IPO Details

Bidding Dates

26 Sep '25 - 30 Sep '25

Minimum Investment

₹2,37,000 / Lots (3,000 Shares)

Price Range

₹75 – ₹79

Maximum Investment

₹2,37,000 / Lots (3,000 Shares)

Retail Discount

To be announced

Issue Size

₹25.74 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

M P K Steels IPO Important Dates

Important dates with respect to IPO allotment and listing

Opening Date

Sep 26, 25

Closing Date

Sep 30, 25

Basis of Allotment

Oct 01, 25

Initiation of Refunds

Oct 03, 25

IPO Listing Date

Oct 06, 25

IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 25, 2025

 0.18 0.01 0.06

About M P K Steels IPO

The M P K Steels (I) Ltd. IPO is a book-built issue raising ₹25.74 crore, consisting entirely of a fresh issue of 0.33 crore shares. The IPO will open for subscription on September 26, 2025, and close on September 30, 2025, with allotment expected on October 1, 2025. The shares are proposed to be listed on the BSE SME, with a tentative listing date of October 6, 2025.

The IPO price band is ₹75 to ₹79 per share, with a lot size of 1,500 shares. Retail investors can apply for a minimum of 3,000 shares, requiring an investment of ₹2,37,000 at the upper price, while HNI investors must apply for a minimum of 4,500 shares (3 lots), amounting to ₹3,55,500.

Gretex Corporate Services Ltd. is the book running lead manager, Maashitla Securities Pvt. Ltd. is the registrar, and Gretex Share Broking Pvt. Ltd. is the market maker for the issue.

Industry Outlook

  1. India is the second-largest steel producer globally, with ~95% of production consumed domestically. While access to cheaper domestic iron ore is an advantage, higher logistics and manufacturing costs partially offset it.
  2. The Indian steel industry prioritises domestic demand due to global oversupply and highly competitive international markets. With low per capita steel consumption (~93 kg vs. the global average of 219 kg), there is significant growth potential within India.
  3. India turned into a net steel importer in fiscal 2024, with strong domestic demand offsetting weak export markets. US tariffs on steel imports have minimal impact, though potential safeguard duties may support domestic capacities.
  4. The Indian steel market is projected to grow from 148.28 million tons in 2025 to 230.03 million tons by 2030, at a CAGR of 9.18%. India’s crude steel production in FY23 reached 125.32 million tons, with finished steel at 121.29 million tons.
  5. Strategic acquisitions, such as JSW Steel’s scrap recycling facility and Jindal Stainless’s stake in Jindal United Steel, are driving vertical integration, operational efficiency, and sustainable growth.
  6. Despite strong production, the sector faces high logistics costs, low per capita consumption, and competition from cheaper imports, affecting international competitiveness.
  7. Investments in green steel, energy-efficient production, and new plant capacities (e.g., AM/NS India’s USD 4.7 billion Odisha plant) highlight the industry’s focus on sustainable growth.
  8. Long-term initiatives like the National Steel Policy 2017, PLI Scheme (₹6,322 crore), DMI & SP Policy, and Mission Purvodaya aim to expand domestic capacity, enhance quality, and develop integrated steel hubs, targeting a crude steel capacity of 300 MTPA by 2030-31.

M P K Steels IPO Objectives 

The company proposes to utilise the net proceeds from the IPO for the following objectives: 

  1. Use of IPO proceeds to expand production capacity, improve efficiency, diversify products, and support growth.
  2. ₹265.43 lakh for new machinery, die end rolls, and 11 additional machines to boost output and reduce costs.
  3. ₹700 lakh for solar plant installation to optimise energy use and support sustainability.
  4. ₹918 lakh for working capital, including inventory, raw materials, and operational expenses (₹200 lakh for FY26, ₹718 lakh for FY27).
  5. Remaining funds for general corporate purposes, capped at 15% of gross issue proceeds or ₹10 crore.

