Vishal Nirmiti IPO Subscription
ListedUpdated 8 October 2026, 9:15 AM IST· Mainboard
Vishal Nirmiti IPO subscription closed on 5 October 2026 at 1.79x overall by shares. QIB demand came in at 1.33x, NII at 1.89x, and retail at 1.75x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 6 October 2026. Listing date on NSE and BSE is 8 October 2026.
Vishal Nirmiti IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 30 Sept 2026 | 1.00x | 0.01x | 0.06x | 0.06x |
| Day 2 - 1 Oct 2026 | 1.00x | 0.84x | 0.49x | 0.60x |
| Day 3 - 5 Oct 2026 | 1.33x | 1.89x | 1.75x | 1.79x |
Vishal Nirmiti IPO Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
Vishal Nirmiti IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail | 1.48x | 1 in 1 |
| SHNI (Rs 2L to Rs 10L) | 1.97x | 1 in 2 |
| BHNI (above Rs 10L) | 0.20x | Very high |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the Vishal Nirmiti IPO Allotment Status page from 6 October 2026 for your result.
Vishal Nirmiti IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 220.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 1.78 Cr | Rs 2.36 Cr | 1.33x |
| FII | - | Rs 10.02 L | - |
| DFI | - | Rs 2.09 L | - |
| Mutual Funds | - | - | - |
| Other | - | Rs 2.24 Cr | - |
| NII | Rs 51.62 Cr | Rs 97.81 Cr | 1.89x |
| bNII (above Rs 10L) | Rs 34.41 Cr | Rs 61.69 Cr | 1.79x |
| Corporate | - | Rs 45.03 L | - |
| Individual | - | Rs 57.31 Cr | - |
| Other | - | Rs 3.93 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 17.21 Cr | Rs 36.12 Cr | 2.10x |
| Corporate | - | Rs 8.38 L | - |
| Individual | - | Rs 35.32 Cr | - |
| Other | - | Rs 71.06 L | - |
| Retail | Rs 124.60 Cr | Rs 217.66 Cr | 1.75x |
| Cut-off price | - | Rs 197.02 Cr | - |
| Fixed price | - | Rs 20.64 Cr | - |
| Total | Rs 178.00 Cr | Rs 317.83 Cr | 1.79x |
Vishal Nirmiti IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 80,909 | 4 | 0.00x |
| FII | - | - | - |
| DFI | - | 1 | - |
| Mutual Funds | - | - | - |
| Other | - | 3 | - |
| NII | 2,465 | 1,944 | 0.79x |
| bNII (above Rs 10L) | 1,643 | 322 | 0.20x |
| Corporate | - | 5 | - |
| Individual | - | 284 | - |
| Other | - | 33 | - |
| sNII (Rs 2L to Rs 10L) | 822 | 1,622 | 1.97x |
| Corporate | - | 4 | - |
| Individual | - | 1,585 | - |
| Other | - | 33 | - |
| Retail | 83,289 | 1,23,247 | 1.48x |
| Cut-off price | - | 1,11,234 | - |
| Fixed price | - | 12,013 | - |
| Total | 1,66,663 | 1,25,195 | 0.75x |
What Do These Subscription Numbers Mean?
1.79x overall by shares means bids covered about 2 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 1.33x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (0.79x by applications). Split: SHNI 1.97x, BHNI 0.20x by applications. SHNI and BHNI allotment is by lottery.
At 1.48x subscription by applications, about 1 in 1 retail applicants may get allotment (~68% chance per application). Retail allotment is also by lottery.
Vishal Nirmiti IPO GMP After Subscription
GMP for Vishal Nirmiti IPO stands at Rs 2.00 today, giving an estimated listing price of Rs 222.00 per share.
The GMP has been mixed from Rs 2.00 on 28 Sept 2026 to Rs 2.00 on 8 Oct 2026.
