IPO Details

Bidding Dates

30 Jul '25 - 01 Aug '25

Minimum Investment

₹14,630 / 1 Lot (38 Shares)

Price Range

₹366 – ₹385

Maximum Investment

₹14,630 / 1 Lot (38 Shares)

Retail Discount

To be announced

Issue Size

₹650.00 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Employees  |  

M&B Engineering IPO Important Dates

Important dates with respect to IPO allotment and listing

Opening Date

Jul 30, 25

Closing Date

Aug 01, 25

Basis of Allotment

Aug 04, 25

Initiation of Refunds

Aug 05, 25

IPO Listing Date

Aug 06, 25

IPO Subscription Details

DateQIBNIIRetailEMPTotal

Day 1Jul 29, 2025

 0.00 0.70 2.77 2.26 0.70

About M&B Engineering IPO

M&B Engineering IPO is a book-built issue worth ₹650.00 crore. The IPO comprises a fresh issue of 71.42 lakh equity shares aggregating to ₹275.00 crore and an offer for sale of 97.40 lakh equity shares aggregating to ₹375.00 crore. The IPO opens for subscription on July 30, 2025, and closes on August 1, 2025. The allotment is expected to be finalised on August 4, 2025, with tentative listing on BSE and NSE scheduled for August 6, 2025.

The IPO is priced in a band of ₹366 - ₹385 per share. Retail investors must apply for a minimum of 1 lot comprising 38 shares, requiring an investment of ₹14,630 at the cutoff price. sNII investors must apply for a minimum of 14 lots (532 shares), amounting to ₹2,04,820, while bNII investors must apply for a minimum of 69 lots (2,622 shares), amounting to ₹10,09,470.

Equirus Capital Private Limited is the book-running lead manager to the issue, and Link Intime India Private Limited is the registrar.

For detailed information on company financials, business operations, and associated risks, investors are advised to refer to the M&B Engineering IPO RHP.

Industry Outlook

  1. India’s construction and infrastructure sectors are growing rapidly, driven by rising demand for industrial, commercial, and warehousing spaces. This has boosted the adoption of Pre-Engineered Buildings (PEBs) and self-supported steel roofing, known for their speed, cost-efficiency, and design flexibility.
  2. CRISIL Research estimates the domestic PEB market will grow from ₹210 billion in FY2025 to ₹330–345 billion by FY2030, at a CAGR of 9.5–10.5%. The self-supported roofing segment is set to rise from ₹3.0 billion to ₹3.8–4.2 billion during the same period, growing at 5–7% CAGR. Growth is fuelled by infrastructure investments, organised warehousing, and government support for faster, sustainable construction.
  3. The industry is fragmented, with both regional and national players. Competitive edges include innovation, customisation, and fast execution. “Make in India” continues to push domestic manufacturing and reduce import dependency.
  4. Challenges include fluctuating raw material prices, design limits for complex builds, and skilled labour shortages. Still, the outlook is strong, as steel-based construction gains traction as a scalable, modern solution for India.

M&B Engineering IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

  1. Augment manufacturing capabilities by investing in new equipment, constructing additional buildings, and acquiring vehicles to support operational expansion across its Pre-Engineered Buildings (PEB) and roofing divisions. This includes the development of infrastructure at its existing facilities in Sanand, Gujarat and Cheyyar, Tamil Nadu.
  2. Upgrade enterprise resource planning systems through the implementation of SAP S/4 HANA, aimed at enhancing digital integration, operational efficiency, and data-driven decision-making across departments.
  3. Reduce outstanding borrowings by repaying secured loans from financial institutions, thereby improving the company’s debt profile and strengthening its balance sheet.
  4. Support general corporate purposes, which may include working capital requirements, brand development, and strategic initiatives aligned with long-term growth and market competitiveness.

About M&B Engineering Limited

M & B Engineering Limited was originally incorporated as a private limited company on 16 June 1981 under the Companies Act, 1956. It was subsequently converted into a public limited company on 24 August 1995 and has since evolved into a prominent player in the steel-based construction solutions sector.

