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Vishal Nirmiti Ltd

Vishal Nirmiti Ltd

NSE & BSE · Mainboard IPO
Listed NSE & BSE Mainboard Live Chart
Issue Price
₹220
₹220
GMP (Grey Market)
+₹8
+3.64%
Est. Listing Price
₹228
Based on GMP
Min. Investment
₹14,960
1 lot × 68 shares
Subscribed
1.79x
Over-subscribed
IPO Details
Open Date
30 Sep 2026
Close Date
05 Oct 2026
Allotment
06 Oct 2026
Listing Date
08 Oct 2026
Exchange
NSE & BSE
Price Band
₹220
Listing Price
See chart
Allotment Status
Price Band
₹220
Per share
Face Value
₹10 per share
 
Lot Size
68 Shares
per lot
Issue Size
80,90,909 shares (agg. up to ₹178 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹14,960
1 lot
Pre-IPO Holding
1,98,00,000 shares
Promoters
Post-IPO Holding
2,63,90,909 shares
Promoters
P/E (Pre)
17.45x
 
P/E (Post)
23.26x
 
EPS (Pre)
₹12.61
 
EPS (Post)
₹9.46
 
UPI Deadline
5:00 PM on 05 Oct 2026
Mandate
GMP
+₹8
+3.64% est.
Anchor AllotmentTue, 29 Sep 2026
Basis of AllotmentTue, 06 Oct 2026
Refund InitiationWed, 07 Oct 2026
Demat CreditWed, 07 Oct 2026
Listing DayThu, 08 Oct 2026
UPI Mandate Deadline5:00 PM on 05 Oct 2026
Sale TypeFresh capital cum OFS
Fresh Issue Shares65,90,909 shares (agg. up to ₹145 Cr)
Offer for Sale15,00,000 shares of ₹10 (agg. up to ₹33 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
Vishal Nirmiti Ltd IPO subscribed 1.79 times overall. Retail: 1.75x. QIB: 1.33x. NII: 1.89x. By 05 Oct 2026.
QIB
1.33x
Over
NII/HNI
1.89x
Over
Retail
1.75x
Over
Total
1.79x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
QIB
Over 1.33x
80,909
— ₹1.78
NII / HNI
Over 1.89x
2,346,364
— ₹51.62
Retail
Over 1.75x
5,663,636
— ₹124.60
Total 1.79x
8,090,909
100% ₹178.00
IPO Shares Offered
Vishal Nirmiti Ltd IPO total issue size: ₹178.00 Cr. Retail: ₹124.60 Cr. QIB: ₹1.78 Cr. NII: ₹51.62 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
QIB 80,909 ₹1.78
1.00%
NII 2,346,364 ₹51.62
29.00%
Retail 5,663,636 ₹124.60
70.00%
Total 8,090,909 ₹178.00
100.00%
* Based on upper price band ₹220 per share
Basis of Allotment
QIB NII Retail Total
Ex. Anchor Anchor Total QIB Below ₹10L Above ₹10L Total NII
Allocation (shares) — — — — — 2,346,364 5,663,636 8,010,000
Allotment price (₹) 220 220 220 220 220 220 220 220
No. of applications — — — — — — — —
No. of shares applied — — — — — — — —
Amount collected (₹Cr) — — — — — — ₹124.60 ₹124.60
Times subscribed 1.33x — — — — 1.89x 1.75x 1.79x
Shares allotted — — — — — 2,346,364 5,663,636 8,010,000
No. of allottees — — — — — — — —
* Upper price band ₹220 · ** Anchor allotment excluded from public shares
Lot Size & Investment
Lot Size
68
Shares per Lot
Issue Price
₹220.00
Upper Band
Min Investment
₹14,960
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)2136₹29,920
Retail (Max — 13 Lots)13884₹194,480
S-HNI (Min — 14 Lots)14952₹209,440
B-HNI (Min — 68 Lots)684,624₹1,017,280
* Issue Price ₹220 × Lot Size 68 shares
IPO Schedule
Anchor
29 Sep 2026
✓ Done
IPO Open
30 Sep 2026
✓ Done
IPO Close
05 Oct 2026
✓ Done
Allotment
06 Oct 2026
✓ Done
Refunds
07 Oct 2026
✓ Done
Demat Credit
07 Oct 2026
✓ Done
Listing Day
08 Oct 2026
✓ Done
Vishal Nirmiti Ltd — Live Price LIVE
₹220.00
INR · BSE
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Issue ₹220.00 GMP: +₹8 Live Price
About Vishal Nirmiti Ltd
Incorporated in 1994, Vishal Nirmiti Limited (formerly Sejal Farms Private Limited) is a civil engineering, manufacturing, and construction company primarily engaged in manufacturing and dealing of Pre-Stressed Concrete (PSC) sleepers for railways, pre-cast and pre-stressed concrete products, as well as fabrication and erection of Mild Steel (MS) pipes, liners, and penstock pipes for Pumped Storage Projects (PSPs).The company also provides engineering, procurement, and construction (EPC) services for railway infrastructure, irrigation, and civil engineering projects across sectors such as railways, renewable power, and industrial infrastructure.Business Segments:Manufacturing segment: Includes PSC sleeper manufacturing for Indian Railways, DFCCIL, and private clients, as well as MS pipes, MS liners, and penstock pipes for hydro power, lift irrigation, water supply, and infrastructure projects.Services segment: Covers job work contracts for MS pipes, liners, penstock pipes, pre-cast and pre-stressed elements (such as noise barriers and cable ducts), hydro-mechanical structures, as well as construction works, power generation through windmills, transportation, leasing, and sale of scrap.VNL has a pan-India presence with operational units across Maharashtra, Madhya Pradesh, Gujarat, Himachal Pradesh, Uttar Pradesh, Odisha, and Karnataka and is led by a highly experienced promoter group with over four decades of domain expertiseAs of June 30, 2026, the Company employed 420 employees in various departments.Competitive Strengths:Execution capabilities with industry experience and strong operating systems, providing comprehensive solution.Dedicated focus on railway infrastructure development and manufacture of PSC sleepersDeeply entrenched, long term relationships with customersExperienced Management Team driving the growth of the Company
Objects of the Issue
1
Funding working capital requirements of the Company
2
Repayment and/ or pre-payment, in part or full of term loans
3
General Corporate Purposes
Vishal Nirmiti Ltd Financials (Amount in ₹ Crore)
Revenue from Operations
₹247.9
31 Mar 2024
₹324.9
31 Mar 2025
₹344.1
31 Mar 2026
Profit After Tax (PAT)
₹3.5
31 Mar 2024
₹23.6
31 Mar 2025
₹25.0
31 Mar 2026
Particulars31 Mar 202631 Mar 202531 Mar 2024
Revenue from Operations 344.13 324.86 247.93
EBITDA 51.13 46.48 23.14
Profit After Tax (PAT) 24.98 23.64 3.45
Net Worth 86.34 61.12 38.12
Total Assets 334.92 296.61 242.04
Reserves & Surplus 66.98 59.76 36.76
Borrowings 87.42 88.05 91.75
EBITDA Margin (%) 15.10 — —
PAT Margin (%) 7.37 — —
P/BV Ratio
5.04
RoE
33.67
RoCE
28.02
RoNW
33.87
PAT Margin
7.37
EBITDA Margin
15.10
Debt/Equity
1.01
Issue Structure & Shareholding
Total Shares Offered80,90,909
Net Offer to PublicN/A
Reserved for Market MakerN/A
Pre-Issue Promoter Holding1,98,00,000 shares
Post-Issue Promoter Holding2,63,90,909 shares
P/BV Ratio5.04
RoE33.67
RoCE28.02
Debt / Equity1.01
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
Saffron Capital Advisors Pvt.Ltd
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much Vishal Nirmiti Ltd IPO subscribed? ▲

