New Delhi, April 10 Vishal Nirmiti Ltd, a civil engineering, manufacturing, and construction firm, has received approval from Sebi to raise funds through an initial public offering (IPO), according to an update with the markets regulator on Friday.
The proposed IPO involves the issuance of up to Rs 125 crore in new equity shares, along with an offer for sale (OFS) of 15 lakh equity shares by the promoter, according to the draft documents.
The Pune-based company, which filed preliminary IPO papers with Sebi in December, received its observations on April 9. In regulatory terms, Sebi's observation is equivalent to clearance for launching a public issue.
According to the draft documents, the proceeds from the IPO are proposed to be used for funding working capital requirements, repaying loans, and for general corporate purposes.
In terms of finances, 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.