From The Economic Times · Kumar Gaurav · · 1m 40s
Vishal Nirmiti IPO Day 3: Subscription 1.71x, GMP at 9%
Vishal Nirmiti IPO subscription reaches 1.71x with 9% grey market premium.
In brief
Vishal Nirmiti IPO subscription reaches 1.71x with 9% grey market premium. Vishal Nirmiti IPO subscription at 1.71 times with 9.09% grey market premium over price band. Originally reported by The Economic Times.
IPO subscription window closes
The three-day subscription window for Vishal Nirmiti's initial public offering closed on Monday with 1.71 times subscription by the end of day three.
Subscription details
Retail investors subscribed 1.67 times against 59.29 lakh shares, while non-institutional investors subscribed 1.81 times against 24.56 lakh shares.
Grey market premium
The IPO commands a 9.09% premium over the upper price band of Rs 220, indicating expectations of a premium listing.
Price band and listing
The IPO price band is Rs 208-220 per share with a lot size of 68 shares, expected to list on October 8 after allotment finalization on October 6.
Analyst view
Anand Rathi rates the IPO as 'Subscribe - Long Term' with a post-issue market capitalisation of approximately Rs 5,806 million.
Use of proceeds
Rs 75 crore will fund working capital, Rs 19 crore repay term loans, and the remainder for general corporate purposes.
Company background
Vishal Nirmiti manufactures railway pre-stressed concrete sleepers and MS pipes for pumped storage projects.
Financial performance
The company reported a 6% increase in total income to Rs 344 crore and profit after tax to Rs 25 crore in FY26.
Listing timeline
Allotment finalization expected on October 6 with tentative listing on October 8 after the IPO closes.
Market reaction
The IPO is fully priced with a 9.09% grey market premium, suggesting strong investor confidence.
The key point
Vishal Nirmiti IPO subscription at 1.71 times with 9.09% grey market premium over price band.
