- Issue price
- ₹385per share
- Issue size
- ₹650 Cr1,68,88,474 shares
- Face value
- ₹10per equity share
- Lot size
- 38 sharesMin. ₹14,630 at the upper price
- Anchor biddingTue, 2025
- OpensWed, 2025
- ClosesFri, 2025
- AllotmentMon, 2025
- ListingWed, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 71,48,215 shares (₹275 Cr)
- Offer for sale
- 97,40,259 shares (₹375 Cr)
- Total issue
- 1,68,88,474 shares (₹650 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
- Promoter holding
- 4.00% → 2.80%
Source: ProspectusUpdated
Reservation
Share of the total issue- Anchor44.8%
- QIB ex-anchor29.9%
- Big NII10.0%
- Retail10.0%
- Small NII5.0%
- Employees0.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 16,83,116 | 9.97% | 10% |
| Small NII (₹2–10 lakh) | 8,41,558 | 4.98% | — |
| Big NII (above ₹10 lakh) | 16,83,117 | 9.97% | — |
| Qualified institutional buyers (QIB) | 1,26,23,377 | 74.75% | 75% |
| QIB, excluding anchor | 50,49,351 | 29.90% | — |
| Anchor investors | 75,74,026 | 44.85% | — |
| Employees | 57,306 | 0.34% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹385 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 38 | ₹14,630 |
Source: ProspectusUpdated
Special quotas
- Employees
- ₹36 discount per share
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹15.41
- EPS (diluted)
- ₹15.41
- P/E (FY 2024-25 at upper band)
- 24.98×
- P/E (FY 2024-25 at lower band)
- 23.75×
- RoNW
- 25.14%
- NAV per share
- ₹61.31
- EBITDA margin
- 12.78%
- PAT margin
- 7.73%
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 988.55 | 795.06 | 880.47 |
| Total income | 996.89 | 808.26 | 889.00 |
| EBITDA | 126.38 | 79.62 | 66.43 |
| Profit after tax | 77.05 | 45.63 | 32.89 |
| Net worth | 306.53 | 233.03 | 180.51 |
| Reserves and surplus | 256.53 | 183.03 | 160.51 |
| Total assets | 849.21 | 633.11 | 558.79 |
| Total borrowing | 186.13 | 204.84 | 148.75 |
FY 2024-25 vs FY 2023-24: revenue +24.3%, profit after tax +68.8%.
Source: ProspectusUpdated
About the company
The company designs, manufactures and erects pre-engineered buildings and self-supported steel roofing systems on a turnkey basis for industrial and infrastructure clients. It operates manufacturing facilities in Sanand (Gujarat) and Cheyyar (Tamil Nadu) and runs its business through the Phenix and Proflex divisions.
- Incorporated
- 1981
- Industry
- Engineering and Construction
- Sector
- Building Materials
- CIN
- U45200GJ1981PLC004437
- Website
- mbel.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Umaben Girishbhai Patel | Promoter group | 4.00% | 2.80% | 4,00,000 |
| Girishbhai Manibhai Patel | Selling shareholder | 38.98% | 27.13% | 39,83,119 |
| Chirag Hasmukhbhai Patel | Selling shareholder | 34.99% | 24.69% | 33,83,116 |
| Birva Chirag Patel | Selling shareholder | 10.00% | 7.00% | 10,00,000 |
| Vipinbhai Kantilal Patel | Selling shareholder | 5.00% | 3.52% | 4,87,012 |
| Aditya Vipinbhai Patel | Selling shareholder | 5.00% | 3.52% | 4,87,012 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure for equipment, machinery, building works, solar rooftop and vehicles at manufacturing facilities | 130.58 |
| IT software upgradation | 5.20 |
| Repayment or prepayment of certain term loans | 58.75 |
| General corporate purposes | 80.47 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| M & B Engineering LimitedIssuer | ₹15.41 | — | 25.14% | ₹61.31 |
| Pennar Industries Limited | ₹8.84 | 25.23× | 11.96% | ₹73.99 |
| Bansal Roofing Products Limited | ₹4.2 | 28.39× | 16.71% | ₹25.13 |
| BirlaNU Limited | -₹43.63 | — | -2.72% | ₹1,606.51 |
| Everest Industries Limited | -₹2.28 | — | -0.60% | ₹377.13 |
| Interarch Building Products Limited | ₹68.51 | 33.69× | 14.35% | ₹451.56 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Among India's larger pre-engineered building players by stated installed capacity.
- Turnkey offering covering design, manufacturing, supply and erection.
- Diversified customer base across industrial and infrastructure sectors with an order book of ₹8,428.38 million as of June 30, 2025.
- Two manufacturing facilities plus a fleet of 14 mobile roofing units.
- Revenue and profit grew over the three years shown, with net worth rising from FY 2022-23 to FY 2024-25.
Risks
- Business depends heavily on the Sanand and Cheyyar manufacturing facilities, with disruption risks from machinery breakdowns, labour issues and other factors.
- Majority of revenue comes from pre-engineered buildings, so lower demand for PEBs would hurt results.
- Four deaths at project sites in the past and three at mobile unit sites raise safety and operational risks.
- Customers impose strict quality standards and performance requirements, with possible liquidated damages and guarantee invocations.
- Contingent liabilities of ₹1,033.10 million as of March 31, 2025 and pending litigation could affect financial condition.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹385) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the M & B Engineering IPO open and close?
According to the Prospectus, the issue opens on Wednesday, 30 July 2025 and closes on Friday, 1 August 2025.
What is the M & B Engineering IPO price band?
The final issue price is ₹385 per share.
What is the lot size of the M & B Engineering IPO?
One lot is 38 shares, which is ₹14,630 at ₹385 per share.
Where will M & B Engineering shares list?
On NSE and BSE. The tentative listing date is Wednesday, 6 August 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the M & B Engineering IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 4 August 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹130.58 Cr for capital expenditure for equipment, machinery, building works, solar rooftop and vehicles at manufacturing facilities, ₹5.2 Cr for iT software upgradation, ₹58.75 Cr for repayment or prepayment of certain term loans, ₹80.47 Cr for general corporate purposes.
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