Mittal Sections IPO will open for subscription on 7 October 2025 and close on 9 October 2025. The allotment is scheduled on 10 October and the listing is expected on 14 October 2025 on the BSE SME platform. The company aims to raise about ₹52.91 crore through a fresh issue.
This IPO comes with a price band of ₹136 to ₹143 per share. Retail investors get 35% reservation, QIBs 50%, and HNIs 15%.
Investors looking for SME opportunities may find this issue interesting because of the company’s improving profit trend and expansion plan.
Contents
- Mittal Sections IPO Overview
- Mittal Sections IPO Market Lot
- Mittal Sections IPO
- Mittal Sections IPO Reservation Structure
- Promoters and Shareholding Pattern
- About Mittal Sections Limited
- Mittal Sections Financial Performance
- Mittal Sections IPO Valuation (FY2025)
- Lead Manager and Registrar
- Mittal Sections IPO FAQs
- Expert Comment
Mittal Sections IPO Overview
The table below gives all the key IPO details at a glance.
Mittal Sections IPO Details
| Particular | Details |
|---|---|
| IPO Open Date | 7 October 2025 |
| IPO Close Date | 9 October 2025 |
| Face Value | ₹10 per share |
| IPO Price Band | ₹136 to ₹143 per share |
| Issue Size | Approx ₹52.91 crore |
| Fresh Issue | Approx ₹52.91 crore |
| Issue Type | Book Built Issue |
| Listing | BSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
| Basis of Allotment | 10 October 2025 |
| Refunds | 13 October 2025 |
| Credit to Demat | 13 October 2025 |
| Listing Date | 14 October 2025 |
| Cut-off Time | 9 October 2025, 5 PM |
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- Anantam Highways InvIT IPO
Mittal Sections IPO Market Lot
Below is the lot-size information that helps investors decide the minimum investment amount.
Market Lot and Investment Requirement
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 lots | 2,000 shares | ₹2,86,000 |
| Retail Maximum | 2 lots | 2,000 shares | ₹2,86,000 |
| S-HNI Minimum | 3 lots | 3,000 shares | ₹4,29,00 |
Mittal Sections IPO
Open: 7-9 Oct 2025
Issue Size: ₹52.91 Cr.
Objective: Fund company expansion, working capital requirements, and partly clear off secured debt.
Exchange: BSE SME
Mittal Sections IPO Reservation Structure
This section explains category-wise share allocation.
Reservation Breakup
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| Anchor Investors | – | – |
| QIB (Ex-Anchor) | 1,85,000 | 5% |
| NII | 16,65,000 | 45% |
| Retail | 16,65,000 | 45% |
Here is the pre-issue and post-issue promoter holding.
Shareholding
| Particular | Shares | Share % |
|---|---|---|
| Promoter Holding Pre-Issue | 78,67,500 | 99.92% |
| Promoter Holding Post-Issue | 1,15,67,500 | 67.95% |
Promoters include Abhiraj Singh Bhal, Raghav Chandra, and Varun Khaitan.
Objects of the Issue
The company plans to use the IPO proceeds for key business purposes. The breakup is given below.
Utilisation of Funds
| Purpose | Amount (₹ crore) |
|---|---|
| Land acquisition, factory construction, and purchase of machinery | 20.89 |
| Working capital requirements | 15.00 |
| Repayment or prepayment of secured borrowings | 5.00 |
| General corporate purposes | – |
About Mittal Sections Limited
Mittal Sections Limited manufactures basic iron and steel products. The company specialises in mild steel items like flat bars, round bars, angles and channels. These products are used widely in construction and industrial applications.
The company operates two manufacturing units in Changodar, Ahmedabad, with a current capacity of 36,000 MTPA. It plans to scale the capacity to 96,000 MTPA using the IPO funds.
The company highlights strong industry relationships, a stable customer base, and an experienced management team.
Mittal Sections Financial Performance
The financial table below summarises the company’s performance over the years.
Financials (₹ in crore)
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 167.53 | 166.77 | 0.56 | 33.37 |
| 2024 | 161.65 | 159.05 | 1.89 | 29.04 |
| 2025 | 137.07 | 131.92 | 3.61 | 45.42 |
| May 2025 | 28.17 | 26.12 | 1.47 | 50.48 |
Despite a decline in revenue, PAT has improved steadily, indicating better efficiency.
Mittal Sections IPO Valuation (FY2025)
The table below summarises the IPO valuation metrics.
Key Valuation Metrics
| KPI | Value |
|---|---|
| ROE | 34.92% |
| ROCE | 31.27% |
| EBITDA Margin | 5.69% |
| PAT Margin | 2.64% |
| Debt-to-Equity Ratio | 2.04 |
| EPS (Basic) | ₹4.59 |
| P/E Ratio | N/A |
| RoNW | 34.92% |
| NAV | ₹13.15 |
Peer Comparison
Here is how Mittal Sections compares with listed peers.
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Rhetan TMT Ltd | 0.06 | 328.00 | 5.27% | 1.18 | ₹38.74 crore |
| Riddhi Steel & Tube Ltd | 9.15 | 9.28 | 10.53% | 7.91 | ₹393.94 crore |
| Surani Steel Tubes Ltd | 0.38 | 123.00 | 0.46% | 78.36 | ₹227.39 crore |
Lead Manager and Registrar
Merchant Banker
Wealth Mine Networks Pvt. Ltd.
Company Address
Mittal Sections Ltd.,
01, Sona Roopa Apartment,
Opp. Lal Bunglow, C.G. Road,
Navrangpura, Ahmedabad – 380009
Phone: +91-79-26465484
Email: info@mittalsections.com
Registrar
Bigshare Services Pvt. Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Mittal Sections IPO FAQs
What is Mittal Sections IPO?
It is a SME IPO worth ₹52.91 crore, priced at ₹136 to ₹143 per share.
When does the IPO open?
The IPO opens on 7 October 2025 and closes on 9 October 2025.
What is the investors’ quota?
QIB: 50%, NII: 15%, Retail: 35%.
How can investors apply?
Investors can apply via ASBA through their bank or through UPI using stockbroker apps.
What is the lot size?
The minimum lot size is 2,000 shares costing ₹2,86,000.
What is the allotment date?
Allotment will be finalised on 10 October 2025.
What is the listing date?
The IPO is expected to list on 14 October 2025 on BSE SME.
Expert Comment
Mittal Sections shows a clear improvement in profitability despite revenue fluctuations, which indicates better cost control. The expansion plan supported by IPO funds could strengthen future revenues.
However, the high debt-to-equity ratio and SME platform listing mean investors should consider this IPO mainly with a long-term perspective.
