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April 23, 2024
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Madhur Iron & Steel Secures 10.85 Crores in Pre-IPO Round, Garnering Support from Key Investors Including Ankit Mittal, Planify Capital, VPK Global Ventures Fund

Raipur, India – 4 April – Madhur Iron & Steel Ltd, strategically located in Bhilai, has successfully concluded its private placement funding round, raising 10.85 crores. The round saw significant participation from esteemed investors, including Ankit Mittal, Planify Capital, Rajkot-based VPK Global Ventures Fund, and Persistent Growth Fund.

Led by Jayant Aggarwal and his younger brother Umang Aggarwal, Madhur Iron & Steel is renowned for its advanced manufacturing technologies, stringent quality assurance measures, and commitment to environmental sustainability, delivering Indian and International grade Angles, Rods, Flats, and Channels, including British and American standards. The company’s dedication to excellence has positioned it as a leader in the industry, catering to the diverse needs of its esteemed clientele like PowerGrid, Zetwork, Kalpatru Power, and Indian Railways.

The successful completion of the pre-IPO funding round underscores the confidence in Madhur Iron & Steel’s business model and growth prospects. This strategic infusion of capital will fuel the company’s expansion initiatives, enhance manufacturing capabilities, and strengthen its market presence. Madhur Iron and Steel is eyeing to hit the capital markets to launch its IPO later in the year.

CEO Jayant Aggarwal expressed gratitude for the overwhelming support from investors, stating, “We are thrilled to have secured this significant investment, which reaffirms our position as a key player in the industry and propels us towards our ambitious growth objectives.”

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