Monomark Engineering (India) Limited IPO
IPO Details
Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
To be announced
Investor category and sub category
Qualified Institutional Buyers (QIB) | Retail Individual Investors (RII) | Non-institutional Investors (NII)About Monomark Engineering (India) Limited IPO
Monomark Engineering (India) Limited IPO is a book-building issue consisting of a fresh issue of up to 2,70,00,000 equity shares of face value of ₹10, with no offer for sale component. The equity shares are proposed to be listed on the BSE and NSE platforms.
Holani Consultants Private Limited is the book-running lead manager to the issue, while Bigshare Services Private Limited is the registrar. Key details, including the IPO dates, price band, and lot size, are yet to be announced.
About Monomark Engineering (India) Limited
Monomark Engineering (India) Limited was originally incorporated as 'Monomark Engineering (India) Private Limited' at Chittorgarh, Rajasthan as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 29, 2005, issued by the Registrar of Companies, Jaipur, Rajasthan. The company was converted to a public limited company pursuant to a resolution of its Shareholders passed at an extraordinary general meeting held on September 6, 2025, and its name was changed to 'Monomark Engineering (India) Limited.'
The company is an industrial services provider offering Operations and Maintenance (O&M), Metal Fabrication, and Industrial Project Execution (EPC) services to clients in the cement, metals, ports, and engineering/OEM sectors. It combines on-site O&M support, in-house metal fabrication (with an annual installed capacity of 4,000 MT at its Kapasan facility), and end-to-end EPC project execution, spanning engineering, procurement, construction, erection, and commissioning, enabling it to reduce client dependence on multiple vendors and support long-term operational partnerships.
Monomark Engineering (India) Limited delivers its services through its registered and corporate office in Chittorgarh, Rajasthan, with a presence across 7 Indian states including Rajasthan, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, and Maharashtra (including Dadra & Nagar Haveli and Daman & Diu). It also operates internationally through its wholly owned subsidiary, Monomark Engineering FZE, incorporated in the Fujairah Free Zone, UAE, through which it provides O&M services to Vedanta Limited's subsidiary, Fujairah Gold FZC. The company's execution capabilities are supported by an owned fleet of 224 pieces of industrial equipment and a workforce of over 6,000 personnel, including engineers, project managers, technicians, and administrative staff.
The company serves major Indian and multinational industrial groups, including the Vedanta Group, Adani Group, Aditya Birla Group, JK Lakshmi Cement Group, L&T Group, and TATA Group, with the Metal Industry contributing 82.24% and the Cement Industry contributing 11.05% of consolidated revenue for the period ended September 30, 2025.
Industry Outlook
India’s real GDP growth is estimated at 6.5% for FY 2025 (Provisional Estimates), positioning the country as a resilient and growing industrial hub amidst a broader global economic slowdown and geopolitical volatilities.
Driven by strong domestic demand, India’s total electricity generation has risen from 1,168 billion units (BU) in FY 2016 to an estimated 1,824 BU in FY 2025, while total installed capacity has grown from 305 GW to a projected 476 GW over the same period, creating continuous demand for specialized O&M services.
India’s cement industry is undergoing massive capacity expansion, with manufacturers collectively planning approximately INR 1.25 lakh crore in CAPEX between FY 2025 and FY 2027 to add close to 130 million tonnes of grinding capacity.
Backed by government-led initiatives, India’s chemical and petrochemical production capacity is projected to expand sharply from 29.62 million tonnes to 46 million tonnes by 2030.
The Indian pharmaceutical sector reached a turnover of INR 4,17,345 crore in FY 2024, demonstrating consistent growth of over 10% annually, with revenues projected to grow 7.8% year-on-year.
The competitive landscape is increasingly shaped by the integration of digital technologies (such as IoT, AI, BIM, and digital twins) to reduce asset downtime, alongside persistent challenges regarding industry fragmentation, margin pressures, and the availability of a skilled technical workforce.
Monomark Engineering (India) Limited IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
To fund incremental working capital requirements to support ongoing business expansion and operations.
The remaining balance from the Net Proceeds will be deployed towards general corporate purposes and issue-related expenses.
