Madhur Iron & Steel India IPO

About Madhur Iron and Steel (India) IPO

Madhur Iron and Steel (India) IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the Demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The IPO of Madhur Iron and Steel (India) comprise a fresh issue aggregating up to 1,00,00,000 equity shares. There is no offer for sale in this IPO. The lot size of shares in the IPO is TBA and the price band of shares is TBA per share.

The minimum investment amount required by a retail investor is TBA based on the upper price. The minimum lot for retail investors is TBA.

Madhur Iron and Steel (India) is engaged in the manufacturing and trading of a wide range of structural steel products. Its products cater to diverse end-use industries, such as railway electrification, state electricity boards, power and energy infrastructure, telecom tower manufacturing, automotive and ancillary units, offshore structure fabrication, construction and real estate, general engineering, auto body manufacturing, and other related industries.

Objectives of Madhur Iron and Steel (India) IPO

The company proposes to utilise the IPO proceeds for:

• Repayment/ prepayment, in full or in part, of certain borrowings and accrued interest thereon availed by the company
• Financing the capital expenditure requirements for setting up of its proposed unit II
• Funding working capital requirements
• General corporate purposes

Industry Outlook

As of FY25, India had installed a steel production capacity of 196.6 million tonnes (MT). The country ranks as the second-largest consumer of finished steel, with consumption reaching 152 MT in FY25. This growth stems from the domestic availability of key raw materials such as iron ore, cost-effective labour, and strong demand from sectors like construction, consumer durables, capital goods, railways, real estate, and automobiles.

Finished steel consumption also surged, growing at a CAGR of 8.7% to reach 152 MT in FY25 from 100 MT in FY20. In FY25 alone, consumption rose by 11.5% year-on-year, driven primarily by a surge in infrastructure investment ahead of the general elections.

About Madhur Iron and Steel (India)

Madhur Iron and Steel (India) is engaged in the manufacturing and trading of a wide range of structural steel products. The company primarily operates under a business-to-business (B2B), order-based model, supplying products to institutional customers.

Its products cater to diverse end-use industries, such as railway electrification, state electricity boards, power and energy infrastructure, telecom tower manufacturing, automotive and ancillary units, offshore structure fabrication, construction and real estate, general engineering, auto body manufacturing, and other related industries.

Strengths of Madhur Iron and Steel (India)

• Established track record of sound financial performance
• Focused expertise in structural steel products manufacturing
• Strong quality systems aligned with Indian and global standards
• Strategic location of manufacturing facilities
• Well-positioned to take advantage of the growing demand
• Management team brings relevant experience and expertise in the steel industry

Risks of Madhur Iron and Steel (India)

• Exposed to geographic concentration risks that may adversely affect operations, financial condition, and results of operations
• Loss of revenue from any customers could have a material adverse effect on business
• Loss of suppliers or interruptions in the timely delivery of supplies and services could have an adverse impact on business
• Inability of the vendors to provide the plant and machineries or complete the civil and related works etc., in a timely manner, or at all, the same may result in time and cost over-runs
• Any failure by the company or suppliers to comply with applicable standards may result in cancellation of existing and future orders
• Sustained or significant negative cash flows may adversely affect business, financial condition and growth prospects

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Bigshare Services
• Book Running Lead Manager: Share India Capital Services

Madhur Iron and Steel (India) Business Model

Madhur Iron and Steel (India) is engaged in the manufacturing of re-rolled structural steel products, including angles, channels and other similar products. After manufacturing, these structural steel products are either sold directly to customers or, depending on customer specifications, further processed through fabrication to convert them into finished, application ready products.

Madhur Iron and Steel (India) Growth Trajectory

The revenue from operations of Madhur Iron and Steel (India) grew from ₹192.8496 crores in FY 23 to ₹339.5636 crores in FY 25. The company’s EBITDA margin increased from 7.19% in FY 23 to 10.34% in FY 25, while PAT margin increased from 3.38% in FY 23 to 5.34% in FY 25. Strong quality systems and focused expertise in structural steel products have helped the company grow over the years.

Madhur Iron and Steel (India) Market Position

Madhur Iron and Steel (India) has over 13 years of experience. The company has customers across India including Jammu & Kashmir, Haryana, Punjab, Rajasthan, Uttar Pradesh, Jharkhand, West Bengal, Tamil Nadu, Madhya Pradesh, Gujarat, etc.

How to Apply for Madhur Iron and Steel (India) IPO?

To apply for this IPO:

• Log in to your Kotak Neo Demat account: Log in to your Kotak Neo 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.