Vishal Nirmiti Share Price: Shares List At 2.27% Discount Below IPO Price & Despite Positive GMP

Shares of Vishal Nirmiti made a weak debut on the stock exchanges on Thursday, October 8, listing below the IPO issue price. The stock opened at Rs. 215 on both the NSE and BSE, compared with the issue price of Rs. 220, marking a 2.27% discount.

At the listing price, investors who received shares in the IPO were sitting on a loss of Rs. 5 per share. The stock remained at Rs. 215 around 9:55 AM IST, indicating no major movement from its opening price at that point.

The debut was also weaker than the signal from the grey market. The last available grey market premium (GMP) was around Rs. 2, which had indicated a potential listing price of Rs. 222, or a premium of about 0.91% over the issue price. However, the actual listing came in below both the IPO price and the grey market estimate.

Vishal Nirmiti IPO Details

The Vishal Nirmiti IPO was a Rs.178 crore book-built issue, with a price band of Rs. 208 to Rs. 220 per share. The company fixed the final issue price at the upper end of the price band at Rs. 220 per share.

The IPO comprised a fresh issue of 65.91 lakh shares worth around Rs.145 crore and an offer for sale (OFS) of 15 lakh shares worth Rs. 33 crore. The proceeds from the OFS will go to the selling shareholders, while the fresh issue proceeds will accrue to the company.

The face value of each share is Rs. 10. The IPO lot size was 68 shares, meaning retail investors needed to invest a minimum of Rs. 14,960 at the upper end of the price band.

Following the issue, the company's total number of shares increased from 1,98,00,000 shares to 2,63,90,909 shares.

Vishal Nirmiti IPO Timeline

The Vishal Nirmiti IPO opened for subscription on September 30th, and closed on October 5. The basis of allotment was finalised on October 6, followed by refunds and credit of shares into demat accounts on October 7.

The shares were listed on the NSE and BSE on October 8.

Another important date for investors is the end of the anchor investor lock-in period. The lock-in for 50% of the anchor shares ends on November 4, 2026, while the remaining 50% becomes eligible for release on January 3, 2027.

The end of the first anchor lock-in period could be important for the stock as it may increase the amount of shares available for trading in the market.

Vishal Nirmiti IPO Subscription

The IPO received moderate demand during the subscription period, although the final subscription figures vary across available sources. Some reports have put the overall