Avtar Steel IPO: Rs 585 Crore Plan Filed with SEBI

Avtar Steel Ltd., a manufacturer of stainless-steel long and wire products, has filed preliminary papers with Sebi for an Initial Public Offering (IPO) valued at Rs 585 crore.

The IPO includes a fresh issue of shares alongside an offer for sale of 50 lakh shares by promoter Sumit Jindal. Proceeds from the fresh issue are earmarked for capital expenditure and other corporate needs.

Key Financials & Offer Details

• IPO Size: Rs 585 crore
• Offer for Sale: 50 lakh shares by Sumit Jindal
• Fiscal Year 2026 Customers: 422 unique customers
• Repeat Customer Base: 62.80 percent of total unique customers

Funds will primarily finance a new Specialty Steel Melting Division, focusing on special steels like alloy and carbon steel. The company also plans to expand its existing stainless-steel wire manufacturing capabilities.

Strategic Utilization of Funds

• Establish a new Specialty Steel Melting Division
• Expand stainless-steel wire manufacturing
• Repay existing debt
• Allocate for general corporate purposes

Avtar Steel has over three decades of industry experience, serving sectors such as automobile, oil and gas, defence, and aerospace. The company expanded into international markets starting in 2010.

Stakeholders Involved

• Book-Running Lead Managers: Systematix Corporate Services Ltd and Elara Capital (India) Pvt Ltd
• Registrar: KFin Technologies Ltd

In fiscal year 2026, Avtar Steel served 422 customers, with 265 being repeat clients. Key customers include Bansal Wire Industries Ltd, Goodluck India Ltd, Stellaris Specialities India Ltd, and Ivy Creations UK Ltd.