portal.
- Select Vishal Nirmiti IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Vishal Nirmiti IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
The allotment process will be completed after the IPO closes. Investors should use the official registrar or exchange portal for the final result rather than relying on unofficial allotment messages.
Vishal Nirmiti IPO Conclusion
Vishal Nirmiti IPO provides investors with an opportunity to participate in a company operating across railway infrastructure, precast concrete products, MS pipes, hydropower-related infrastructure and civil construction services. The company has an established operating history and has developed manufacturing and project-execution capabilities across multiple infrastructure applications.
The company reported revenue from operations of ₹338.68 crore and PAT of ₹24.98 crore in Fiscal 2026. EBITDA margin improved to 15.10%, while debt-to-equity declined to 1.01. The company also disclosed an order-in-hand value of ₹682.47 crore for Fiscal 2026, providing visibility into projects already awarded.
However, investors should consider the company’s dependence on railway and government-linked projects, customer concentration, working-capital requirements, competition, raw-material costs, project execution and leverage. Indian Railways represented 40.56% of revenue from operations in Fiscal 2026, while the top ten customers contributed 92.91%.
A detailed assessment of the company’s financial performance, IPO valuation, order book, customer concentration, debt position, industry outlook and use of proceeds can help investors understand the issue and determine whether it fits their individual investment objectives and risk considerations.
Vishal Nirmiti IPO FAQs
What is Vishal Nirmiti IPO?
Vishal Nirmiti IPO is the Mainboard public issue of Vishal Nirmiti Limited. The IPO comprises a fresh issue of up to ₹145 crore and an Offer for Sale of up to 15 lakh equity shares by Vaman Prestressing Company Private Limited. The shares are proposed to be listed on BSE and NSE.
What is the price band of Vishal Nirmiti IPO?
The price band of Vishal Nirmiti IPO is ₹208 to ₹220 per equity share. The final offer price is ₹220 per share.
What is the issue size of Vishal Nirmiti IPO?
The total Vishal Nirmiti IPO size is approximately ₹178 crore, comprising a fresh issue of ₹145 crore and an Offer for Sale of 15 lakh equity shares worth up to ₹33 crore at the upper price band.
When will the Vishal Nirmiti IPO open?
The Vishal Nirmiti IPO opened for subscription on 30 September 2026.
When will the Vishal Nirmiti IPO close?
The Vishal Nirmiti IPO will close for subscription on 5 October 2026. The UPI mandate confirmation deadline is 5:00 PM on the closing date.
What is the lot size of Vishal Nirmiti IPO?
The Vishal Nirmiti IPO lot size is 68 equity shares. At the upper price band of ₹220, one lot requires an investment of ₹14,960.
On which stock exchanges will Vishal Nirmiti shares be listed?
Vishal Nirmiti shares are proposed to be listed on BSE and NSE. NSE has been designated as the Designated Stock Exchange for the issue.
Who is the registrar for the Vishal Nirmiti IPO?
MUFG Intime India Private Limited is the registrar to the Vishal Nirmiti IPO. The company was formerly known as Link Intime India Private Limited.
What is the face value of Vishal Nirmiti IPO shares?
The face value of each Vishal Nirmiti equity share is ₹10.
What does Vishal Nirmiti Limited do?
Vishal Nirmiti Limited is engaged in civil engineering, infrastructure manufacturing and construction activities. Its products and services include PSC railway sleepers, precast concrete elements, MS pipes, LSAW and HSAW pipes, MS liners, penstock pipes and infrastructure services.
What are the objects of the Vishal Nirmiti IPO?
The company proposes to use the fresh issue proceeds for working capital requirements, repayment and/or pre-payment of term loans and general corporate purposes. The RHP specifies ₹75 crore for working capital and ₹19 crore for repayment and/or pre-payment of term loans.
