Vinir Engineering Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering. According to reports from The Economic Times, the company has proposed to list its equity shares on both the BSE and NSE. The proposed IPO will comprise an entirely fresh issue of up to 7.1 crore equity shares with a face value of ₹2 each, with no offer-for-sale component. This marks the second time in two years that Vinir Engineering has filed IPO papers with SEBI, following an earlier DRHP filed in January 2025 for an IPO comprising only an OFS component with no fresh issue.
As reported by The Economic Times, the net proceeds from the issue are proposed to be used towards purchasing advanced forging and machining plant and machinery, working capital requirements, funding inorganic growth through unidentified acquisitions and general corporate purposes. ₹149.85 crore has been earmarked for purchasing advanced forging and machining plant and machinery, while ₹35 crore will be utilised to meet working capital requirements. A portion of the proceeds will also be used to fund inorganic growth through unidentified acquisitions and for general corporate purposes. GYR Capital Advisors Private Limited serves as the book-running lead manager for the issue, while KFin Technologies Limited is the registrar.
According to the DRHP filing, the qualified institutional buyers (QIBs) portion will not exceed 50% of the issue, of which up to 60% may be allocated to anchor investors. The non-institutional investors (NIIs) portion will account for not less than 15%, while the retail individual investors' portion will be not less than 35%. The company had 21.26 crore pre-issue equity shares outstanding as of the filing. Under the proposed issue structure, the portion reserved for qualified institutional buyers (QIBs) will not exceed 50 percent of the issue, of which up to 60 percent may be allocated to anchor investors.
As reported by The Economic Times, Vinir Engineering operates as an integrated engineering solutions company engaged in manufacturing specialised, critical and heavy precision-forged and machined components for industries including energy, defence, aerospace, railways, energy turbines, hydraulics, earthmoving and high-end engineering. As of March 31, 2026, the company had an installed forging capacity of 30,000 MTPA and machining capacity of 8,000 MTPA across three manufacturing units in Bengaluru, Hosur and Kalukondapalli. The company serves customers in India and international markets including the US, Mexico, Spain, Malaysia, Canada, the UK and Singapore, manufacturing components weighing 20 kg to 6,000 kg using closed die, open die, ring rolling and radial forging processes.
According to the DRHP filing, the company's business is diversified across sectors including oil and gas, defence and aerospace, railways, nuclear, mining and marine. The contribution of defence and aerospace to revenue from operations increased from 12.03% in FY2024 to 26.59% in FY2026, reflecting the growing importance of these segments. The company is led by promoters Naresh Chandra Gupta, Nitesh Gupta and Ritesh Gupta, representing the first and second generations of the business with more than 106 years of combined experience in engineering and manufacturing.
