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Mittal Sections Ltd. IPO is a book build issue of ₹52.91 crores. The issue is entirely a fresh issue of 0.37 crore shares of ₹52.91 crore.
Mittal Sections IPO bidding started from Oct 7, 2025 and ended on Oct 9, 2025. The allotment for Mittal Sections IPO was finalized on Oct 10, 2025. The shares got listed on BSE SME on Oct 14, 2025.
Mittal Sections IPO price band is set at ₹143.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,86,000.00 (2,000 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,000 shares), amounting to ₹4,29,000.
Wealth Mine Networks Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Sunflower Broking Pvt.Ltd..
Refer to Mittal Sections IPO RHP for detailed Information.
| IPO Date | October 7, 2025 to October 9, 2025 |
| Listing Date | October 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹136 to ₹143 per share |
| Issue Price Final | ₹143 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 37,00,000 shares (aggregating up to ₹52.91 Cr) |
| Reserved for Market Maker | 1,85,000 shares Sunflower Broking Pvt.Ltd. (aggregating up to ₹2.65 Cr) |
| Net Offered to Public | 35,15,000 shares (aggregating up to ₹50.26 Cr) |
| 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 IPO offers total 37,00,000 shares. Out of which 1,85,000 (5.00%) allocated to QIB, 16,65,000 (45.00%) allocated to NII 16,65,000 (45.00%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,85,000 (5.00%) |
| QIB Shares Offered | 1,85,000 (5.00%) |
| NII (HNI) Shares Offered | 16,65,000 (45.00%) |
| − bNII > ₹10L | 11,10,000 (30.00%) |
| − sNII < ₹10L | 5,55,000 (15.00%) |
| Retail Shares Offered | 16,65,000 (45.00%) |
| Total Shares Offered | 37,00,000 (100.00%) |
Mittal Sections IPO opens on October 7, 2025, and closes on October 9, 2025.
| IPO Open Date | Tue, Oct 7, 2025 |
| IPO Close Date | Thu, Oct 9, 2025 |
| Tentative Allotment | Fri, Oct 10, 2025 |
| Initiation of Refunds | Mon, Oct 13, 2025 |
| Credit of Shares to Demat | Mon, Oct 13, 2025 |
| Tentative Listing Date | Tue, Oct 14, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Oct 9, 2025 |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,86,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,86,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,29,000 |
| S-HNI (Max) | 6 | 6,000 | ₹8,58,000 |
| B-HNI (Min) | 7 | 7,000 | ₹10,01,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2009, Mittal Sections Limited is engaged in the manufacturing of basic iron and steel products.
The company is a manufacturer of mild steel sections and structural steel products, including MS flat bars, round bars, angles, and channels, offering a wide range of high-quality solutions.
The company markets its products under the brand name “MSL-MITTAL,” known for quality, durability, and industry standards, ensuring reliable steel products that meet strict specifications for client projects.
The company operates two manufacturing plants in Changodar, Ahmedabad, Gujarat, with an installed capacity of 36,000 MTPA. Expansion plans aim to increase capacity to 96,000 MTPA.
Products:
As of February 28, 2025, the company has 63 permanent employees.
Competitve Strengths:
Mittal Sections Ltd.'s revenue decreased by 15% and profit after tax (PAT) rose by 91% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 May 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 50.48 | 45.42 | 29.04 | 33.37 |
| Total Income | 28.17 | 137.07 | 161.65 | 167.53 |
| Profit After Tax | 1.47 | 3.61 | 1.89 | 0.56 |
| EBITDA | 2.48 | 7.79 | 5.53 | 3.27 |
| NET Worth | 11.81 | 10.34 | 6.73 | 4.84 |
| Reserves and Surplus | 3.94 | 2.47 | 4.11 | 2.21 |
| Total Borrowing | 20.70 | 21.09 | 15.00 | 20.39 |
| Amount in ₹ Crore | ||||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 34.92% |
| ROCE | 31.27% |
| Debt/Equity | 2.04 |
| RoNW | 34.92% |
| PAT Margin | 2.64% |
| EBITDA Margin | 5.69% |
| Price to Book Value | 10.87 |
| Market Capitalization | 165.42 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.59 | 7.61 |
| P/E (x) | 31.15 | 18.79 |
The Company Mittal Sections IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To Capital expenditure towards Acquisition of Land, Construction of Factory Building and Purchase of Plant & Machineries | 20.82 |
| 2 | To meet Working Capital requirements | 15.00 |
| 3 | Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company | 5.00 |
| 4 | General Corporate Purposes | 2.06 |
[Dilip Davda] MSL is engaged in the manufacturing and marketing of mild steel sections and structural steel products. It is expanding its capacity from 36000 MTPA to 96000 MTPA. The company posted rising profits on declining top line, and has surprised one and all. Super earnings in pre-IPO year appears to be a window dressing to fetch fancy valuations. Based on its recent financial data, the issue appears aggressively priced. There is no harm in avoiding this pricey and dicey “High Risk/Low Return” bet. Read detail review...
| Listing Date | October 14, 2025 |
| BSE Script Code | 544575 |
| NSE Symbol | |
| ISIN | INE833Q01012 |
| Final Issue Price | ₹143 per share |
| BSE Listing Group | MT (Trade to Trade) |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹143.00 |
| Open | ₹114.40 |
| Low | ₹108.70 |
| High | ₹114.40 |
| Last Trade | ₹108.70 |
Mittal Sections Ltd.
01, Sona Roopa Apartment,
Opp. Lal Bunglow, C.G. Road,
Navrangpura
Ahmedabad, Gujarat, 380009
Phone: +91-79-26465484
Email: info@mittalsections.com
Website: http://www.mittalsectionslimited.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Mittal Sections IPO is a SME IPO of 37,00,000 equity shares of the face value of ₹10 aggregating up to ₹52.91 Crores. The issue is priced at ₹143 per share. The minimum order quantity is 1000.
The IPO opens on October 7, 2025, and closes on October 9, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Mittal Sections IPO using UPI as a payment gateway. Zerodha customers can apply in Mittal Sections IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mittal Sections IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mittal Sections IPO opens on October 7, 2025 and closes on October 9, 2025.
Mittal Sections IPO lot size is 1000, and the minimum amount required for application is ₹2,86,000, with 2 lots being the minimum application size.
You can apply in Mittal Sections 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 Mittal Sections IPO will be done on Friday, October 10, 2025, and the allotted shares will be credited to your demat account by Monday, October 13, 2025. Check the Mittal Sections IPO allotment status.
The Mittal Sections IPO listing date is on Tuesday, October 14, 2025.
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