Vishal Nirmiti Receives SEBI Approval for Initial Public Offering (IPO)

Vishal Nirmiti Receives SEBI Approval for IPO Plans

Pune-based Vishal Nirmiti, a manufacturer of pre-stressed concrete (PSC) sleepers for railways, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its IPO plans. This approval was issued on April 9, following the company's draft papers filed in September 2025.

The issuance of observations by SEBI means that Vishal Nirmiti can launch its initial public offering (IPO) for subscription within the next one year. The company plans to raise Rs 125 crore by issuing fresh shares, while promoter entity Vaman Prestressing Company intends to sell up to 15 lakh shares via an offer-for-sale.

Vishal Nirmiti is a civil engineering, manufacturing, and construction company involved in the production of precast and pre-stressed concrete products for various applications, as well as the fabrication and erection of mild steel pipes (MS pipes), MS liners, and penstock pipes for pumped storage projects (PSPs). The company had a consolidated order book of Rs 504.1 crore as of August 2025.

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The company plans to utilize the proceeds from the fresh issue for its working capital requirements, debt repayment, and general corporate purposes. Saffron Capital Advisors has been appointed as the book-running lead manager for managing the Vishal Nirmiti IPO.