Yogiji Digi Limited IPO

    Summary:


    This overview of the Yogiji Digi IPO has been prepared by Bajaj Broking based on the disclosures made in the DRHP. Yogiji Digi Limited is an integrated flat steel processing equipment manufacturer based in Palwal, Haryana. It offers turnkey solutions across cold rolling and downstream steel processing. The proposed IPO pairs a Fresh Issue of up to ₹270 crore with an OFS of up to 7,171,290 equity shares. Listing is proposed on BSE and NSE. Net Proceeds will mainly fund working capital and debt repayment. Growth in flat steel demand and planned capacity additions across the steel industry may continue to support demand for the company's equipment. This is per the CRISIL Report cited in the DRHP. The risk side deserves equal attention too. Dependence on steel sector capital expenditure, execution risk, rising borrowings and geographic concentration are each disclosed in the DRHP. These remain the points to watch.

    Yogiji Digi IPO: DRHP Filed for Proposed Public Issue

    Cold rolled steel starts as a raw coil. It passes through several stages before it becomes the finished sheet used in cars, appliances and construction. Yogiji Digi Limited builds the machinery for those stages. The Draft Red Herring Prospectus (DRHP) describes the company as an integrated flat steel processing equipment provider. It designs, manufactures and supplies equipment for cold rolling and downstream steel processing. The Yogiji Digi IPO brings this equipment maker to the public markets for the first time.

    The company filed its DRHP, dated 20 July 2026, with SEBI. The Yogiji Digi IPO pairs a Fresh Issue of up to ₹270 crore with an Offer for Sale (OFS) of up to 7,171,290 equity shares. Listing is proposed on both BSE and NSE. Emkay Global Financial Services Limited and Systematix Corporate Services Limited will manage the book. Bigshare Services Private Limited acts as registrar.

    A DRHP carries the details investors look for. This includes the business model, promoters, financials and risks. This article sets out the key facts in simple terms.

    IPO Details

    The table below highlights the key details of the public issue available in the DRHP. The price band, lot size and issue dates are yet to be announced. The Yogiji Digi IPO combines fresh capital for the business with an exit route for select existing shareholders.

    ParticularsDetails
    IPO TypeBook Built Issue
    IPO Open DateTo be announced
    IPO Close DateTo be announced
    Face Value₹10 per equity share
    Price BandTo be announced
    Lot SizeTo be announced
    Fresh IssueUp to ₹270 crore
    Offer for SaleUp to 7,171,290 equity shares
    Listing ExchangeBSE and NSE

    As an Upcoming IPO, the price band, lot size, and subscription dates have not been announced. This IPO will move to the next stage once SEBI completes its review of the DRHP and the company files the RHP.

    Nine selling shareholders participate in the OFS. Promoters Navneet Singh, Sameer Bansal and Satish Kumar Tripathi offer up to 261,870, 332,430 and 283,500 equity shares, respectively. Promoter group entities Navneet Gill (HUF) and Samir Bansal HUF offer up to 305,130 and 518,070 shares. Four other selling shareholders, including S Gupta Family Enterprises Private Limited, offer the balance. None of the OFS money reaches the company. It goes to the selling shareholders after offer expenses and taxes.

    From the Net Proceeds of the Fresh Issue, ₹140 crore is earmarked for working capital. A further ₹45 crore is set aside for repayment or pre-payment of certain borrowings, with the balance kept for general corporate purposes. A Pre-IPO Placement of up to ₹39 crore may also be considered. If completed, the Fresh Issue shrinks by that amount.

    Reservation follows the standard book-built pattern under Regulation 6(1) of the SEBI ICDR Regulations. Qualified Institutional Buyers can take not more than 50% of the offer. Retail individual bidders can take not less than 35%, and non-institutional bidders not less than 15%. Price band, lot size and dates will follow closer to the issue opening.

    About the Company

    Company Background

    The company was originally incorporated as Digi Drives Private Limited on 27 September 1993. It was renamed Yogiji Digi Private Limited with a fresh certificate dated 27 October 2022. A further certificate dated 13 March 2025 marked its conversion into a public limited company under its present name. The registered office sits at Sector 58, Faridabad, Haryana.

    The DRHP names three promoters: Navneet Singh, Sameer Bansal and Satish Kumar Tripathi. Together they hold a pre-issue stake of 45.27%. As of 31 May 2026, the company had 280 employees.

    Business Overview

    Yogiji Digi offers end-to-end turnkey solutions for cold rolling and downstream steel processing. Its equipment range spans Cold Rolling Mills, Pickling Lines, Annealing and Pickling Lines, and Metal Coating Lines for galvanised and galvalume products. It also covers Colour Coating Lines, Skin Pass Mills and Acid Regeneration Plants, along with electrical and automation solutions, spares, and revamp and retrofitting services.

    Operations run from three manufacturing units in Palwal, Haryana. These units have integrated design, engineering, fabrication, machining and assembly capabilities. Backward integration allows in-house manufacturing of critical components. The company says this supports quality control, cost efficiency and timely project execution. It also holds strategic technology partnerships for Zinc Magnesium coating lines and automotive-grade galvanising technologies.

    Revenue Model

    Revenue comes from designing, manufacturing, and supplying steel processing equipment and lines. Customers include domestic and international steel manufacturers, who also buy associated spares, components, and revamp and retrofitting services. This covers both greenfield project requirements and upgrades to existing plants.

