RKB Global Limited IPO

IPO Details

• Open date: TBA
• Close Date: TBA
• Minimum Investment: To be updated
• Lot Size: TBA
• Price Range: TBA
• Listing: BSE, NSE
• Issue Size: 1,46,20,000 equity shares (Fresh 1,26,00,000 shares + OFS 20,20,000 shares)
• Listing Date: TBA

IPO Timeline

• Bidding Start: TBA
• Bidding Ends: TBA
• Allotment Finalisation: TBA
• Refund Initiation: TBA
• Demat Transfer: TBA
• Listing: TBA

About RKB Global Limited

Established in 1933, RKB Global Limited is engaged in importing, exporting, trading, distribution, and manufacturing of iron and steel products, along with iron ore mining and pre-engineered building structural components. The company produces graded wires, ERW pipes, bright bars, MS rods, profile sheets, welding electrodes, and PEB components. With manufacturing facilities in Wada and Taloja (Maharashtra) spanning ~14 acres, it has an installed capacity of 53,430 MTPA as of September 30, 2025, and offers over 200 SKUs serving construction, automotive, and engineering industries.

RKB Global Limited IPO Overview

RKB Global Limited filed its DRHP with SEBI on March 20, 2026, for a book-built IPO of 1,46,20,000 equity shares, comprising a fresh issue of up to 1,26,00,000 shares and an offer for sale (OFS) of up to 20,20,000 shares by the promoters. The issue size in value terms is yet to be announced. The company may consider a pre-IPO placement. Net proceeds from the fresh issue will be utilized for purchase of plant and machinery (₹143.04 million), solar panel installation (₹29.00 million), machinery for mining vertical (₹142.08 million), repayment of borrowings (₹500.00 million), funding working capital (₹500.00 million), and general corporate purposes. Promoters are Alok Virat Shah and Virat Sevantilal Shah, holding 80.16% pre-issue. Lead manager: Aryaman Financial Services Ltd. Registrar: MUFG Intime India Pvt. Ltd. Listing on BSE and NSE. IPO dates, price band, and lot size are TBA.

RKB Global Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	1,46,20,000 shares (aggregating up to ₹[.] Cr)
Fresh Issue	1,26,00,000 shares (aggregating up to ₹[.] Cr)
Offer for Sale (OFS)	20,20,000 shares of ₹10 (aggregating up to ₹[.] Cr)
IPO Dates	TBA
Price Bands	TBA
Lot Size	TBA
Face Value	₹10 per share
Listing Exchange	BSE, NSE
Shareholding pre-issue	80.16% (Promoter)
Shareholding post-issue	TBA

IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	TBA	TBA	TBA
Retail (Max)	TBA	TBA	TBA
S-HNI (Min)	TBA	TBA	TBA
S-HNI (Max)	TBA	TBA	TBA
B-HNI (Min)	TBA	TBA	TBA

RKB Global Limited IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Offer
Retail Shares Offered	Not less than 35% of the Net Offer
NII (HNI) Shares Offered	Not less than 15% of the Net Offer

RKB Global Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹2.32
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	4.89%
Net Asset Value (NAV)	₹48.55
Return on Equity (RoE)	4.89%
Return on Capital Employed (RoCE)	7.39%
EBITDA Margin	7.64%
PAT Margin	3.50%
Debt-to-Equity Ratio	0.28x

Objectives of the IPO Proceeds

The net proceeds from the Fresh Issue are intended to be utilised as follows:

Particulars	Amount (₹ in million)
Purchase of plant & machinery for Wada facility	143.04
Purchase of solar panel for Wada facility	29.00
Purchase of machinery for mining vertical	142.08
Repayment/prepayment of certain borrowings	500.00
Funding incremental working capital requirements	500.00
General corporate purposes*	[●]

*To be determined upon finalisation of the Offer Price. General corporate purposes shall not exceed 25% of gross proceeds.

RKB Global Limited Financials (₹ in million)

Particulars	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	3,353.56	3,521.38	2,879.33	2,299.93
Revenue	2,900.89	4,111.18	4,328.33	3,600.01
Profit After Tax	101.55	110.87	79.16	53.71
Reserves and Surplus	1,687.19	1,586.27	1,059.61	168.22
Total Borrowings	599.70	637.02	375.56	864.00
Total Liabilities	1228.65	1497.39	1427.00	1842.12

