Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
Madhur Iron & Steel (India) Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with SEBI on March 9, 2026.
Madhur Iron & Steel (India) Ltd. IPO was a Book Build Issue consisting solely of fresh issue of upto 1.00 crore equity shares.
The equity shares were proposed to be listed on NSE and BSE. Share India Capital Services Pvt.Ltd. was the book running lead manager and Bigshare Services Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,00,00,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 1,00,00,000 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 2,97,84,546 shares |
| Share Holding Post Issue | 3,97,84,546 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Jan 23, 2026 |
| Offer document withdrawn | Mon, Mar 9, 2026 |
| 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 Shares Offered | Not less than 15% of the Net Offer |
Incorporated in 2012, Madhur Iron & Steel (India) Ltd. is engaged in the manufacturing and trading of structural steel products in India. The Company operates primarily under a business-to-business (B2B), order-based model, supplying products to institutional and industrial customers.
The Company manufactures a range of re-rolled structural steel products, including Angles, Channels, Mild Steel (MS) Sections, Flats and Rods. It operates through two business verticals: manufacturing of structural steel products and trading of steel products, enabling it to serve diverse customer requirements across infrastructure, engineering and construction sectors.
Its products cater to multiple end-use industries such as railway electrification, state electricity boards, power and energy infrastructure, telecom tower manufacturing, automotive and ancillary units, offshore structure fabrication, construction and real estate, general engineering and auto body manufacturing.
In 2025, the Company expanded its manufacturing unit to enhance production capacity and operational efficiency. As of FY2025, the installed capacity stands at 56,700 MT per annum for the rolling mill and 7,800 MT per annum for the fabrication unit.
The Company markets its products under the registered brand name “SARAL.”
As of September 30, 2025, it had 178 permanent employees.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 270.44 | 236.25 | 127.59 | 80.11 |
| Total Income | 192.70 | 340.67 | 239.81 | 193.24 |
| Profit After Tax | 9.80 | 18.12 | 12.56 | 6.53 |
| EBITDA | 20.16 | 35.12 | 24.10 | 13.87 |
| NET Worth | 103.78 | 93.99 | 42.77 | 19.36 |
| Total Borrowing | 101.32 | 84.27 | 57.76 | 30.00 |
| Amount in ₹ Crore | ||||
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 9.91% | 26.50% |
| ROCE | 8.54% | 17.76% |
| Debt/Equity | 0.98 | 0.90 |
| RoNW | 9.44% | 19.28% |
| PAT Margin | 5.10% | 5.34% |
| EBITDA Margin | 10.49% | 10.34% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.08 | 4.92 |
| Promoter Holding | 78.32% |
Lead Manager Reports
Madhur Iron and Steel IPO is a main-board IPO of 1,00,00,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Madhur Iron and Steel IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Madhur Iron and Steel IPO using UPI as a payment gateway. Zerodha customers can apply in Madhur Iron and Steel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Madhur Iron and Steel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Madhur Iron and Steel IPO dates are not announced. Please check back again after some time.
Madhur Iron and Steel IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Madhur Iron and Steel IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Madhur Iron and Steel IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Madhur Iron and Steel IPO allotment status.
The Madhur Iron and Steel IPO listing date is not yet announced. The tentative date of listing is .
