Sky Alloys and Power Limited Files DRHP For IPO With SEBI: Check Key Issue Details
Sky Alloys and Power Limited has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on June 24, 2026 for its proposed1 00% book-built mainboard Initial Public Offering (IPO).
As per the DRHP, the 1.78 crore equity share IPO comprises a Fresh Issue of up to 1.60 crore equity shares and an Offer for Sale (OFS) of up to 0.18 crore equity shares, each with a face value of ₹10.
The OFS shares are being offered by the promoter-selling shareholders, Ravi Singhal (up to 12,04,800 shares) and Nisha Singhal (up to 6,02,200 shares). The shares are proposed for listing on the NSE and the BSE.
Specific details of the price band, lot size, Anchor Investor bidding date, and public subscription opening and closing dates are yet to be announced.
Sky Alloys and Power IPO - Issue Details
- Issue Type: Book Building IPO (Fresh Issue + OFS)
- Total Issue Size: Up to 1.78 crore equity shares
- Fresh Issue: Up to 1.60 crore equity shares
- Offer for Sale (OFS): Up to 0.18 crore equity shares
- Face Value: ₹ 10 per equity share
- Price Band: To be announced
- Lot Size: To be announced
- Listing: BSE, NSE
- Book Building Lead Managers: Gretex Corporate Services Limited and Arihant Capital Markets Limited
- Registrar: MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)
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Utilisation of IPO Proceeds
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards the following purposes:
- Funding a part of the capital expenditure requirements towards setting up a solar power project.
- Repayment and/or pre-payment of borrowings.
- General Corporate Purposes.
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About Sky Alloys and Power Limited
Incorporated in 2009, Sky Alloys and Power Limited is a steel manufacturing company headquartered in Raipur, Chhattisgarh. The company is engaged in the production of Sponge Iron, Mild Steel (MS) Billets, Ferro-Alloy products such as Silico Manganese, and TMT Bars under its flagship "SKY TMT" brand. It operates an integrated manufacturing facility in Village Temtema, Tehsil Kharsia, District Raigarh, Chhattisgarh, with captive power generation through AFBC and Waste Heat Recovery Boiler units.
As of March 31, 2025, Sky Alloys and Power employed 778 permanent employees and 250 contract workers.
Financial Performance
|
Particulars |
FY25 (in ₹ Cr.) |
FY24 (in ₹ Cr.) |
FY23 (in ₹ Cr.) |
|
Revenue from Operations |
819.24 |
629.68 |
553.63 |
|
Profit After Tax (PAT) |
53.04 |
44.96 |
37.56 |
|
EBITDA |
110.30 |
90.78 |
78.63 |
What Lies Ahead for Sky Alloys and Power IPO
SEBI will now review the DRHP and may seek additional clarifications before issuing its observations. After receiving regulatory approval, Sky Alloys and Power will file the final Red Herring Prospectus (RHP), announce the price band, and open the IPO for public subscription.
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