The Pune-based company, which filed preliminary IPO papers with Sebi in December, obtained its observations on April 9.

Vishal Nirmiti IPO: Pune-Based Railway Infra Firm Gets SEBI Nod To Raise Rs 125 Crore

Civil engineering, manufacturing and construction firm Vishal Nirmiti Ltd has secured Sebi's approval to garner funds through an initial public offering (IPO), an update with the markets regulator showed on Friday.

The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 125 crore, along with an offer for sale (OFS) of 15 lakh equity shares by the promoter, according to the draft papers.

The Pune-based company, which filed preliminary IPO papers with Sebi in December, obtained its observations on April 9. In regulatory terms, Sebi's observation is equivalent to clearance for launching a public issue.

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Going by the draft papers, proceeds from the IPO are proposed to be utilised for funding working capital requirements, repayment of loans and general corporate purposes.

On the financial front, the company's revenue from operations stood at Rs 318.52 crore in FY25, with a profit after tax of Rs 23.64 crore in the same fiscal year.

For the six months ended September 30, 2025, the company reported revenue from operations of Rs 135.24 crore and a profit after tax of Rs 8.41 crore.

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