Mittal Sections was incorporated on November 01, 2006. The company is a leading manufacturer of Mild Steel sections and structural steel products such as Flat Bars, Round Bars, Angles, and Channels, produced under BIS standards (IS 2062:2011). Marketed under the brand “MSL-MITTAL,” its products are known for quality, durability, and reliability across diverse industrial and construction applications
| Bidding Dates |
|---|
| 07 Oct 2025 - 09 Oct 2025 |
| Subscription |
|---|
| 2.19x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,72,000 | 2 | 2 | 1000 | 3.7 M | ₹136 - ₹143 | 67.96 % | ₹503.2 M - ₹529.1 M | RHP DOC |
Mittal Sections IPO SUBSCRIPTION STATUS
09 Oct '25Mittal Sections IPO overall subscription rate was 2.19 times the total available shares
Mittal Sections IPO retail subscription rate was 5.25 times in the retail segment
Mittal Sections IPO non-institutional investor subscription rate was 1.99 times in the non-institutional investor category
Mittal Sections IPO Qualified Institutional Bidder subscription rate was 0.11 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
09 Oct 2025 (Day 3) | 5.25x | 1.99x | 0.11x |
08 Oct 2025 (Day 2) | 3.98x | 1.42x | 0.08x |
07 Oct 2025 (Day 1) | 2.84x | 1.06x | 0.08x |
Mittal Sections FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 2MFY26 | 28.2 | 1.5 | 0.7 | 0.7 | 8.8% |
| FY25 | 136.9 | 3.6 | 0.1 | -0.7 | 5.69% |
| FY24 | 161.5 | 1.9 | 0.5 | 0.2 | 3.4% |
| FY23 | 167.2 | 0.6 | -4.3 | -5.2 | 2.0% |
Mittal Sections IPO SUBSCRIPTION STATUS DETAILS
Mittal Sections had 3.7 M shares on offer
Mittal Sections IPO offer price was in the range ₹136 - ₹143
Mittal Sections IPO minimum Investment was ₹272000
Mittal Sections IPO issue size was ₹ 503.2 M - ₹ 529.1 M
Mittal Sections had a minimum lot size of 1000 Shares per application
Mittal Sections NUMBER OF SHARES ON OFFER
Mittal Sections IPO IMPORTANT DATES
| Issue Open Date | 07 Oct 2025 |
| Issue close Date | 09 Oct 2025 |
| Allotment Date | 10 Oct 2025 |
| Refund Date | 13 Oct 2025 |
| Demat Account Credit Date | 13 Oct 2025 |
| Listing Date | 14 Oct 2025 |
| Listing on Exchange(s) | BSE |
| Mittal Sections Allotment Status | Exchange/ Registrar |
Mittal Sections IPO subscription opened on 07 Oct 2025, and closed on 09 Oct 2025
IPO allotment for Mittal Sections was finalized on Friday, 10 Oct 2025
IPO listing for Mittal Sections was on BSE on Tuesday, 14 Oct 2025
Mittal Sections IPO LISTING GAINS
| Issue Price (adjusted) | 143.0 |
| Listing Open Price | 114.4 |
| Listing Close Price | 108.7 |
| Listing Gain% | -20.0% |
| Current Gain% | -81.0% |
Mittal Sections Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mittal Sections Ltd. | 27.2 | 31.4 | 9.1 | -2.1 | 0.2 | 6 | 3.5 | 149.4 | 9 | 3.5 | -4.3 | 3 | -4.3 |
| APL Apollo Tubes Ltd. | 1970 | 54698.7 | 44.5 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1839.8 | 48532.2 | 21 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 515 | 15695.7 | 31 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 35.2 | 13768.5 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2693.5 | 6106.9 | 21.4 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Mittal Sections INFORMATION ON IPO ISSUE
About Mittal Sections
Mittal Sections was incorporated on November 01, 2006. The company is a leading manufacturer of Mild Steel sections and structural steel products such as Flat Bars, Round Bars, Angles, and Channels, produced under BIS standards (IS 2062:2011). Marketed under the brand “MSL-MITTAL,” its products are known for quality, durability, and reliability across diverse industrial and construction applications
Object of the Issue
- To capital expenditure towards acquisition of land, construction of factory building and purchase of plant & machineries
- To meet working capital requirements
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company
- General corporate purpose, subject to applicable laws
Mittal Sections - PROMOTERS
| Name |
|---|
| Ajaykumar Balwantrai Mittal |
| Atul Balwantrai Mittal |
| Well Plan Tradelink Private Limited |
Mittal Sections - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ajaykumar Balwantrai Mittal | Chairman & Managing Director |
| Atul Balwantrai Mittal | Whole Time Director & CFO |
| Sushiladevi Balwantrai Mittal | Non-Executive and Non-Independent Director |
| Aishwarya Singhvi | Non-Executive and Independent Director |
| Dhruvi Shyam Kapadia | Non-Executive and Independent Director |
Mittal Sections Book Running Lead Manager
Wealth Mine Networks Private Limited
info@wealthminenetworks.com
Mittal Sections Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Mittal Sections Strengths
Strong customer base
The company has built a strong and loyal customer base, earning approval and trust from major manufacturers and organisations across India. Its consistent focus on quality, timely delivery, and reliable service has led to long-term relationships and significant repeat business, reinforcing its position as a preferred and trusted brand in the steel industry
Understanding of customers requirements
The company’s strength lies in understanding customer needs and delivering products that meet precise technical requirements such as tensile strength, bending schedules, and tolerances. Acting as reinforcement partners, the company ensures the timely delivery of quality materials aligned with construction schedules, helping customers maintain smooth, delay-free operations
Diverse product portfolio
The company offers around 55 SKUs of structural steel products, including Mild Steel Flat Bars, Round Bars, Angles, and Channels, serving diverse industry needs. Its wide product range and customisation options enable it to effectively meet evolving customer demands and capitalise on growth opportunities
Mittal Sections Risks
Labour intensive
Being a labour-intensive business, the company relies heavily on its workforce for smooth production. Strikes, lockouts, or other labour disruptions could halt operations, delay deliveries, increase costs, and harm reputation
High volume-low margin business
The company’s profitability depends on its ability to grow turnover and efficiently manage key business processes such as procurement, sales execution, and cost control. Failure to do so could reduce operating results, affect debt servicing, and weaken financial condition
Steel price fluctuations
The company’s business and margins are exposed to the steel industry’s price volatility, which is influenced by raw material costs, demand-supply dynamics, imports, and economic cycles. Declines in steel prices or reduced demand could adversely impact revenue, profitability, and financial condition
IPO FAQs
The promoters of the company are Ajaykumar Balwantrai Mittal, Atul Balwantrai Mittal and Well Plan Tradelink Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 136.0 - 143.0.
The IPO application opens on Oct 07, 2025 and closes on Oct 09, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 272,000.0, the maximum value for this IPO is Rs 286,000.0.
This IPO will be allotted on Oct 10, 2025.
The refund will be credited to your account on Oct 13, 2025.
The allotted shares will be credited to your demat on Oct 13, 2025.
Mittal Sections Ltd.’s shares listed on the stock exchanges on Oct 14, 2025.