Vishal Nirmiti Limited has raised ₹178 crore from an initial public offering of equity shares, comprising a fresh issue of equity shares aggregating to ₹145 crore and an offer for sale by Promoter Selling Shareholder for ₹33 crore.
ALMT Legal, Bangalore advised and acted as the sole legal counsel for Vishal Nirmiti on this IPO. Saffron Capital Advisors Private Limited acted as Book Running Lead Manager
The transaction team was led by Rajat Bopaiah (Senior Partner), Souvik Paul Mazumdar (Senior Partner) and consisted of Natasha Ponnappa (Principal Associate), Associates Nikhil Krishna, Gunjan S. Jain, Danika A. Joplin, Devavrathan S and Nehal Pratap..
Vishal Nirmiti is a civil engineering, manufacturing and construction company, primarily engaged in the business of manufacturing and dealing of Pre-Stressed Concrete (PSC) sleepers for railways, pre cast and prestressed concrete products for various applications and are also into fabrication and erection of Mild Steel Pipes (MS Pipes), MS Liner, and Penstock Pipes for Pumped Storage Project (PSP).
The IPO was subscribed over 1.71 times.
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