Vishal Nirmiti IPO opens for subscription today, September 30, giving investors a three-day window to bid. The Rs 178-crore public issue comprises a fresh issue and an offer for sale (OFS). In the grey market, the IPO is currently commanding a premium of Rs 6, or 3%, over the upper end of its price band, indicating limited premium expectations ahead of the listing.
The Vishal Nirmiti IPO is a book-built issue comprising a fresh issue of 65.91 lakh shares aggregating to Rs 145 crore and an offer for sale of 15 lakh shares worth Rs 33 crore. The IPO will close on October 5, while the basis of allotment is expected to be finalised on October 6. The shares are proposed to list on both the NSE and BSE, with October 8 as the tentative listing date.
