Mittal Sections IPO Sees Strong Final-Day Demand; Retail Portion Oversubscribed

Ahmedabad, October 9, 2025: Mittal Sections Limited’s SME initial public offering continued to witness robust investor demand on its final day, led primarily by strong retail participation. As of 11:12 a.m., the issue had attracted bids for 68.21 lakh shares against the total offer of 37 lakh shares, reflecting an overall subscription of 1.84 times.

Based in Ahmedabad, Mittal Sections IPO manufactures mild steel and structural steel products, including MS Flat Bars, Round Bars, Angles, and Channels, under the “MSL-Mittal” brand. The company operates two BIS-certified and ISO 9001:2015-compliant factories at Changodar, Ahmedabad, with a current production capacity of 36,000 MTPA, set to expand to 96,000 MTPA by FY2026. Strong demand for its IPO reflects investor confidence in the company’s growth trajectory and market position.

Mittal Sections IPO Retail Investors Drive Oversubscription

Retail investors emerged as the key drivers, bidding 3.39 times their allotted shares, while non-institutional investors showed moderate participation at 0.56 times. Qualified institutional buyers remained cautious, with bids covering 0.75 times their allocation. The strong retail demand underscores investor confidence in the company’s growth prospects.

Mittal Sections IPO Investor Confidence Manifests in Price Band Bidding

Bids were largely concentrated at the upper end of the price band, signalling strong confidence in the company’s valuation. Most applications clustered between ₹136 and ₹143 per share, indicating that investors were willing to subscribe closer to the higher price point.

Mittal Sections IPO Details

The Mittal Sections IPO has an issue size of ₹52.91 crore, comprising 37 lakh equity shares with a price band of ₹136-₹143 per share and a face value of ₹10. The IPO, which opened on 7 October and closes today, is scheduled to list on the BSE SME platform on 14 October 2025.

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