Vishal Nirmiti has received Securities and Exchange Board of India approval for its initial public offering, including a mix of a fresh issue and an offer for sale. The company plans to use IPO proceeds to strengthen working capital, reduce debt, and fund growth across its railway and EPC infrastructure segments.
Safety Controls and Devices’ Rs 48 crore IPO has opened for bidding with a flat grey market premium, hinting at cautious investor sentiment. The EPC company, focused on substations and solar projects, plans to use proceeds for working capital and debt repayment. While anchor interest and government-linked projects provide comfort, execution risk and SME liquidity remain key watchouts.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
