MP Steel IPO: Rs 95 Crore Fresh Issue Filed with SEBI

MP Steel Limited, a stainless-steel products manufacturer, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering.

The IPO includes a fresh issue of equity shares worth up to Rs 95 crore, alongside an Offer For Sale (OFS) of up to 23,07,290 equity shares by its promoters.

Key Financials & IPO Structure

• Fresh Issue: Up to Rs 95 crore
• Offer For Sale: Up to 23,07,290 equity shares
• FY26 Revenue: Rs 413.41 crore
• FY26 Profit After Tax: Rs 15.81 crore

Proceeds from the fresh issue are earmarked for establishing a new billet manufacturing facility, partially funding incremental working capital needs, and addressing general corporate requirements.

Operations & Market Reach

MP Steel specializes in black and bright bars, forging ingots, channels, and fasteners, primarily operating within the business-to-business (B2B) sector.

The company supplies products to traders and manufacturers serving diverse industries such as defence, pharmaceuticals, infrastructure, automotive, hardware, shipbuilding, ports, power plants, and refineries.

• Manufacturing Facility: Mehsana, Gujarat
• Facility Size: Approximately 80,374 square meters
• Unutilized Area: Approximately 32,492 square meters
• Ingot Capacity (March 31, 2026): 19,151 MTPA
• Rolling Capacity (March 31, 2026): 63,030 MTPA
• Bright Bar Capacity (March 31, 2026): 27,500 MTPA

MP Steel maintains a presence across 16 states and three Union Territories in India and exports to 21 countries, with key markets including the UAE, Germany, Turkey, Egypt, Brazil, and Poland.

IPO Advisory Team

Monarch Networth Capital Limited has been appointed as the sole Book Running Lead Manager for the IPO. KFin Technologies Limited will serve as the Registrar to the Offer.