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Vishal Nirmiti IPO Listing Price, Gain & Allotment
Listed
Mainboard IPO
BSE, NSE
Listed 8 Oct 2026
· updated 1 month ago
Price band
₹208 – 220
GMP
+₹2
Est. listing price₹222
Est. listing gain0.91%
Issue size₹178 Cr
Vishal Nirmiti IPO Details
Open DateWed, 30 Sep 2026
Close DateMon, 5 Oct 2026
Listing DateThu, 8 Oct 2026
Listing AtBSE, NSE
Price Band₹208 – 220 per share
Lot SizeAwaited
Min. InvestmentAwaited
Issue Size₹178 Cr
Vishal Nirmiti IPO Dates & Timeline
Tentative dates follow SEBI's T+3 listing timelineIPO Opens
Wed, 30 Sep
IPO Closes
Mon, 5 Oct
Basis of Allotment
Tue, 6 Oct
Tentative
Refunds Initiated
Wed, 7 Oct
Tentative
Shares Credited to Demat
Wed, 7 Oct
Tentative
Listing Date
Thu, 8 Oct
Vishal Nirmiti IPO GMP Today
All IPO GMP
GMP today
+₹2
Est. listing price
₹222
Est. gain %
0.91%
Est. profit / lot
—
GMP is an unofficial grey-market indicator and can change quickly. It does not guarantee listing gains.
Try the GMP calculator · What is GMP? · GMP of all IPOs
Final visitor sentiment
Visitor opinion poll, not investment advice.
Vishal Nirmiti IPO GMP Trend
29 Sep – 8 Oct · ₹0| Date | GMP | Est. listing |
|---|---|---|
| Thu, 8 Oct | +₹2 | ₹222 |
| Wed, 7 Oct | +₹2 | ₹222 |
| Tue, 6 Oct | +₹2 | ₹222 |
| Mon, 5 Oct | +₹8 | ₹228 |
| Sun, 4 Oct | +₹20 | ₹240 |
| Sat, 3 Oct | +₹20 | ₹240 |
| Fri, 2 Oct | +₹20 | ₹240 |
Vishal Nirmiti IPO Subscription Status
As of 5 Oct, 7:00 PM
Retail (RII)
1.67x
NII / HNI
1.81x
bHNI (>₹10L)
1.71x
sHNI (₹2–10L)
2.00x
QIB
1.27x
Total
1.71x
| Day-wise | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 · Thu, 1 Oct | 0.96x | 0.80x | 0.47x | 0.57x |
| Day 2 · Mon, 5 Oct | 1.27x | 1.81x | 1.67x | 1.71x |
Times subscribed per category, from NSE (bids on NSE and BSE combined). Final figures after bidding closed.
Vishal Nirmiti IPO Listing Price & Gain
Issue price₹220
Listing price (NSE)₹215
Listing gain-2.27%
Listing-day close₹204.25 (-7.2%)
The last GMP before listing (₹2) pointed to about ₹222; the shares opened 3.2 points below that estimate. How accurate is GMP?
Vishal Nirmiti IPO Allotment Status
The registrar for this IPO is MUFG Intime (Link Intime). You can also check on the exchange websites using your PAN or application number.
New to this? Read how to check IPO allotment status or see all IPOs awaiting allotment.
Vishal Nirmiti IPO analysis: what the numbers say
The issue size is ₹178 Cr.
Revenue rose from ₹247.93 Cr in FY24 to ₹344.13 Cr in FY26, a compound annual growth of 17.8%. Profit after tax grew from ₹3.45 Cr to ₹24.98 Cr. That is a net profit margin of 7.3% in FY26. Borrowings were 1.01 times net worth at the end of FY26.
The issue closed subscribed 1.71x overall (QIB 1.27x, NII 1.81x and retail 1.67x). Vishal Nirmiti listed at ₹215 on 8 Oct 2026, -2.3% against the issue price of ₹220. The last GMP before listing had pointed to about ₹222, so it opened 3.2 points below the grey market estimate. It closed the first day at ₹204.25 (-7.2%).
Worked out by IPO Darbaar from the offer document, exchange data and the latest GMP. For information only, not a recommendation.
Objects of the Vishal Nirmiti IPO
- To fund the Company's working capital requirements. ~ Rs. 75 Cr.
- Repayment and/ or pre-payment, in part or full, of term loans. ~ Rs. 19 Cr.
- General Corporate Purposes.
Vishal Nirmiti IPO Strengths & Risks
Strengths
- Execution capabilities with industry experience and strong operating systems, providing a comprehensive solution.