About M P K Steels Limited 

M P K Steels (I) Ltd., incorporated in 2005, is a manufacturer of structural steel products catering to industries such as railways, telecom, power, automotive, construction, fabrication, offshore structures, and infrastructure development. 

The company produces and trades a wide range of steel products including M.S. Channels, Beams, Angles, Squares, Rounds, and Flats, with M.S. Channels being the primary revenue contributor. Its factory, located at A-195, RIICO Industrial Area, Jaipur, benefits from strong market connectivity and employs a mix of skilled and unskilled staff, including engineers and professionals. 

The company’s products serve diverse applications: M.S. Channels for industrial sheds, machinery, vehicle chassis, and railway bridges; M.S. Angles for building frames, bridges, roof trusses, and security structures; and M.S. Flats for metalwork, furniture, gates, structural reinforcement, and automotive parts. 

M P K Steels has a wide distribution network across Rajasthan, Punjab, West Bengal, Gujarat, Haryana, Uttar Pradesh, Assam, and Madhya Pradesh. Its competitive strengths include dual plant operations at a single location, a broad range of dies for different steel measurements, a strong brand with long-term customer relationships, and strict quality assurance and control processes.

How To Check the Allotment Status of the M P K Steels IPO?

Steps to check IPO allotment status on Angel One’s app: 

  1. Log in to the Angel One app. 
  2. Go to the IPO Section and then to IPO Orders. 
  3. Select the individual IPO that you had applied for and check the allotment status. 
  4. Angel One will notify you of your IPO allotment status via push notification and email. 

How To Apply for M P K Steels IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials. 
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
  3. Select IPO: Find and select the M P K Steels IPO from the list of open IPOs. 
  4. Enter the Lot Size: Specify the number of lots you want to bid for. 
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

Contact Details of M P K Steels IPO 

Registered Office: M P K Steels (I) Ltd.

House No. 87,

Rajgarh Road, Silpukhuri,

Kamrup, GMC

Kamrup, Assam, 781003

Phone: +91 86960 00318

Email: info@mpksteels.com

Website: http://www.mpksteels.com

M P K Steels IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the Net Issue

Retail Shares Offered

Not less than 35% of the Net Issue

NII Shares Offered

Not less than 15% of the Net Issue

M P K Steels IPO Lot Size

Application

Lots

Shares

Amount

Individual investors (Retail) (Min)

2

3,000

₹2,37,000

Individual investors (Retail) (Max)

2

3,000

₹2,37,000

S-HNI (Min)

3

4,500

₹3,55,500

S-HNI (Max)

8

12,000

₹9,48,000

B-HNI (Min)

9

13,500

₹10,66,500

M P K Steels IPO Promoter Holding

The promoters of the company are Manoj Upadhyay, Suresh Kumar Sharma, Nidhi Upadhyay, Santosh Devi Sharma, along with M/s. Suresh Kumar Sharma and Sons HUF and M/s. Manoj Kumar Upadhyay HUF.

Share Holding Pre-Issue 

97.82% 

Share Holding Post Issue

NA 

Key Performance Indicators for M P K Steels IPO

KPI

Values

ROE (%)

28.55

ROCE (%)

19.32

Debt/Equity

0.76

RoNW (%)

24.98

PAT Margin (%)

2.93

EBITDA Margin (%)

4.21

Price to Book Value

2.26

M P K Steels IPO Prospectus

M P K Steels IPO Registrar and Lead Managers

M P K Steels IPO Lead Managers

  • Gretex Corporate Services Ltd.

Registrar for M P K Steels IPO

Maashitla Securities Pvt.Ltd.

