M&B Engineering IPO opens July 29: GMP, listing date and other key details

M&B Engineering, a company known for its steel roofing and pre-engineered building solutions, is set to launch its ₹650 crore initial public offering (IPO) on Wednesday, July 30. The issue comes amid a busy week in the primary market, with IPOs of NSDL and Sri Lotus Developers also opening the same day, and ongoing offers from Laxmi India Finance and Aditya Infotech entering their second day.Here are the key details to know about the M&B Engineering IPO:

Timeline:

The IPO will open for subscription on July 30 and close on August 1. The allotment is likely to be finalised by August 4, with shares expected to list on stock exchanges on August 6.
Price band and issue structure: The price range for the IPO is fixed at ₹366 to ₹385 per share. The total issue size is ₹650 crore, comprising a fresh issue worth ₹275 crore and an offer for sale (OFS) of ₹375 crore by existing shareholders. Equirus Capital and DAM Capital are the book-running lead managers for the issue. MUFG Intime India has been appointed as the registrar.Lot Size and investment: Retail investors can bid in lots of 38 shares, requiring a minimum investment of ₹13,908 at the upper end of the price band. Of the total offer, 75% is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors.

Grey Market Premium (GMP): The IPO is commanding a grey market premium of ₹34 per share. Based on this, the listing could occur at around ₹419 per share, indicating a potential 9% gain over the issue price.

Company Overview: 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. 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.

Industry Outlook: The Indian pre-engineered buildings industry has witnessed strong growth, expanding at a CAGR of 8.3% between FY19 and FY25, from ₹130 billion to ₹210 billion, according to a CRISIL report. The self-supported roofing segment grew at 6.1% annually over the same period, reaching ₹3 billion in FY25.