Vishal Nirmiti IPO GMP today is Rs -5. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
VNL
Vishal Nirmiti IPO GMP & Allotment
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.
- IPO Price Band
- ₹208.00 - ₹220.00
- Lot Size
- 68 Shares
- Bidding Closes
- 05 Oct 2026
- Listing Date
- 08 Oct 2026
Quick Answer & Highlights
Vishal Nirmiti IPO GMP Today & Key Takeaways
Last updated: 08 Oct 2026
Vishal Nirmiti IPO officially listed on 08 Oct 2026 at Rs 215.00, delivering a -2.27% listing gain compared to its issue price of Rs 178.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹-5.
Vishal Nirmiti IPO officially listed on 08 Oct 2026 at ₹215.00, delivering a -2.27% listing gain compared to its issue price of ₹178.00. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹-5.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹-5 | -2.27% vs upper band (08 Oct 2026) |
| Est. Listing Price | ₹215.00 | -2.27% Est. Listing Gain |
| Price Band | ₹208.00 - ₹220.00 | Mainboard IPO |
| Retail Minimum Investment | ₹14,960 | 1 Lot (68 Shares) |
| Bidding Window | 30 Sept 2026 – 05 Oct 2026 | Listed |
| Allotment & Listing Dates | Allotment: 06 Oct 2026 | Listing: 08 Oct 2026 |
Current GMP Status
₹-5
-2.27% vs upper band
Est. Listing Gain
-2.27%
Last Trend
08 Oct 2026
Listing Price
₹215.00
Retail Entry
₹14,960
IPO Details
Complete IPO information
| IPO Open Date | 30 Sept 2026 |
|---|---|
| IPO Close Date | 05 Oct 2026 |
| IPO Price Band | ₹208.00 - ₹220.00 |
| Lot Size | 68 Shares |
| Current GMP | ₹-5 |
| Estimated Listing Gain | -2.27% |
| Issue Size | Approx ₹178 Cr |
| Fresh Issue | Approx ₹145 Cr |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Overall Subscription | 1.71x |
| Minimum Investment | ₹14,960 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 0.85 | 1.07 | 1.27xx |
| NII | 24.57 | 44.46 | 1.81xx |
| Retail | 59.3 | 98.93 | 1.67xx |
| Overall Subscription | 84.71 | 144.47 | 1.71xx |
Day-wise demand
Vishal Nirmiti IPO subscription status day-wise
| Day | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 2 (01 Oct) | 0.96x | 0.01x | 0.06x | 0.05x |
| Day 4 (05 Oct) | 0.96x | 0.8x | 0.47x | 0.57x |
Subscription in times (x) at the end of each bidding day. Today's row updates through the day.
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Vishal Nirmiti is priced at ₹220 per share. With a minimum lot size of 68 shares, a retail investor applying for one lot would need approximately ₹14,960 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Vishal Nirmiti stands at ₹-5, implying an estimated listing gain of around -2.27% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Vishal Nirmiti's IPO was subscribed 1.71x overall, with a category-wise breakdown of Retail 1.67x, QIB 1.27x, NII 1.81x.
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
30 Sept 2026
✓
Bidding Closes
05 Oct 2026
✓
Allotment
06 Oct 2026
✓
Listing
08 Oct 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 30 Sept 2026 | Completed |
| Bidding Closes | 05 Oct 2026 | Completed |
| Allotment | 06 Oct 2026 | Completed |
| Listing | 08 Oct 2026 | Completed |
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 08 Oct 2026 | ₹2.00 | - | 0.91% |
| 07 Oct 2026 | ₹2.00 | - | 0.91% |
| 06 Oct 2026 | ₹2.00 | -₹18.00 | 0.91% |
| 05 Oct 2026 | ₹20.00 | - | 9.09% |
| 03 Oct 2026 | ₹20.00 | - | 9.09% |
| 02 Oct 2026 | ₹20.00 | -₹15.00 | 9.09% |
| 01 Oct 2026 | ₹35.00 | +₹29.00 | 15.91% |
| 30 Sept 2026 | ₹6.00 | +₹4.00 | 2.73% |
| 29 Sept 2026 | ₹2.00 | - | 0.91% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 68 | ₹14,960 |
| Retail Maximum | 13 Lot | 884 | ₹1,94,480 |
| S-HNI Minimum | 14 Lot | 952 | ₹2,09,440 |
| S-HNI Maximum | 66 Lot | 4,488 | ₹9,87,360 |
| B-HNI Minimum | 67 Lot | 4,556 | ₹10,02,320 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
Vishal Nirmiti IPO Reservation
The Vishal Nirmiti IPO reservation is divided among qualified institutional buyers, non-institutional investors and retail investors. The retail category accounts for the largest portion of the issue, followed by the NII category and the QIB category.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| QIB (Ex. Anchor) | 80,909 Shares | 1% |
| NII Shares Offered | 23,46,364 Shares | 29% |
| Retail Shares Offered | 56,63,636 Shares | 70% |
Note: The reservation details are based on the information provided for the Vishal Nirmiti IPO.