Vishal Nirmiti Ltd IPO is subscribed 1.79 times by Oct 05, 2026. Retail: 1.75x. QIB: 1.33x. NII: 1.89x.

Investor CategorySubscription
Qualified Institutional (QIB)1.33x
Non Institutional (NII/HNI)1.89x
Retail Individual1.75x
Total Subscription1.79x
What is Vishal Nirmiti Ltd IPO retail subscription status? ▼

The Vishal Nirmiti Ltd IPO retail category is subscribed 1.75 times as of 05 Oct 2026. The retail portion is oversubscribed.

How to subscribe Vishal Nirmiti Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 30 Sep 2026 and closes 05 Oct 2026. Min investment: ₹14,960 (1 lot = 68 shares). UPI mandate: 5:00 PM on 05 Oct 2026.

How many times Vishal Nirmiti Ltd IPO subscribed? ▼

The Vishal Nirmiti Ltd IPO subscribed 1.79x overall. QIB: 1.33x, NII: 1.89x, Retail: 1.75x. Applications: from NSE/BSE.

How to check Vishal Nirmiti Ltd IPO allotment? ▼

Check allotment on the registrar website (MUFG Intime India Pvt.Ltd) at https://in.mpms.mufg.com/Initial_Offer/public-issues.html. Enter your PAN, application number or DP/Client ID. Allotment date: 06 Oct 2026. Refunds: on 07 Oct 2026.

When Vishal Nirmiti Ltd IPO will be listed? ▼

The Vishal Nirmiti Ltd IPO listing date is 08 Oct 2026, Thursday. Listed on: NSE & BSE. Issue price: ₹220. Estimated listing: ₹228. GMP: +₹8.

When Vishal Nirmiti Ltd IPO close? ▼

The Vishal Nirmiti Ltd IPO closes on 05 Oct 2026, Monday. UPI mandate: 5:00 PM on 05 Oct 2026. Allotment: 06 Oct 2026. Listing: 08 Oct 2026.