M P K Steels (I) Limited IPO

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M P K Steels (I) Limited, incorporated in 2005, is a leading manufacturer of general-purpose structural steel products. The company serves diverse industries including railways, telecom, state electricity boards, power & energy, automotive, offshore structures, construction, fabrication, and infrastructure development authorities.

Business Operations

The company specializes in high-quality structural steel solutions, employing energy-efficient and resource-efficient production technologies to ensure strong, reliable, and sustainable products. Over two decades, M P K Steels has grown significantly by leveraging advanced manufacturing processes, technology-driven operations, and a strong focus on customer satisfaction.

Products

M P K Steels produces a wide range of structural steel products, including:

1. M.S. Channel – Widely used in construction, power, railway, and fabrication sectors.

2. M.S. Joist/Beam – Structural support for buildings and industrial frameworks.

3. M.S. Angle, Square Bar, Round Bar, Flat – Versatile steel components for industrial and infrastructural applications.

The company’s ductile steel allows creation of standardized shapes for various construction and industrial requirements.

Manufacturing Facility

The company operates a factory on the Delhi-Mumbai Highway at Bagru, Jaipur, Rajasthan, covering 10,393.75 sq. meters. The facility employs skilled and unskilled staff, engineers, and technical personnel, supported by a strong network of distributors and dealers across India.

Customer Base

The company serves a diversified clientele across railways, telecom, power & energy, automotive, construction, fabrication, and infrastructure sectors. Long-standing relationships with customers, distributors, and dealers help drive repeat business and sustain growth.

Objects of the M P K Steels (I) Limited IPO:

Company intends to utilize the Net Fresh Offer Proceeds for the following Objects : i. Capital Expenditure towards purchase of Machinery & Dies (₹2.65 cr) ii. Capital Expenditure towards installation of Solar Plant (₹ 7 cr) iii. To meet Working Capital Requirements (₹9.18 cr) iv. General Corporate Purposes
DRHP of M P K Steels (I) Limited IPO
RHP of M P K Steels (I) Limited IPO

M P K Steels (I) Limited IPO Details:

Open Date: Sep 26 2025
Close Date: Sep 30 2025
Total Shares: 32,58,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 25.74 Cr.
Lot Size: 1500 Shares
Issue Price: ₹ 75-79 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 06 2025

Promoters And Management:

1. Mr. Suresh Kumar Sharma – Promoter and Chairman since January 20, 2025, with 20 years of experience in the steel industry. He oversees business strategy, resource optimization, long-term planning, and community engagement. 2. Mr. Manoj Upadhyay – Promoter, Managing Director (since Nov 12, 2024) and CFO (since Nov 1, 2024), MBA from University of East London, with 19 years in the steel industry. He manages daily operations, business development, capital management, and supplier/customer relations, driving significant revenue growth. 3. Mrs. Nidhi Upadhyay – Promoter and Non-Executive Director since Nov 12, 2024, BA (Honours) from Banasthali Vidyapith. She contributes to long-term business planning, policy recommendations, operational organization, and building company-community relationships.

Financials of M P K Steels (I) Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 206.58 186.60 137.54
EBITDA (Cr) 8.69 3.27 1.9
EBITDA Margins 4.21% 1.76% 1.39%
PAT (Cr) 6.05 3.1 1.8
PAT Margins 2.93% 1.67% 1.31%
ROCE 19.32% 8.93% 5.47%
Debt to Equity Ratio(In Times) 0.76 0.77 0.96
Operating Cash Flows (Cr) -13.98 1.68 -3.54

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
M P K Steels (I) Limited 206.58 4.21% 2.93% 19.32% 0.76 80.43 13.29
Rathi Bars Limited 496 3% 0.60% 5.91% 0.85 50 14.6
Mangalam Worldwide Limited 1,060 5% 3.21% 14% 0.77 700 22.1

Lead Manager of M P K Steels (I) Limited IPO:

  1. Gretex Corporate Services Private Limited

Registrar of M P K Steels (I) Limited IPO:

  1. Maashitla Securities Pvt. Limited.

Discussion on M P K Steels (I) Limited IPO:

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