K2m
ANGEL ONE
(₹20/Trade)
Open Account
MOTILAL OSWAL
Open Account
Stock Market Institue
Trial Class
Book Now


IPOs, NCDs, OFS, Rights Issues, Buyback and Stock Brokers

IPO Details

  • IPO Date
    [.]
  • Listing Date
    [.]
  • Face Value
    ₹10 per share
  • Price Band
  • Lot Size
  • Sale Type
    Fresh capital cum OFS
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE, NSE
  • Fresh Issue
    [.] shares (agg. up to ₹125 Cr)
  • Offer for Sale
    15,00,000 shares of ₹10 (agg. up to ₹[.] Cr)
  • Share Holding Pre Issue
    1,28,32,11,722 shares

IPO DRHP Status

Description Date
Filed with SEBI/Exchange Mon, Sep 29, 2025
Offer document returned Thu, Oct 30, 2025
Filed with SEBI/Exchange Tue, Dec 30, 2025
SEBI/Exchange approval received Thu, Apr 9, 2026

Issue Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50 % of the Offer Size
Retail Shares Offered Not less than 35%of the Net Offer
NII Shares Offered Not less than 15% of the Offer Size

About Vishal Nirmiti Ltd.

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

Competitive Strengths:

  • Execution capabilities with industry experience and strong operating systems, providing comprehensive solution.
  • Dedicated focus on railway infrastructure development and manufacture of PSC sleepers
  • Deeply entrenched, long term relationships with customers
  • Experienced Management Team driving the growth of the Company

Company Financials (Restated)

Vishal Nirmiti Ltd.’s revenue increased by 31% and profit after tax (PAT) rose by 586% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended 30 Sep 2025 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets 326.49 296.61 242.04 224.50
Total Income 136.75 324.86 247.93 270.58
Profit After Tax 8.41 23.64 3.45 3.01
EBITDA 21.67 46.48 23.14 23.36
NET Worth 69.53 61.12 38.12 34.56
Reserves and Surplus 50.17 59.76 36.76 3.32
Total Borrowing 85.38 88.05 91.75 82.15
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 Funding Working Capital Requirements
    65.00
  • 2 Repayment and/ or pre-payment, in part or full of term loans
    20.00
  • 2 General corporate purposes

Key Performance Indicator (KPI)

KPI Mar 31, 2025
ROE 47.21%
ROCE 30.32%
Debt/Equity 1.43
RoNW 47.63%
PAT Margin 7.42%
EBITDA Margin 14.59%

 

Pre IPO Post IPO
Promoter Holding 73.42%
Brij B Tapadiya, Ajay Bhagwandas Tapadiya, Pavan Vithaldas Tapadiya, Akhil Ranchod Tapadiya, Naveen Tapadiya, Rajendrakumar Badrinarayan Tapadiya, Suyash Vithaldas Tapadiya, Vedant Tapadiya and Keshav Tapadiya are the company promoters.

IPO Registrar

MUFG Intime India Pvt.Ltd.

  • +91-22-4918 6270
  • vishalnirmiti.ipo@in.mpms.mufg.com
  • Visit Website

IPO Lead Manager(s)

  1. Saffron Capital Advisors Pvt.Ltd.  (Past IPO Performance)

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Vishal Nirmiti Ltd. Address
303, 17 Elphinstone House,
Marzban Road, New Empire Cinema,
Fort
Mumbai, Maharashtra, 400001

IPO FAQs

Vishal Nirmiti IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .

The Vishal Nirmiti IPO open and close dates are not available as of now.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel; One customers can apply online in Vishal Nirmiti IPO using UPI as a payment gateway. Angel; One customers can apply in Vishal Nirmiti IPO by login into Angel; One Console (back office) and submitting an IPO application form.

Steps to apply in Vishal Nirmiti IPO through Angel; One

  1. Visit the Angel; One website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the ‘Vishal Nirmiti IPO’ row and click the ‘Bid’ button.
  4. Enter your UPI ID, Quantity, and Price.
  5. Submit IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel; One IPO Application Process Review for more detail.

The Vishal Nirmiti IPO dates are not announced. Please check back again after some time.

Vishal Nirmiti IPO lot size and the minimum order quantity is not available at this time. Please check again later.

You can apply in Vishal Nirmiti IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Vishal Nirmiti IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Vishal Nirmiti IPO allotment status.

The Vishal Nirmiti IPO listing date is not yet announced. The tentative date of listing is .

Stock Broker Reviews India

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited 2

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

Advertisments

Compare India's most trusted brokers side-by-side to find your perfect match.