The M&B Engineering IPO will open for subscription on July 30, 2025, and close on August 1, 2025. Incorporated in 1981, M&B Engineering Limited is involved in the design, manufacturing, and installation of Pre-Engineered Buildings (PEBs) and Self-Supported Steel Roofing systems. The company offers design-led structural solutions across industries like engineering, manufacturing, warehousing, textiles, and power.
The blog will cover further details on M&B Engineering IPO issue size, price band, financial performance, and business strengths.
M&B Engineering IPO Date
The key pointers for the M&B Engineering IPO dates are:
- Bidding Opening Date: July 30, 2025
- Bidding Closing Date: August 1, 2025
- Allotment Date: August 4, 2025
- Initiation of Refunds (in case of less or no allotment): August 5, 2025
- Shares Credited to Your Demat Account: August 5, 2025
- IPO Listing Date: August 6, 2025
- Listing on Exchange: BSE and NSE
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M&B Engineering: IPO Issue Size
M&B Engineering IPO valuation, as denoted by the market capitalization, stood at ₹2,200 crores. Here are the important details:
- M&B Engineering IPO Price Band: ₹366 to ₹385 per share
- Lot Size: 38 Shares
- Issue Size and Amount: 1.68 crore shares (aggregating up to ₹650 crores)
- Fresh Issue Size and Amount: 71 lakh shares (aggregating up to ₹275 crores)
- Offer for Sale and Amount: 97 lakh shares of ₹10 (aggregating up to ₹375 crores)
M&B Engineering IPO Proceeds Usage
M&B Engineering IPO proceeds will be used for the following purposes:
- To fund capital expenditure for acquiring equipment and machinery, constructing buildings, installing a solar rooftop grid, and purchasing transport vehicles for the company’s manufacturing facilities.
- To invest in upgrading the company’s IT software infrastructure.
- To repay or prepay certain term loans, either in whole or in part, that the company has previously availed.
- To meet general corporate expenses and support ongoing business requirements.
M&B Engineering IPO Reservations
M&B Engineering IPO reservations to different investors are:
- For QIBs: Not less than 75% of the Net Offer
- For NIIs: Not more than 15% of the Net Offer
- For Retail Investors: Not more than 10% of the Net Offer
M&B Engineering IPO Lot Size
M&B Engineering IPO lot size is 38 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,630 |
| S-HNI (Min) | 14 | 532 | ₹2,04,820 |
| B-HNI (Min) | 69 | 2,622 | ₹10,09,470 |
M&B Engineering IPO Details: Promoter Holding
Girishbhai Manibhai Patel, Chirag Hasmukhbhai Patel, Vipin K Patel Family Trust, MGM5 Family Trust, and Aditya V Patel Family Trust are some of the promoters of the company.
Girishbhai Manibhai Patel, Chirag Hasmukhbhai Patel, and Vipinbhai Kantilal Patel are the top 3 selling shareholders in this IPO.
M&B Engineering IPO: Company Overview
M&B Engineering Limited, established in 1981, is a company that builds large steel structures such as pre-engineered buildings (PEBs) and self-supported roofing systems. These solutions are used across many industries like engineering, manufacturing, warehousing, textiles, power, logistics, food, and beverages.
The company manages the entire process in-house, from design and engineering to manufacturing and testing, ensuring safe and high-quality construction. It operates two manufacturing units in Sanand, Gujarat (since 2008), and Cheyyar, Tamil Nadu (since 2024), with a total production capacity of 103,800 metric tonnes per year. M&B Engineering also exports its products to 22 countries, including the USA, Brazil, South Africa, Qatar, and Sri Lanka.
Its two divisions – Phenix and Proflex – focus on building steel structures and installing roofing systems using mobile units at project sites. The company has completed over 9,500 projects till FY25 and is known for offering a wide range of specialised products. With strong client relationships, an order book of ₹843 crores as of June 30, 2025, and mobile installation units, it is considered a leading player in India’s structural steel and roofing solutions industry.
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M&B Engineering IPO: Financial Performance
M&B Engineering Ltd. key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Mar 2025 | 31 Mar 2024 | YoY Change |
|---|---|---|---|
| Revenue from Operations | 988.55 | 795.06 | 24% |
| Profit After Tax (PAT) | 77.05 | 45.63 | 69% |
| EBITDA | 126.38 | 79.62 | 59% |
| Net Worth | 306.53 | 233.03 | 32% |
| Total Assets | 849.21 | 633.11 | 34% |
| Total Borrowing | 186.13 | 204.84 | -9% |
- M&B Engineering Ltd. posted a 24% increase in revenue for FY25, reaching ₹988.55 crores, reflecting strong project execution across sectors.