  • Phone: +91-11-45121795-96

Financial Performance of M P K Steels Limited

Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023
Assets (₹ crore) 62.36 56.64 45.67
Total Income (₹ crore) 208.03 189.17 138.85
Profit After Tax (₹ crore) 6.05 3.11 1.81
EBITDA (₹ crore) 8.69 3.28 1.91
Net Worth (₹ crore) 24.23 18.18 15.07
Reserves & Surplus (₹ crore) 17.31 14.72 11.61
Total Borrowing (₹ crore) 18.48 13.94 14.54

Know before investing

Strengths

8

  1. Dual plant operations at a single location enhance production flexibility, efficiency, and cost optimisation.

  2. An extensive range of specialised dies allows precise manufacturing, catering to diverse customer requirements.

  3. Well-established brand with long-term distributor relationships ensures repeat business and strong market presence.

  4. Rigorous quality assurance and an in-house laboratory maintain high product standards, building customer trust.

  5. Core values of innovation, customer focus, integrity, and social responsibility drive sustainable growth and operational excellence.

  6. Expansion plans aim to increase production capacity to meet rising market demand, improving sales and profitability.

  7. Strengthening brand value and expanding dealership network enhances market penetration and customer reach.

  8. Geographic and product diversification provides access to new markets and broaden the product portfolio.

Risks

8

  1. High dependence on a few suppliers for raw materials; disruption or loss of any major supplier could affect operations and revenue.

  2. Significant revenue concentration from top 10 customers; loss of any major customer could impact financial performance.

  3. No long-term supply agreements; fluctuations in raw material availability or prices may increase costs and delay production.

  4. Working capital intensive operations; insufficient cash flows or borrowing constraints could adversely affect business and growth.

  5. Manufacturing facility disruptions, including equipment failure, power outages, labour disputes, or regulatory actions, may impact production and profitability.

  6. Past one-time loan settlement (OTS) may affect future creditworthiness and access to funds from banks and financial institutions.

  7. Underutilisation of current manufacturing capacity may limit profitability and cash flow if sales and production volumes do not increase.

  8. Negative cash flows from operations, investing, or financing activities in past years may affect future growth and financial stability.

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M P K Steels Limited Peer Details Comparison

Company EPS (₹) PE Ratio RONW (%) Revenue from Operations (₹ in lakhs)
M P K Steels (I) Limited 8.74 NA 24.98% 20,658.20
Rathi Bars Limited 1.57 21.92 2.65% 49,628.82
Mangalam World Wide Limited 10.57 15.58 11.67% 1,06,070.94

M P K Steels IPO FAQs

What is the M P K Steels IPO?

M P K Steels IPO is a book-built issue of ₹25.74 crore. The IPO will open for subscription from September 26, 2025, to September 30, 2025.

When will the M P K Steels IPO be allotted?

The Basis of Allotment is expected to be finalised on Wednesday, October 01, 2025.

When will the M P K Steels IPO open for subscription?

The IPO subscription window will open on Friday, September 26 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size for retail individual investors is 2 lots, or 3,000 shares, amounting to ₹2,37,000 at the upper price band. For HNI investors, the minimum subscription is 3 lots (4,500 shares), totaling ₹3,55,500. 

When will M P K Steels Limited list on exchanges?

M P K Steels Limited is tentatively scheduled to list on BSE SME on Monday, October 6, 2025.

What is the issue size of the M P K Steels IPO?

The issue size of the M P K Steels IPO is ₹25.74 crore, consisting entirely of a fresh issue of 33 lakh equity shares.

What are the open and close dates of the M P K Steels IPO?

The M P K Steels IPO will open on September 26, 2025, and close on September 30, 2025.

What would be the listing gains on the M P K Steels IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a M P K Steels IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the M P K Steels IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of M P K Steels Limited using one PAN?

You can submit only one application using your PAN card.

How to read M P K Steels Limited's financial statements?

To read M P K Steels ‘s financial statements, download the IPO’s RHP document.

What is 'pre-apply' for M P K Steels Limited IPO?

Pre-apply allows investors to apply for the M P K Steels IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the M P K Steels Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my M P K Steels Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of M P K Steels IPO?

Maashitla Securities Pvt.Ltd. is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the M P K Steels IPO getting listed?

M P K Steels Limited IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE SME).