BAJAJ FINSERV DIRECT LIMITED
IPO-Insights

Vishal Nirmiti IPO Updates

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Anshika

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Learn about Vishal Nirmiti Limited’s Draft Red Herring Prospectus filing, business operations, financial context, and the proposed utilisation of funds as outlined in public disclosures. 

Vishal Nirmiti Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as part of its plan to raise capital through an initial public offering. The DRHP outlines the company’s business profile, operational capabilities, financial overview, and the broad structure of the proposed public issue.

Vishal Nirmiti IPO Filing (DRHP)

The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.

Filing Overview

Vishal Nirmiti Limited filed its Draft Red Herring Prospectus with SEBI in December 2025, formally initiating its IPO process. The filing is currently under regulatory review. Following SEBI observations and approvals, the company will proceed with filing the Red Herring Prospectus (RHP), announcement of the price band, and disclosure of IPO dates. The equity shares are proposed to be listed on recognised stock exchanges in India, subject to regulatory clearances.

Issue Structure

As per the DRHP, the proposed IPO is expected to comprise the following components:

Particulars Details

Issue Type

Fresh Issue of Equity Shares and Offer for Sale (OFS)

Face Value

To be disclosed in RHP

Issue Size

To be determined based on final price band

Proposed Listing

NSE and BSE

Price Band

To be announced in RHP

Book Running Lead Manager

To be disclosed

Registrar to the Issue

To be disclosed

These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.

About the Company

Vishal Nirmiti Limited operates in the infrastructure and civil engineering segment, with a focus on engineering, manufacturing, and construction (EPC) activities. The company is engaged in the manufacture of pre-stressed concrete (PSC) sleepers, precast concrete products, and the fabrication and erection of mild steel and penstock pipes, primarily serving railway, irrigation, and infrastructure projects.

Its operations span engineering, project execution, quality control, and project management, supported by in-house manufacturing facilities, construction equipment, technical teams, and established relationships with government authorities, contractors, and suppliers. The company’s business model emphasises execution capability, adherence to quality and safety standards, and timely project delivery.

IPO Objectives

According to the DRHP, the proceeds from the fresh issue are proposed to be utilised towards the following broad objectives:

Fund Allocation Purpose

Working Capital Enhancement

Funding day-to-day operational needs, including material procurement and contractor payments

Debt Repayment (if any)

Optimisation of capital structure and reduction of borrowing costs

General Corporate Purposes

Administrative and strategic flexibility

These objectives aim to strengthen operational capabilities, accelerate project execution, and support growth in India’s construction and real estate development market.

Financial Highlights

The DRHP provides an overview of Vishal Nirmiti Limited’s financial performance, reflecting its operational scale and business growth.

Key Financial Metrics (as disclosed in DRHP)

Fiscal Year / Period Revenue (₹ crore) EBITDA (₹ crore) Profit After Tax (₹ crore)

FY24

242.88

23.14

3.45

FY25

318.51

46.48

23.63

H1 FY26

135.24

Not Disclosed

8.41

*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.

Vishal Nirmiti IPO Timeline Summary

The table below summarises the current status of the IPO process based on publicly available information:

Milestone / Stage Date (or Status) Details

DRHP filed with SEBI

December 2025

Draft Red Herring Prospectus submitted for regulatory review

SEBI observations

Awaited

Subject to regulatory review

SEBI approval

Awaited

Required to proceed with IPO

Red Herring Prospectus (RHP)

To be announced

Post SEBI observations

IPO Opening Date

To be announced

To be disclosed in RHP

IPO Closing Date

To be announced

To be disclosed in RHP

Allotment Date

To be announced

Post IPO closure

Credit to DEMAT Accounts

To be announced

Post allotment

Listing on NSE/BSE

To be announced

Subject to completion of listing formalities

Note: Investors should refer to official filings for final IPO dates to learn more about MV Electrosystems Limited IPO listing details and price, and listing timelines.

Check other upcoming ipo’s here : Upcoming IPO

Disclaimer

This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.

Sources

  • LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo

  • Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo 

  • Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/ 

  • NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos 

  • Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner 

FAQs

When did Vishal Nirmiti Limited file its DRHP?

Vishal Nirmiti Limited filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India on 30 December 2025, formally initiating the regulatory process for its proposed initial public offering of up to ₹125 Crores.​

The Vishal Nirmiti Limited IPO is currently at the Draft Red Herring Prospectus review stage, with observations from the Securities and Exchange Board of India awaited prior to finalising the Red Herring Prospectus and subscription timeline.​

The Vishal Nirmiti Limited IPO is proposed to comprise a fresh issue of equity shares aggregating up to ₹125 Crores along with an offer for sale by existing shareholders, with exact details disclosed in the Red Herring Prospectus.​

Subject to regulatory approvals, Vishal Nirmiti Limited plans to list its equity shares on both the National Stock Exchange and the Bombay Stock Exchange, enabling secondary market trading for investors post-allotment.​

Vishal Nirmiti Limited proposes utilising fresh issue proceeds for funding capital expenditure requirements, enhancing working capital, land acquisition, technology upgrades, infrastructure development, potential debt repayment, and general corporate purposes.​

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Hi! I’m Anshika
Financial Content Specialist
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Anshika brings 7+ years of experience in stock market operations, project management, and investment banking processes. She has led cross-functional initiatives and managed the delivery of digital investment portals. Backed by industry certifications, she holds a strong foundation in financial operations. With deep expertise in capital markets, she connects strategy with execution, ensuring compliance to deliver impact. 

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