Steel Infra Solutions Company has filed preliminary papers with capital markets regulator Sebi seeking its approval to raise funds through an initial public offering.
The initial public offering is a combination of fresh issue of equity shares worth Rs 96 crore and an offer-for-sale of 1.42 crore equity shares, according to the draft red herring prospectus filed on Monday.
Proceeds from the fresh issue will be used for expansion of manufacturing facilities located in Vadodara, Hyderabad and Bhilai, working capital requirements of the company, and for general corporate purposes.
Overall, the company operates six manufacturing units with four units in Bhilai, Chhattisgarh, one each in Vadodara, Gujarat and Hyderabad, Telangana, with an installed capacity of 1,00,000 MTs as of March 31, 2025.
Steel Infra Solutions Company Ltd is an integrated structural steel solutions provider for large-scale infrastructure projects. Some of its customers include Tata Steel, Tata Project, L&T Group entities, Jindal Stainless, Adani Power, Shapoorji Pallonji & Company, Afcons Infrastructure and ArcelorMittal Nippon Steel India.
As on March 31, 2025, SISCOL's order book stood at Rs 811 crore. The company's revenue from operations increased by 11% to Rs 636 crore in fiscal 2025 against Rs 573.5 crore a year ago, and profit after tax rose by 32.67 % to Rs 33 crore for fiscal 2025 from Rs 25 crore in the year-ago period.
DAM Capital Advisors is the sole book-running lead manager to the issue.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
