GMP IPO Watch
Vishal Nirmiti IPO
Vishal Nirmiti IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Vishal Nirmiti IPO Details
Key facts at a glance| IPO Open Date | 29 September 2026 | IPO Close Date | 4 October 2026 |
|---|---|---|---|
| Basis of Allotment | 5 October 2026 | Listing Date | 7 October 2026 |
| Price Band | ₹208 - ₹220 per share | Face Value | ₹10 per share |
| Market Lot Size | 68 Shares | Min Investment (Retail) | ₹14,960 |
| Total Issue Size | ₹178 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹145 Cr | Offer for Sale (OFS) | ₹33 Cr |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | MUFG Intime India Pvt. Ltd. | ||
Vishal Nirmiti IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 29 September 2026 | Confirmed |
| IPO Close Date | 4 October 2026 | Confirmed |
| Basis of Allotment | 5 October 2026 | Tentative |
| Initiation of Refunds | 7 October 2026 | Tentative |
| Credit of Shares to Demat | 7 October 2026 | Tentative |
| IPO Listing Date | 7 October 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 5 October 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Vishal Nirmiti IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 68 Shares | ₹14,960 |
| Retail (Max) | 13 Lots | 884 Shares | ₹1,94,480 |
| S-HNI (Min) | 14 Lots | 952 Shares | ₹2,09,440 |
| S-HNI (Max) | 66 Lots | 4,488 Shares | ₹9,87,360 |
| B-HNI (Min) | 67 Lots | 4,556 Shares | ₹10,02,320 |
Vishal Nirmiti IPO Live GMP & Movement History
Daily unofficial grey market trends₹-5 -2.3%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 8 Oct 2026 | ₹2 | ₹222.00 | +0.91% |
| 7 Oct 2026 | ₹2 | ₹222.00 | +0.91% |
| 6 Oct 2026 | ₹2 | ₹222.00 | +0.91% |
| 5 Oct 2026 | ₹20 | ₹240.00 | +9.09% |
| 3 Oct 2026 | ₹20 | ₹240.00 | +9.09% |
| 2 Oct 2026 | ₹20 | ₹240.00 | +9.09% |
| 1 Oct 2026 | ₹35 | ₹255.00 | +15.91% |
| 30 Sept 2026 | ₹6 | ₹226.00 | +2.73% |
| 29 Sept 2026 | ₹2 | ₹222.00 | +0.91% |
Vishal Nirmiti IPO Subscription Status
Demand breakdown by investor categoryVishal Nirmiti Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2023 | 224.50 Cr. | 270.58 Cr. | 266.65 Cr. | 3.01 Cr. |
| 2024 | 242.04 Cr. | 247.93 Cr. | 243.35 Cr. | 3.45 Cr. |
| 2025 | 296.61 Cr. | 324.86 Cr. | 293.72 Cr. | 23.64 Cr. |
| 2026 | 334.92 Cr. | 344.13 Cr. | 310.35 Cr. | 24.98 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
Vishal Nirmiti IPO Valuation & KPIs
Key metrics pre-issueVishal Nirmiti Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| GPT Infraprojects Limited | 14.83 | 7.70 | 18.25 | 41.77 | 1,289.92 Cr. |
| Indian Hume Pipe Company Limited | 13.86 | 26.79 | 9.51 | 281.76 | 1,305.57 Cr. |
About Vishal Nirmiti
Vishal Nirmiti is a civil engineering, construction, and manufacturing firm operating in 2 segments. Its manufacturing arm produces pre-stressed concrete sleepers, pre-cast barriers, and steel/penstock pipes for Indian Railways and private developers. Its services arm delivers EPC solutions for railway, irrigation, and road infrastructure. The company supports regional projects through specialized manufacturing facilities across Maharashtra, Madhya Pradesh, Gujarat, and Himachal Pradesh.
Vishal Nirmiti IPO Reservation & Share Quotas
The Vishal Nirmiti IPO reservation is divided among qualified institutional buyers, non-institutional investors and retail investors. The retail category accounts for the largest portion of the issue, followed by the NII category and the QIB category.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| QIB (Ex. Anchor) | 80,909 Shares | 1% |
| NII Shares Offered | 23,46,364 Shares | 29% |
| Retail Shares Offered | 56,63,636 Shares | 70% |
Note: The reservation details are based on the information provided for the Vishal Nirmiti IPO.
