Vishal Nirmiti Sets September 30 Date For IPO Launch, Price Band Announced At ₹208–₹220 Per Share

Mumbai: Vishal Nirmiti Ltd has set a price band of ₹208–₹220 per share for its initial public offering (IPO). Investors can subscribe from September 30 until October 5, according to a company advertisement published on Saturday.

The civil engineering and construction company plans to issue up to 69.71 lakh new shares. Existing shareholders will also sell up to 15 lakh shares through an offer for sale (OFS). Unlike the fresh issue, proceeds from the OFS will go to the selling shareholders.

How The Funds Will Be Used

Vishal Nirmiti intends to use money raised through the fresh issue to meet working capital requirements and repay loans. Part of the proceeds will also be available for general corporate purposes.

Working capital is particularly important for businesses that must buy materials, pay suppliers and carry out projects before receiving full payment from customers. Debt repayment could reduce the company’s financing costs, depending on the loans retired.

Railway And Infrastructure Business

The company manufactures pre-stressed concrete sleepers used in railway tracks, alongside other pre-cast and pre-stressed concrete products. It also fabricates mild steel pipes, liners and pre-stressed pipes for pumped storage projects.

Beyond manufacturing, Vishal Nirmiti provides engineering, procurement and construction services for railway infrastructure. Its work also covers civil engineering, irrigation and other infrastructure projects.

Proposed Stock Market Listing

Vishal Nirmiti has proposed listing its shares on both the BSE and the National Stock Exchange after the IPO. The offer brings a business spanning railway materials, construction services and pumped storage components to the primary market.

The published report describes the fresh issue as worth ₹145 crore and the overall IPO as ₹178 crore at the upper price band. Those amounts should be checked against the final offer documents: multiplying the stated share counts by ₹220 produces different figures.