Financial Status of RKB Global Limited

SWOT Analysis of RKB Global Limited

Strengths	Opportunities
Established in 1933 with over 90 years of industry legacy	India’s per capita steel consumption at 102.6 kg vs global 214.7 kg offers huge growth headroom
Well-established manufacturing facilities across 14 acres in Maharashtra	PEB market expected to grow at 12% CAGR from CY24 to CY29
Diversified business model across manufacturing, trading, mining, and exports	Government’s National Steel Policy 2017 targets 300 MT capacity by 2031
Well-established trading vertical contributing 39.58% of H1 FY26 revenue	Acquisition of V.S. Dempo Mining to secure iron ore resources
Experienced promoters with over 50 years (Virat Shah) and 18 years (Alok Shah)	Export markets in Singapore and Hong Kong with 15.09% of H1 FY26 revenue
Extensive distribution network across Maharashtra with multiple branches	Rising demand for high carbon and stainless steel products
Long-standing relationships with reputed suppliers like authorised dealer since 2016	Government’s infrastructure push under Atmanirbhar Bharat
Holds ISO 9001, 14001, and 45001 certifications for quality and safety	Solar panel installation to reduce energy costs and carbon footprint
Offers over 200 SKUs across low carbon wires, bright bars, and PEB components	Increasing preference for pre-engineered buildings in industrial construction
High geographical concentration in Maharashtra (77.88% of H1 FY26 revenue)	Intense competition from larger players like Lloyds Metal, Bansal Wire
Low PAT margin of 2.68% compared to industry peers	Volatility in raw material prices (HR coils, GP coils) impacting margins
Customer concentration: top 1 customer contributed 35.04% of H1 FY26 revenue	Cyclical nature of steel industry linked to economic slowdowns
Decline in trading revenue from 81.53% (FY23) to 39.58% (H1 FY26) affecting stability	Regulatory changes in mining leases and environmental clearances
Low cash and cash equivalents of ₹1.68 million as of Sep 30, 2025	Fluctuations in global iron ore and steel prices
Recent brand ‘Virat’ is new with limited established equity	Currency exchange rate risks on export transactions
Moderate RoCE of 10.21% compared to peer average	Rising competition from organised and unorganised steel processors
Negative operating cash flow in FY24 and FY25	Delays in government infrastructure projects could reduce steel demand
Reliance on few key suppliers: top 3 suppliers account for ~48% of purchases	Trade barriers or tariffs on steel imports/exports

RKB Global Limited IPO Strengths

Well Established Manufacturing Facility and Operational Set Up

RKB Global Limited operates manufacturing facilities in Wada and Taloja, Maharashtra, spanning approximately 14 acres with an installed capacity of 53,430 MTPA as of September 30, 2025. The company holds ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health and Safety) certifications. The facilities are equipped with precision equipment for wire drawing, straightening, slitting, cut-to-length, welding, and rolling, enabling efficient steel processing and value addition.

Diversified Business Model through Multiple Revenue Streams

RKB Global Limited generates revenue from manufacturing, trading, mining, and exports. Manufacturing revenues have grown from 17.40% of total revenue in FY2023 to 60.33% in the six months ended September 2025, reflecting a strategic shift toward value-added operations. The trading vertical provides stable revenue and complementary scale, while iron ore mining and export activities diversify income sources and reduce dependence on any single business segment.

Well-Established Trading Vertical

RKB Global Limited commenced operations as a trading enterprise, and trading continues to be a core component of its business model. The trading vertical contributed 39.58% of total revenue for the six months ended September 2025, dealing in HR coils, GP coils, PPGI coils, PPGL coils, pipes, and iron ore. The company’s long-standing experience in trading, combined with deep understanding of market dynamics and pricing trends, enables efficient inventory and working capital management.

Experienced Promoters and Professional Management Team

RKB Global Limited is led by qualified and experienced promoters. Virat Sevantilal Shah, Chairman and Managing Director, has over 50 years of experience in strategic planning and business development. Alok Virat Shah, representing the fourth generation, has over 18 years of experience overseeing finance, manufacturing, and purchase functions. The promoters are supported by a professional management team with strong operational, technical, and financial expertise, providing a competitive advantage in scaling operations.

Extensive Distribution Network in Maharashtra

RKB Global Limited has established a robust and well-integrated distribution network across Maharashtra with multiple branches. This widespread geographic presence enables the company to cater to a diverse customer base across urban, semi-urban, and industrial regions, ensuring timely availability of steel products. Proximity to key consumption centres and transportation corridors allows optimisation of logistics costs, reduced delivery lead times, and prompt response to regional demand fluctuations.

Long-Standing Relationships with Suppliers and Customers

RKB Global Limited has been an authorised dealer of reputed steel product manufacturers since 2016, ensuring reliable supply of MS rods, GP coils, PPGI coils, and PPGL coils. The company has also built long-standing customer relationships based on consistent product quality and timely delivery. Top 10 suppliers accounted for 90.69% of purchases, and top 10 customers contributed 74.57% of revenue for the six months ended September 2025, reflecting stable business relationships.

Other IPO Pages Linking

More About RKB Global Limited

RKB Global Limited, originally established in 1933, has evolved from a trading enterprise into an integrated steel products company with manufacturing, mining, and export capabilities.

