Steel Infra Solutions Prepares for IPO to Fuel Expansion

Steel Infra Solutions Company has initiated the process of capital raising by filing preliminary papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). This move marks a strategic step in the company's expansion plan, which includes a blend of fresh equity worth Rs 96 crore and an offer-for-sale of 1.42 crore shares.

The company aims to utilize the proceeds from the equity issuance for the expansion of its manufacturing units in Vadodara, Hyderabad, and Bhilai. Additionally, the funds will cater to the company's working capital requirements and other general corporate purposes. With a robust infrastructure, SISCOL operates six manufacturing units with a substantial capacity and boasts a clientele that includes industry giants like Tata Steel and Adani Power.

As of the fiscal year ending March 31, 2025, SISCOL reported an impressive 11% increase in revenue, reaching Rs 636 crore. The profit after tax saw a surge of 32.67%, hitting Rs 33 crore. DAM Capital Advisors will play a pivotal role as the sole book-running lead manager for the issue.

(With inputs from agencies.)