Madhur Iron & Steel File DRHP For IPO , New DRHP File Today | What Investors Should Know

Madhur Iron & Steel (India) Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on 23 January 2026 , marking an important step towards entering the capital markets. The proposed Initial Public Offering (IPO) is entirely a fresh issue and is aimed at supporting the company’s next phase of growth.

Here is a detailed and easy-to-understand breakdown of the key information disclosed in the DRHP.

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About the Company

Madhur Iron & Steel (India) Limited is a structural steel manufacturer and trader with more than 13 years of operating experience. The company primarily caters to business-to-business (B2B) customers and follows an order-based operating model. The company mainly serves domestic institutional and industrial customers across infrastructure and engineering sectors.

Madhur Iron & Steel is engaged in the manufacturing and trading of structural steel products, including:

• Angles

• Channels

• Mild Steel (MS) Sections

• Flats and Rods

Its products are used across multiple end-use industries such as:

• Railway electrification

• State electricity boards

• Power and energy infrastructure

• Telecom tower manufacturing

• Construction and real estate

• Automotive and ancillary units

• General engineering and fabrication

Before 2018, the company was involved in trading and fabrication of ferrous, non-ferrous, and alloy materials. Recognizing long-term opportunities in manufacturing, the company restructured its business model and entered the structural steel manufacturing segment.

In 2019, Madhur Iron & Steel commenced rolling mill operations at its Bhilai facility.

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DRHP and IPO Details

• DRHP Filing Date: January 23, 2026

• Issue Type: 100% Fresh Issue

• Offer for Sale (OFS): Not Applicable

• Face Value: ₹10 per equity share

Issue Size

• Fresh Issue: Up to 1,00,00,000 equity shares

• Total Issue Size: Final amount to be determined

Since there is no OFS, all IPO proceeds will go to the company.

Promoter Information

• Promoter: Jayant Agrawal

The promoter will continue to retain control post listing, indicating a long-term commitment to the business.

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Allocation Structure

As per the DRHP, the IPO allocation will follow standard SEBI norms:

• QIBs (Qualified Institutional Buyers): Not more than 50% of the offer size

  • 5% of the Net QIB portion reserved for mutual funds

• Non-Institutional Investors (NIIs): Not less than 15%

• Retail Individual Investors (RIIs): Not less than 35%

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Listing:-

Proposed Listing:

• BSE Limited

• National Stock Exchange of India Limited (NSE)

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Book Running Lead Manager (BRLM):

Share India Capital Services Private Limited

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Registrar to the Issue

Bigshare Services Private Limited

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Objects of the Issue

The company plans to utilize the net proceeds from the IPO for:

1. Repayment or prepayment of borrowings
   Reduction of existing debt to strengthen the balance sheet.

2. Capital expenditure for Proposed Unit II
   Setting up a new manufacturing unit to enhance production capacity.

3. Working capital requirements
   Supporting operational needs and future growth.

General corporate purposes
For overall business and strategic requirements.

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SEBI’s observations on the DRHP will be the next crucial step before the IPO opens for subscription.

 

Also Read – Kanohar Electricals IPO Files DRHP with SEBI, Check Offer Structure and Use of Funds

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