Financial Performance of Monomark Engineering (India) Limited
Particulars | H1 FY26 (Sep 30, 2025, Consolidated) | FY25 (Consolidated) | FY24 (Consolidated) | FY23 (Standalone) |
Revenue from Operations (₹ in Lakhs) | 25,792.15 | 47,503.19 | 38,985.95 | 31,533.12 |
EBITDA (₹ in Lakhs) | 2,370.34 | 3,926.38 | 3,188.50 | 1,721.20 |
EBITDA Margin (%) | 9.19% | 8.27% | 8.18% | 5.46% |
PAT / Restated Profit (₹ in Lakhs) | 1,236.39 | 1,821.26 | 1,482.63 | 528.56 |
PAT Margin (%) | 4.79% | 3.83% | 3.80% | 1.68% |
Net Worth (₹ in Lakhs) | 10,759.24 | 7,325.81 | 6,010.80 | 5,025.84 |
RoNW (%) | 11.49% | 24.86% | 24.67% | 10.52% |
Monomark Engineering (India) Limited Peer Details Comparison
Company Name | Total Income / Revenue (₹ in Lakhs) | Basic EPS (₹) | RoNW / RoE (%) | NAV per share (₹) |
Monomark Engineering (India) Limited | 47,503.19 | 2.89 | 24.86% | 11.61 |
ANI Integrated Services Limited | 22,746.35 | 8.79 | 12.76% | 68.16 |
Thejo Engineering Limited | 55,273.55 | 46.07 | 16.33% | 295.33 |
Power Mech Projects Limited | 5,23,414.00 | 103.26 | 16.09% | 683.17 |
Thermax Limited | 10,38,869.00 | 56.33 | 12.68% | 438.79 |
Strengths and Opportunities of Monomark Engineering (India) Limited IPO
The company is led by founder, promoter, and director Mr. Narendra Chordia, who brings approximately 40 years of experience across core verticals (O&M, project execution, and metal fabrication).
The company operates an integrated business model spanning Industrial Operations & Maintenance (O&M) services, Metal Fabrication solutions, and Industrial Project Execution services, allowing it to support industrial clients across multiple stages of the asset lifecycle.
Operates across 7 Indian states and Union Territories (Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Karnataka, Jharkhand, and Dadra & Nagar Haveli and Daman & Diu).
The Indian cement industry is scaling up rapidly, with manufacturers planning ₹ 1.25 lakh crore in CAPEX between FY 2025 and FY 2027 to add nearly 130 million tonnes of grinding capacity, driving demand for heavy industrial services and equipment installation.
Expanding national industrialization and the government's "Make in India" push create continuous long-term demand for professional industrial O&M and mechanical project execution.
Growing industry-wide shift toward digital maintenance tools (such as IoT-enabled sensor monitoring, predictive analytics, and automated workflow software) presents an opportunity to capture higher-value technical contracts and improve operational efficiencies.
Stricter environmental regulations and government mandates (such as the Perform, Achieve & Trade [PAT] scheme) create lucrative opportunities for specialised O&M providers to offer integrated compliance, environmental monitoring, and energy-optimization services.
Risks and Threats of Monomark Engineering (India) Limited IPO
The company derives a significant portion of its revenue from its single largest customer—accounting for 33.92% (period ended September 30, 2025), 35.74% (FY 2025), 42.01% (FY 2024), and 47.84% (FY 2023) of total revenue.
The company generates a substantial majority of its revenue from the sale of services and products to the metal and cement industries, accounting for 93.29% (September 30, 2025), 90.84% (FY 2025), 89.77% (FY 2024), and 89.19% (FY 2023) of operations. Any cyclical downturn or capex slowdown in these sectors can severely hurt financial results.
The company experiences extremely high attrition among its project-specific workforce, recorded at 43.55% (period ended September 30, 2025), 90.93% (FY 2025), 88.82% (FY 2024), and 97.19% (FY 2023).
Because operations involve deployment across heavy industrial sites, the company has faced past workplace accidents, including 14 incidents resulting in compensation/fatalities in FY 2025 and 3 incidents for the period ended September 30, 2025.
As of September 30, 2025, the company has an unfunded gratuity liability provision of ₹ 2,012.17 lakhs with no dedicated insurance coverage or irrevocable trust fund in place.
