Financial Performance
Amounts in ₹ crore; EPS in ₹ per share. PAT is total profit for the period, including non-controlling interests. Standalone statements.
Source temporarily unavailable for this period and basis.
Original IPO guide & application dates
01 · UNDERSTAND THE BUSINESS
The company in 60 seconds
Vishal Nirmiti is a civil engineering, construction, and manufacturing firm operating in 2 segments. Its manufacturing arm produces pre-stressed concrete sleepers, pre-cast barriers, and steel/penstock pipes for Indian Railways and private developers. Its services arm delivers EPC solutions for railway, irrigation, and road infrastructure. The company supports regional projects through specialized manufacturing facilities across Maharashtra, Madhya Pradesh, Gujarat, and Himachal Pradesh. <span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span>
What supports the business
- Diversified across railway sleepers, steel pipes, and EPC works.
- Advanced in-house pipe welding and coating manufacturing plants.
- Over 95% of operational revenue generated from repeat clients.
- Multi-state manufacturing footprint spanning four Indian states.
- Experienced promoter group with deep infrastructure expertise.
What could go wrong
- High revenue dependence on Indian Railways and state tenders.
- Top 5 clients account for over 85% of total operating revenue.
- Substantial working capital needs funded by short-term loans.
- Business relies on purchase orders without long-term contracts.
- Indebtedness exposes the business to debt servicing and covenants.
Where will the IPO money go?
Use of proceeds is awaiting review.
Fresh issue proceeds go to the company. Offer-for-sale proceeds go to the selling shareholders.
Provider content · IPOALERTS · Not independently reviewed · Retrieved 3 Oct 2026, 11:00 pm IST · Data source ↗
A research starting point, not an apply/avoid recommendation.
02 · PREPARE YOUR APPLICATION
How much will be blocked?
Category rules pending · Mainboard
Applications are closed. This is a reference calculation.
Application rules are awaiting review. Check the issue prospectus or your broker.
Before you finish applying 0/5
Your personal checklist for this visit. MeraIPO cannot verify or submit an application.
All checked? This still does not guarantee allotment. If a UPI mandate is missing, contact the broker or intermediary you used. ASBA through a bank may not use UPI.
Application help from NSE ↗03 · KEEP TRACK
Dates that matter
Tentative · check for changes- Applications open30 Sept 2026
- Applications close5 Oct 2026
- Accept UPI mandate byTo be announced
- Allotment expectedTo be announced
- Unblocking startsTo be announced
- Expected listing8 Oct 2026
All times are IST. Your broker may stop accepting bids earlier. Unblocking is an initiation date; bank processing times can differ.
Add dates to calendar ↓Import these dates into your calendar. Saved dates will not update automatically if the schedule changes.
Full provider schedule
- Issue open date: 30 Sept 2026
- Issue close date: 5 Oct 2026
- UPI mandate deadline: 5 Oct 2026
- Allotment finalization: 6 Oct 2026
- Refund initiation: 7 Oct 2026
- Share credit: 7 Oct 2026
- Listing date: 8 Oct 2026
- Mandate end date: 20 Oct 2026
- Lock-in end date for anchor investors (50%): 4 Nov 2026
- Lock-in end date for anchor investors (remaining): 3 Jan 2027
Dates supplied by IPOALERTS; no deadline time was provided. Check the issue source.
Did you get shares?
The official registrar link is awaiting verification.
UPI mandate missing?
Check your UPI app and application status with the broker or bank you used. Contact that intermediary before the applicable deadline. Submitting a bid alone does not confirm that funds were blocked.
NSE application guidance ↗Financial history & source documents
BUSINESS VS PRICE
Insufficient Data / Price corrected
Two comparable YoY results and EBITDA margins are required.
The quarterly journey
₹ Cr except EPS and ratios| Financial metric | IPO baseline |
|---|---|
| Revenue | — |
| Revenue YoY | — |
| Revenue QoQ | — |
| EBITDA | — |
| EBITDA YoY | — |
| EBITDA QoQ | — |
| EBITDA margin | — |
| Margin change QoQ (bps) | — |
| Margin change YoY (bps) | — |
| PAT | — |
| PAT YoY | — |
| PAT QoQ | — |
| EPS (₹) | — |
| Operating cash flow | — |
| Debt | — |
| ROE | — |
| ROCE | — |
Quarterly results are not available yet. The original IPO baseline is retained separately.
“—” means unavailable, not zero. Year-on-year growth requires a positive comparable period. Cash flow is shown only when reported for that period.
Annual financial history · latest four years
Separate from the original pre-IPO baseline. Amounts in ₹ crore; EPS in ₹.
No annual filings have been imported yet.
Stock journey
- Listing price
- —
- Since listing
- —
- All-time high
- ₹194.04
- 52-week high / low
- ₹194.04 / ₹135.54
- 1M return
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- 3M return
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- 6M return
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- 1Y return
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Valuation snapshot
Data unavailable
- IPO P/E
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- Current P/E
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- Peer median P/E
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- Market cap (₹ Cr)
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- EV / EBITDA
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Sources & further research
Filing sources & update times
Source and verification record
Rhp url ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Exchange url ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Issue size ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Lot size ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Price high ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Price low ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Listing date ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Close date ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Open date ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Status ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Exchange ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Board ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Sector ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Name ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Slug ↗ · Unverified · 3 Oct 2026, 11:01 pm IST
Rhp url ↗ · Unverified · 3 Oct 2026, 12:08 pm IST
Exchange url ↗ · Unverified · 3 Oct 2026, 12:08 pm IST
Issue size ↗ · Unverified · 3 Oct 2026, 12:08 pm IST
Lot size ↗ · Unverified · 3 Oct 2026, 12:08 pm IST
Price high ↗ · Unverified · 3 Oct 2026, 12:08 pm IST