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Learn about the Madhur Iron & Steel (India) Limited IPO journey, including its DRHP filing, issue structure, business operations, financial performance, and key regulatory milestones.
Madhur Iron & Steel (India) Limited IPO update: Madhur Iron & Steel (India) Limited, a Bhilai-based structural steel products manufacturer, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India for a proposed mainboard initial public offering. The issue is structured as a 100% fresh issue of equity shares aimed at funding capacity expansion, working capital requirements, and repayment of borrowings.
The DRHP provides an overview of the proposed IPO and sets out the company’s financials, governance framework, and business outlook.
Madhur Iron & Steel (India) Limited filed its Draft Red Herring Prospectus with SEBI on January 23, 2026. The DRHP was listed under SEBI’s “Draft Offer Documents filed with SEBI – Public Issues” on February 6, 2026, formally initiating the IPO process.
As per the DRHP, the proposed IPO is expected to comprise the following components:
| Particulars | Details |
|---|---|
Issue Type |
Fresh Issue of Equity Shares (100% fresh issue; no offer for sale) |
Face Value |
₹10 per equity share |
Issue Size |
Up to 1,00,00,000 equity shares (final size to be determined after price discovery) |
Proposed Listing |
National Stock Exchange and Bombay Stock Exchange |
Price Band |
To be announced in RHP |
Company |
Madhur Iron & Steel (India) Limited |
Regulatory Authority |
Securities and Exchange Board of India approval and observations required |
Allocation |
Allocation to investor categories will be in accordance with SEBI ICDR Regulations applicable to book-built issues |
These details reflect indicative disclosures available at the DRHP stage and are subject to change based on SEBI observations and final approvals.
Madhur Iron & Steel (India) Limited, incorporated in 2012, is engaged in the manufacturing and trading of structural steel products under a predominantly B2B, order-based model. The company is headquartered in Bhilai, Chhattisgarh, a key industrial hub known for steel production.
Its product portfolio includes mild steel (MS) sections such as angles, channels, flats, and rods. These products are supplied primarily to institutional and industrial customers operating in infrastructure, construction, power transmission, and railway segments. The company focuses on bulk supply and long-term customer relationships rather than retail sales, aligning its operations with project-driven demand.
A key growth initiative outlined in the DRHP is the proposed expansion through a new manufacturing facility, referred to as Proposed Unit II. This unit is expected to increase manufacturing capacity by approximately 1,20,000 MTPA, positioning the company to benefit from sustained growth in steel consumption driven by infrastructure development in India.
According to the DRHP, the net proceeds from the fresh issue are proposed to be utilised towards the following key objectives:
| Fund Allocation | Amount (₹ crore) | Purpose |
|---|---|---|
Capital Expenditure – Proposed Unit II |
75.8 |
Setting up a new manufacturing facility in Chhattisgarh to expand installed capacity by approximately 1,20,000 MTPA |
Working Capital Requirements |
35.3 |
Funding receivables, inventory, and other operational working capital needs |
Repayment/Prepayment of Borrowings |
11.9 |
Reducing outstanding debt and related finance costs |
General Corporate Purposes |
Balance |
Supporting administrative, operational, and business development requirements |
These stated objectives indicate the company’s intended allocation priorities, based on disclosures in the DRHP.
Madhur Iron & Steel (India) Limited has reported consistent profitability, enabling it to file the IPO under the profitability-based route.
A simplified snapshot of key recent financial metrics based on DRHP-linked summaries is provided below:
| Fiscal Year | Revenue from Operations (₹ Cr) | Net Profit / PAT (₹ Cr) | Notes / Highlights |
|---|---|---|---|
FY2024 |
As per DRHP |
12.50 |
Profitable year supporting Regulation 6(1) eligibility. |
FY2025 |
As per DRHP |
18 |
Continued profit growth from structural steel operations; certain cash-flow related risks are discussed in the DRHP risk factors section |
H1 FY2026 |
As per DRHP |
As per DRHP |
Interim performance disclosed in DRHP. |
*Detailed year-wise financial statements, including audited figures, are available in the DRHP and should be referred to for complete financial information.
The Madhur Iron & Steel (India) Limited IPO timeline currently reflects the DRHP filing and regulatory review stage, with specific issue dates yet to be announced.
| Milestone / Stage | Date (or Status) | Details |
|---|---|---|
DRHP filed with SEBI |
January 23, 2026 |
Madhur Iron & Steel (India) Limited IPO DRHP filed proposing a 100% fresh issue of up to 1 crore equity shares. |
DRHP disclosed on SEBI site |
February 6, 2026 |
Listed under “Draft Offer Documents filed with SEBI – Public Issues”. |
SEBI review and observations |
Ongoing / Awaited |
DRHP under SEBI review; observations to precede RHP filing. |
Filing of Red Herring Prospectus (RHP) |
To be announced |
RHP with final price band, issue size (₹), lot size and schedule to be filed after SEBI observations are addressed. |
IPO Opening Date |
Not yet announced |
Final bidding window to be notified via RHP and stock exchange notices. |
IPO Closing Date |
To be announced |
Will be specified along with the opening date in the final timetable. |
Listing on NSE/BSE (tentative) |
To be announced |
Equity shares proposed to be listed on both NSE and BSE upon completion of allotment and listing formalities. |
Note: Investors may refer to official filings for final IPO dates, pricing details, and listing timelines.
Check other upcoming ipo’s here : Upcoming IPO
This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
Madhur Iron & Steel (India) Limited filed its DRHP with SEBI on January 23, 2026, formally initiating the Madhur Iron & Steel (India) Limited IPO filed with SEBI for a proposed mainboard listing.
The IPO is structured as a 100% fresh issue of up to 1,00,00,000 equity shares of face value ₹10 each, with no offer for sale component. The total issue size in rupee terms will depend on the final price determined in the RHP.
The company manufactures and trades structural steel products such as MS angles, channels, flats, and rods, serving institutional customers in infrastructure, construction, power transmission, and railways under a B2B, order-based model.
The net proceeds are proposed to be used for capital expenditure of about ₹75.80 crore for a new manufacturing unit, working capital requirements of around ₹35.30 crore, repayment or prepayment of borrowings of approximately ₹11.90 crore, and general corporate purposes.
Subject to regulatory approvals and successful completion of the IPO, the equity shares are proposed to be listed on both the NSE and the BSE.
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