The proposed IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of up to 1.32 crore equity shares by promoters and another selling shareholder, according to the draft red herring prospectus (DRHP) filed on Sunday.
The promoters offloading shares through the OFS are C Bharanikumar, Pradeep Chandrasekaran, Prasath Chandrasekaran, Sabarinathan Anbalagan, Hari Sudhan A, Nithin Arumugam, P Anbalagan and P Arumugam, while Palaniappan Ramalingam is the other selling shareholder.
The Coimbatore-based company may also consider a pre-IPO placement of up to Rs 100 crore in consultation with the book-running lead managers. If such a placement is completed, the size of the fresh issue will be reduced accordingly.
As per market sources, the IPO size is pegged at Rs 1,100 crore to Rs 1,300 crore.
Proceeds from the fresh issue will include Rs 150 crore to part-finance capital expenditure towards the Phase-II expansion of its manufacturing facility at Mundra in Gujarat, Rs 250 crore for payment of debt, with the remaining funds to be used for general corporate purposes, the draft papers showed.Incorporated in 1987, Eswari Global Metal Industries is an integrated multi-metal and waste recycling and value-added manufacturing company engaged in recycling non-ferrous metals, plastics and e-waste.It manufactures value-added products including pure lead and lead alloys, aluminium alloys, copper ingots, tin products and plastic granules catering to industries such as battery manufacturing, automotive and industrial sectors.
The company operates nine manufacturing facilities across Karnataka and Tamil Nadu through itself and its subsidiaries, with a total installed production capacity of 165,106 metric tonnes per annum (MTPA) as of December 31, 2025.
For the nine months ended December 2025, the company reported a revenue of Rs 1,401.5 crore and a net profit of Rs 83.9 crore.
DAM Capital Advisors, ICICI Securities and Motilal Oswal Investment Advisors are the book-running lead managers to the issue, while KFin Technologies is the registrar.
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