Vishal Nirmiti
LISTEDIPO Date: 30 Sept - 5 Oct 2026
Listing Date: 8 Oct 2026
Price Range
Rs.208 - Rs.220
Issue Size
178 Cr
Min Investment
₹14,144
Min Application
68 Shares
Schedule of Vishal Nirmiti
Issue open date
30 Sept 2026
Issue close date
5 Oct 2026
UPI mandate deadline
5 Oct 2026 (5 PM)
Allotment finalization
6 Oct 2026
Share credit
7 Oct 2026
Listing date
8 Oct 2026
Mandate end date
20 Oct 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 178 Cr |
| Fresh Issue | 145 Cr |
| Offer for Sale | 33 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 6 Oct 2026 |
| Allotment Link | {Link} |
Grey Market Premium
NewGrey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | IPO Price | GMP | Est. Listing Price |
|---|---|---|---|
| 8 Oct 2026Latest | ₹220 | ₹2 | ₹222(+0.91%) |
| 7 Oct 2026 | ₹220 | ₹2 | ₹222(+0.91%) |
| 6 Oct 2026 | ₹220 | ₹2 | ₹222(+0.91%) |
| 5 Oct 2026 | ₹220 | ₹2 | ₹222(+0.91%) |
| 4 Oct 2026 | ₹220 | ₹20 | ₹240(+9.09%) |
| 3 Oct 2026 | ₹220 | ₹20 | ₹240(+9.09%) |
| 2 Oct 2026 | ₹220 | ₹20 | ₹240(+9.09%) |
| 1 Oct 2026 | ₹220 | ₹22 | ₹242(+10%) |
| 30 Sept 2026 | ₹220 | ₹10 | ₹230(+4.55%) |
| 29 Sept 2026 | ₹220 | ₹6 | ₹226(+2.73%) |
| 28 Sept 2026 | ₹220 | ₹2 | ₹222(+0.91%) |
Performance Vishal Nirmiti
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| Rs.208 - Rs.220 | ₹ 215 (-2.27%) | ₹ 93.88 | -57.33% |
About Vishal Nirmiti
Vishal Nirmiti Limited is a civil engineering, manufacturing and construction company engaged in manufacturing and dealing in pre-stressed concrete (PSC) railway sleepers and precast and prestressed concrete products. It also fabricates and erects mild steel (MS) pipes, MS Liners, and Penstock Pipes for pumped storage projects. The company provides engineering, procurement, infrastructure and construction services for railway infrastructure, civil engineering, irrigation and infrastructure development projects across railways, renewable power and industrial sectors. Its business is divided into manufacturing and services segments. The company has units that are owned, leased, allotted or licensed for job work purposes across Maharashtra, Madhya Pradesh, Gujarat, Himachal Pradesh, Odisha, Delhi, Punjab and Karnataka. Its registered office is in Fort, Mumbai, Maharashtra, while its corporate office is in Aundh, Pune, Maharashtra. The company has ISO 9001:2015 certifications for its PSC sleeper and MS pipe manufacturing units and ISO 45001:2018 certification for occupational health and safety at its Kukshi, Madhya Pradesh, unit.
| Founded in | 1994 |
| Managing director | Ajay Bhagwandas Tapadiya and Pavan Vithaldas Tapadiya |
| Parent organization |
Financial Overview
Strengths
5- 1
Diversified across railway sleepers, steel pipes, and EPC works.
- 2
Advanced in-house pipe welding and coating manufacturing plants.
- 3
Over 95% of operational revenue generated from repeat clients.
- 4
Multi-state manufacturing footprint spanning four Indian states.
- 5
Experienced promoter group with deep infrastructure expertise.
Risks
5- 1
High revenue dependence on Indian Railways and state tenders.
- 2
Top 5 clients account for over 85% of total operating revenue.
- 3
Substantial working capital needs funded by short-term loans.
- 4
Business relies on purchase orders without long-term contracts.
- 5
Indebtedness exposes the business to debt servicing and covenants.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 1.33 |
| Non-Institutional Investors (NIIs) | 1.89 |
| Retail Individual Investors (RIIs) | 1.75 |
| Employee | N/A |
| Total | 1.79 |