Mittal Sections IPO

About Mittal Sections IPO

The IPO of Mittal Sections comprises a fresh issue of 37,00,000 equity shares. There is no offer for sale in this IPO. The total issue size is pegged at ₹52.91 crores. It’s a 100% book-built issue. The price band is ₹136 to ₹143 per share. The IPO opens on October 7, 2025 and closes on October 9, 2025.

The listing date is on or after October 14, 2025 and the allotment date is on or before October 10, 2025. The credit of shares to the Demat account will take place on or before October 13, 2025, while the initiation of refund will take place on or before October 13, 2025.

Mittal Sections 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.

Objectives of Mittal Sections IPO

The company proposes to utilise the IPO proceeds for:

• Capital expenditure towards acquisition of land, construction of factory building and purchase of plant and machineries
  
• Meeting working capital requirements
  
• Full or part repayment and/or prepayment of certain outstanding secured borrowings availed
  
• General corporate purposes
  

Market maker reservation portion is 5% of the issue size.

Industry Outlook

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. 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.

The Indian steel industry is modern, with state-of-the-art steel mills. It has always strived for continuous modernisation of older plants and up-gradation to higher energy efficiency levels. According to a Deloitte report the demand for steel in India is projected to grow significantly over the next decade, with annual growth rates expected to range from 5% to 7.3%.

Company Information

Mittal Sections 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.

Strengths of Mittal Sections

• Well-established manufacturing setup
• Manufacturing plants are strategically located, leading to cost efficiencies and a stable supply chain
• Strong customer base
• In depth understanding of customers’ requirements
• Wide range of product SKUs
• Experienced promoters and management team

Risks of Mittal Sections IPO

• Any adverse development affecting operations in Gujarat could have an adverse impact on business, financial condition and results of operations
  
• Any restrictions in supply or defects in quality of raw materials could cause delays in project construction or implementation
  
• History of negative cash flows from investing and financing activities in the past
  
• Labour-intensive operations and the potential risks of workforce disruptions
  
• Reduction in business from these top five customers or any other major clients could have negative implications for both revenue and profitability
  

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Bigshare Services
• Book Running Lead Managers: Wealth Mine Networks

Business Model

The product portfolio of Mittal Sections includes a diverse range of mild steel flat bars, mild steel round bars, mild steel angles and channels, which cater to a broad spectrum of customers, including industrial clients and end-users. These products are integral to various sectors, such as construction, infrastructure development, manufacturing, automotive, and general engineering.

Mild steel structural and sectional products like flat bars, round bars, angles and channels are essential for fabricating frameworks, reinforcement structures, machinery, and equipment, making them versatile in a range of applications due to their strength, durability, and ease of fabrication.

Company Growth Trajectory

Mittal Sections recorded a growth in its EBITDA margin from 1.96% in FY 23 to 5.69% in FY 25, while its PAT margin grew from 0.33% in FY 23 to 2.64% in FY 25. A well-established manufacturing setup coupled with a strong customer base has helped the company grow over the years.

Market Position

The entire product line of Mittal Sections is marketed under its registered brand name, “MSL-MITTAL,” which stands for quality, durability, and adherence to industry standards. The company is dedicated to producing high-quality steel products that meet rigorous specifications, ensuring clients receive dependable and durable materials for their projects.

The company currently operates through two manufacturing plants which are located at Changodar in Ahmedabad, Gujarat. As of May 31, 2025, the aggregate installed capacity of its manufacturing plants were 36,000 metric tonnes per annum (MTPA).

How to Check Allotment Status of Mittal Sections IPO?

1. Visit the Registrar’s Website

• Visit the official website of Bigshare Services
  
• Choose IPO Allotment Status from ‘Services’
  
• Click on any one of the servers
  
• Choose ‘Company Name’ from dropdown
  
• Enter either your application number, CAF number or beneficiary ID
  

2. Check on the BSE Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
  
• Choose 'Mittal Sections' in the next dropdown
  
• Enter your application number
  
• Enter your PAN
  
• Click 'Search’ to know allotment status
  

How to Apply for the Mittal Sections IPO?

To apply for this IPO:

• Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Specify IPO details: Enter the number of lots and the price you wish to apply for.
  
• Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Mandate Notification: Your UPI app will receive a mandate notification to block funds.
  
• Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.