Vishal Nirmiti's Rs 178-crore IPO opens for subscription on Sept. 30 and closes on Oct. 5, 2026. Ahead of the launch, the latest grey market premium (GMP) implies a potential listing gain of 0.91%.
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
Vishal Nirmiti IPO GMP Today
The latest GMP for Vishal Nirmiti IPO stood at Rs 2 on Sept. 29 at 3:30 p.m. With the upper price band of Rs 220, the IPO's estimated listing price is Rs 222 (cap price + GMP). This implies an expected listing gain of 0.91% for investors.
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Vishal Nirmiti IPO: Key Details
Vishal Nirmiti IPO is a book-built issue of Rs 178 crore. The issue is a combination of a fresh issue of 65.91 lakh shares aggregating to Rs 145 crore and an offer-for-sale (OFS) of 15 lakh shares worth Rs 33 crore.
The price band for the IPO is set between Rs 208 and Rs 220 per share.
To participate in the IPO, retail investors must bid for at least a single lot of 68 shares. This means a minimum amount of investment required by an individual investor (retail) is Rs 14,960 (based on upper price).
Saffron Capital Advisors Pvt. Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
For more details on the IPO, check the red herring prospectus here: Vishal Nirmiti RHP
Vishal Nirmiti IPO Key Dates
- Bidding window opens: Sept. 30
- Bidding window closes: Oct. 5
- Allotment finalisation: Oct. 6
- Refund initiation: Oct. 7
- Credit of Shares to Demat accounts: Oct. 7
- Listing date: Oct. 8
Vishal Nirmiti IPO: Use Of Proceeds
The company will use the IPO proceeds for funding working capital requirements of the company (Rs 75 crore) and repayment and/or pre-payment, in part or full, of term loans (Rs 19 crore).
The remaining funds will be used for general corporate purposes.
Vishal Nirmiti IPO: Company Financials
Vishal Nirmiti Ltd.'s total income increased by 6% and profit after tax (PAT) rose by 6% between FY25 and FY26.
Total income: Rs 344.13 crore, compared with 324.86 crore in FY25
Profit after tax (PAT): Rs 24.98 crore, up from Rs 23.64 crore in the previous financial year
EBITDA: Rs 51.13 crore versus Rs 46.48 crore a year earlier
About Vishal Nirmiti
Incorporated in 1994, the company operates across civil engineering, construction and manufacturing, with its core manufacturing activities focused on railway infrastructure products. Its portfolio includes pre-stressed concrete sleepers for railways, along with a range of pre-cast and pre-stressed concrete products.
It also undertakes the fabrication and installation of mild steel pipes, liners and penstock pipes used in pumped storage projects.
Alongside its manufacturing operations, the company provides EPC services for railway, irrigation and civil engineering projects.
Its project exposure spans railway infrastructure, renewable energy and industrial developments.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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