The company has experienced negative cash flows from operating activities in certain periods, amounting to ₹ 200.55 lakhs for the period ended September 30, 2025, and ₹ 792.00 lakhs in FY 2023.
Consumables, stores, and spares deployed at client-controlled industrial premises constitute 75.19% (September 30, 2025), 74.93% (FY 2025), and 57.92% (FY 2024) of total inventory, exposing the company to risks of physical loss, damage, or theft where direct supervision is constrained.
Monomark Engineering (India) Limited IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not more than 50% of the Net Issue |
NII Shares Offered | Not less than 15% of the Net Issue |
Retail Shares Offered | Not less than 35% of the Net Issue |
Monomark Engineering (India) Limited IPO Promoter Holding
The promoters of the company are Narendra Chordia, Meena Chordia, Nitesh Chordia and Gaurav Chordia.
Share Holding Pre-Issue | 91.37% |
Share Holding Post Issue | - |
Monomark Engineering (India) Limited IPO Prospectus
Monomark Engineering (India) Limited IPO Registrar and Lead Managers
Monomark Engineering (India) Limited IPO Lead Managers
Holani Consultants Private Limited
Registrar for Monomark Engineering (India) Limited IPO
Bigshare Services Private Limited
Contact Number: 8657578989/8069219065/8069219060
Email Address: ipo@bigshareonline.com
How To Apply for Monomark Engineering (India) Limited IPO Online?
Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
Locate the IPO Section: Navigate to the 'IPO' section on the platform.
Select IPO: Find and select the Monomark Engineering (India) Limited IPO from the list of open IPOs.
Enter the Lot Size: Specify the number of lots you want to bid for.
Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of the Monomark Engineering (India) Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.
Don't miss the next investment opportunity - browse the Upcoming IPO on Angel One.
Contact Details of Monomark Engineering (India) Limited IPO
Registered Office: 165-167, New RIICO Ind. Area, Chanderiya, Distt. Chittorgarh, Rajasthan, India -312001
Phone: +91 –7023050122
E-mail: s.taneja@monomark.co.in
- How to Apply in IPO
- How to Check IPO Allotment Status
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
Monomark Engineering (India) Limited IPO FAQs
What minimum lot size can retail investors subscribe to?
The minimum lot size for the Monomark Engineering (India) Limited IPO has not yet been announced.
When will the Monomark Engineering (India) Limited IPO be allotted?
The basis of allotment date for the Monomark Engineering (India) Limited IPO has not yet been announced.
How to increase your chances of getting a Monomark Engineering (India) Limited IPO allotment?
Multiple Submissions: Use different Demat accounts belonging to different eligible applicants to make separate applications.
Price Bidding: Opt for bidding at the cut-off price or the upper price band to avoid the application being rejected due to a lower bid.
Timely Subscription: Ensure you submit your IPO application within the specified subscription period and complete the required application process before the deadline.
Application Details: Check your PAN, Demat account, bank account and UPI details carefully before submitting the application to avoid rejection due to errors.
How do I approve the UPI mandate request for the Monomark Engineering (India) Limited IPO?
After submitting your IPO application, you will receive a UPI mandate request in your chosen UPI app. Review the details and approve the mandate before the specified deadline to complete your application.
Can I submit more than one application for the public issue of Monomark Engineering (India) Limited using one PAN?
No, you should not submit multiple IPO applications using the same PAN under the same investor category. Multiple applications with the same PAN may be rejected as invalid during the allotment process.
What is 'pre-apply' for Monomark Engineering (India) Limited IPO?
Pre-apply allows investors to submit their IPO application before the public issue officially opens for subscription. The application is saved in advance and is processed when the IPO opens.
If I pre-apply for the Monomark Engineering (India) Limited IPO, when will my order get placed?
The IPO opening date for Monomark Engineering (India) Limited has not yet been announced. Thus, the order placement date cannot be specified.
When will I know if my Monomark Engineering (India) Limited IPO order is placed?
You will receive a confirmation once your IPO order has been successfully placed on the exchange. You will also receive notifications through your email and SMS.
Where is the Monomark Engineering (India) Limited IPO getting listed?
The Monomark Engineering (India) Limited IPO is proposed to be listed on the NSE and BSE platforms. The listing date has not yet been announced.
