M P K Steels IPO

₹1,12,500/1500 shares

Minimum Investment

IPO Details

Open Date

26 Sep 25

Close Date

30 Sep 25

Minimum Investment

₹1,12,500

Lot Size

1500

Price Range

₹75 to ₹79

Listing Exchange

BSE

Issue Size

₹25.74 Cr

Listing Date

06 Oct 25

Open Free Demat Account

M P K Steels IPO Timeline

Bidding Start

26 Sep 25

Bidding Ends

30 Sep 25

Allotment Finalisation

01 Oct 25

Refund Initiation

03 Oct 25

Demat Transfer

03 Oct 25

Listing

06 Oct 25

M P K Steels (I) Limited

M P K Steels (I) Limited, incorporated in 2005, specialises in manufacturing structural steel products catering to sectors such as railways, telecom, power, automotive, construction, fabrication, offshore structures, and infrastructure. Its diverse portfolio includes M.S. Channels, Angles, Beams, Squares, Rounds, and Flats, with M.S. Channels being the key revenue driver. The company operates from its Jaipur-based facility at RIICO Industrial Area, supported by skilled engineers, professionals, and workforce. With a strong distribution network spanning Rajasthan, Punjab, West Bengal, Gujarat, Haryana, Uttar Pradesh, Assam, and Madhya Pradesh, it ensures market reach and reliable supply.

M P K Steels (I) Limited IPO Overview

M P K Steels (I) Limited IPO is a book-built issue worth ₹25.74 crores, comprising a fresh issue of 0.33 crore shares. The subscription opens on September 26, 2025, and closes on September 30, 2025, with allotment expected on October 1, 2025. The IPO is scheduled to list on the BSE SME platform on October 6, 2025. The price band has been fixed at ₹75 to ₹79 per share, with a lot size of 1,500 shares. For retail investors, the minimum application requires 3,000 shares amounting to ₹2,37,000, while HNIs must apply for at least 4,500 shares worth ₹3,55,500. Gretex Corporate Services Ltd. acts as the book running lead manager, Maashitla Securities Pvt. Ltd. is the registrar, and Gretex Share Broking Pvt. Ltd. serves as the market maker.

M P K Steels (I) Limited IPO Details

Particulars	Details
IPO Date	26 September 2025 to 30 September 2025
Listing Date	6 October 2025
Face Value	₹10 per share
Issue Price Band	₹75 to ₹79 per share
Lot Size	1,500 Shares
Total Issue Size	32,58,000 shares (aggregating up to ₹25.74 Cr)
Fresh Issue	32,58,000 shares (aggregating up to ₹25.74 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	69,23,358 shares
Share Holding Post Issue	1,01,81,358 shares
Market Maker Portion	1,63,500 shares

M P K Steels IPO Reservation

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

M P K Steels IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	3,000	₹2,37,000
Retail (Max)	2	3,000	₹2,37,000
S-HNI (Min)	3	4,500	₹3,55,500
B-HNI (Min)	9	13,500	₹10,66,500

M P K Steels IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	97.82%
Post-Issue	(to be updated)

M P K Steels IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	Pre IPO: ₹8.74 ; Post IPO: ₹5.95
Price/Earnings (P/E) Ratio	Pre IPO: 9.04x ; Post IPO: 13.29x
Return on Net Worth (RoNW)	24.98%
Net Asset Value (NAV)	₹35 per share
Return on Equity	28.55%
Return on Capital Employed (ROCE)	19.32%
EBITDA Margin	4.21%
PAT Margin	2.93%
Debt to Equity Ratio	0.76

Objectives of the Proceeds

Capital expenditure towards purchase of machinery and dies – ₹2.65 Cr

Capital expenditure towards installation of solar plant – ₹7.00 Cr

Funding working capital requirements of the company – ₹9.18 Cr

General corporate purposes – balance funds utilisation

Key Financials (₹ in Crores)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	62.36	56.64	45.67
Revenue	208.03	189.17	138.85
Profit After Tax	6.05	3.11	1.81
Reserves and Surplus	17.31	14.72	11.61
Total Borrowings	18.48	13.94	14.54

SWOT Analysis of M P K Steels IPO

Strength and Opportunities

Strong product portfolio with diversified structural steel offerings
Established distribution network across multiple states
Significant growth in revenue and profitability in recent years
Experienced promoters and skilled workforce
Strategic factory location in Jaipur for logistics efficiency

Risks and Threats

High dependence on raw material price fluctuations
Intense competition from large integrated steel players
Lower margins compared to large listed peers
Exposure to cyclical nature of steel and infrastructure demand
Vulnerability to regulatory and environmental compliances

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About About M P K Steels (I) Limited

M P K Steels IPO Strengths

Promoters possess decades of industry experience in steel manufacturing operations.

Wide product portfolio including M.S. Channels, Angles, Flats, Beams, and Rounds.

Strong distribution network across multiple Indian states with consistent demand.

Long-standing customer relationships ensuring repeat business and stable revenue.

Factory strategically located in Jaipur, enabling operational and logistics efficiency.

Steady financial growth with increasing revenues and profitability in recent years.

Rigorous quality control and assurance measures supporting brand reliability.

Dual plant operations at a single site increasing production efficiency.

Peer Group Comparison (as of 31 March 2025)

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹)	P/E (x)	RoNW (%)	P/BV Ratio
M P K Steels (I) Ltd.	8.74	8.74	35.00	9.04 / 13.29	24.98	2.26
Peer Group
Rathi Bars Ltd	1.57	1.57	57.51	21.92	2.65	0.60
Mangalam Worldwide Ltd	10.57	10.57	86.20	15.58	11.67	1.90

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