Vishal Nirmiti Limited
Key dates
Issue reservation
₹178 CrLot ladder — how much to bid
1 lot = 68 sharesIssue details
Share-wise
by category| Category | Book Size | Subscription | No. of Times |
|---|---|---|---|
| QIB | 80,909₹1.78 Cr | 1,07,372₹2.36 Cr | 1.33× |
| HNI | 23,46,364₹51.62 Cr | 44,45,908₹97.81 Cr | 1.89× |
| HNI (10L+) | 15,63,973₹34.41 Cr | 28,04,184₹61.69 Cr | 1.79× |
| HNI (2-10L) | 7,82,391₹17.21 Cr | 16,41,724₹36.12 Cr | 2.10× |
| Retail | 56,63,636₹124.60 Cr | 98,93,456₹217.66 Cr | 1.75× |
| Total | 80,90,909₹178.00 Cr | 1,44,46,736₹317.83 Cr | 1.79× |
*QIB Book Size is Gross — the anchor allocation is not on this record yet.
Application-wise
| Category | Req 1× | Total | Times |
|---|---|---|---|
| HNI (10L+) | 343 | 319 | 0.93× |
| HNI (2-10L) | 822 | 1,621 | 1.97× |
| Retail | 83,289 | 1,23,498 | 1.48× |
Total applications: 1,25,438
Subscription Demand
in ₹ crore| Category | Applied |
|---|---|
| QIB | 2.36 |
| HNI | 97.81 |
| HNI (10L+) | 61.69 |
| HNI (2-10L) | 36.12 |
| Retail | 217.66 |
| Total | 317.83 |
Amounts at the upper band (₹220). Times figures are computed from the shares this page shows so Book × Times = Subscribed always cross-checks.
Particulars | FY26 | FY25 | FY24 |
Assets | 334.92 | 296.61 | 242.04 |
Total Income | 344.13 | 324.86 | 247.93 |
PAT | 24.98 | 23.64 | 3.45 |
Net Worth | 86.34 | 61.12 | 38.12 |
Reserves & Surplus | 66.98 | 59.76 | 36.76 |
Total Borrowings | 87.42 | 88.05 | 91.75 |
Working Capital: ₹75 crore to support operational requirements.
Term Loan Repayment: ₹19 crore for repayment/prepayment of loans.
General Corporate Purposes: To meet routine corporate and strategic needs.
Incorporated in 1994, Vishal Nirmiti Limited (VNL), formerly Sejal Farms Private Limited, is a civil engineering, manufacturing, and construction company focused on railway and infrastructure projects.
The company manufactures Pre-Stressed Concrete (PSC) railway sleepers, precast and prestressed concrete products, and MS pipes, liners, and penstock pipes for pumped storage, hydropower, irrigation, and water infrastructure projects. It also provides EPC and construction services across railways, renewable power, irrigation, and industrial infrastructure.
Business Segments:
Manufacturing: PSC railway sleepers, MS pipes, liners, penstock pipes, and precast/prestressed products.
Services: EPC and construction, job-work contracts, hydro-mechanical structures, transportation, power generation, leasing, and scrap sales.
VNL has a pan-India presence across Maharashtra, Madhya Pradesh, Gujarat, Himachal Pradesh, Uttar Pradesh, Odisha, and Karnataka. As of June 30, 2026, the company employed 420 people and is led by a promoter group with over four decades of industry experience.
Company strengths
Strong execution capabilities and operating systems.
Focus on railway infrastructure and PSC sleepers.
Long-term customer relationships.
Experienced management team.
Promoters
Registered office & contact
Vishal Nirmiti Limited
Address - 303, 17 Elphinstone House,
Marzban Road, New Empire Cinema,
Fort
Mumbai, Maharashtra, 400001
📞 +91 9823877359
✉️ ipo@vishalnirmiti.com
What is the minimum investment in the Vishal Nirmiti Limited IPO?
One lot of 68 shares — ₹14,960 at the upper price band of ₹220.
How many bids can I place?
Up to 3 bids per application. Retail applications are capped at ₹2,00,000; above that you must apply in the HNI category.
When are the funds debited?
Funds are blocked via a UPI mandate at application and debited only on allotment. If shares are not allotted, the block is released automatically.
When will the shares list?
Tentative listing on 2026-10-08 on NSE / BSE.