₹178 Crore IPO Alert: Vishal Nirmiti Issue Opens September 30—Check Price Band

Vishal Nirmiti Limited is set to open its initial public offering (IPO) on September 30, with the issue closing on October 5, 2026.

The price band has been fixed at ₹208 to ₹220 per equity share, with each share having a face value of ₹10. Investors can bid for a minimum of 68 equity shares and in multiples of 68 shares thereafter.

The IPO comprises a fresh issue of up to ₹145 crore and an offer for sale (OFS) of up to 15 lakh equity shares by promoter group selling shareholder Vaman Prestressing Company Private Limited. The OFS is valued at ₹31.20 crore at the floor price and ₹33 crore at the cap price.

At the cap price, the total offer size stands at ₹178 crore.

Vishal Nirmiti plans to use ₹75 crore of the net proceeds towards funding working capital requirements, while another ₹19 crore will be used for repayment or pre-payment of term loans.

The company is engaged in manufacturing pre-stressed concrete sleepers for railways, precast and pre-stressed concrete products, as well as fabrication and erection of mild steel pipes, MS liners and penstock pipes for pumped storage projects.

The equity shares are proposed to be listed on the BSE and NSE.