A subscription of 1.79x combined with a GMP of 0.91% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the Vishal Nirmiti IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
Vishal Nirmiti IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 30 September 2026 |
| IPO Close Date | 5 October 2026 |
| Allotment Date | 6 October 2026 |
| Refund Initiation | 7 October 2026 |
| Share Credit to Demat | 7 October 2026 |
| Listing Date | 8 October 2026 |
| Minimum Investment | Rs 14,960.00 |
| Lot Size | 68 shares |
About Vishal Nirmiti IPO
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 of 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). The company also provides engineering, procurement, and construction (EPC) services for railway infrastructure, irrigation, and civil engineering projects across sectors such as railways, renewable power, and industrial infrastructure. VNL has a pan-India presence with operational units across Maharashtra, Madhya Pradesh, Gujarat, Himachal Pradesh, Uttar Pradesh, Odisha, and Karnataka.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
Retail - Retail Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
Vishal Nirmiti IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Vishal Nirmiti IPO Details
Issue size, price, financials, and company info
Vishal Nirmiti IPO GMP
Live grey market premium and listing estimate
Vishal Nirmiti IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Vishal Nirmiti IPO Allotment
Allotment date, chances, and check by PAN
Vishal Nirmiti IPO Review
SWOT, strengths, risks, and IPO review
Vishal Nirmiti IPO FAQ
Common questions on dates, GMP, and allotment
Vishal Nirmiti IPO Registrar
Registrar website and how to check allotment
Vishal Nirmiti IPO Timeline
Open, close, allotment, and listing dates
Vishal Nirmiti IPO News
Updates, blogs, and latest IPO news
Vishal Nirmiti IPO Subscription FAQs
What is Vishal Nirmiti IPO subscription status today?
Vishal Nirmiti IPO subscription closed on 5 October 2026 with overall subscription of 1.79x (by shares) as of 10 October 2026, 1:01 AM IST. QIB 1.33x, NII 0.79x, Retail 1.48x.
What is the overall subscription of Vishal Nirmiti IPO?
Vishal Nirmiti IPO is subscribed 1.79x overall by shares at close on 5 October 2026. QIB 1.33x, NII 0.79x, and Retail 1.48x.
What is Vishal Nirmiti IPO QIB subscription?
Vishal Nirmiti IPO QIB (Qualified Institutional Buyers) subscription is 1.33x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Vishal Nirmiti IPO Retail subscription?
Vishal Nirmiti IPO Retail subscription is 1.48x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is Vishal Nirmiti IPO NII, SHNI, and BHNI subscription?
Vishal Nirmiti IPO NII subscription is 0.79x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 1.97x and BHNI (above Rs 10L) at 0.20x.
What are Vishal Nirmiti IPO retail allotment chances?
At 1.48x subscription by applications, about 1 in 1 retail applicants may get allotment (~68% chance per application). Allotment is by lottery.
What are Vishal Nirmiti IPO SHNI allotment chances?
At 1.97x subscription by applications, about 1 in 2 SHNI applicants may get allotment (~51% chance per application). Allotment is by lottery.
What are Vishal Nirmiti IPO BHNI allotment chances?
Vishal Nirmiti IPO BHNI share subscription is 1.79x. Application data is needed for exact lottery chances.
When is Vishal Nirmiti IPO allotment date?
Vishal Nirmiti IPO allotment date is 6 October 2026. Check Vishal Nirmiti IPO Allotment Status on IPOwiz from that day using your PAN.
When does Vishal Nirmiti IPO subscription close?
Vishal Nirmiti IPO subscription closed on 5 October 2026. No new applications are accepted after the close.
What is Vishal Nirmiti IPO GMP today?
Vishal Nirmiti IPO GMP is ₹2 today (+0.91% over issue price ₹220). See live GMP on the Vishal Nirmiti IPO GMP Today page.
What is Vishal Nirmiti IPO issue price and lot size?
Vishal Nirmiti IPO issue price is ₹220 per share. Lot size is 68 shares. Minimum investment is ₹14,960 per lot. Issue size: ₹178.00 Cr.
When is Vishal Nirmiti IPO listing date?
Vishal Nirmiti IPO listing date is 8 October 2026 on NSE and BSE. Allotment is on 6 October 2026.
How does subscription affect Vishal Nirmiti IPO allotment?
In Vishal Nirmiti IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 1.79x overall, competition is moderate.
For allotment results from 6 October 2026, visit the Vishal Nirmiti IPO Allotment Status page. For listing day updates on 8 October 2026, download the IPOwiz App.
Sources
We match Vishal Nirmiti IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.