Mittal Sections Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹143
Per ShareLot Size
1000 Shares
Minimum Investment
₹1,43,000
Issue Size
₹52.91 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
47.37%
QIB Quota
5.26%
NII Quota
47.37%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Mittal Sections Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.92%
Promoter Holding (Post-Issue)
67.96%
Issue Type
Book Building - SME
ISIN
INE833Q01012
About the Company
Our company is a leading manufacturer of an extensive range of Mild Steel sections and structural steel products, including MS Flat Bars, MS Round Bars, MS Angles, and Channels. These products are produced in compliance with various BIS standards, primarily IS 2062: 2011, ensuring consistent quality and high performance across all applications.
Industry Overview
India is the world's second-largest producer of crude steel, with an output of 125.32 MT of crude steel and finished steel production of 121.29 MT in FY23. India's domestic steel demand is estimated to grow by 9-10% in FY25 as per ICRA. India's steel production is estimated to grow 4-7% to 123-127 MT in FY24. The growth in the Indian steel sector has been driven by the domestic availability of raw materials such as iron ore and cost-effective labour. Consequently, the steel sector has been a major contributor to India's manufacturing output.
Company History
Our Company was originally formed as Partnership Firm under the name and style of "Mittal Steel Industries" on November 01, 2006, bearing Firm Registration No. GUJ/AMS/37135. Subsequently, the constitution of partnership firm was changed on July 29, 2008 for admission of partners. Subsequently, the name of partnership firm was changed from "Mittal Steel Industries" to "Mittal Sections" on August 02, 2008. Subsequently, vide partnership agreement dated March 31, 2009 and pursuant to a resolution passed in the meeting of the partners held on March 31, 2009, "Mittal Sections" was converted from a partnership firm to a joint stock company with name "Mittal Sections Limited" in accordance to Part IX of the Companies Act 1956 and a Certificate of Incorporation dated April 02, 2009, was issued by Registrar of Companies, Gujarat, Dadra and Nagar Haveli. The Corporate Identity Number of our Company is U27109GJ2009PLC056527.
Products & Services
- The company is a leading manufacturer of an extensive range of Mild Steel sections and structural steel products, including MS Flat Bars, MS Round Bars, MS Angles, and Channels.
Growth Strategy
- Expansion of manufacturing facilities.
- Strengthen our customer base by growing existing customer business and acquiring new customers.
- Reduction of operational costs and improving operational efficiencies.
- Strengthen our brand value.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of 37,00,000 equity shares of face value of Rs. 10/- each of Mittal Sections Limited ("M S L" or the "Company" or the "Issuer") for cash at a price of Rs. 143.00/- per equity share including a share premium of Rs. 133/- per equity share (the "Issue Price") aggregating to Rs. 52.91 crores ("the Issue"), of which 1,85,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 143.00/- per equity share including a share premium of Rs. 133.00/- per equity share aggregating to Rs. 2.65 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 35,15,000 equity shares of face value of Rs. 10/- each at a price of Rs. 143.00/-per equity share including a share premium of Rs. 133.00/- per equity share aggregating to Rs. 50.26 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 31.99%, and 30.39 %, respectively, of the post issue paid up equity share capital of the company. Price Band: Rs. 136/- to Rs. 143/- for equity share of face value of Rs. 10 each. The floor price is 13.60 times times the face value and cap price is 14.30 times of the face value of the equity shares. Bids can made for a minimum of 2,000 equity shares and in multiples of 1,000 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Wide Range of Products.
- Strong relationship with customers and suppliers.
- Experienced management team with industry expertise.
- There are outstanding legal mattersinvolving our Company, Promoters and Directors. Any adverse decisions could divert management time and attention and have an adverse effect on our business, prospects, results of operations and financial condition.
- Our revenues are highly dependent on our operations in geographical region of state of Gujarat. Any adverse development affecting our operations in this region could have an adverse impact on our business, financial condition and results of operations.
- Several of our key raw materials and components are sourced from a limited group of third-party suppliers giving rise to supplier concentration risks. Any restrictions in supply or defects in quality could cause delays in project construction or implementation and impair our ability to provide our services to customers at a price that is profitable to us, which could have a material adverse effect on our business, financial condition and results of operations.
- We may continue to derive a material portion of our revenue from our top five customers and our financial dependence on our top five customers poses a potential risk. A reduction in business from these top five customers or any other major clients could have negative implications for both our revenue and profitability.
- Labour-Intensive Operations and the Potential Risks of Workforce Disruptions.