BSE SME Mittal Sections' debut turns brittle

Mittal Sections was trading at Rs 108.70 on the BSE, a discount of 23.99% compared with the issue price of Rs 143.

The scrip was listed at Rs 114.40, a discount of 20% over the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 114.40 and a low of Rs 108.70. About 14,000 shares of the company changed hands at the counter.

Mittal Sections' IPO was subscribed 2.19 times. The issue opened for bidding on 7 October 2025 and it closed on 9 October 2025. The price of the IPO was fixed between Rs 136 to Rs 143 per share.

The IPO comprised a fresh issue of 37,00,000 equity shares. The promoter and promoter group shareholding diluted to 67.96% from 99.92% pre-issue.

The company intends to utilize the net proceeds for capital expenditure towards the acquisition of land, construction of a factory building and purchase of plant and machinery; to meet working capital requirements; for full or partial repayment or prepayment of certain outstanding secured borrowings availed by the company and for general corporate purposes.

Mittal Sections is a leading manufacturer of an extensive range of mild steel sections and structural steel products, including MS flat bars, MS round bars, MS angles, and channels. It produces products in different grades, such as E250A, offering versatility to meet the diverse needs of clients across multiple industries. The sizes provided cover a wide spectrum, allowing for customized solutions in both small-scale and large-scale construction and industrial projects. As of 31 July 2025, the company had a total of 51 employees on a payroll basis.

The company recorded revenue from operations of Rs 28.15 crore and net profit of Rs 1.47 crore for the period ended 31 May 2025.

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