Bedi Steels Limited, a manufacturer and supplier of high-quality steel and alloy ingots under the "Bedi" brand, today announced the filing of its Draft Red Herring Prospectus (DRHP) with the BSE SME platform. The company plans to raise capital through an Initial Public Offering (IPO) comprising a fresh issue of 18,24,000 equity shares, each with a face value of ?10. Khambatta Securities Limited is the Book Running Lead Manager for the IPO, and Bigshare Services Private Limited is the Registrar to the offer.
The IPO proceeds will be strategically deployed. Bedi Steels intends to utilise ?33.31 crore for meeting the company's working capital requirements. The remaining capital will support general corporate purposes, facilitating Bedi Steels' continued growth and expansion.
Operating from a state-of-the-art 13,750 square yard manufacturing facility in Doraha Village, Ludhiana, Punjab, Bedi Steels specializes in producing a diverse range of steel and alloy ingots. These ingots, essential "mother products," serve as the foundation for manufacturing various metal products like sheets, rods, bars, and wires. The company boasts the capability to produce over 150 grades of ingots, with major grades including SUP-9, 27MNCRB5, EN-18, EN-31, EN-45A, 20MNCR5, SAE8620, H13, EN24, and 31CRV3.
To further enhance its value chain, Bedi Steels is undergoing forward integration by establishing a rolling mill in Ludhiana. This mill, with a capacity of 70,000 tonnes per annum, will enable the production of Round Bar, RCS/Square Bars, Hex Bars, and Flat Bars, with production slated to commence in April 2025.
In the first half of the current financial year ending September 30, 2024, Bedi Steels reported revenue from operations of ?105.52 crore and a profit (PAT) of ?4.19 crore. For the full financial year 2024, the company achieved revenue from operations of ?168 crore and a profit (PAT) of ?6.58 crore.
Led by experienced promoters Mr. Mahesh Gupta, Mr. Prayank Gupta, Mrs. Sarita Gupta, and Mrs. Khushboo Gupta, Bedi Steels emphasizes quality assurance. The company utilizes advanced spectrometer devices to analyze raw material composition and has a dedicated quality control team. |
