Manaksia Coated Metals Raises Rs 150 Crore Through Fully Subscribed QIP
Kolkata, November 6, 2026: Manaksia Coated Metals & Industries Limited (MCMIL), a manufacturer and exporter of coated steel products, has raised Rs 150 crore through a fully subscribed Qualified Institutional Placement (QIP), according to a company press release. Cumulative Capital Private Limited acted as the sole book running lead manager for the issue, which saw participation from institutional investors.
The capital raise is intended to strengthen the company’s balance sheet and enhance financial flexibility to support upcoming strategic expansion projects.
“The successful completion of our Rs 150 crore QIP reflects the confidence of reputed investors in our business fundamentals and long-term growth strategy,” said Karan Agrawal, Whole Time Director, Manaksia Coated Metals & Industries Limited. “The capital raise is part of our broader financing strategy as we progress through a significant investment cycle involving capacity expansion and backward integration. We remain focused on disciplined capital allocation, strengthening our manufacturing capabilities and building a sustainable foundation for long-term growth. Supported by growing export traction and an expanding product portfolio, we remain confident of progressing towards our FY29 vision of tripling output, revenue and EBITDA.”
MCMIL is executing its growth strategy in phased developments. Under Phase 1, the company is moving toward commissioning its Second Colour Coating Line, expected to add 1,50,000 metric tonnes per annum (MTPA) and bring total pre-painted steel capacity to approximately 2,36,000 MTPA. Additionally, the company is developing a 7 MW captive solar power plant at its Kutch facility to lower energy costs and boost operational efficiencies.
Following Phase 1, the company plans to launch a backward-integration project and expand overall capacity up to 3,60,000 MTPA under Phase 2 to improve cost competitiveness and manufacturing capabilities.
During Q2 FY27, MCMIL recorded a total income of Rs 321.55 crore, EBITDA of Rs 36.91 crore, and Profit After Tax (PAT) of Rs 18.73 crore. The company reported an order book of approximately Rs 525 crore, providing revenue visibility for the coming months as it focuses on expanding its value-added product portfolio across domestic and export markets.
