The listing was below grey market estimates, where shares of M&B Engineering were quoting a premium of 14.29%.
ALSO READ | NSDL shares list at 10% premium, hits day’s high of ₹920The IPO, which received a healthy subscription of 38.11 times overall. The qualified institutional buyer (QIB) segment was subscribed 38.63 times, non-institutional investors (NII) 40.22 times, and retail investors 34.36 times.
The anchor portion had earlier raised ₹291.60 crore on July 29 from institutional investors, indicating a fair level of pre-listing confidence.The ₹650 crore IPO comprised a fresh issue worth ₹275 crore and an offer for sale of ₹375 crore, with a total of 1.68 crore shares being offered to the public. Bidding took place between July 30 and August 1, and allotments were finalised on August 4.
Analysts mostly were positive on the IPO, suggesting investors to subscribe to the issue for long-term.
The fresh capital raised will go toward funding equipment and transport vehicles at manufacturing facilities, IT upgrades, debt repayment, and general corporate purposes. Proceeds from the OFS will go to the selling shareholders.
M&B Engineering operates through two business divisions—Phenix and Proflex—and offers end-to-end solutions in the pre-engineered buildings (PEB) space, including design, engineering, manufacturing, and erection.
As of March 2025, the company had completed over 9,500 projects and boasted an annual installed capacity of 103,800 metric tonnes for PEB structures and 1.8 million square metres for self-supported roofing systems.
Financially, M&B Engineering reported a 23% growth in revenue to ₹996.89 crore and a 69% jump in PAT to ₹77.05 crore in FY25 compared to the previous year. However, the company’s top line has seen some fluctuations in recent years, with FY23 revenues having dipped compared to FY22.
First Published: Aug 6, 2025 9:56 AM IS