    Industry Position

    The CRISIL Report cited in the DRHP identifies Yogiji Digi Limited as an integrated flat steel processing equipment manufacturer in India. Its design, fabrication and automation capabilities sit under one roof. This supports its role as a turnkey solutions provider, rather than a supplier of standalone equipment.

    Investors tracking this space closely may also wish to check the Yogiji Digi allotment status once the issue timeline is announced, to follow how the company's shares are allocated.

    IPO Allotment Status

    Once the issue opens and closes, investors will be able to check the Yogiji Digi IPO allotment status through the registrar's website using their application number, PAN or Demat account details, once the allotment date is announced along with the rest of the issue timeline.

    Industry Overview

    India's crude steel capacity stood at around 195 to 200 million tonnes as of Fiscal 2025, according to the CRISIL Report cited in the DRHP. Between Fiscals 2025 and 2030, Indian steel makers are expected to add approximately 70 to 80 million tonnes of new capacity. This would take total capacity to around 270 to 280 million tonnes by Fiscal 2030. India recorded a crude steel production CAGR of over 10% between 2020 and 2025.

    Flat steel demand is the segment most relevant to Yogiji Digi's equipment. It expanded at a CAGR of 7.88% between Fiscals 2020 and 2026. Over Fiscals 2026 to 2031, it is projected to grow at 7 to 9% a year. Global finished steel demand is expected to grow at 2.80 to 3.30% a year between CY2025 and CY2030, supported by demand from markets outside China.

    Key factors supporting the industry include:

    • Planned capacity additions by domestic steel producers to meet rising demand.

    • Growth in flat steel demand from infrastructure, automotive and allied sectors.

    • Government initiatives supporting electrical steel grades used in EV motors and magnets.

    • A shift towards higher value, lower carbon flat steel products.

    • Rising demand for galvanised and coated steel products across construction and consumer applications.

    Equipment demand in this sector still depends on capital expenditure cycles at steel producers, which can move with input costs and broader industrial activity.

    Company Financials

    The table below presents the restated financial information of the company for the last three fiscals.

    Period Ended (₹ crore)31 Mar 202631 Mar 202531 Mar 2024
    Assets644.28445.84360.15
    Total Income633.62483.67401.06
    Profit After Tax40.4228.0419.93
    EBITDA67.7150.5330.47
    Net Worth210.01169.3179.61
    Reserves and Surplus153.30166.6177.72
    Total Borrowing190.0990.5158.70

    Strengths of Yogiji Digi Limited

    The points below cover the main areas the DRHP identifies as supporting the company's market position in the steel processing equipment segment. These range from its integrated equipment portfolio and end-to-end turnkey capabilities to its backward integration, technology partnerships and experienced management team. Each point draws directly on the disclosures made in the draft prospectus.

    1. Integrated flat steel processing equipment manufacturer

    The company positions itself as an established manufacturer in this segment. Its product range covers the full cold rolling and downstream processing chain.

    2. End-to-end turnkey capabilities

    In-house design, engineering, manufacturing, and automation support delivery of complete processing lines, rather than standalone machines.

    3. Diversified customer base

    The equipment portfolio serves both domestic and international steel manufacturers. This reduces reliance on any single customer or geography.

    4. Backward integration

    In-house manufacturing of critical components supports quality control, cost efficiency and timely project execution, the company states.

    5. Technology partnerships and management experience

    Strategic partnerships for Zinc Magnesium coating lines and automotive-grade galvanising technologies support the company's position in advanced steel processing. An experienced management team adds to this.

    Risks Associated with the Business

    Dependence on steel sector capital expenditure

    Demand for the company's equipment is tied to capacity expansion and modernisation spending by steel producers. This can slow during periods of weak steel demand or pricing.

    Customer concentration in a cyclical industry

    The steel industry is cyclical. A slowdown in orders from key customers could affect revenue, since equipment orders tend to be large and infrequent per customer.

    Execution risk on turnkey projects

    Turnkey equipment and line supply contracts carry execution risk. Project delays or cost overruns could affect margins on individual contracts.

    Rising borrowings alongside growth

    Total borrowing rose from ₹58.70 crore in Fiscal 2024 to ₹190.09 crore in Fiscal 2026, alongside the growth in assets and revenue.

    Geographic concentration in manufacturing

    All three manufacturing units sit in Palwal, Haryana. Disruptions at this one location could affect production across the whole business.

    Reliance on technology partnerships

    Certain capabilities, such as Zinc Magnesium coating line technology, rely on strategic partnerships. These are not wholly owned intellectual property.

    Key Things Investors May Consider

    Before evaluating the Yogiji Digi IPO, investors may consider the following:

    • The position of the company as an integrated flat steel processing equipment manufacturer.

    • The issue structure, with a Fresh Issue of up to ₹270 crore and an OFS of up to 7,171,290 equity shares.

    • The proposed use of Net Proceeds, mainly towards working capital and debt repayment.

    • Steady revenue and profit growth alongside rising borrowings across the reported fiscals.

    • The dependence on capital expenditure cycles in the steel industry.

    • The geographic concentration of manufacturing in Palwal, Haryana.

    • The growth outlook for flat steel demand as per the CRISIL Report cited in the DRHP.

    • Execution risk associated with turnkey equipment and line supply contracts.

    Disclaimer :

    Investments in securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.


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    Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



    This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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    Publish Date: 28 Jul 2026

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