Madhur Iron & Steel Files IPO to Fund Debt Repayment, Capex, Working Capital

• Madhur Iron & Steel (India) has filed a draft document with SEBI for an IPO to raise funds.
• The IPO comprises a fresh issue of 1 crore equity shares, with no offer-for-sale component.
• Funds will be used for repaying Rs 11.9 crore in borrowings, Rs 75.8 crore for a new Unit II, and Rs 35.3 crore for working capital.
• The Chhattisgarh-based company manufactures structural steel products for various industries, operating on a B2B, order-based model.
• Madhur Iron plans to expand manufacturing capacity at a new facility in Bemetara, Chhattisgarh, increasing utilization from 56,700 MT to 1,76,700 MT.

Why It Matters: Madhur Iron & Steel seeks IPO funds to clear debt, expand capacity, and boost working capital.