Incorporated in 2009, Mittal Sections Limited is engaged in the manufacturing of basic iron and steel products.The company is a manufacturer of mild steel sections and structural steel products, including MS flat bars, round bars, angles, and channels, offering a wide range of high-quality solutions.The company markets its products under the brand name “MSL-MITTAL,” known for quality, durability, and industry standards, ensuring reliable steel products that meet strict specifications for client projects.The company operates two manufacturing plants in Changodar, Ahmedabad, Gujarat, with an installed capacity of 36,000 MTPA. Expansion plans aim to increase capacity to 96,000 MTPA.Products:MS Angle: L-shaped mild steel components for strong, stable, and corrosion-resistant load-bearing applications.MS Flats: Rectangular steel for construction, automotive, and engineering, offering durability and easy fabrication.MS Round Bar: Cylindrical steel known for ductility, strength, and easy fabrication in construction and manufacturing.MS Channel: C-shaped steel providing excellent load distribution, structural stability, and easy weldability for heavy use.As of February 28, 2025, the company has 63 permanent employees.Competitve Strengths:Well-established manufacturing setupManufacturing plants are strategically located, leading to cost efficiencies and a stable supply chainStrong Customer BaseIn depth understanding of customers’ requirementsWide range of our product SKUsExperienced Promoters and management team
| Category | Shares Offered* | Total Amt* (₹ Cr.) |
|---|---|---|
|
Anchor
|
185,000 | ₹2.650 |
|
QIB (Ex Anchor)
|
185,000 | ₹2.650 |
|
NII
|
1,665,000 | ₹23.810 |
|
Retail
|
1,665,000 | ₹23.810 |
| Total ** | 3,700,000 | ₹52.910 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min — 2 Lots) | 2 | 2,000 | ₹286,000 |
| Retail (Max — 13 Lots) | 13 | 13,000 | ₹1,859,000 |
| S-HNI (Min — 14 Lots) | 14 | 14,000 | ₹2,002,000 |
| S-HNI (Max — 66 Lots) | 66 | 66,000 | ₹9,438,000 |
| B-HNI (Min — 67 Lots) | 67 | 67,000 | ₹9,581,000 |
| Category | QIB | NII | Retail | Total | ||||
|---|---|---|---|---|---|---|---|---|
| Ex. Anchor | Anchor Investor | Total QIB | Below ₹10L | Above ₹10L | Total NII | |||
| Allocation (No. of shares) | — | — | — | — | — | 1,665,000 | 1,665,000 | 3,330,000 |
| Allotment price (Rs.) | 143 | 143 | 143 | 143 | 143 | 143 | 143 | 143 |
| No. of applications | — | — | — | — | — | — | — | — |
| No. of shares applied | — | — | — | — | — | — | — | — |
| Amount collected (Rs.cr.) | 2.65 | 2.65 | 5.30 | — | — | 23.81 | 23.81 | 52.92 |
| No. of times subscribed | — | — | — | — | — | — | — | — |
| No. of shares allotted | — | — | — | — | — | 1,665,000 | 1,665,000 | 3,330,000 |
| Amount (Rs.cr.) | 2.65 | 2.65 | 5.30 | — | — | 23.81 | 23.81 | 47.62 |
| No. of allottees | — | — | — | — | — | — | — | — |
| Category | Shares Offered | Amt (₹ Cr) | Size (%) |
|---|---|---|---|
| Anchor / Market Maker | 185,000 | ₹2.65 |
5.00%
|
| QIB (Ex Anchor) | 185,000 | ₹2.65 |
5.00%
|
| NII / HNI | 1,665,000 | ₹23.81 |
45.00%
|
| Retail (RII) | 1,665,000 | ₹23.81 |
45.00%
|
| Total | 3,700,000 | ₹52.91 |
100.00%
|
| Particulars | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Revenue from Operations | 68.97 | 161.65 | 167.53 |
| EBITDA | Not Available | Not Available | Not Available |
| Profit After Tax (PAT) | 2.41 | 1.89 | 0.56 |
| Net Worth | 9.14 | 6.73 | 4.84 |
| Total Assets | 35.11 | 29.04 | 33.37 |
| Reserves & Surplus | 6.52 | 4.11 | 2.21 |
| Total Borrowings | 12.99 | 15.00 | 20.39 |
| EBITDA Margin (%) | 5.69% | — | — |
| PAT Margin (%) | 2.64% | — | — |
Mittal Sections Ltd proposes to utilize the net proceeds raised through this IPO for the following objects as stated in the Draft Red Herring Prospectus (DRHP) filed with SEBI: