Mittal Sections IPO

Mittal Sections Limited, incorporated in 2009, manufactures mild steel sections and structural steel products, including MS flats, angles, round bars, and channels. Products are marketed under the brand “MSL-MITTAL,” known for quality, durability, and compliance with industry standards. The company serves diverse sectors like construction, automotive, and engineering. It operates two plants in Changodar, Ahmedabad, Gujarat, with a current installed capacity of 36,000 MTPA and expansion plans up to 96,000 MTPA.

Mittal Sections Limited IPO Overview

Mittal Sections Limited IPO is a book building issue with a total size of ₹52.91 crores, comprising entirely a fresh issue of 0.37 crore shares. The IPO opens for subscription on 7 October 2025 and closes on 9 October 2025, with allotment expected to be finalized on 10 October 2025. The shares are proposed to be listed on the BSE SME segment, with a tentative listing date of 14 October 2025. The price band for the issue is fixed between ₹136 and ₹143 per share. The lot size for applications is 1,000 shares, and the minimum investment for retail investors is ₹2,86,000, based on the upper price of the band. For high-net-worth investors (HNI), the minimum investment is three lots, totaling 3,000 shares or ₹4,29,000. Wealth Mine Networks Pvt. Ltd. is appointed as the book running lead manager, while Bigshare Services Pvt. Ltd. serves as the registrar for the issue.

Mittal Sections Limited IPO Details

Particulars	Details
IPO Date	7 October 2025 to 9 October 2025
Listing Date	14 October 2025 (Tentative)
Face Value	₹10 per share
Issue Price Band	₹136 to ₹143 per share
Lot Size	1,000 Shares
Total Issue Size	37,00,000 shares (aggregating up to ₹52.91 Cr)
Fresh Issue	37,00,000 shares (aggregating up to ₹52.91 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	78,67,500 shares
Share Holding Post Issue	1,15,67,500 shares

Mittal Sections Limited 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

Mittal Sections Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	2,000	₹2,86,000
Retail (Max)	2	2,000	₹2,86,000
HNI (Min)	3	3,000	₹4,29,000
HNI (Max)	6	6,000	₹8,58,000
B-HNI (Min)	7	7,000	₹10,01,000

Mittal Sections Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	99.92%
Post-Issue	TBD

Mittal Sections Limited IPO Valuation Overview

KPI	Value
EPS	2.41 (Pre IPO), 4.17 (Post IPO)
Price/Earnings (P/E) Ratio	59.42 (Pre IPO), 34.27 (Post IPO)
Return on Net Worth (RoNW)	28.13%
Net Asset Value (NAV)	8.56
Return on Equity	28.13%
Return on Capital Employed (ROCE)	42.05%
EBITDA Margin	TBD
PAT Margin	1.17%
Debt to Equity Ratio	2.23

Objectives of the Proceeds

• Capital expenditure for land, factory, and plant & machinery ₹208.88M

• Meet working capital requirements ₹150M

• Full/part repayment of secured borrowings ₹50M

• General corporate purposes

Key Financials (in ₹ Crores)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	35.11	29.04	33.37	32.3
Revenue	68.97	161.65	167.53	149.35
Profit After Tax	2.41	1.89	0.56	0.6
Reserves and Surplus	6.52	4.11	2.21	1.66
Total Borrowings	12.99	15	20.39	13.54