Vishal Nirmiti IPO Details
Factual IPO information from public filings. Not investment advice.
Issue Details
- Price Band
- ₹208 – ₹220
- Lot Size
- 68 shares
- Min. Investment
- ₹14,960
- Total Issue Size
- ₹178 Cr
- 80,90,909 shares
- Fresh Issue
- ₹145 Cr
- 65,90,909 shares
- Offer for Sale
- ₹33 Cr
- 15,00,000 shares
- Face Value
- ₹10 per share
- Issue Type
- Book-built IPO
- Listing At
- NSE, BSE
- Shares Pre-Issue
- 1,98,00,000
- Shares Post-Issue
- 2,63,90,909
Lot Size & Investment
1 lot = 68 shares
Retail (min)
1 lot · 68 shares
Retail (max)
13 lots · 884 shares
S-HNI (min)
14 lots · 952 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 68 | ₹14,960 |
| Small HNI (S-HNI) | 14 | 952 | ₹2,09,440 |
| Big HNI (B-HNI) | 67 | 4,556 | ₹10,02,320 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 334.92 | 296.61 | 242.04 |
| Total Income | 344.13 | 324.86 | 247.93 |
| Profit After Tax | 24.98 | 23.64 | 3.45 |
| EBITDA | 51.13 | 46.48 | 23.14 |
| Net Worth | 86.34 | 61.12 | 38.12 |
| Reserves & Surplus | 66.98 | 59.76 | 36.76 |
| Total Borrowing | 87.42 | 88.05 | 91.75 |
Key Performance Indicators
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS (₹) | 12.61 | 11.94 | 1.74 |
| P/E (pre-issue) | 17.45 | — | — |
| P/E (post-issue) | 23.25 | — | — |
About Vishal Nirmiti
Incorporated in June 1994 as Sejal Farms and renamed Vishal Nirmiti in 2025, the company works in civil engineering, manufacturing and construction for railway and infrastructure projects. It makes pre-stressed concrete sleepers for railways along with precast concrete products, and fabricates and erects MS pipes, MS liners and penstock pipes for pumped storage schemes. Manufacturing, covering PSC sleepers, large-diameter MS pipes and precast items such as noise barriers and cable ducts, contributed about 75 per cent of revenue in Fiscal 2026. The balance comes from sub-contracted job work on pipes, liners, penstocks and precast elements.
Company Information
Strengths (from RHP)
- The company has delivered railway and infrastructure contracts over three decades of operation.
- PSC sleeper manufacturing is an approved, specification-driven product line with limited competition.
- Customer relationships in the railway and infrastructure sectors are long established.
Key risks (from RHP)
- Most work comes from government railway and infrastructure projects, so order flow follows public spending.
- A small number of customers account for a large share of revenue.
- Cement, steel and other inputs are bought from a limited set of suppliers at prices the company does not control.
- Book running lead managers
- Saffron Capital Advisors Private Limited
- Registered office
- 303, 17 Elphinstone House, Marzban Road, New Empire Cinema, Fort, Mumbai, Maharashtra, 400001