- Dedicated focus on railway infrastructure development and manufacture of PSC sleepers.
- Deeply entrenched, long-term relationships with customers.
- Experienced Management Team driving the growth of the Company.
Risks
- Heavy reliance on Indian Railways and a few primary clients, leaving order flow vulnerable to changes in public sector spending or policy shifts.
- Operations require high inventory and large working-capital commitments, which can strain liquidity during delayed contract payments.
- Profit margins are susceptible to price volatility in core raw materials like cement and steel.
Vishal Nirmiti Financials
Restated, ₹ crore
FY24
FY25
FY26
Revenue Profit after tax
| Period ended | FY2431 Mar 2024 | FY2531 Mar 2025 | FY2631 Mar 2026 |
|---|---|---|---|
| Revenue | 247.93 | 324.86 | 344.13 |
| Profit after tax | 3.45 | 23.64 | 24.98 |
| Net worth | 38.12 | 61.12 | 86.34 |
| Total assets | 242.04 | 296.61 | 334.92 |
| Total borrowings | 91.75 | 88.05 | 87.42 |
| PAT margin | 1.39% | 7.28% | 7.26% |
Vishal Nirmiti Key Performance Indicators (KPIs)
ROE33.67%
ROCE28.02%
RoNW33.87%
Debt / Equity1.01
About Vishal Nirmiti IPO
Vishal Nirmiti is a mainboard IPO worth ₹178 crore with a price band of ₹208 – 220 per share. The issue opens on 30 September 2026 and closes on 5 October 2026. Shares are expected to list on 8 October 2026 on BSE, NSE.
Vishal Nirmiti IPO is a mainboard issue of Rs. 178 Cr (0.80 crore shares) by Vishal Nirmiti Limited, which is a civil engineering, manufacturing, and construction company that primarily deals in manufacturing and Pre-Stressed Concrete (PSC) sleepers for railways, pre-cast and pre-stressed concrete products, as well as fabrication and erection of Mild Steel (MS) pipes, liners, and penstock pipes for Pumped Storage Projects (PSPs).
The company also provides engineering, procurement, and construction (EPC) services for railway infrastructure, irrigation, and civil engineering projects across sectors such as railways, renewable power, and industrial infrastructure.
Manufacturing segment: Includes PSC sleeper manufacturing for Indian Railways, DFCCIL, and private clients, as well as MS pipes, MS liners, and penstock pipes for hydro power, lift irrigation, water supply, and infrastructure projects.
Services segment: Covers job work contracts for MS pipes, liners, penstock pipes, pre-cast and pre-stressed elements (such as noise barriers and cable ducts), hydro-mechanical structures, as well as construction works, power generation through windmills, transportation, leasing, and sale of scrap.
Vishal Nirmiti IPO: FAQs
What is the subscription status of Vishal Nirmiti IPO?
The issue closed subscribed 1.71x overall (QIB 1.27x, NII 1.81x and retail 1.67x). Figures are from NSE and cover bids on both exchanges.
What was the listing price of Vishal Nirmiti IPO?
Vishal Nirmiti listed at ₹215 on 8 Oct 2026, -2.3% against the issue price of ₹220. The last GMP before listing had pointed to about ₹222, so it opened 3.2 points below the grey market estimate. It closed the first day at ₹204.25 (-7.2%).
What is the price band of Vishal Nirmiti IPO?
The Vishal Nirmiti IPO price band is ₹208 – 220 per share and the issue size is ₹178 crore.
When does Vishal Nirmiti IPO open and close?
Vishal Nirmiti IPO opens for subscription on Wednesday, 30 September 2026 and closes on Monday, 5 October 2026. Bids are accepted until 5 PM on the closing day.
What is the Vishal Nirmiti IPO allotment date?
The basis of allotment for Vishal Nirmiti IPO is expected to have been finalised on Tuesday, 6 October 2026, one working day after the issue closes (SEBI T+3 timeline).
How to check Vishal Nirmiti IPO allotment status?
Visit the website of the registrar, MUFG Intime (Link Intime), select Vishal Nirmiti IPO and search by PAN or application number. You can also check on the IPO allotment status page or on the BSE and NSE websites.
When is Vishal Nirmiti IPO listing date?
Vishal Nirmiti shares listed on BSE, NSE on Thursday, 8 October 2026 at ₹215 per share.
Is Vishal Nirmiti a mainboard or SME IPO?
Vishal Nirmiti is a mainboard IPO, listing on the main board of BSE, NSE.
Last updated 6 Oct 2026, 5:17 AM IST. GMP is unofficial and indicative; dates after the issue closes are tentative. Not investment advice.