Avtar Steel (stainless-steel long & wire maker) files ₹585-cr DRHP with SEBI for IPO combining fresh issue and OFS by promoter Sumit Jindal.

IPO / ECM 14 Aug 2026· ₹585 cr (fresh issue) · Announced· ◔ Reported

Avtar Steel manufactures stainless-steel long and wire products across 150+ grades, including alloys for defence and aerospace. FY26 revenue was ₹1,263.3 crore (vs. ₹1,102.6 crore FY24); PAT nearly tripled to ₹59.1 crore; EBITDA margins expanded to 8.94%. Promoter Sumit Jindal holds 78% pre-IPO; family-held cap table with no institutional or PE seller. Book-built issue; equity to list on BSE and NSE. BRLMs: Systematix Corporate Services and Elara Capital (India); registrar: KFin Technologies.

Why it mattersPre-IPO placement window (up to 20% of fresh issue, or ₹117 cr) permitted under ICDR Regulations 2018 Regulation 42; promoter-only cap table transition to public markets in specialty metals segment highlights strategic reliance on defensive manufacturing (defence/aerospace alloys) and sticky customer base (86% repeat customers in FY26) as listing thesis.
CounselCMS INDUSLAW, Economic Laws Practice (ELP)
SectorMetals & Mining
Value₹585 cr (fresh issue)
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