M&B Engineering IPO Price: ₹366 to ₹385 per share
IPO Dates: 30th July 2025 – 1st August 2025
Company Overview
Incorporated in 1981, M&B Engineering Limited has been engaged in the business of Pre-Engineered Buildings (PEBs) and self-supported steel roofing solutions in India. The company has specialized in providing design-led manufacturing services, covering design, engineering, production, and testing to deliver safe, reliable, and high-performance structures. Over the years, it has catered to various industries including general engineering, manufacturing, food & beverages, warehousing, logistics, power, textiles, and railways.
Manufacturing Capabilities
M&B Engineering operates two strategically located manufacturing facilities—one in Sanand, Gujarat (operational since 2008), and the other in Cheyyar, Tamil Nadu (started in 2024). Together, they offer a combined annual capacity of 103,800 MTPA for PEB production. The company has also expanded globally by exporting PEBs and structural steel components to 22 countries since FY 2010, including the USA, Brazil, South Africa, Qatar, Sri Lanka, Morocco, Nigeria, Kenya, and Seychelles.
Divisions and Services
- Phenix Division: This division offers end-to-end manufacturing solutions for PEBs, encompassing design, engineering, and production using advanced software and equipment to ensure quality and cost-efficiency.
- Proflex Division: Through this division, the company manufactures and installs self-supported steel roofs using mobile units deployed at client sites. These units facilitate on-site panel production, seaming, and installation once the civil structure is completed.
Together, the Phenix and Proflex divisions have executed over 9,500 projects up to Fiscal 2025.
Product Portfolio
Phenix Division Products: Includes primary structural components such as frames and columns, secondary components like purlins and girts, claddings using pre-painted galvalume (PPGL), and standing seam roofing systems with different coating options.
Proflex Division Products: Includes roofing systems integrated with Reinforced Cement Concrete (RCC) structures, steel structures, and L section roofing designs.
Competitive Strengths
- Recognized as one of the leading players in India’s PEB industry by installed capacity, with a growing international presence and market leadership in self-supported roofing.
- Offers a wide array of specialized products and services, making it a one-stop solution provider for structural engineering needs.
- Maintains strong client relationships across multiple sectors, supported by an order book of ₹8,428.38 million as of June 30, 2025.
- Operates with strategically located facilities and robust in-house design and engineering capabilities, along with 14 mobile units dedicated to self-supported roofing installation.
Bidding Starts In
M&B Engineering IPO Specifics:
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | Wednesday, August 6 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹366 to ₹385 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 1,68,83,116 shares (aggregating up to ₹650.00 Cr) |
| Fresh Issue | 71,42,857 shares (aggregating up to ₹275.00 Cr) |
| Offer For Sale | 97,40,259 shares (aggregating up to ₹375.00 Cr) |
| Employee Discount | ₹36 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,00,00,000 shares |
| Share Holding Post Issue | 5,71,42,857 shares |
M&B Engineering IPO Timetable (Important Dates)
| IPO Open Date | Wednesday, July 30 2025 |
| IPO Close Date | Friday, August 1 2025 |
| Basis of Allotment | Monday, August 4 2025 |
| Initiation of Refunds | Tuesday, August 5 2025 |
| Credit of Shares to Demat | Tuesday, August 5 2025 |
| Listing Date | Wednesday, August 6 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2025 |
M&B Engineering IPO Lot Size
Bidders have the opportunity to bid for a minimum of 38 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,630 |
| Retail (Max) | 13 | 494 | ₹1,90,190 |
| S-HNI (Min) | 14 | 532 | ₹2,04,820 |
| S-HNI (Max) | 68 | 2584 | ₹9,94,840 |
| B-HNI (Min) | 69 | 2622 | ₹10,09,470 |
M&B Engineering IPO Reservation
| QIB Shares Offered | Not more than 75% of the Net offer |
| Retail Shares Offered | Not less than 10% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
M&B Engineering Limited IPO Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 849.21 | 633.11 | 558.79 |
| Revenue | 996.89 | 808.26 | 889 |
| Profit After Tax | 77.05 | 45.63 | 32.89 |
| EBITDA | 126.38 | 79.62 | 66.43 |
| Net Worth | 306.53 | 233.03 | 180.51 |
| Reserves & Surplus | 256.53 | 183.03 | 160.51 |
| Total Borrowing | 186.13 | 204.84 | 148.75 |
Key Performance Indicator – M&B Engineering IPO
| KPI | Values |
|---|---|
| Market Cap | ₹2200 Cr |
| EPS | 15.41 |
| P/E (x) | 24.98 |
| ROE | 25.13% |
| ROCE | 24.80% |
| PAT Margin | 7.73% |
| RoNW | 25.14% |
| EBITDA Margin | 12.78% |
Objects of the Issue:
The net proceeds from the M&B Engineering IPO will be primarily directed towards strengthening its operational capabilities and financial position. The company has outlined the following key objectives for the utilisation of funds raised through this public issue:
1. Capital Expenditure for Manufacturing Facilities
A major portion of the proceeds, approximately ₹130.58 crores, will be used to fund capital expenditure requirements. This includes the purchase of advanced equipment and machinery, necessary building works, installation of a solar rooftop grid, and procurement of transport vehicles for the company’s manufacturing units. These investments are expected to enhance production efficiency and support future growth.
2. Investment in IT Infrastructure
To support digital transformation and operational automation, the company will invest ₹5.20 crores in the upgradation of its IT software systems. This step aligns with the company’s long-term strategy of strengthening its technological backbone.
3. Debt Reduction
M&B Engineering also plans to allocate ₹58.75 crores from the IPO proceeds for the repayment or pre-payment, in full or in part, of existing term loans. This will help improve the company’s debt profile, reduce interest outgo, and enhance financial flexibility.
4. General Corporate Purposes
The remaining funds will be used for general corporate purposes, which may include working capital needs, brand building, strategic initiatives, and other operational expenses aimed at supporting the overall growth of the business.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
