In order to establish itself as a household name, Maruti Ispat & Pipes Private Limited intends to diversify its business across other segments and hold an initial public offering (IPO) in FY26. It further plans to expand its outreach to the Northern and Eastern regions of the country. By investing INR 2,000 crore, MIPPL plans to expand its capacities by 6 lakh MTPA over the next five years.

Jul 3, 2024

Maruti Ispat & Pipes Private Limited (MIPPL), a subsidiary of MS Agarwal Group and a leading steel manufacturer in the country, has announced an investment of INR 2,000 crore to expand its capacities by 6 lakh MTPA over the next five years.

As per a release issued by MIPPL, the Hyderabad-based company has launched MS VAYU, a new brand it will use to sell ERW steel pipes in the market. The company intends to diversify its business across other segments as part of its strategic plans and also intends to hold an initial public offering (IPO) in FY26.

Maruti Ispat is an ISO & BIS certified company with operations spread across Southern, Central and Western regions. To further solidify its position in the market and expand swiftly to the Northern and Eastern regions of the country, it will extend its manufacturing facilities to new regions.

MIPPL has always been committed to producing quality products, hence, the manufacturing unit has been equipped with modern facilities and a competent R&D team to produce quality pipes, sponge iron, ERW steel pipes and billets from its 300 acre plant in Mantralayam, Kurnool, Andhra Pradesh.

With a goal of sustainability and future growth, Maruti Ispat is currently producing 8 MW-WHRB of power and plans to produce over 90 percent of its energy from clean, renewable sources like wind and solar. The business also intends to boost its energy production with alternative fuels usage for waste reduction.

Mr. Abhishek Agarwal, CEO of Maruti Ispat & Pipes Private Limited, expressed his enthusiasm for the company’s future, stating, “Our goal is to strengthen our position in the steel industry and increase market presence by providing high-quality products to our customers with a sight on IPO. Our efforts to expand in Northern states like J&K, Punjab, Uttarakhand and Eastern states of West Bengal and Odisha will greatly contribute to this goal.The ongoing plant and capacity expansion is expected to generate additional employment for the next five years. Additionally, we are actively pursuing acquisition opportunities”

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He also highlighted the company’s commitment to innovation, saying, “We are currently producing ERW steel pipes and planning to launch new product lines of galvanised pipes and galvanised hot dip iron and galvalume pipes. These new products will cater to the growing demand in the market and significantly contribute to our growth. We are a company driven by growth and innovation and focus on building a modern product portfolio with diversification in steel and power.”