Mittal Sections IPO Subscription Crosses 1.44× on Day 2; Retail Segment Leads with 2.70× Demand

Ahmedabad, October 8, 2025 – Mittal Sections Limited SME IPO continued to see robust investor demand on the second day of the bidding process, registering an overall subscription of 1.44 times at 12:26 p.m. IST. BSE SME platform data indicated bids of 53.44 lakh shares against the offer size of 37 lakh shares, led predominantly by strong retail participation.

Mittal Sections is based in Ahmedabad and produces structural steel and mild steel products, such as MS Flat Bars, Round Bars, Angles, and Channels, under the brand name MSL-Mittal. Its Changodar, Ahmedabad-based manufacturing facilities hold ISO 9001:2015 and BIS IS 2062:2011 certifications and have an installed capacity of 36,000 MTPA, which is proposed to increase to 96,000 MTPA by FY2026. It has its major customers in the construction, infrastructure, and engineering industries.

Mittal Sections IPO Key Subscription Details

The retail individual investor (RII) segment proved to be the most contributor, with 45.02 lakh shares bid, which is a 2.70× subscription against their share portion. Conversely, the Qualified Institutional Buyer (QIB) segment experienced limited action with bids for 1.39 lakh shares, or 0.75× of the size, while Non-Institutional Investor (NII) segment was subscribed 0.38×, reflecting moderate participation, a pattern typical of SME issues where institutional demand tends to peak closer to the last day.

Bid arrangements were high up in the price band, with units at ₹143 attracting 52.84 lakh units bid, followed by ₹142 and ₹141, showing retail investors’ keen interest to invest in the issue at nearly maximum price.

Mittal Sections IPO Details

The Mittal Sections IPO is valued at ₹52.91 crore for 37 lakh shares with a price band of ₹136–₹143 per share and a face value of ₹10. The lot size is 1,000 shares with a minimum investment of ₹1.36 lakh (two lots). The issue was opened on October 7, 2025, and is scheduled to close on October 9, 2025, with a proposed listing date of October 14, 2025, on the BSE SME platform.

Outlook

With retail participation driving oversubscription and aggregate demand exceeding full subscription several times before the closure day, Mittal Sections IPO is looking to deliver a robust listing performance. Investor optimism over the company’s fundamentals and valuation continues to be high, promising a good launch on the BSE SME platform on October 14, 2025.

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