The company operates through two principal divisions: Phenix, which specialises in Pre-Engineered Buildings (PEBs) and structural steel solutions, and Proflex, which focuses on self-supported steel roofing systems. These offerings cater to a diverse clientele across industrial, commercial, warehousing, and infrastructure segments throughout India and select international markets.

M & B Engineering maintains manufacturing facilities in Sanand, Gujarat and Cheyyar, Tamil Nadu, with a combined installed capacity of 103,800 metric tonnes per annum for PEBs and 1.8 million square metres per annum for roofing systems. The company is known for its emphasis on design precision, timely execution, and cost-effective solutions, supported by a robust in-house engineering and project management team.

How To Check the Allotment Status of the M&B Engineering IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for M&B Engineering IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the M&B Engineering IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of M&B Engineering IPO

Registered Office: Phenix House, Plot No. 312, GIDC Industrial Estate, Opp. Atul Products, Makarpura, Vadodara – 390010, Gujarat, India.

Phone: +91 265 263 8888
E-mail: cs@mbelindia.com

M&B Engineering IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

1,26,23,377 (74.75%)

− Anchor Investor Shares Offered

75,74,026 (44.85%)

− QIB (Ex. Anchor) Shares Offered

50,49,351 (29.90%)

NII (HNI) Shares Offered

25,24,675 (14.95%)

− bNII > ₹10L

16,83,117 (9.97%)

− sNII < ₹10L

8,41,558 (4.98%)

Retail Shares Offered

16,83,117 (9.97%)

Employee Shares Offered

57,307 (0.34%)

Total Shares Offered

1,68,87,475 (100.00%)

M&B Engineering IPO Lot Size

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

2,584

₹9,94,840

B-HNI (Min)

69

2,622

₹10,09,470

M&B Engineering IPO Promoter Holding

The promoters of the company are Girishbhai Manibhai Patel, Chirag Hasmukhbhai Patel, Malav Girishbhai Patel, Birva Chirag Patel, Vipinbhai Kantilal Patel, Aditya Vipinbhai Patel, Leenaben Vipinbhai Patel, Chirag H Patel Family Trust, Vipin K Patel Family trust, MGM5 Family Trust, MGM11 Family Trust and Aditya V Patel Family Trust.

Share Holding Pre-Issue

100.00%

Share Holding Post Issue

-

Key Performance Indicators for M&B Engineering IPO

The market capitalisation of M&B Engineering IPO is ₹2702.07 Cr. Here are the KPIs of M&B Engineering:

KPI

Value

EBITDA Margin (%)

12.78

PAT Margin (%)

7.73

Return on Equity (RoE) (%)

25.13

Return on Capital Employed (ROCE) (%)

