
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
Overall Subscription
1.79x
Total Demand
QIB Multiplier
1.33x
Institutions & Funds
NII / HNI
1.89x
High Net-Worth
Retail (RII)
1.75x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 80,909 | 107,372 | 1.33x |
| NIB | 2,346,364 | 4,445,908 | 1.89x |
| HNIs(10L +) | 1,563,973 | 2,804,184 | 1.79x |
| HNIs (2-10L) | 782,391 | 1,641,724 | 2.10x |
| RETAIL | 5,663,636 | 9,893,524 | 1.75x |
| Total | 10,437,273 | 18,892,712 | 1.79x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| HNIs(10L +) | 1,643 | 319 | 0.19x |
| HNIs (2-10L) | 822 | 1,621 | 1.97x |
| RETAIL | 83,289 | 123,256 | 1.48x |
| Total Applications | 85,754 | 125,196 | 1.46x |
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
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 Vishal Nirmiti Ltd IPO aggregate issue size is ₹80,90,909 Crores with an equity price band set at ₹208 to ₹220 per equity share. The retail lot size is 68 shares requiring a minimum capital outlay of approx. ₹14,960.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. You can track QIB, NII/HNI, and Retail category multiples directly on our dedicated live subscription page.
The basis of allotment will be published on the official registrar portal (Link Intime India Private Limited) and the BSE status verification website on or around 2026-10-06.