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Vishal Nirmiti IPO
Vishal Nirmiti IPO
Overview
Vishal Nirmiti IPO is a book build issue of ₹178.00 crores. The issue is a combination of fresh issue of 65.91 lakh shares aggregating to ₹145.00 crores and offer for sale of 15.00 lakh shares aggregating to ₹33.00 crores. Vishal Nirmiti IPO opens for subscription on Sep 30, 2026 and closes on Oct 5, 2026. The allotment for the Vishal Nirmiti IPO is expected to be finalized on Oct 6, 2026. Vishal Nirmiti IPO will list on NSE and BSE with a tentative listing date fixed as Oct 8, 2026. Vishal Nirmiti IPO is set issue price band at ₹208 to ₹220 per share. The lot size for an application is 68 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,960 (68 shares) (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.
Total Shares
80,90,909
Issue Size
₹178 Cr
Price Band
₹208 – ₹220
Lot Size
68 shares
Min. Investment
₹14,960
Max. Investment
₹1,94,480
Open Date
30 Sep, 2026
Close Date
05 Oct, 2026
Allotment
06 Oct, 2026
Listing
08 Oct, 2026
Max. Investment
₹1,94,480
Announced
30 Sep, 2026
Opening Date
30 Sep, 2026
Closing Date
05 Oct, 2026
Basis of Allotment
06 Oct, 2026
Initiation of Refunds
07 Oct, 2026
Credit of Shares
07 Oct, 2026
Listing Date
08 Oct, 2026
Live GMP
Est. Listing: ₹222
Apply via UPI in 5 minutes
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About Vishal Nirmiti IPO
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 (EP
Vishal Nirmiti IPO Share Price
Issue Breakdown
Shareholding
Dilution: 33.3% increase in shares
Vishal Nirmiti IPO Financial Health
Vishal Nirmiti Ltd.'s revenue increased by 6% and profit after tax (PAT) rose by 6% between the financial year ending with March 31, 2026 and March 31, 2025.
Vishal Nirmiti IPO Lot Size
Investors can bid for a minimum of 68 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 68 | ₹14,960 |
| Retail (Max) | 13 | 884 | ₹1,94,480 |
| S-HNI (Min) | 14 | 952 | ₹2,09,440 |
| S-HNI (Max) | 66 | 4488 | ₹9,87,360 |
| B-HNI (Min) | 67 | 4556 | ₹10,02,320 |
(All values in CR)
Vishal Nirmiti IPO Valuations
| Metric | Value |
|---|---|
| ROE | 33.67 |
| ROCE | 28.02 |
| Debt/Equity | 1.01 |
| RoNW | 33.87 |
| PAT Margin | 7.37 |
| EBITDA Margin | 15.10 |
| NAV | 43.61 |
| P/B (x) | 5.04 |
(All values in CR)
Vishal Nirmiti IPO Strength & Risk
Vishal Nirmiti IPO Strength
- Integrated manufacturing capabilities in PSC sleepers and mild steel pipes.
- Established relationships with railway departments and infrastructure customers.
- Strong order book provides visibility for future revenue.
- Experienced promoters and management team with infrastructure-sector expertise.
- Diversified operations across manufacturing, EPC and services.
- Repeat business from established customers supports revenue visibility.
- Presence across multiple states helps diversify its operating footprint.
Vishal Nirmiti IPO Risk
- Significant dependence on railway and government infrastructure projects.
- High customer concentration creates revenue-dependence risk.
- Business depends on winning competitive tenders and receiving purchase orders.
- High working-capital requirements may put pressure on cash flows.
- Dependence on suppliers for key raw materials.
- Manufacturing contributes a large share of total revenue, increasing segment concentration.
Vishal Nirmiti IPO GMP
Vishal Nirmiti IPO last recorded Grey Market Premium (GMP) is ₹2, updated on Sep 29, 2026 05:02:01 PM. With an upper price band of ₹220.00, the estimated listing price for Vishal Nirmiti IPO is ₹222 (cap price + today's GMP). The expected percentage gain/loss per share is 0.91%. • Vishal Nirmiti IPO Retail Subject to Sauda: ₹100 • Vishal Nirmiti IPO Small HNI Subject to Sauda: ₹1400 Grey market trading for Vishal Nirmiti IPO has commenced over the past 2 sessions.
Last updated 29 Sep, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 29 Sep, 2026 | 0 | ₹2 | - | ₹222 (0.91%) | 136 | 29 Sep, 2026 |
| 28 Sep, 2026 | 0 | ₹2 | - | ₹222 (0.91%) | 136 | 28 Sep, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Vishal Nirmiti IPO
Login to Your Trading App
Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find Vishal Nirmiti IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.
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