- Profit after tax grew sharply by 69% YoY, rising from ₹45.63 crores in FY24 to ₹77.05 crores in FY25, indicating improved earnings efficiency.
- EBITDA stood at ₹126.38 crores in FY25, up 59% YoY, showcasing robust operating performance.
- The company’s net worth rose by 32%, strengthening its balance sheet position to ₹306.53 crores by March 2025.
- Total assets went up by 34%, from ₹633.11 crores to ₹849.21 crores, showing expansion in scale and operations.
- Total borrowings declined by 9%, from ₹204.84 crores to ₹186.13 crores, highlighting improved debt management and financial discipline.
M&B Engineering IPO Peer Comparison
Here is the comparison of M&B Engineering with its peers:
| Company Name (FY25) | EPS (Basic in ₹) | P/E (x) | ROE (%) | Net Debt to Equity (times) |
|---|---|---|---|---|
| M & B Engineering | 15.41 | 24.98 | 25.13% | 0.33 |
| Pennar Industries | 8.84 | 25.23 | 11.95% | 0.59 |
| Bansal Roofing Products | 4.20 | 28.39 | 16.71% | 0.14 |
| BirlaNU | -43.63 | – | -2.72% | 0.52 |
| Everest Industries | -2.28 | – | -0.60% | 0.26 |
| Interarch Building Products | 68.51 | 33.69 | 14.35% | -0.24 |
- M & B Engineering EPS is ₹15.41, which is the second-best among the peers and shows its great earnings potential for shareholders.
- The PE ratio is 24.98, and it is lower than the industry average PE ratio of 29.11, highlighting an undervalued potential.
- Its ROE is the highest among the peers, and the net debt to equity ratio is also less than 1, signalling great returns on equity and robust debt management.
M&B Engineering IPO Risk Factors
M&B Engineering IPO GMP is ₹34 as of July 29, 2025 (at 11:02). It is expected to list at an 8.83% gain at a price of ₹419. However, GMP is not a safe or assured criterion to bid for an IPO.
M&B Engineering Ltd. is exposed to various risk factors that can eventually affect its business and investors’ perception:
- The business requires high working capital, which may affect day-to-day liquidity and cash flow.
- The company operates in a highly competitive engineering and construction space, which could impact pricing and market share.
- Its performance is linked to broader economic conditions, as customer investments often depend on industry cycles.
- Variations in the prices of raw materials like steel can directly affect profit margins.
- Project execution may face delays due to unforeseen external issues such as weather, logistics, or regulatory approvals.
- International operations expose the company to compliance risks and currency exchange fluctuations.
- Delivering uniform quality across varied and complex projects may be difficult to maintain consistently.
- Attracting and retaining skilled professionals is a challenge, especially in a competitive job market.
- Changes in laws, government policies, or environmental regulations could affect operations or lead to additional compliance costs.
Frequently Asked Questions – FAQs
1. When is the M&B Engineering IPO opening and what are the key dates to remember?
The M&B Engineering IPO opens for subscription on July 30, 2025, and closes on August 1, 2025. Allotment is expected on August 4, refunds and credit of shares will be initiated by August 5, and the listing is tentatively scheduled for August 6, 2025 on the BSE and NSE.
2. What is the price band and lot size for the M&B Engineering IPO?
The price band for the IPO is ₹366 to ₹385 per share, and the lot size is 38 shares. Retail investors can apply for a minimum of 1 lot (₹14,630) and up to a maximum of 13 lots (₹1,90,190).
3. How will M&B Engineering use the IPO proceeds?
The proceeds will be used for capital expenditure (equipment, buildings, solar grid, transport vehicles), IT software upgrades, repayment of particular loans, and general corporate purposes.
4. What does M&B Engineering Ltd. do, and which sectors does it serve?
M&B Engineering builds Pre-Engineered Buildings (PEBs) and Self-Supported Steel Roofing systems. Its solutions are used across engineering, warehousing, manufacturing, logistics, textiles, food, and power sectors. The company operates from two manufacturing units and exports to 22 countries.
5. What are the key financial highlights of M&B Engineering for FY25?
In FY25, M&B Engineering Limited reported a 23% revenue growth (₹996.89 Cr), a 69% rise in profit after tax (₹77.05 Cr), and a 59% increase in EBITDA (₹126.38 Cr). It also reduced borrowings by 9%, reflecting strong financial discipline.
References:
https://www.sebi.gov.in/filings/public-issues/jul-2025/mandb-engineering-limited-rhp_95585.html
https://www.investorgain.com/gmp/mb-engineering-ipo-gmp/1351/
Author: All Content is verified by SMC Global Securities.
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