About Maithan Ispat
Maithan Ispat is a company based in Jajpur (India) founded in 2004, and was acquired by Mesco Steel in June 2015. Secondary cast steel products are manufactured by Maithan Ispat. Maithan Ispat has raised $18.26 million across 1 funding round from investors including ORIX, IIML and Mesco Steel. The company has 238 employees. Its Indian entity De-Maithan Ispat Limited reported revenue of ₹574 Cr.
Company details
Maithan Ispat was founded in 2004 and is based in Jajpur, India. Operations are centered on the production of secondary cast steel products within the steel manufacturing sector. Facilities are maintained to support casting processes for various industrial applications. The company serves domestic markets through its established infrastructure, with a focus on quality-controlled output from the eastern Indian region.
- Headquarters Jajpur, India
- Employees 238
- Stage Acquired
- Email••••••••
- Phone•••• ••••
- Website maithanispat.com
- Social Facebook
- Acquired by Mesco Steel (Jun 2015)
- Legal Name Maithan Ispat Limited
- Date of Incorporation 27 Aug, 2003
- Jurisdiction Kolkata, West Bengal, India
- Annual Revenue₹574 Cr
FY 2025 · -22% YoY
- Net Loss-₹91.07 Cr
FY 2025 · -16% margin
- EBITDA₹36.40 Cr
FY 2025 · 6% margin
- Total Equity Funding$18.26M (USD)
in 1 rounds
- Latest Funding Round$18.26M (USD), Series A
Feb 2008
- InvestorsORIX
& 2 more
- Employee Count238
- Acquired byMesco Steel
(Jun 2015)
Associated legal entities of Maithan Ispat
Maithan Ispat operates through De-Maithan Ispat Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| De-Maithan Ispat Limited CIN U27109WB2003PLC096854 | Active | 27 Aug 2003 | Kolkata, West Bengal | ₹574 Cr | 238 | 7 | View details |
Funding Insights of Maithan Ispat
Maithan Ispat has successfully raised a total of $18.26M through 1 strategic funding round. The most recent funding activity was a Series A round of $18.26 million completed in February 2008. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $18.26M
- Total Rounds 1
- Last Round Series A — $18.26M
- First Round $18.26M
(Feb 2008)
- Investors Count 2
All 1 funding rounds of Maithan Ispat with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
3 investors in total: 3 institutional.
Investors in Maithan Ispat
Maithan Ispat has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include ORIX, IIML and Mesco Steel.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments in multiple sectors are managed via private equity. | 1989 | iimlindia.com | Mumbai, India | |
Provider of financial services | 1964 | orix.co.jp | Tokyo, Japan | |
Steel production, iron ore mining, and raw material handling in India. | 1992 | mescosteel.com | Delhi, India |
Investor details for Maithan Ispat
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Board of directors of De-Maithan Ispat Limited (Maithan Ispat)
De-Maithan Ispat Limited is the primary company behind Maithan Ispat. The board of De-Maithan Ispat Limited currently have 5 directors; the longest-serving is Shipra Singh Rana, appointed in 2016. 27 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Shipra Singh Rana DIN 00137209 | Whole-time director | 30 Mar 2016 | 10 yrs 7 mo | De-Maithan Ispat Limited |
| Nurani Shankar Parameswaran DIN 00091097 | Director | 30 Oct 2019 | 7 yrs | De-Maithan Ispat Limited |
| Amit Gupta DIN 00671413 | Director | 01 Apr 2023 | 3 yrs 7 mo | De-Maithan Ispat Limited |
| Prasant Kumar Misra DIN 03196452 | Director | 31 Aug 2024 | 2 yrs 2 mo | De-Maithan Ispat Limited |
| Amarendra Khatua DIN 08039136 | Director | 31 Aug 2024 | 2 yrs 2 mo | De-Maithan Ispat Limited |
Financials of Maithan Ispat
Figures of De-Maithan Ispat Limited, the primary company behind Maithan Ispat, for FY 2025. Revenue was ₹574 Cr (-22% year on year). Net loss was -₹91.07 Cr (-16% margin). EBITDA was ₹36.40 Cr (6% margin). Revenue has grown at a compounded annual rate of +60% over three years and +167% over five years.
- ₹574 CrRevenue · FY 2025 · -22% YoY
- -₹91.07 CrNet loss · -16% margin
- ₹36.40 CrEBITDA · 6% margin
- ₹711 CrPaid-up capital
- 238Employees (provident fund records)
- +60%Revenue CAGR, 3 years
- +167%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of De-Maithan Ispat Limited are on its company page.
Detailed financial statements for Maithan Ispat
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Timeline of Maithan Ispat
3 dated milestones of Maithan Ispat across 11 years, from founding to its latest funding, stage changes and deals.
- Founded Maithan Ispat is founded.
- Funding First funding round of $18.3M.
- Exit Acquired by Mesco Steel.
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Frequently Asked Questions about Maithan Ispat
Maithan Ispat was founded in 2004 and raised its 1st funding round 4 years after it was founded.
Maithan Ispat is headquartered in Jajpur, India. It is registered at Jajpur, Odisha, India.
Maithan Ispat is a funded company, having raised a total of $18.26M across 1 funding round to date. The company's 1st funding round was a Series A of $18.26M, raised on Feb 2008.
Maithan Ispat has 238 employees.
The primary company behind Maithan Ispat, De-Maithan Ispat Limited, reported revenue of ₹574 Cr for FY 2025, down 22% year on year.
Maithan Ispat was founded in 2004 and is based in Jajpur, India. Operations are centered on the production of secondary cast steel products within the steel manufacturing sector. Facilities are maintained to support casting processes for various industrial applications. The company serves domestic markets through its established infrastructure, with a focus on quality-controlled output from the eastern Indian region.
Maithan Ispat has 3 investors. Key investors include ORIX, IIML, and Mesco Steel.
Maithan Ispat operates through De-Maithan Ispat Limited.
Yes. Maithan Ispat was acquired by Mesco Steel in June 2015.
The legal entities of Maithan Ispat currently have 7 directors, including Nurani Shankar Parameswaran, Prasant Kumar Misra, Shipra Singh Rana and others.