Business
Vishal Nirmiti IPO to open on Sep 30; price band fixed at Rs 208-220
The IPO comprises a fresh issue of up to 69.71 lakh equity shares, aggregating to Rs 145 crore at the upper end of the price band, and an offer for sale (OFS) of 15 lakh shares worth Rs 33 crore. The total issue size stands at Rs 178 crore at the upper price band.
Proceeds from the IPO are proposed to be utilised for funding working capital requirements, loan repayments and general corporate purposes.
Vishal Nirmiti is engaged in manufacturing and dealing in pre-stressed concrete (PSC) sleepers for railway, pre-cast and pre-stressed concrete products, as well as fabrication of mild steel (MS) pipes, MS liner and pre-stressed pipes for pumped storage projects.
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The company also provides engineering, procurement, infrastructure and construction services for railway infrastructure and various civil engineering, irrigation and infrastructure projects.
- Core Business: Manufacturing Pre-Stressed Concrete (PSC) sleepers for railways, precast concrete elements, noise barriers, and fabricating mild steel (MS) pipes and penstocks for pumped storage projects.
- Offices: Registered office in Mumbai and corporate office in Pune, Maharashtra.
- Leadership: Headed by Chairman Brij Tapadiya and Joint Managing Directors Ajay Tapadiya and Pavan Tapadiya.
- Dates: The initial public offering opens for subscription on September 30, 2026 and closes on October 5, 2026.
- Price Band: Fixed at ₹208 to ₹220 per equity share.
- Issue Size: Up to ₹178 crore, comprising a fresh issue of up to 69.71 lakh shares (₹145 crore) and an offer for sale of 15 lakh shares (₹33 crore).
- Lot Size: 68 shares.
- Use of Proceeds: Funding working capital requirements, repaying certain loans, and general corporate purposes.
- Listing: Proposed on both BSE and NSE.
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