Vishal Nirmiti IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Return Estimator (GMP*)
Financial Analysis
| Metric | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Revenue | 270.58 | 247.93 | 324.86 | 344.13 |
| Expense | 266.65 | 243.35 | 293.72 | 310.35 |
| Profit (PAT) | 3.01 | 3.45 | 23.64 | 24.98 |
| Total Assets | 224.50 | 242.04 | 296.61 | 334.92 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| GPT Infraprojects Limited | 7.70 | 14.83 | 18.25 | 41.77 | 1,289.92 Cr |
| Indian Hume Pipe CompanyLimited | 26.79 | 13.86 | 9.51 | 281.76 | 1,305.57 Cr |
Promoters: Brij B Tapadiya, Ajay Bhagwandas Tapadiya, Pavan Vithaldas Tapadiya, Akhil Ranchod Tapadiya, Naveen Tapadiya, Rajendrakumar Badrinarayan Tapadiya, Suyash Vithaldas Tapadiya, Vedant Tapadiya and Keshav Tapadiya
Strengths & Risks
- Strong return on equity — 34%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
- Elevated leverage — debt/equity of 1.01.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Incorporated in 1994, Vishal Nirmiti is one of the leading civil engineering, manufacturing, and construction companies that manufacture 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 firm also offers EPC services for railway infrastructure, irrigation, and civil engineering projects, catering to various sectors such as railways, renewable power, and industrial infrastructure. Vishal Nirmiti has a pan-India presence across Maharashtra, Madhya Pradesh, Gujarat, Himachal Pradesh, Uttar Pradesh, Odisha, and Karnataka. Moreover, the firm is backed by experienced promoters and has over 4 years of industry experience.
Vishal Nirmiti Ltd., 303, 17 Elphinstone House,, Marzban Road, New Empire Cinema,, Fort, Mumbai, Maharashtra, 400001
| Purpose | Amount (Cr) |
|---|---|
| Funding Working Capital Requirements | 75.00 |
| Repayment and/ or pre-payment, in part or full of term loans | 19.00 |
| General Corporate Purpose | - |
Resources & Documents
Vishal Nirmiti has set a price band of Rs 208–Rs 220 per share for an issue size of Rs 178 crore. The Mainboard issue is scheduled to open for subscription on September 30, 2026 — 2 days from now.
Incorporated in 1994, Vishal Nirmiti is one of the leading civil engineering, manufacturing, and construction companies that manufacture 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 firm also offers EPC services for railway infrastructure, irrigation, and civil engineering projects, catering to various sectors such as railways, renewable power, and industrial infrastructure.
The issue is promoted by Brij B Tapadiya, Ajay Bhagwandas Tapadiya, Pavan Vithaldas Tapadiya, Akhil Ranchod Tapadiya, Naveen Tapadiya, Rajendrakumar Badrinarayan Tapadiya, Suyash Vithaldas Tapadiya, Vedant Tapadiya and Keshav… with Saffron Capital Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding Working Capital Requirements (Rs 75 crore) and Repayment and/ or pre-payment, in part or full of term loans (Rs 19 crore).
On fundamentals, the company is posting revenue growth of 5.9%, a profit margin of 7.3%, return on equity of 33.7% in its most recent reported period. Listed peers in this segment include GPT Infraprojects Limited (P/E 14.83x) and Indian Hume Pipe CompanyLimited (P/E 13.86x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
Vishal Nirmiti IPO GMP — What It Means
No active grey market premium has been recorded for Vishal Nirmiti IPO yet. GMP is an unofficial, dealer-quoted indicator of expected listing-day demand — not a guaranteed listing price — and it can change quickly once bidding opens.
See the full Vishal Nirmiti GMP history and trend, or learn how grey market premium works and how reliable it is.
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