Vishal Nirmiti Sets September 30 Date For IPO Launch, Price Band Announced At ₹208–₹220 Per Share
Mumbai: Vishal Nirmiti Ltd has set a price band of ₹208–₹220 per share for its initial public offering (IPO). Investors can subscribe from September 30 until October 5, according to a company advertisement published on Saturday. The civil engineering and construction company plans to issue up to 69.71 lakh new shares. Existing shareholders will also sell up to 15 lakh shares through an offer for…
Vishal Nirmiti Ltd has announced its initial public offering (IPO) with a price band ranging from ₹208 to ₹220 per share, as per a company advertisement published on Saturday. Investors can subscribe between September 30 and October 5. The company aims to issue up to 69.71 lakh new shares, with existing shareholders also allowed to sell up to 15 lakh shares via an offer for sale (OFS).
The funds from the fresh issue will be utilized to cover working capital needs and repay loans, while a portion of the proceeds will be available for general corporate purposes. Vishal Nirmiti specializes in manufacturing pre-stressed concrete sleepers for railway tracks, along with other pre-cast and pre-stressed concrete products.
The company also fabricates mild steel pipes, liners, and pre-stressed pipes for pumped storage projects, as well as providing engineering, procurement, and construction services for railway infrastructure, civil engineering, irrigation, and other infrastructure projects. After the IPO, Vishal Nirmiti plans to list its shares on both the BSE and the National Stock Exchange.
The company's IPO is estimated to raise ₹145 crore through the fresh issue and ₹178 crore overall at the upper price band.
Written by urgent.news from Free Press Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Vishal Nirmiti IPO to open on Sep 30; price band fixed at ₹208-220 thehindubusinessline.com
- Vishal Nirmiti IPO to open on Sep 30; price band fixed at Rs 208-220 economictimes.indiatimes.com