Analysis
Vishal Nirmiti IPO Dates
The Vishal Nirmiti IPO is scheduled to open on September 30, 2026, and close on October 5, 2026. The basis of allotment is expected to be finalized on October 6, followed by refunds and demat credit on October 7. The shares are scheduled to be listed on October 8, 2026.
| Particular | Details |
|---|---|
| IPO Open Date | September 30, 2026 |
| IPO Close Date | October 5, 2026 |
| Basis of Allotment | October 6, 2026 |
| Refunds | October 7, 2026 |
| Credit to Demat Account | October 7, 2026 |
| IPO Listing Date | October 8, 2026 |
Note: The above schedule is based on the provided Vishal Nirmiti IPO dates and may be subject to change.
Analysis
Vishal Nirmiti IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 30 Sept 2026 |
| IPO Close Date | 05 Oct 2026 |
| Basis of Allotment | 06 Oct 2026 |
| Refunds | 07 Oct 2026 |
| Credit to Demat Account | 07 Oct 2026 |
| IPO Listing Date | 08 Oct 2026 |
Note: The timeline for Vishal Nirmiti IPO is tentative and subject to change.
Analysis
Vishal Nirmiti IPO Objects of the Issue & Utilisation of Proceeds
The proceeds from the Vishal Nirmiti IPO are proposed to be utilised primarily for meeting the company's working capital requirements and reducing its outstanding term loan obligations. The issue proceeds also include an allocation for general corporate purposes.
| Purpose | Crores |
|---|---|
| Funding Working Capital Requirements | ₹75.00 |
| Repayment and/ or pre-payment, in part or full of term loans | ₹19.00 |
| General Corporate Purpose | ₹- |
Note: The utilisation details above are based on the information provided for the Vishal Nirmiti IPO.
Analysis
Vishal Nirmiti Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Working Capital Requirement | 75 (51.72%) |
| Repayment and/or pre-payment of certain borrowings | 19 (13.10%) |
| General Corporate Purposes | 51 (35.18%) |
Note: Objectives are as specified in the DRHP/RHP documents of Vishal Nirmiti.
Analysis
Vishal Nirmiti IPO Company Financial Report
The Vishal Nirmiti financial report presents the company's revenue, expenses, profit after tax (PAT), and asset position across the reported periods. The company recorded growth in revenue and PAT in 2025 and continued its financial performance in 2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹270.58 | ₹266.65 | ₹3.01 | ₹224.50 |
| 2024 | ₹247.93 | ₹243.35 | ₹3.45 | ₹242.04 |
| 2025 | ₹324.86 | ₹293.72 | ₹23.64 | ₹296.61 |
| 2026 | ₹344.13 | ₹310.35 | ₹24.98 | ₹334.92 |
Note: Amounts are presented in ₹ Crores based on the financial figures provided for Vishal Nirmiti.
Analysis
Vishal Nirmiti Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 270.58 Cr. | 266.65 Cr. | 3.01 Cr. | 224.50 Cr. |
| 2024 | 247.93 Cr. | 243.35 Cr. | 3.45 Cr. | 242.04 Cr. |
| 2025 | 324.86 Cr. | 293.72 Cr. | 23.64 Cr. | 296.61 Cr. |
| 2026 | 344.13 Cr. | 310.35 Cr. | 24.98 Cr. | 334.92 Cr. |
Note: Financial numbers for Vishal Nirmiti are in ₹ Crores unless stated otherwise.
Analysis
Vishal Nirmiti Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 33.67% |
| ROCE | 28.02% |
| EBITDA Margin | 15.10% |
| PAT Margin | 7.37% |
| Debt to Equity Ratio | 1.01 |
| Earning Per Share (EPS) | 12.61 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 33.87% |
| Net Asset Value (NAV) | 43.61 |
Note: Valuation KPIs for Vishal Nirmiti are computed for FY2026.
Analysis
Vishal Nirmiti IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Indian Hume Pipe Company Limited | 26.79 | 13.86 | 281.76 | 9.51 | 1,305.57 |
| GPT Infraprojects Limited | 7.70 | 14.83 | 41.77 | 18.25 | 1,289.92 |
Note: Peer group comparisons for Vishal Nirmiti are sourced from DRHP filings.
Comparison
Compare Vishal Nirmiti IPO with similar IPOs
FAQ
Vishal Nirmiti IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs -5 and an issue price of Rs 220, the estimated listing price for Vishal Nirmiti IPO is Rs 215.00 (approx -2.27% listing gain). Actual listing price is determined by market demand on the listing day.
Vishal Nirmiti IPO price band is Rs 208.00 to Rs 220.00. Check the latest issue price, lot size and GMP together before applying.
Vishal Nirmiti IPO open date is 30 Sept 2026, close date is 05 Oct 2026, and listing date is 08 Oct 2026.
Vishal Nirmiti IPO lot size is 68 shares. The minimum retail investment is Rs 14,960.
Vishal Nirmiti is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Vishal Nirmiti IPO subscription status currently shows Retail 1.67x, QIB 1.27x, NII 1.81x, Overall 1.71x.
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.
Vishal Nirmiti IPO issue size is TBA and the expected allotment date is 06 Oct 2026.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
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