Vishal Nirmiti IPO to open on Sep 30; price band fixed at ₹208-220
The IPO comprises a fresh issue of up to 69.71 lakh equity shares, aggregating to ₹145 crore at the upper end of the price band, and an offer for sale (OFS) of 15 lakh shares worth ₹33 crore
Vishal Nirmiti Ltd, a company involved in civil engineering, manufacturing, and construction, has set a price range of ₹208-₹220 per share for its upcoming initial public offering (IPO). The IPO will commence for subscription on September 30. The company plans to issue a maximum of 69.71 lakh equity shares, valued at ₹145 crore at the peak of the price band, and also offer 15 lakh shares through an offer for sale (OFS) worth ₹33 crore.
This results in a total issue size of ₹178 crore at the upper end of the price range. The funds raised from the IPO will be used to address working capital needs, settle loans, and cover general corporate expenses. Vishal Nirmiti specializes in manufacturing and trading pre-stressed concrete sleepers for railways, pre-cast and pre-stressed concrete products, as well as manufacturing mild steel pipes, liners, and pre-stressed pipes for pumped storage projects.
Additionally, the company offers engineering, procurement, infrastructure, and construction services for railway and various civil engineering, irrigation, and infrastructure projects. The shares are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). All comments must be in English and written as complete sentences, avoiding any abusive or personal language.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Vishal Nirmiti Sets September 30 Date For IPO Launch, Price Band Announced At ₹208–₹220 Per Share freepressjournal.in
- Vishal Nirmiti IPO to open on Sep 30; price band fixed at Rs 208-220 economictimes.indiatimes.com
