IPO Details
| IPO Date | 30 Sep to 5 Oct, 2026 |
| Listing Date | Thu, Oct 8, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹208 to ₹220 |
| 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 |
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
| Retail (Min) | 1 | 68 | ₹14,960 |
| Retail (Max) | 13 | 884 | ₹1,94,480 |
| S-HNI (Min) | 14 | 952 | ₹2,09,440 |
| S-HNI (Max) | 66 | 4488 | ₹9,87,360 |
| B-HNI (Min) | 67 | 4556 | ₹10,02,320 |
Financial Information
| Assets | 334.92 | 296.61 | 242.04 |
| Total Income | 344.13 | 324.86 | 247.93 |
| Profit After Tax | 24.98 | 23.64 | 3.45 |
| EBITDA | 51.13 | 46.48 | 23.14 |
| NET Worth | 86.34 | 61.12 | 38.12 |
| Reserves and Surplus | 66.98 | 59.76 | 36.76 |
| Total Borrowing | 87.42 | 88.05 | 91.75 |
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 |
| Price to Book Value | 5.04 |
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
: Total
Disclaimer
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We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on Information published on this application.
No financial information whatsoever published anywhere, within this application, should be considered as advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever
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Day Wise GMP
IPO Reservation
| QIB | Not more than 1% of the Offer Size |
| Retail | Not less than 70%of the Net Offer |
| NII | Not less than 29% of the Offer Size |
