Vishal Nirmiti, the Pune-based manufacturer of pre-stressed concrete sleepers for railways, has approached capital markets by filing draft document with SEBI to raise funds via IPO to fund working capital and loan repayment.
The Initial Public Offering (IPO) is a combination of fresh issuance of shares worth Rs 125 crore, and an offer-for-sale of 15 lakh shares by promoter Vaman Prestressing Company, as per the DRHP filed on December 30.
Apart from pre-stressed concrete sleepers for railways, which contributed 66 percent to its topline, Vishal Nirmiti manufactures pre-cast and pre-stressed concrete products for various applications and also involved into fabrication and erection of mild steel pipes for pumped storage project (PSP).
In addition, it provides engineering, procurement, infrastructure and construction services for railway infrastructure and various civil engineering, irrigation and infrastructure development projects.
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The company proposed to utilise Rs 65 crore of fresh issue proceeds for its working capital requirements, Rs 20 crore for repayment of certain borrowings, and the remainder funds for general corporate purposes.
Incorporated in 1994, Vishal Nirmiti has reported profit of Rs 23.6 crore for the year ended March 2025, growing sharply from Rs 3.4 crore in previous year. Revenue in the same period increased 31.1 percent to Rs 318.5 crore, up from Rs 242.9 crore.
Profit for six months period ended September 2025 stood at Rs 8.4 crore on revenue of Rs 135.2 crore.
Saffron Capital Advisors is appointed as the merchant banker for the Vishal Nirmiti.
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