Eswari Metal Industries Files IPO Draft: ₹1,300 Crore Raise Planned for Expansion and Debt Prepayment

Eswari Metal Industries Files IPO Draft: ₹1,300 Crore Raise Planned for Expansion and Debt Prepayment​

Integrated Metal Manufacturer Seeks Massive Capital Infusion via SEBI Filing​

Coimbatore-based Eswari Global Metal Industries Ltd has taken a significant step toward scaling its operations by filing draft papers with the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO). This move aims to raise substantial capital needed for manufacturing expansion and crucial debt management.

The comprehensive IPO structure involves both a fresh issue of shares and an Offer For Sale (OFS) component, signaling confidence from existing stakeholders in the company's future trajectory. The total estimated size of the offering is between ₹1,100 crore and ₹1,300 crore.

Structure of the Eswari Metal IPO​

The proposed IPO includes a fresh issue worth ₹500 crore. This capital will be strategically allocated to support operational growth and balance sheet strengthening. The remaining portion of the IPO comprises an OFS, allowing existing shareholders and promoters to participate in the funding process.

Existing stakeholders including C Bharanikumar, Pradeep Chandrasekaran, Prasath Chandrasekaran, Sabarinathan Anbalagan, Hari Sudhan A, Nithin Arumugam, P Anbalagan and P Arumugam are among those whose shares are being offered for sale in the IPO.

Funds Utilisation Focuses on Expansion and Debt Reduction​

Eswari Global Metal Industries plans to utilise ₹150 crore from the fresh issue to partially finance the capital expenditure for Phase 2 expansion. This expansion involves a manufacturing facility located at Mundra, Gujarat. Additionally, the company intends to use ₹250 crore towards prepayment of its existing debt obligations.

As of December 2025, the company had total outstanding debt standing at ₹379.75 crore. The planned debt reduction through the IPO demonstrates a clear focus on improving financial health and strengthening the balance sheet.

Company Profile: A Leader in Sustainable Metal Recycling​

Incorporated in 1987, Eswari Global Metal Industries operates as an integrated multi-metal and waste recycling and value-added manufacturing company. The organization specializes in producing high-value non-ferrous metal products derived from recycled materials and e-waste scrap.

Its product portfolio is diverse and includes pure lead and lead alloys, aluminium alloys, copper ingots, tin products, and various plastic granules. These goods cater to a wide array of end-use industries both domestically and internationally.

Operational Scope and Financial Performance Review​

The company sources non-ferrous metals, plastic, and e-waste scrap from domestic and international suppliers. It executes environmentally responsible recycling operations through its nine manufacturing facilities across Karnataka and Tamil Nadu.

As of December 31, 2025, the combined installed production capacity across these facilities was reported at 165,106 metric tonnes per annum. Recycling is a core function, transforming scrap into valuable products like copper ingots and aluminium alloys.

For the first nine months ended December 2025, Eswari Global Metal Industries recorded a revenue of ₹1,401.5 crore and achieved a net profit of ₹83.9 crore. This performance indicates solid operational health within the recycling and manufacturing space.

Market Integrity: Book Runners and Registrars​

The market integrity of this significant offering is supported by established financial entities. DAM Capital Advisors, ICICI Securities, and Motilal Oswal Investment Advisors have been appointed as the book-running lead managers for the IPO. KFin Technologies has been designated as the registrar for the issue.