Railway infrastructure company Vishal Nirmiti gets Sebi nod for IPO

Akash Podishetti

, ETMarkets.comLast updated: April 10, 2026 at 8:06:00 PM IST

Synopsis

Vishal Nirmiti has obtained approval from the Securities and Exchange Board of India for its IPO, comprising a fresh issue and an offer for sale, with products aimed at working capital, debt reduction and supporting growth in the railway infrastructure and EPC segments.

ETMarkets.comVishal Nirmiti plans to raise funds through an IPO after approval from the Securities and Exchange Board of India, targeting expansion, debt reduction and operational growth of infrastructure projects.Railway infrastructure company Vishal Nirmiti has received approval from capital markets regulator Sebi to launch its IPO, paving the way for the civil engineering and infrastructure player to access the primary market. The IPO includes a fresh issue of Rs 125 crore along with an offer for sale of up to 0.15 crore shares by existing shareholders. The shares are proposed to be listed on both the BSE and the NSE.

Proceeds from the new issue are expected to be used primarily to finance working capital requirements and reduce debt, with Rs 65 crore earmarked for working capital and Rs 20 crore for loan repayment.

Incorporated in 1994, Vishal Nirmiti operates in the manufacturing and EPC segments, with a strong focus on railway infrastructure.

The company manufactures pre-stressed concrete sleepers for railways and undertakes the manufacture of mild steel pipes and associated components for irrigation and hydropower projects. It also executes EPC contracts in the railway, renewable energy and industrial infrastructure sectors.

The company has a pan-India presence with operational facilities in several states and is led by a group of promoters with over four decades of industry experience.

Its business model covers both the manufacturing of infrastructure components and the execution of large-scale projects, thereby providing diversification of revenue sources.

Financially, the company recorded strong growth, with revenue up 31% and profit after tax up significantly over the last financial year, indicating improvement in operating leverage and execution momentum.

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