Vishal Nirmiti IPO Important Dates
The Vishal Nirmiti IPO is scheduled to open on September 30, 2026, and close on October 5, 2026. The basis of allotment is expected to be finalized on October 6, followed by refunds and demat credit on October 7. The shares are scheduled to be listed on October 8, 2026.
| Particular | Details |
|---|---|
| IPO Open Date | September 30, 2026 |
| IPO Close Date | October 5, 2026 |
| Basis of Allotment | October 6, 2026 |
| Refunds | October 7, 2026 |
| Credit to Demat Account | October 7, 2026 |
| IPO Listing Date | October 8, 2026 |
Note: The above schedule is based on the provided Vishal Nirmiti IPO dates and may be subject to change.
Vishal Nirmiti IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 30 Sept 2026 |
| IPO Close Date | 05 Oct 2026 |
| Basis of Allotment | 06 Oct 2026 |
| Refunds | 07 Oct 2026 |
| Credit to Demat Account | 07 Oct 2026 |
| IPO Listing Date | 08 Oct 2026 |
Note: The timeline for Vishal Nirmiti IPO is tentative and subject to change.
Vishal Nirmiti Objects of the Issue & Utilisation of Proceeds
The proceeds from the Vishal Nirmiti IPO are proposed to be utilised primarily for meeting the company's working capital requirements and reducing its outstanding term loan obligations. The issue proceeds also include an allocation for general corporate purposes.
| Purpose | Crores |
|---|---|
| Funding Working Capital Requirements | ₹75.00 |
| Repayment and/ or pre-payment, in part or full of term loans | ₹19.00 |
| General Corporate Purpose | ₹- |
Note: The utilisation details above are based on the information provided for the Vishal Nirmiti IPO.
Vishal Nirmiti Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Working Capital Requirement | 75 (51.72%) |
| Repayment and/or pre-payment of certain borrowings | 19 (13.10%) |
| General Corporate Purposes | 51 (35.18%) |
Note: Objectives are as specified in the DRHP/RHP documents of Vishal Nirmiti.
Vishal Nirmiti Company Financial Report
The Vishal Nirmiti financial report presents the company's revenue, expenses, profit after tax (PAT), and asset position across the reported periods. The company recorded growth in revenue and PAT in 2025 and continued its financial performance in 2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹270.58 | ₹266.65 | ₹3.01 | ₹224.50 |
| 2024 | ₹247.93 | ₹243.35 | ₹3.45 | ₹242.04 |
| 2025 | ₹324.86 | ₹293.72 | ₹23.64 | ₹296.61 |
| 2026 | ₹344.13 | ₹310.35 | ₹24.98 | ₹334.92 |
Note: Amounts are presented in ₹ Crores based on the financial figures provided for Vishal Nirmiti.
Vishal Nirmiti Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 270.58 Cr. | 266.65 Cr. | 3.01 Cr. | 224.50 Cr. |
| 2024 | 247.93 Cr. | 243.35 Cr. | 3.45 Cr. | 242.04 Cr. |
| 2025 | 324.86 Cr. | 293.72 Cr. | 23.64 Cr. | 296.61 Cr. |
| 2026 | 344.13 Cr. | 310.35 Cr. | 24.98 Cr. | 334.92 Cr. |
Note: Financial numbers for Vishal Nirmiti are in ₹ Crores unless stated otherwise.
Vishal Nirmiti Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 33.67% |
| ROCE | 28.02% |
| EBITDA Margin | 15.10% |
| PAT Margin | 7.37% |
| Debt to Equity Ratio | 1.01 |
| Earning Per Share (EPS) | 12.61 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 33.87% |
| Net Asset Value (NAV) | 43.61 |
Note: Valuation KPIs for Vishal Nirmiti are computed for FY2026.
Vishal Nirmiti Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| GPT Infraprojects Limited | 7.70 | 14.83 | 18.25 | 41.77 | 1,289.92 Cr. |
| Indian Hume Pipe Company Limited | 26.79 | 13.86 | 9.51 | 281.76 | 1,305.57 Cr. |
Note: Peer group comparisons for Vishal Nirmiti are sourced from DRHP filings.
Vishal Nirmiti IPO FAQs
Vishal Nirmiti IPO opens for subscription on 29 September 2026 and closes on 4 October 2026.
The price band for Vishal Nirmiti IPO is set at ₹208.00 to ₹220.00 per share.
The minimum market lot size is 68 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 68 Shares (₹14,960).
The latest Grey Market Premium (GMP) for Vishal Nirmiti IPO is ₹-5.00. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Vishal Nirmiti IPO is tentatively scheduled for 5 October 2026, and shares are expected to list on the stock exchanges on 7 October 2026.
MUFG Intime India Pvt. Ltd. is the official registrar for Vishal Nirmiti IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.