DRHP filed for Madhur Iron & Steels Mainboard IPO

Madhur Iron & Steel (India) Limited has filed its Draft Red Herring Prospectus (DRHP) with SEBI on January 23, 2026, proposing an initial public offering of up to 1,00,00,000 equity shares through a 100% book-built process. The IPO comprises entirely of a fresh issue of equity shares with no offer for sale component, indicating that all proceeds will be used to fund the company’s growth and balance sheet requirements.

The issue is being undertaken under Regulation 6(1) of the SEBI ICDR Regulations, as the company has a consistent track record of profitability, reporting a net profit of ₹18.12 Crores in Fiscal 2025 and ₹12.5 Crores in Fiscal 2024. As a result, the IPO represents a profitability-backed offering rather than a purely growth-oriented listing, with investor interest likely driven by the company's financial stability and operational expansion in the steel sector. The equity shares are proposed to be listed on both BSE and NSE.

Incorporated in 2012, Madhur Iron & Steel operates in the steel manufacturing and trading space, primarily catering to the infrastructure, construction, power transmission, and railway sectors. Headquartered in Bhilai, Chhattisgarh, the company manufactures structural steel products such as angles, channels, flats, and rods, and also engages in the trading of steel products to offer comprehensive solutions to its institutional customers. Its promoter is Jayant Agrawal.

The proceeds from the IPO are proposed to be utilised primarily towards financing capital expenditure for setting up a new manufacturing facility, Proposed Unit II (₹75.8 Crores), funding working capital requirements (₹35.3 Crores), and repayment or prepayment of outstanding borrowings (₹11.9 Crores). The substantial allocation towards capacity expansion highlights the company's focus on scaling its manufacturing capabilities to meet growing market demand.