India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
India’s steel and steel-linked companies are lining up for the primary market, with an IPO pipeline expected to pick up over the next 8–10 months. Industry estimates suggest at least 10 players could collectively raise around ₹5,000–₹7,000 crore, as mid-sized producers and processors look to fund the next phase of growth and strengthen balance sheets.
The fundraising focus is largely on capacity additions—including greenfield lines, galvanising units, colour-coating facilities, and stainless steel expansion—along with working capital needs that typically rise with higher throughput.
The momentum is being supported by stronger demand visibility from infrastructure and manufacturing activity, alongside policy measures that encourage domestic production. A key theme investors will watch is capital discipline: how efficiently companies deploy fresh equity while keeping leverage under control in a historically cyclical sector.At the same time, risks remain—steel price swings, volatile coking coal costs, import competition, and global demand shocks can quickly pressure margins. For issuers, the winners in the public market are likely to be those that pair expansion with prudent balance-sheet management and clear product positioning in value-added steel.
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