Ahmedabad: MP Steel Limited (MPL), a manufacturer of stainless-steel products, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (MP Steel IPO).
The proposed MP Steel IPO will comprise a fresh issue of equity shares and an Offer for Sale (OFS) by the company’s Promoters.
MP Steel Limited manufactures black and bright stainless steel products in round, hexagonal, square, angle and flat bars/pattis. The company also manufactures forging ingots, channels, fasteners and other ancillary products.
The company primarily operates in the B2B segment and supplies its products to traders and manufacturers across a range of industrial applications.
These include defence, pharmaceuticals, infrastructure, automotive, hardware, shipbuilding, ports, power plants and refineries.
MP Steel IPO: Company Reports ₹413.41 Crore Revenue
As of March 31, 2026, MP Steel Limited reported revenue of ₹413.41 crore and Profit After Tax (PAT) of ₹15.81 crore.
The company operates a manufacturing facility in Mehsana, Gujarat, spread across approximately 80,374 square metres. Of this, approximately 32,492 square metres remains unutilised. The manufacturing facility is accredited with ISO 9001:2015.
As of March 31, 2026, the company had an installed ingot capacity of 19,151 MTPA, rolling capacity of 63,030 MTPA and bright bar capacity of 27,500 MTPA.
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MP Steel IPO Structure
According to the DRHP, the proposed MP Steel IPO comprises a fresh issue of equity shares aggregating up to ₹950 million, or ₹95 crore.
The IPO will also include an Offer for Sale of up to 2,307,290 equity shares by the Promoters.
The company has established a presence across domestic and international markets. It currently sells its products across sixteen states and three Union Territories through its traders’ network and direct sales.
MP Steel IPO: Products Exported to 21 Countries
MP Steel Limited also exports its products to 21 countries in international markets. The UAE, Germany, Turkey, Egypt, Brazil and Poland are among its major export markets.
The company proposes to utilise the net proceeds from the fresh issue towards setting up a manufacturing unit for Billets as part of its planned backward integration.
A portion of the proceeds will also be used to fund its incremental working capital requirements and for general corporate purposes.
The proposed MP Steel IPO is being managed by Monarch Networth Capital Limited, which is the sole Book Running Lead Manager to the issue. KFin Technologies Limited is the Registrar to the Offer.
