Vishal Nirmiti IPO Logo

Vishal Nirmiti IPO

Live Updates, GMP, Subscription Data, and Financial Details

IPO Overview

Listed
Dates Sep 30 to Oct 05 2026
Price Band ₹208 - 220
Current GMP ₹215 (2.27%)
Subscription 1.79

IPO Details

IPO Date
30 Sep to 5 Oct, 2026
Listed on
Thu, Oct 8, 2026
Face Value
₹ 10 per share
Price Band
₹208 to ₹220
Issue Price
₹220 per share
Lot Size
68 Shares
Sale Type
Fresh capital cum OFS
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Total Issue Size
80,90,909 shares (agg. up to ₹ 178 Cr)
Fresh Issue
65,90,909 shares (agg. up to ₹ 145 Cr)
Offer for Sale
15,00,000 shares of ₹ 10 (agg. up to ₹ 33 Cr)
Share Holding Pre Issue
1,98,00,000 shares
Share Holding Post Issue
2,63,90,909 shares
BSE Script Code / NSE Symbol
544973 / VNL
ISIN
INE1O5L01025

Day Wise GMP

GMP Date08-10-2026
IPO Price220
GMP2 (0.91%)
Est. Listing Price222
GMP Date07-10-2026
IPO Price220
GMP2 (0.91%)
Est. Listing Price222
GMP Date06-10-2026
IPO Price220
GMP2 (0.91%)
Est. Listing Price222
GMP Date05-10-2026
IPO Price220
GMP2 (0.91%)
Est. Listing Price222
GMP Date04-10-2026
IPO Price220
GMP20 (9.09%)
Est. Listing Price240
GMP Date03-10-2026
IPO Price220
GMP20 (9.09%)
Est. Listing Price240
GMP Date02-10-2026
IPO Price220
GMP20 (9.09%)
Est. Listing Price240
GMP Date01-10-2026
IPO Price220
GMP20 (9.09%)
Est. Listing Price240
GMP Date30-09-2026
IPO Price220
GMP10 (4.55%)
Est. Listing Price230
GMP Date29-09-2026
IPO Price220
GMP6 (2.73%)
Est. Listing Price226
GMP Date28-09-2026
IPO Price220
GMP2 (0.91%)
Est. Listing Price222

IPO Important Dates

IPO Open
Wed, Sep 30, 2026
IPO Close
Mon, Oct 5, 2026
Allotment
Tue, Oct 6, 2026
Refund
Wed, Oct 7, 2026
Credit of Shares
Wed, Oct 7, 2026
Listing
Thu, Oct 8, 2026

IPO Lot Size

ApplicationRetail (Min)
Lots1
Shares68
Amount₹14,960
ApplicationRetail (Max)
Lots13
Shares884
Amount₹1,94,480
ApplicationS-HNI (Min)
Lots14
Shares952
Amount₹2,09,440
ApplicationS-HNI (Max)
Lots66
Shares4488
Amount₹9,87,360
ApplicationB-HNI (Min)
Lots67
Shares4556
Amount₹10,02,320

Financial Information

Period EndedAssets
31 Mar 2026334.92
31 Mar 2025296.61
31 Mar 2024242.04
Period EndedTotal Income
31 Mar 2026344.13
31 Mar 2025324.86
31 Mar 2024247.93
Period EndedProfit After Tax
31 Mar 202624.98
31 Mar 202523.64
31 Mar 20243.45
Period EndedEBITDA
31 Mar 202651.13
31 Mar 202546.48
31 Mar 202423.14
Period EndedNET Worth
31 Mar 202686.34
31 Mar 202561.12
31 Mar 202438.12
Period EndedReserves and Surplus
31 Mar 202666.98
31 Mar 202559.76
31 Mar 202436.76
Period EndedTotal Borrowing
31 Mar 202687.42
31 Mar 202588.05
31 Mar 202491.75

Key Performance Indicator

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

IPO Reservation

QIB
80,908
NII (HNI)
23,46,364
− bNII > ₹10L
15,64,243
− sNII < ₹10L
7,82,121
Retail
56,63,637
Total
80,90,909

Information about company

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 expertise As of June 30, 2026, the Company employed 420 employees in various departments. Competitive Strengths:

Objectives of IPO

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: #: Issue Objects 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 4: Issue Expenses : Total

Disclaimer

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