24.80

M&B Engineering IPO Prospectus

M&B Engineering IPO Registrar and Lead Managers

M&B Engineering IPO Lead Managers

  • ICICI Securities Limited
  • Axis Capital Limited

Registrar for M&B Engineering IPO

Link Intime India Private Limited

M&B Engineering IPO Registrar

Financial Performance of M&B Engineering Limited

Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023 Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023 Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023 Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023
Revenue from Operations (₹ million) 9,885.54 7,950.60 8,804.70 Revenue from Operations (₹ million) 9,885.54 7,950.60 8,804.70 Revenue from Operations (₹ million) 9,885.54 7,950.60 8,804.70 Revenue from Operations (₹ million) 9,885.54 7,950.60 8,804.70
EBITDA (₹ million) 1,263.77 796.22 664.3 EBITDA (₹ million) 1,263.77 796.22 664.3 EBITDA (₹ million) 1,263.77 796.22 664.3 EBITDA (₹ million) 1,263.77 796.22 664.3
Restated Profit/(Loss) for the Year (₹ million) 770.47 456.34 328.92 Restated Profit/(Loss) for the Year (₹ million) 770.47 456.34 328.92 Restated Profit/(Loss) for the Year (₹ million) 770.47 456.34 328.92 Restated Profit/(Loss) for the Year (₹ million) 770.47 456.34 328.92
Net Debt (₹ million) 1,013.18 1,056.10 231.4 Net Debt (₹ million) 1,013.18 1,056.10 231.4 Net Debt (₹ million) 1,013.18 1,056.10 231.4 Net Debt (₹ million) 1,013.18 1,056.10 231.4
Net Working Capital (₹ million) 2,880.90 2,414.48 1,597.32 Net Working Capital (₹ million) 2,880.90 2,414.48 1,597.32 Net Working Capital (₹ million) 2,880.90 2,414.48 1,597.32 Net Working Capital (₹ million) 2,880.90 2,414.48 1,597.32
Return on Equity (ROE) (%) 25.13 19.68 18.89 Return on Equity (ROE) (%) 25.13 19.68 18.89 Return on Equity (ROE) (%) 25.13 19.68 18.89 Return on Equity (ROE) (%) 25.13 19.68 18.89
Return on Capital Employed (ROCE) (%) 24.80 19.17 19.70 Return on Capital Employed (ROCE) (%) 24.80 19.17 19.70 Return on Capital Employed (ROCE) (%) 24.80 19.17 19.70 Return on Capital Employed (ROCE) (%) 24.80 19.17 19.70

Know before investing

Strengths

8

  1. Over four decades of experience in steel-based construction solutions.

  2. Strong presence in both PEBs (Phenix) and roofing systems (Proflex).

  3. Manufacturing units in Gujarat and Tamil Nadu with national and international clientele.

  4. ₹8,428.38 million as of June 30, 2025, indicating healthy future revenue visibility.

  5. Installed capacity of 103,800 MTPA for PEBs and 1.8 million sqm/year for roofing.

  6. Consistent growth in revenue, EBITDA, and PAT over the last three financial years.

  7. Benefiting from infrastructure growth, warehousing expansion, and preference for steel construction.

  8. Strategic investments in capacity expansion, IT upgrades, and debt reduction to fuel future growth.

Risks

8

  1. Fluctuations in steel prices can impact margins and project costs.

  2. High inventory and receivables may strain liquidity.

  3. Delays in project delivery could affect client relationships and revenue.

  4. Reliance on contract labour and third-party erectors poses operational risks.

  5. Intense competition from regional and national players may pressure pricing.

  6. PEBs may not suit all architectural requirements, limiting market scope.

  7. Revenue dependency on a few large clients could affect stability.

  8. Operations in the USA may face geopolitical and currency risks.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
Play Button

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Play Button

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Peer Comparison

M&B Engineering IPO FAQs

What is the M&B Engineering IPO?

M&B Engineering IPO is a book-built issue IPO. It will be open from July 30, 2025, to August 1, 2025. 

When will the M&B Engineering IPO be allotted?

The Basis of Allotment will happen on Monday, August 4, 2025.  

When will the M&B Engineering IPO open for subscription?

The IPO subscription window will open on July 30, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 38 shares. 

When will M&B Engineering Limited list on exchanges?

The listing date for M&B Engineering Limited is Wednesday, August 6, 2025. 

What is the issue size of the M&B Engineering IPO?

The issue size of the M&B Engineering IPO comprises a fresh issue of 71.42 lakh equity shares aggregating to ₹275.00 crore and an offer for sale of 97.40 lakh equity shares aggregating to ₹375.00 crore. 

What are the open and close dates of the M&B Engineering IPO?

The open and close dates for M&B Engineering IPO are from July 30, 2025, to August 1, 2025. 

What would be the listing gains on the M&B Engineering IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.  

How to increase your chances of getting a M&B Engineering IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the M&B Engineering IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of M&B Engineering Limited using one PAN?

You can submit only one application using your PAN card. 

How to read M&B Engineering Limited's financial statements?

To read M&B Engineering ‘s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for M&B Engineering Limited IPO?

Pre-apply allows investors to apply for the M&B Engineering IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the M&B Engineering Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours. 

When will I know if my M&B Engineering Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.  

Who is the registrar of M&B Engineering IPO?

Link Intime India Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the M&B Engineering IPO getting listed?

M&B Engineering Limited IPO is proposed to be listed on the National Stock Exchange (NSE) of the Bombay Stock Exchange (BSE).