India’s steel sector is entering a high-velocity phase of primary market activity. Over the next eight to ten months, at least 10 steel producers and related entities are set to launch IPOs. These companies aim to raise between **₹5,000 crore** and **₹7,000 crore**. The momentum is supported by a robust domestic demand outlook. For the 2025-26 period, steel consumption in India is projected to grow by **9%** to **10%**. This outpaces the global demand forecast, which remains muted at roughly **1.2%**. Market activity is picking up as of February 2026. Domestic steel indices show a steady uptrend, with the BigMint India Steel Composite Index recently rising **1.7%**. This reflects higher mill prices and improving sentiment as the fourth quarter of the fiscal year begins. Key prices have seen upward revisions to counter rising input costs. Primary mills have hiked rebar prices by up to **₹3,000** per tonne. Hot-rolled coil (HRC) trade prices currently hover around **₹53,800** per tonne, while cold-rolled coil (CRC) is priced near **₹59,400** per tonne. The industry is undergoing a massive capacity expansion. India’s crude steel production capacity has already hit **205 million tonnes (MT)**. Major players are driving this further, with the national goal set at **300 MT** by 2030. Government intervention is a critical driver for this growth. A **12% safeguard duty** introduced in December 2025 has helped protect domestic manufacturers from cheap imports. Additionally, the Production Linked Incentive (PLI) scheme has attracted committed investments of over **₹27,100 crore** for specialty steel. Infrastructure and defense remain the primary consumers. However, newer segments like electric vehicles and renewable energy are emerging as major demand drivers for high-grade steel. Listed steel stocks are reflecting this positive environment. In mid-February 2026, shares of leaders like Tata Steel and JSW Steel gained up to **2%** in a single session. Many top-tier steel stocks have outperformed the broader benchmark indices by **7%** to **16%** over the last month. Expansion remains the priority for capital use. Tata Steel alone has committed **₹15,000 crore** in capital expenditure for the 2025-26 fiscal year. These funds are being directed toward scaling production and modernizing plants to meet stricter environmental standards. While global conditions remain volatile, the Indian steel market is decoupling from international slowdowns. Tighter inventory levels at primary mills—down nearly **40%** month-on-month in early February—suggest a supply-side crunch that could sustain price levels in the near term.