Manufacturing Facilities and Products

• Wada Facility (Palghar district): Land area 53,920 sq.mtr., installed capacity 40,730 MTPA. Products include mild steel (low carbon) wires, bright bars, MS rods, welding electrodes, and PEB components.
• Taloja Facility: Additional manufacturing capacity for steel processing.
• Total installed capacity: 53,430 MTPA as of September 30, 2025.
• Product portfolio: Over 200 SKUs including 55+ low carbon products, 80+ wires, and 55+ bright bars.

Business Verticals

• Manufacturing: Wire drawing, straightening, slitting, cut-to-length, welding, and rolling. Manufacturing revenue share increased from 17.40% (FY23) to 60.33% (H1 FY26).
• Trading: HR coils, GP coils, PPGI coils, PPGL coils, pipes, agro-based products, and iron ore. Trading contributed 39.58% of H1 FY26 revenue.
• Mining: Acquiring V.S. Dempo Mining Corporation Private Limited (consideration ₹1,050 million) to secure iron ore resources. Also L1 bidder for iron ore dump auction by Government of Goa.
• Exports: Singapore (15.09% of H1 FY26 revenue) and Hong Kong (9.76% of FY25 revenue).

Brand and Certifications

• Recently launched brand “Virat” to create distinct identity in domestic and international markets.
• ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified.

Subsidiary and Acquisitions

• RKB Steel Private Limited (wholly-owned subsidiary) entered into Share Purchase Agreement on October 14, 2025, to acquire 100% shares of V.S. Dempo Mining Corporation Private Limited. Acquisition expected to complete by September 2027.

Industry Outlook

India’s steel industry is poised for significant growth driven by infrastructure development and government initiatives. As per the National Steel Policy 2017, the government aims to scale production capacity from 179.5 million tonnes (MT) in FY24 to 300 MT by FY31, to meet projected steel demand of 230 MT.

Key Growth Drivers:

• Per Capita Consumption Gap: In CY24, India’s per capita finished steel consumption stood at 102.6 kg, well below the global average of 214.7 kg. The National Steel Policy aims to raise this to 160 kg, indicating substantial headroom for growth.
• Infrastructure Push: Government’s capital expenditure on railways, highways, and urban infrastructure is expected to drive steel demand. Railway capex is projected to grow from ₹2.6 lakh crore in FY25 to ₹4.4 lakh crore by FY31.
• PEB Market Growth: The pre-engineered building (PEB) market is expected to grow at a CAGR of 12% from CY24 to CY29, driven by demand for quick construction, sustainable buildings, warehouses, cold storage, and data centres. Industrial construction dominates the PEB segment.
• Steel Consumption Trends: India’s finished steel consumption grew at a CAGR of ~7% over the last five years. The construction and automotive sectors are the largest consumers.
• Export Opportunities: Indian steel exports have gained traction in markets like Europe, Middle East, and Southeast Asia. RKB Global already exports to Singapore and Hong Kong.

Manufacturing Focus: The government’s Atmanirbhar Bharat vision and production-linked incentive (PLI) schemes for specialty steel are expected to boost domestic manufacturing capabilities. Value-added steel products, including high carbon steel wires and stainless steel products, are witnessing increased demand from automotive and engineering sectors.

How Will RKB Global Limited Benefit

• RKB Global Limited is well-positioned to benefit from India’s rising per capita steel consumption, which at 102.6 kg is half the global average, offering massive expansion headroom as infrastructure spending accelerates.
• The company’s planned expansion of Wada facility from 40,730 MTPA to 63,750 MTPA by FY2027 will allow it to capture growing demand for mild steel, high carbon steel, and stainless steel products.
• The shift from primarily mild steel to value-added high carbon and stainless steel products is expected to result in superior realisations and improved operating margins, enhancing profitability.
• The acquisition of V.S. Dempo Mining Corporation provides backward integration into iron ore, reducing dependence on third-party procurement and securing raw material supply for manufacturing and export.
• The PEB market growing at 12% CAGR creates opportunities for RKB Global’s structural component manufacturing, especially with demand for warehouses, cold storage, and data centres rising rapidly.
• Installation of 500 KVA solar panel at Wada facility will reduce energy costs and carbon footprint, aligning with sustainability goals and improving long-term cost competitiveness.
• With a diversified revenue mix across manufacturing (60%), trading (40%), and mining, the company is insulated from sector-specific downturns and can pivot to high-demand segments quickly.

