
Capital Goods · NSE / BSE
Vishal Nirmiti Limited, incorporated on June 30, 1994 as Sejal Farms Private Limited and renamed in 2025, is engaged in civil engineering, manufacturing and construction activities focused on railway and infrastructure products. The company manufactures pre-stressed concrete (PSC) sleepers for railway projects, precast concrete products, and large-diameter MS pipes, MS liners and penstock pipes used in pumped storage projects. Its manufacturing segment includes PSC sleepers, MS pipes and precast products such as noise barriers and cable ducts, contributing 75.01% of revenue in Fiscal 2026. The company also undertakes sub-contracted job work for MS pipes, liners, penstocks and precast products, along with wind power generation from a 1.8 MW facility, leasing and scrap sales. Its PSC sleeper manufacturing facilities are located in Mohol, Maharashtra; Bankhedi, Madhya Pradesh; Kandrori, Himachal Pradesh; and Timba, Gujarat, while its precast facility is situated in Nadiad, Gujarat. The company had an installed PSC sleeper capacity of 11,00,124 units in Fiscal 2026 and serves customers including Indian Railways, Larsen & Toubro Limited, KEC International Limited and Kalpataru Projects International Limited. As of June 30, 2026, its order book stood at ₹58,176.82 lakh and it had 420 employees on payroll. Going forward, the company plans to strengthen its existing business segments, increase manufacturing automation and expand into new geographical markets through successful tender participation.
Price Band
₹208 – ₹220
Issue Size
₹809.09 L Cr
Lot Size
68 shares
GMP
+0.9%
Est. Listing
₹222
at current GMP
Subscribed
1.79x
overall
Open
30 Sep 2026
Close
5 Oct 2026
Allotment
6 Oct 2026
Refund
7 Oct 2026
Demat Credit
8 Oct 2026
Listing
8 Oct 2026
Last updated: 8 Oct 2026
Current Premium
Issue Price (Upper)
₹220
Band: ₹208 – ₹220
Estimated Listing Price
₹222
Upper price + GMP
Lot Size
68 shares
Min investment ₹14,960
Estimated Profit / Lot
₹136
68 × ₹2
Grey Market Premium trend
+₹2
▲ 0 today
Updated 1 minute ago
| Date | GMP (₹) | GMP % | Est. Listing |
|---|---|---|---|
| 8 Oct 2026 | +₹2 | 0.9% | ₹222 |
| 7 Oct 2026 | +₹2 | 0.9% | ₹222 |
| 6 Oct 2026 | +₹2 | 0.8% | ₹222 |
GMP is unofficial market data. Not a guarantee of listing performance.
Vishal Nirmiti Ltd is bringing an initial public offering (IPO) in the Capital Goods sector with an aggregate issue size of ₹80,90,909 Crores. The shares are offered at a price band of ₹208 to ₹220 per equity share on NSE and BSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 68 shares (approx. ₹14,960 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Link Intime India Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2026-10-08, while un-allotted funds or UPI block mandates will be released on 2026-10-07.
The latest grey market premium for Vishal Nirmiti Ltd IPO is ₹2, which indicates an expected listing price of ₹222.
Kostak rate is the profit amount an investor earns by selling their entire IPO application in the grey market before allotment is finalized.
No. GMP is an unofficial indicator discovered between dealers outside of SEBI-regulated exchanges. Actual listing price is determined by demand-supply discovery on NSE/BSE during the pre-open auction.