Upcoming IPO: Vishal Nirmiti Files Draft Papers to Raise Funds

Vishal Nirmiti has moved closer to the capital markets after submitting draft documents for its initial public offering (IPO), aiming to raise funds to support business operations and reduce debt. 

IPO Structure and Use of Funds 

According to the draft red herring prospectus filed on December 30, the IPO will consist of a fresh issue of shares worth ₹125 crore along with an offer for sale of 15 lakh shares by promoter Vaman Prestressing Company.  

From the fresh issue proceeds, the company plans to allocate ₹65 crore towards working capital requirements and ₹20 crore for repayment of certain borrowings, with the remaining amount earmarked for general corporate purposes and for the proposed public issue, Saffron Capital Advisors has been appointed as the merchant banker. 

Business Profile and Revenue Mix 

Vishal Nirmiti is engaged in manufacturing pre-stressed concrete sleepers for the railways, which contribute 66% of its total revenue. The company also produces pre-cast and pre-stressed concrete products for multiple applications and undertakes fabrication and erection of mild steel pipes for pumped storage projects.  

In addition, Vishal Nirmiti provides engineering, procurement, infrastructure and construction services for railway infrastructure as well as civil engineering, irrigation, and broader infrastructure development projects. 

Financial Performance 

Incorporated in 1994, Vishal Nirmiti reported a profit of ₹23.6 crore for the year ended March 2025, a sharp increase from ₹3.4 crore in the previous year. Revenue during the same period rose 31.1% to ₹318.5 crore from ₹242.9 crore.  

For the 6 months ended September 2025, the company posted a profit of ₹8.4 crore on revenue of ₹135.2 crore. 

Read More: Upcoming IPO: Bagmane Prime Office REIT Filed DRHP with SEBI for ₹4,000 Crore IPO! 

Conclusion 

With the filing of draft IPO papers, Vishal Nirmiti is seeking to strengthen its balance sheet and working capital position, as it builds on recent growth in revenue and profitability across its railway and infrastructure-focused businesses. 

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