Peer Group Comparison

Name of Company	Face Value (₹)	Revenue (₹ in million)	Basic EPS (₹)	NAV (₹)	P/E Ratio	RoNW (%)
RKB Global Limited	10.00	4,111.18	2.69	46.24	[●]	5.48%
Peer Group
Bansal Wire Industries Limited	5.00	35,071.68	9.73	81.06	26.05	16.92%
Bansal Roofing Products Limited	10.00	966.25	4.20	25.14	24.67	18.23%
Lloyds Metal & Energy Limited	1.00	66,263.10	28.01	122.35	43.66	31.48%
Classic Electrodes (India) Limited	10.00	2,057.95	8.80	34.26	6.58	25.70%

Key Strategies for RKB Global Limited

Expansion of Existing Wada Facility to Capitalize on Industry Opportunities

RKB Global Limited plans to expand installed capacity from 40,730 MTPA to 63,750 MTPA by FY2027 at its Wada facility. The company will invest ₹143.04 million in plant and machinery and ₹29.00 million in a 500 KVA solar panel. Strategic expansion includes commencing high carbon steel wires (6,200 MTPA) to shift from mild steel to value-added products, yielding superior realisations and improved operating margins.

Improving the Debt Equity Ratio of the Company

RKB Global Limited proposes to utilize ₹500 million from Net Proceeds towards full or partial repayment of certain borrowings. As of September 30, 2025, outstanding borrowings stood at ₹599.70 million. The repayment will reduce outstanding indebtedness and debt servicing costs, improve ROCE (currently 10.21%), and enable utilization of internal accruals for business growth. Improved financial leverage will enhance future fundraising ability.

Continue to Build on Industry Legacy and Strengthen Emerging ‘Virat’ Brand

With over 90 years of legacy, RKB Global Limited has launched the brand “Virat” to create distinct identity in domestic and international markets. Backed by technical expertise and a well-established dealer network, the company intends to invest in digital marketing, social media campaigns, event-based marketing, and industry outreach programs to expand brand awareness, attract new customers, and strengthen positioning across markets.

Augment Capital Base for Adequate Working Capital

RKB Global Limited aims to strengthen its capital base to ensure adequate working capital availability as it expands from mild steel into high carbon and stainless steel segments. The company proposes to utilize ₹500 million from Net Proceeds for incremental working capital requirements. Enhanced liquidity will enable maximum capacity utilisation, swift response to market opportunities, and increased order-handling capacity to scale production volumes and revenues.

Leverage Iron Ore Resources to Drive Growth

RKB Global Limited is acquiring V.S. Dempo Mining Corporation Private Limited through its subsidiary RKB Steel Private Limited for ₹1,050 million, expected to complete by September 2027. The acquired mining lease benefits from proximity to road, rail, and ports for efficient iron ore evacuation. The company has also emerged as L1 bidder for iron ore dump auction by Government of Goa. These initiatives enhance supply security and reduce third-party procurement dependence.

Focus on Scaling Manufacturing Operations

RKB Global Limited is transitioning from a trading-led to a manufacturing-led business model. Manufacturing revenues have grown from 17.40% of total revenue in FY2023 to 60.33% in H1 FY2026. The company will continue leveraging synergies between manufacturing and trading to improve margins, exercise greater control over quality and supply chains, and support sustainable long-term growth through efficient capacity utilisation, cost optimisation, and disciplined capital expenditure.

FAQs

How can I apply for RKB Global Limited IPO?

You can apply via HDFCSky using UPI-based ASBA (Application Supported by Blocked Amount).

What is the total issue size of the RKB Global Limited IPO?

The IPO comprises 1,46,20,000 equity shares, including fresh issue of 1,26,00,000 shares and OFS of 20,20,000 shares.

When is the RKB Global Limited IPO opening?

IPO dates including open, close, and listing are yet to be announced by the company.

On which exchanges will RKB Global Limited shares be listed?

The equity shares will be listed on both BSE (mainboard) and NSE.

How will RKB Global Limited use the IPO proceeds?

Proceeds will fund plant & machinery (₹143 mn), solar panel (₹29 mn), mining machinery (₹142 mn), debt repayment (₹500 mn), and working capital (₹500 mn).

Infographic Content

RKB Global Limited IPO Highlights

Established in 1933, RKB Global Limited is an integrated steel products company with manufacturing, trading, mining, and export operations, offering over 200 SKUs across wires, bars, rods, electrodes, and PEB components.

• Offer Size:1,46,20,000 equity shares (Fresh 1,26,00,000 shares; OFS 20,20,000 shares)
• Purpose:Net proceeds from fresh issue will be used for capacity expansion (₹143 mn), solar installation (₹29 mn), mining machinery (₹142 mn), debt repayment (₹500 mn), and working capital (₹500 mn).
• Financials (FY March 2025):Revenue ₹4,111.18 million; Profit After Tax ₹110.87 million; EPS ₹2.69; RoNW 5.48%; NAV ₹46.24 per share
• Listing:Mainboard IPO on BSE & NSE