M&B Engineering IPO 2025 – ₹650 Cr Issue, ₹366–₹385 Price Band, Listing & Financials
📚 Table of Contents
🏢 Company Overview
M&B Engineering Limited, established in 1981, is a Gujarat-based leader in Pre‑Engineered Buildings (PEBs) and self-supported steel roofing systems. Managed under its Phenix and Proflex divisions, the company delivers turnkey infrastructure solutions—design, engineering, fabrication, and installation—across sectors such as industrial, logistics, power, textiles, and food & beverages. As of March 2025, it had completed over 9,500 projects.([turn0search1]turn0search3])
📌 IPO Details
| Issue Size | ₹650 Crore (₹275 Cr Fresh + ₹375 Cr OFS) |
|---|---|
| Price Band | ₹366 – ₹385 per share |
| Bid Dates | 30 July – 1 August 2025 |
| Lot Size | 38 shares (≈₹14,630 at ₹385 cap) |
| Anchor Allocation | 29 July 2025 |
| Allotment Date | 4 August 2025 |
| Refund & Credit | 5 August 2025 |
| Listing Date | 6 August 2025 on NSE & BSE |
| Lead Managers | Equirus Capital & DAM Capital Advisors |
| Registrar | MUFG Intime India Pvt Ltd |
| Category Allocation | QIB 75%, NII 15%, Retail 10% |
📊 Financial Highlights
| Fiscal Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | EBITDA Margin |
|---|---|---|---|
| FY 2023–24 | ₹795.0 | ₹45.6 | ~10.0% |
| FY 2024–25 | ₹988.6 | ₹77.0 | ~12.8% |
Revenue rose 24.3%, while profit surged 68.8% YoY. Operating margin expanded significantly in FY25.([turn0search1]turn0search3])
🏗️ Manufacturing & Capacity
- Installed capacity: 103,800 MTPA for PEB
- Roofing capacity: 1.8 million sqm/year
Facilities are located in Sanand (Gujarat) and Cheyyar (Tamil Nadu), with 14 mobile units under Proflex for remote roofing deployment.([turn0search1]turn0search3])
💰 Use of IPO Proceeds
- ₹130.6 Cr – Capital expenditure (machinery, solar grid, vehicles)
- ₹5.2 Cr – IT system upgrades
- ₹58.8 Cr – Debt prepayment
- Remaining – General corporate purposes
❓ FAQs – M&B Engineering IPO
Q1. When does the IPO open and close?
Subscription opens on 30 July and closes on 1 August 2025.([turn0search1]turn0search0])
Q2. What is the price band?
The price band is ₹366 to ₹385 per share.
Q3. What is the minimum lot size?
38 shares (~₹14,630 at ₹385 cap price).
Q4. When will shares be listed?
Expected listing on 6 August 2025 on both NSE & BSE.([turn0search1]turn0search3])
Q5. Who are managing and registering the IPO?
Lead managers: Equirus Capital & DAM Capital Advisors; Registrar: MUFG Intime India Pvt Ltd.
✅ Final Verdict
M&B Engineering stands out with strong operational metrics, expanding margins, and leading market position in PEB and roofing solutions. At ₹988 Cr revenue and ₹77 Cr profit in FY25, it commands premium valuation multiples (~25–30× P/E vs peers). With healthy capacity utilisation and order book strength, the IPO presents a compelling opportunity for institutional investors and retail with medium-risk appetite. However, concentration risk and project execution delays remain concerns.
🔗 Related & Useful Links
📢 Disclaimer
This post is for educational purposes only, not investment advice. Please consult a SEBI‑registered advisor and review the official Red Herring Prospectus (RHP) before investing.
