Madhur Iron & Steel (India)

Madhur Iron & Steel Limited (NEW IPO): GMP, Price, Review, Profit

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Madhur Iron & Steel (India) Limited is a Bhilai-based structural steel products manufacturer and trader, producing a range of items such as mild steel sections, channels, angles, flats and rods, primarily on a business-to-business (B2B) order fulfilment model and supplying institutional customers across sectors like railways, power transmission, construction and engineering.

It primarily manufactures and trades structural steel products such as angles, channels, mild steel (MS) sections, flats and rods on a B2B, order-based model serving infrastructure, power, railway, telecom and engineering sectors.


Madhur Iron & Steel (India) Limited was incorporated in 2012 & currently Mr. Jayant Agrawal serves as the Managing Director of the company.

Madhur Iron & Steel (India) Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI to launch the proposed IPO of 10,000,000 Equity Shares, comprising entirely as a Fresh Issue of up to 10,000,000 Equity Shares and no Offer for Sale (OFS).

Subscription date to apply for Madhur Iron & Steel (India) Limited is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:10,000,000 Equity Shares
Fresh Issue:10,000,000 Equity Shares
Offer for Sale:Nil
Price Range:TBA
Lot Size:TBA
GMPPending

Madhur Iron & Steel (India) Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹
93.99 Cr
Revenue:₹ 339.56 Cr
EBITDA₹ 35.11 Cr
PAT₹ 18.12 Cr
EBITDA Margin:~10.34%
PAT Margin~5.32%
Face Value:₹ 10

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Borrowing Repayments/Pre-Payments~ ₹ 11.89 Cr
Financing capital expenditure~ ₹ 75.80 Cr
Working capital requirements~ ₹ 35.30 Cr
General Corporate PurposeBalance

Madhur Iron & Steel (India) Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 192.8₹ 239.3₹ 339.6
PAT (₹ Cr)₹ 6.5₹ 12.6₹ 18.1
Asset (₹ Cr)₹ 80.1₹ 127.6₹ 236.3
Net Worth (₹ Cr)₹ 19.4₹ 42.8₹ 94.0

Madhur Iron & Steel (India) IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
26-Mar₹ –₹ –₹ –
25-Mar₹ –₹ –₹ –
23-Mar₹ –₹ –₹ –
23-Mar₹ –₹ –₹ –
22-Mar₹ –₹ –₹ –
Madhur Iron & Steel (India)

Madhur Iron & Steel (India) Limited IPO Pros & Cons

Strengths:

  • Strong demand outlook driven by India’s infrastructure and construction growth.
  • Established B2B customer base across railways, power and engineering sectors.
  • Strategic location near Bhilai steel hub ensures raw material accessibility.
  • IPO proceeds aimed at debt reduction and working capital support.
  • Diversified structural steel product portfolio catering to multiple industries.

Risks:

  • Business exposed to cyclical nature of the steel industry.
  • Vulnerable to raw material price fluctuations affecting margins.
  • Intense competition in structural steel manufacturing and trading.
  • Revenue largely dependent on infrastructure and government spending.
  • Limited visibility on sustainable long-term profitability post listing.

Madhur Iron & Steel (India) Ltd Promoters – Pre offer equity (Approx)

Promoters%Shares
Jayant Agrawal~ 73.89 %
Umang Agrawal~ 2.55 %
Virendra Kumar Agrawal~ 1.61 %
Sangeeta Agarwal~ 0.27 %
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Madhur Iron & Steel (India) Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Madhur Iron & Steel (India) Limited

Lead / Book Running Lead ManagersShare India Capital Services Private Limited
Registrar (RTA)Bigshare Services Private Limited

Madhur Iron & Steel (India) Limited FAQ

  • It is a structural steel products manufacturer and trader supplying angles, channels, flats and rods to infrastructure, power, railways and engineering sectors.
  • Madhur Iron & Steel is raising funds via IPO to fund working capital, repay debt, and finance capital expenditure including a new plant to expand manufacturing capacity.
  • The issue size of the IPO is entirely a Fresh Issue of 1 Cr equity shares. It will be listed on BSE and NSE platform.
  • Key risks include industry cyclicity, geographic revenue concentration, execution risk on expansion and steel price volatility could impact earnings.
  • Upsides include growing infrastructure demand, capacity expansion plans and improved profitability trends could drive future growth.
  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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