Steel Infra Solutions Company, backed by ace investor Madhu Kela, submitted its draft papers to SEBI to raise funds via an Initial Public Offering (IPO).
This IPO will be the combination of a fresh issue of worth ₹96 crore, and an offer-for-sale of 1.42 crore shares by the existing shareholder.
Apart from the promoters, other selling shareholders in the Offer-for-Sale include Madhusudan Kela-owned MK Ventures, Meridian Investments, Setu Securities, Flute Aura Enterprises, and Prime Securities. MK Ventures and Meridian Investments hold 21.34% and 6.61% stakes in the company.
Since its incorporation in 2017, the company has offered design, engineering, fabrication, and erection services for large infrastructure projects. Across 6 manufacturing units in India, the company has a total capacity of 1 lakh metric tonnes per year. As of 2018, the company has successfully completed 187 steel structure fabrication projects.
By FY27, the company is also planning to add 15,000 MT of manufacturing capacity in Vadodara.
The proceeds raised from the fresh issue will be used for the company’s capital expenditure requirements at Vadodara, Hyderabad, and Bhilai facilities. Some funds will be utilized for working capital requirements. Lastly, the remaining funds will be used for the company’s general corporate usage.
Atmastco, Everest Industries, Pennar Industries, and Interarch Building Products are the competitors of Steel Infra Solutions.
In FY25, the company generated a revenue of ₹636.1 crore, which went up by 10.9% if we compared it to last year. Also, the profit grew to ₹33 crore, went up by 32.7%, respectively.
The sole merchant banker handling the Steel Infra Solutions Company IPO is DAM Capital Advisors.
Steel Infra Solutions IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Steel Infra Solutions Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2023 | ₹514.29 | ₹490.59 | ₹17.53 |
| 2024 | ₹576.21 | ₹543.83 | ₹24.85 |
| 2025 | ₹639.35 | ₹595.77 | ₹32.96 |
Steel Infra Solutions IPO Valuation – FY2025
Steel Infra Solutions IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹8.12 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 16.25% |
| Net Asset Value (NAV): | ₹53.54 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Atmast co Ltd | 7.80 | 28.38 | 15.15% | 51.45 | 290.28 Cr. |
| Everest Industries Limited | (2.28) | (240.79) | (0.78%) | 291.47 | 1737.47 Cr. |
| Pennar Industries | 8.84 | 28.27 | 11.95% | 74.08 | 3263.27 Cr. |
| Interarch Building Products | 68.51 | 33.81 | 14.35% | 451.57 | 1474.47 Cr. |
Objects of the Issue
- Funding capital expenditure requirements for:
- (a) back side expansion (“Back-Side Expansion”) of manufacturing unit located in Vadodara, and
- (b) expansion (“Bay 4 Expansion”) of our manufacturing unit located in Vadodara;
- Funding capital expenditure requirements for our manufacturing units located in Hyderabad and Bhilai;
- Funding working capital requirements of our Company; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- DAM Capital Advisors Limited
