Avtar Steel Ltd., a stainless-steel long and wire products manufacturer, has filed IPO papers with SEBI to raise INR 585 crore to fund specialty steel expansion, wire capacity enhancement, and debt repayment.

Aug 26, 2026

Avtar Steel Ltd. has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise INR 585 crore through an initial public offering (IPO). The proposed issue will also include an offer for sale of 50 lakh shares by promoter Sumit Jindal.

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The fresh issue proceeds will primarily support the establishment of a new Specialty Steel Melting Division for manufacturing alloy steel, carbon steel, valve steel, and stainless-steel blocks and blooms. The company also plans to expand stainless-steel wire manufacturing at its existing Wire Rod and Bar Division, while allocating a portion of the proceeds towards debt repayment and general corporate purposes.