Vishal Nirmiti Moves Closer to IPO, Refiles Draft Papers With SEBI

Pune-based Vishal Nirmiti Limited has refiled draft IPO papers with SEBI, seeking to raise funds through a combination of fresh equity issuance and an offer for sale.

The proposed public issue includes a fresh issue of equity shares aggregating up to ₹125 crore and an offer for sale of up to 15 lakh equity shares by promoter group entity Vaman Prestressing Company. The equity shares carry a face value of ₹10 each. The company had earlier submitted its DRHP to SEBI in September 2025.

As outlined in the DRHP, the company plans to use the net proceeds to meet working capital requirements, repay outstanding term loans, and for general corporate purposes.

Vishal Nirmiti is engaged in the manufacturing of PSC sleepers, which are used across broad gauge, meter gauge and standard gauge railway lines. These sleepers are produced using high-tensile steel wires or strands tensioned prior to concrete casting. The company also manufactures precast concrete elements such as noise barriers and cable ducts for India’s first high-speed rail corridor between Ahmedabad and Mumbai under a subcontracting arrangement.