Vishal Nirmiti IPO Subscription Day 2: 0.60x

Mumbai, October 1: Vishal Nirmiti IPO was subscribed 0.60 times on the second day of bidding on Thursday, October 1, 2026. The public issue received bids for 48,40,580 shares against 80,90,909 shares offered, according to subscription data as of 5:03:22 PM.

The QIB (Ex Anchor) portion was fully subscribed, with bids for 80,920 shares against 80,909 shares offered

The NII category was subscribed 0.84 times, receiving bids for 19,75,196 shares against 23,46,364 shares offered. Within the NII segment, the bNII portion was subscribed 1.10 times, while the sNII portion was subscribed 0.32 times.

The retail portion was subscribed 0.49 times, with bids for 27,84,464 shares against 56,63,636 shares offered.

The IPO opened for subscription on September 30 and will close on October 5, 2026.

Vishal Nirmiti IPO Subscription Status Day 2

Category	Subscription (x)	Shares Offered	Shares Bid For	Total Amount (₹ Cr.)
QIB (Ex Anchor)	1.00x	80,909	80,920	1.780
NII	0.84x	23,46,364	19,75,196	43.454
bNII (> ₹10L)	1.10x	15,63,973	17,23,120	37.909
sNII (< ₹10L)	0.32x	7,82,391	2,52,076	5.546
Retail	0.49x	56,63,636	27,84,464	61.258
Total	0.60x	80,90,909	48,40,580	106.493

The issue had received a total of 35,708 applications as of the Day 2 update.

Vishal Nirmiti IPO Day-Wise Subscription Trend

Date	QIB (Ex Anchor)	NII	NII (> ₹10L)	NII (< ₹10L)	Retail	Total
Sep 30 (Day 1)	1.00x	0.01x	0.00x	0.00x	0.06x	0.06x
Oct 1 (Day 2)	1.00x	0.84x	1.10x	0.32x	0.49x	0.60x

Vishal Nirmiti IPO Details

Vishal Nirmiti IPO is a book-built issue of ₹178.00 crore. The issue comprises a fresh issue of 65.91 lakh shares aggregating to ₹145.00 crore and an offer for sale of 15.00 lakh shares aggregating to ₹33.00 crore.

The IPO has a price band of ₹208 to ₹220 per share, with a lot size of 68 shares. The minimum investment required by a retail investor is ₹14,960 for one lot of 68 shares at the upper end of the price band.

The issue is scheduled to close on October 5, 2026. The shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of October 8, 2026.

Saffron Capital Advisors Pvt. Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

Vishal Nirmiti IPO Issue Size

Particulars	Details
Total Issue Size	80,90,909 shares
Fresh Issue	65,90,909 shares
Offer for Sale	15,00,000 shares
Fresh Issue Size	₹145 crore
Offer for Sale Size	₹33 crore
Face Value	₹10 per share
Price Band	₹208 to ₹220
Lot Size	68 shares
Issue Type	Bookbuilding IPO
Sale Type	Fresh capital cum OFS
Listing	BSE, NSE

Vishal Nirmiti IPO Lot Size

Investors can bid for a minimum of 68 shares and in multiples thereof.

Application	Lots	Shares	Amount
Retail (Min)	1	68	₹14,960
Retail (Max)	13	884	₹1,94,480
S-HNI (Min)	14	952	₹2,09,440
S-HNI (Max)	66	4,488	₹9,87,360
B-HNI (Min)	67	4,556	₹10,02,320

Vishal Nirmiti IPO Allotment and Listing Date

The tentative IPO allotment is scheduled for October 6, 2026. Refunds are expected on October 7, while shares are likely to be credited on the same day.

Vishal Nirmiti shares are scheduled to list on the BSE and NSE on October 8, 2026.

Event	Date
IPO Open	September 30, 2026
IPO Close	October 5, 2026
Allotment	October 6, 2026
Refund	October 7, 2026
Credit of Shares	October 7, 2026
Listing	October 8, 2026

About Vishal Nirmiti Ltd.

Incorporated in 1994, Vishal Nirmiti Limited, formerly Sejal Farms Private Limited, is a civil engineering, manufacturing and construction company primarily engaged in manufacturing and dealing in Pre-Stressed Concrete (PSC) sleepers for railways, pre-cast and pre-stressed concrete products, as well as fabrication and erection of Mild Steel (MS) pipes, liners and penstock pipes for Pumped Storage Projects (PSPs).

Conclusion

Vishal Nirmiti IPO was subscribed 0.60 times on Day 2. The QIB portion reached 1.00x, while the NII category stood at 0.84x and the retail portion at 0.49x.

The Vishal Nirmiti IPO remains open for subscription and will close on October 5, 2026.

Source:

 

• https://www.nseindia.com/market-data/issue-information?symbol=VNL&series=EQ&type=Active