Vishal Nirmiti Limited, an integrated civil engineering, manufacturing and construction company headquartered in Pune, has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for a proposed initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares of face value ₹10 each aggregating up to ₹125 crore, along with an offer for sale of up to 15,00,000 equity shares by Vaman Prestressing Company, the promoter group selling shareholder. The company had initially filed its DRHP with SEBI in September 2025.
According to the DRHP, the net proceeds from the IPO are proposed to be utilised towards funding working capital requirements, repayment in part or full of term loans availed, and general corporate purposes.
Incorporated in 1994 and led by its Chairman Brij B Tapadiya along with a professional management team, the company is primarily engaged in the manufacturing of pre-stressed concrete (PSC) sleepers for railways, precast and prestressed concrete products, and the fabrication and erection of mild steel pipes and penstock pipes for pumped storage projects. The company also provides engineering, procurement and construction (EPC) services for railway infrastructure, irrigation and infrastructure development projects.
