Bookbuilding IPO | ₹53 Cr | Listed at BSE SME | Tue, Oct 7, 2025 - Thu, Oct 9, 2025
Mittal Sections 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 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 (2,000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Oct 7, 2025
IPO Close
Thu, Oct 9, 2025
Issue Price
₹143 per share
Market Cap (Pre-IPO)
₹165.42 Cr
| IPO Date | 7 to 9 Oct, 2025 |
| Listed on | Tue, Oct 14, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹136 to ₹143 |
| Issue Price | ₹143 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 37,00,000 shares (agg. up to ₹53 Cr) |
| Reserved for Market Maker | 1,85,000 shares Sunflower Broking Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 35,15,000 shares (agg. up to ₹50 Cr) |
| Net Offered to Public | 35,15,000 shares (agg. up to ₹50 Cr) |
| Share Holding Pre Issue | 78,67,500 shares |
| Share Holding Post Issue | 1,15,67,500 shares |
| BSE Script Code | 544575 |
| ISIN | INE833Q01012 |
Mittal Sections IPO comprises a total issue size of 37,00,000 shares. The net offer to the public is 35,15,000 shares, after excluding 1,85,000 shares allotted on a firm basis. Of the Net offer 1,85,000 (5.26%) are allocated to QIB, 16,65,000 (47.37%) allocated to NII 16,65,000 (47.37%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 1,85,000 | 5.26% | 5.00% |
| NII (HNI) Shares Offered | 16,65,000 | 47.37% | 45.00% |
| − bNII > ₹10L | 11,10,000 | 30.00% | |
| − sNII < ₹10L | 5,55,000 | 15.00% | |
| Retail Shares Offered | 16,65,000 | 47.37% | 45.00% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,85,000 | 5.00% | |
| Total Shares Offered | 37,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| 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 |
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 | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.59 | 7.61 |
| P/E (x) | 31.15 | 18.79 |
| Promoter Holding | 99.92% | 67.95% |
| Market Cap | ₹165.42 Cr. |
The Mittal Sections IPO is subscribed 2.25 times on October 9, 2025 5:04:48 PM (Day 3). The public issue subscribed 4.08 times in the individual investors category, 1.13 times in the QIB category, and 0.55 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.13 | 1,85,000 | 2,09,000 | 0 |
| NII* | 0.55 | 16,65,000 | 9,19,000 | 0 |
| bNII (bids above ₹10L) | 0.41 | 11,10,000 | 4,59,000 | |
| sNII (bids below ₹10L) | 0.83 | 5,55,000 | 4,60,000 | |
| Individual Investor | 4.08 | 16,65,000 | 67,98,000 | 0 |
| Total | 2.25 | 35,15,000 | 79,26,000 | 3,633 |
Total Application : 3,633
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees to BRLM including Underwriting fees | 2.18 |
| 2 | Fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses. | 0.30 |
| 3 | Brokerage and selling commission | 0.12 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.12 |
| 5 | Advertisement and Marketing Expenses | 7.08 |
| 6 | Stock Exchange Fees, Regulatory and other Expenses | 0.24 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹143.00 |
| Open | ₹114.40 |
| Low | ₹108.70 |
| High | ₹114.40 |
| Last Trade | ₹108.70 |
Lead Manager Reports
Mittal Sections IPO is a SME IPO of 37,00,000 equity shares of the face value of ₹10 aggregating up to ₹53 Crores. The issue is priced at ₹143 per share. The minimum order quantity is 1000.
The IPO opens on Tue, Oct 7, 2025, and closes on Thu, Oct 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 Tue, Oct 7, 2025 and closes on Thu, Oct 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 Mon, Oct 13, 2025. Check the Mittal Sections IPO allotment status.
The Mittal Sections IPO listing date is on Tue, Oct 14, 2025.
