About Steel Infra Solutions Co. IPO
Steel Infra Solutions Company IPO Details
Steel Infra Solutions Company IPO is a 100% book-built issue comprising a fresh issue of ₹96 crore and an offer for sale (OFS) of 1.42 crore equity shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on July 18, 2025.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead manager (BRLM) of the issue is DAM Capital Advisors Ltd., while the registrar to the issue is MUFG Intime India Pvt. Ltd.
Steel Infra Solutions Company IPO Date & Timeline
Steel Infra Solutions Company Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on July 18, 2025. However, the specific Steel Infra Solutions Company IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
Steel Infra Solutions Co. IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
Steel Infra Solutions Co. IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | [.] shares (agg. up to ₹ 96 Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | - |
| Offer for Sale | 1,42,40,473 shares of ₹10 (agg. up to ₹[.] Cr) |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 40,60,39,420 shares |
| Share Holding Post Issue | - |
Steel Infra Solutions Company IPO GMP
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Steel Infra Solutions Company IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Steel Infra Solutions Company Ltd. was incorporated on October 12, 2017, as "Steel Infra Solutions Private Limited" in New Delhi and then converted into a public limited company on April 23, 2025, to begin its public listing debut procedure.
Over the years, it has transitioned from a private entity into a technically-driven integrated solutions provider, controlling the entire value chain from design and engineering to fabrication and on-site erection. This company is an integrated structural steel solutions provider in India, delivering design, engineering, fabrication and erection for large-scale infrastructure projects.
Operations & Product Range
Steel Infra Solutions Company Ltd.'s basic business model is to provide integrated services for the fabrication of steel structures by designing, engineering, manufacturing and erecting fabricated steel structures for big industrial establishments, power plants, oil and gas refineries and even bridge projects as well. The products offered are heavy steel structures like girders, columns and trusses, which serve as the bones of an industrial structure. With its integrated process, the company makes it easy for infrastructural project developers and government projects to have their steel structures built.
Facilities & Capacity
Steel Infra Solutions Company Ltd. maintains 6 production facilities in Vadodara (Gujarat), Bhilai (Chhattisgarh) and Hyderabad (Telangana). The unit established in Hyderabad started its operations in FY24 and has strengthened the presence of Steel Infra Solutions in the southern region. It is planned that the expansion of the unit in Vadodara will contribute to an additional capacity of 15,000 metric tonnes (MT) annually, which is required to meet the increasing demands and decrease lead times in major infrastructure projects.
Brands & Market Presence
Steel Infra Solutions Company Ltd. has been able to establish itself through its 'SISCOL' brand name as one of the prominent players in the sector of structural steel engineering. Its market presence is defined by its role as a pre-approved vendor for several large PSUs and major private EPC players. The involvement of the company in the energy and oil & gas sectors has helped it secure consistent orders from various industries.
Revenue Streams & Business Model
The primary source of Steel Infra Solutions Company Ltd. is generated primarily through long-term, contract-based projects involving the design and supply of fabricated steel. The company has reported a total revenue for FY25 at ₹639.3 crore, while PAT was at ₹32.96 crore, representing approximately 33% growth, with EBITDA reaching ₹66.31 crore. Revenue is diversified across EPC and PMC clients, reducing single-customer concentration risk though remaining tied to broader infrastructure capital expenditure cycles.
Management & Shareholding
The core promoter group of Steel Infra Solutions Company Ltd. includes Ravikant Uppal, Rajagopal Kannabiran, Ranjan Sharma, Surin Holdings LLP, MK Ventures and Meridian Investments. Before the IPO, the promoters and promoter group together held a 57.79% stake in the company, but after the IPO, the promoters and promoter group will face a dilution in the stakeholding as the offering includes 1.42 crore OFS by existing shareholders.
Board & Key Management
The leadership of Steel Infra Solutions Company Ltd. is led by a team of experts with many years of experience. Ravikant Uppal serves as the Chairman & Managing Director and gives strategic direction to the firm and manages the daily operations, along with Whole-Time Director Rajagopal Kannabiran. To ensure good governance, the board includes Independent Directors Praveen Mahajan, AV Kamlakar, Bontha Prasada Rao,Sunil Ramakant Bhumralkar, Samar Radheshyam Sarda and Pankaj Gautam for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
Steel Infra Solutions Co. IPO Financial Information
Latest Revenue
639.35
₹ Crore
Profit After Tax
32.96
₹ Crore
Net Worth
217.40
₹ Crore
Total Borrowing
13.58
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 494.30 | 639.35 | 32.96 | 217.40 | 176.79 | 13.58 | |||
| 31 Mar 2024 | 386.83 | 576.21 | 24.85 | 188.22 | 147.62 | 33.87 | |||
| 31 Mar 2023 | 315.50 | 514.29 | 17.53 | 137.64 | 100.92 | 40.53 | |||
| Amount in ₹ Crore | |||||||||
Steel Infra Solutions Co. Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 15.16% |
| ROCE | 23.80% |
| Debt/Equity | 0.06 |
| RoNW | 15.16% |
| PAT Margin | 5.16% |
| EBITDA Margin | 10.42% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.12 | 8.06 |
| P/E (x) | - | - |
Steel Infra Solutions Company IPO Objectives
The company plans to utilise the Steel Infra Solutions Company IPO proceeds for strategic purposes:
- • Funding the capital expenditure for the Vadodara manufacturing unit expansion
- • Repayment/Prepayment of debt (in part or in full)
- • Funding the working capital requirement
- • General corporate purposes
Steel Infra Solutions Company IPO Review
Steel Infra Solutions Company Ltd. is fundamentally tied to India's core industrial growth, providing the structural backbone for power plants and refineries in a sector benefiting from significant government and private capital expenditure. This issue aims to expand the Vadodara facility, signalling a healthy demand pipeline and preparation for larger-scale project executions.
Financially, the company has shown steady growth and healthy financial statements. For FY25, the total income was reported at ₹639.3 crore, while profit after tax (PAT) was at ₹32.96 crore. Still, the company has mentioned in its DRHP that more than 73% of the total revenue of FY25 was derived from its top customers.
However, investors must be aware of risks that include raw material price fluctuations and intensive working capital requirements of long-gestation projects, or any change in the purchase of its top/repeat customers might affect the revenue portion of the company. Overall, the IPO has shown a clear expansion plan and strengthened the financial statements with the proceeds, but still, investors should check RHP for more clarity of the issue.
Conclusion
The Steel Infra Solutions Company IPO is an opportunity for investors to invest in a growing company that follows its integrated service model and strategic manufacturing footprint. The company has established itself as a key contributor to large-scale national infrastructure. Its steady financial growth and clear expansion roadmap reflect a focused approach toward capturing the ongoing industrial boom. This issue aims to expand the manufacturing unit and to strengthen the financial papers by reducing debt and day-to-day operational expenses.
Frequently Asked Questions
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Competitive Strengths
Business model integration involves the management of every process, starting from design to installation, hence improving quality control and increasing value addition per job.
The proximity of strategic locations of its units in Gujarat, Chhattisgarh and Telangana to the industrial zones.
Vendor pre-approved for various public sector undertakings as well as other prominent EPC companies, making it tough for any competitor to join.
The third-largest fabricator of structural steel amongst Indian companies in FY25.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 11/11/2025 | - |
| 2 | Filed with SEBI/Exchange | 28/07/2025 | View DRHP |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | — | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | — | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | — | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | — | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | — | Over ₹10,00,000 |