The MB Engineering IPO is a highly anticipated book-built issue with a total size of ₹650.00 crores. This public offering consists of a fresh issue of 0.71 crore equity shares worth ₹275.00 crores, and an offer for sale (OFS) of 0.97 crore shares amounting to ₹375.00 crores. Through this IPO, the company aims to raise fresh capital while allowing existing shareholders to partially offload their stake.
The IPO opens for public subscription on July 30, 2025, and will close on August 1, 2025. Investors can expect the allotment to be finalized on Monday, August 4, 2025. Following the allotment, the shares are tentatively scheduled to be listed on BSE and NSE on Wednesday, August 6, 2025.
The price band for the M&B Engineering IPO has been fixed at ₹366 to ₹385 per share. Investors can apply in lots, with one lot consisting of 38 shares. For retail investors, the minimum investment amount works out to ₹13,908.
For non-institutional investors, the investment structure is as follows:
- sNII (Small NII): Minimum application is 14 lots (532 shares), which equals an investment of ₹2,04,820.
- bNII (Big NII): Minimum application is 69 lots (2,622 shares), amounting to an investment of ₹10,09,470.
The M&B Engineering IPO offers a balanced mix of fresh equity infusion and promoter exit through OFS. With a well-defined price band and structured lot size, it presents an opportunity for a wide range of investors. As the listing date approaches, market participants will closely watch the grey market premium (GMP) and subscription levels to assess the market sentiment around this IPO.
MB Engineering IPO Details
| General | Detail |
|---|---|
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹366 to ₹385 per share |
| Lot Size | 38 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| 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 of ₹10 (aggregating up to ₹375.00 Cr) |
| Employee Discount | ₹36.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,00,00,000 shares |
| Share Holding Post Issue | 5,71,42,857 shares |
MB Engineering IPO Lot Size
Investors can apply for a minimum of 38 shares and in multiples thereafter. Below is the category-wise investment breakdown for Retail and HNIs.
| 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 |
MB Engineering IPO Promoter Holding
The promoters of the company include Girishbhai Manibhai Patel, Chirag Hasmukhbhai Patel, Malav Girishbhai Patel, Birva Chirag Patel, Vipinbhai Kantilal Patel, Aditya Vipinbhai Patel, and Leenaben Vipinbhai Patel, along with 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
MB Engineering IPO Timeline
| IPO Timeline | Date |
|---|---|
| IPO Open Date | Wed, Jul 30, 2025 |
| IPO Close Date | Fri, Aug 1, 2025 |
| Tentative Allotment | Mon, Aug 4, 2025 |
| Initiation of Refunds | Tue, Aug 5, 2025 |
| Credit of Shares to Demat | Tue, Aug 5, 2025 |
| Tentative Listing Date | Wed, Aug 6, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2025 |
MB Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Net Offer |
Investor Category Reservations
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII | Employee limit: Up to Rs 5 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for Employee and RII/NII |
About MB Engineering IPO
MB Engineering Ltd. was incorporated on June 16, 1981, as Manibhai and Brothers (Construction) Private Limited. Over time, it evolved into a prominent engineering and infrastructure company, and became a public limited entity in March 2011. Headquartered in Ahmedabad, Gujarat, the company has built a strong foundation in structural steel construction and pre-engineered building solutions, now gaining investor attention through the MB Engineering IPO.
The company provides comprehensive engineering services including consultancy, design, manufacturing, fabrication, procurement, civil construction, and installation. Operating on a turnkey EPC basis, it serves sectors like power, petrochemicals, industrial manufacturing, mining, and oil & gas. Known for its quality, timely delivery, and cost efficiency, M&B has positioned itself as a trusted name in engineering.
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The promoters of the company include Chirag Hasmukhbhai Patel, Malav Girishbhai Patel, Girishbhai Manibhai Patel, Vipinbhai Kantilal Patel, Aditya Vipinbhai Patel, Birva Chirag Patel, and Leenaben Vipinbhai Patel, backed by various family trusts. Their leadership combines technical expertise, industry experience, and strategic governance.
Under the brand Phenix, M&B Engineering has completed over 8,000 projects, covering more than 15 million sq. meters of roofing. With a presence across 22 states and 5 union territories, the company holds a robust order book of ₹8,428 million as of June 30, 2025. The M&B Engineering IPO comes at a time when infrastructure growth in India is accelerating, making it a potential opportunity for long-term investors.
Products
- Proflex Self-Supported Steel Roofing Systems :- Curved roofing structures for warehouses, factories, and industrial plants
- Pre-Engineered Steel Buildings (PEBs) :- Custom metal structures for industrial, commercial, and logistics use
- Roofing Accessories :- Components to enhance structural safety, ventilation, and durability
- Industrial Project Execution :- Turnkey services for fuel depots, refineries, chemical plants, and utilities
- Integrated MEP & Civil Services :- Execution of mechanical, electrical, and civil engineering works
Company Strengths
- Industry Leadership :- One of India’s top players in PEBs and roofing solutions
- Comprehensive Offerings :- End-to-end project delivery from design to commissioning
- Strong Order Book :- Orders worth ₹8,428 million, reflecting market trust
- Strategic Infrastructure :- Modern production plants with mobile roofing units
- Experienced Promoters :- Backed by a seasoned leadership team with decades of expertise
Company Financials
MB Engineering Ltd. Financial Information
MB Engineering Ltd. reported a 23% year-on-year growth in revenue and a 69% surge in Profit After Tax (PAT) between the financial years ending March 31, 2024, and March 31, 2025.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 849.21 | 633.11 | 558.79 |
| Revenue | 996.89 | 808.26 | 889.00 |
| 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 and Surplus | 256.53 | 183.03 | 160.51 |
| Total Borrowing | 186.13 | 204.84 | 148.75 |
| Amount in ₹ Crore | |||
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 25.13% |
| ROCE | 24.80% |
| Debt/Equity | 0.33 |
| RoNW | 25.14% |
| PAT Margin | 7.73% |
| EBITDA Margin | 12.78% |
| Price to Book Value | 6.28 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 15.41 | 13.48 |
| P/E (x) | 24.98 | 28.55 |
- Note:
- The Pre-Issue EPS is calculated using the pre-issue shareholding as mentioned in the Red Herring Prospectus (RHP), along with the company’s latest financial year earnings as of March 31, 2025.
- The Post-Issue EPS is derived based on the post-issue shareholding and the annualized earnings for FY ending March 31, 2025, as disclosed in the RHP.
Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at our Manufacturing Facilities | 130.58 |
| 2 | Investment in IT software upgradation by our Company | 5.20 |
| 3 | Re-payment or pre-payment of term loans, in full or in part, of certain borrowings availed by our Company | 58.75 |
| 4 | General corporate purposes |
MB Engineering IPO Contact Details
MB Engineering Ltd. Contact Details
- MB Engineering Ltd.
MB House, 51, Chandrodaya Society,
Opp. Golden Triangle, Stadium
Post Navjivan,
Ahmedabad, Gujarat, 380014 - Phone: +91 79- 264637
- Email: compliance@mbel.in
- Website: http://www.mbel.in/
MB Engineering IPO Registrar
- MUFG Intime India Private Limited (Link Intime)
- Phone: +91-22-4918 6270
- Email: mbengg.ipo@linkintime.co.in
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html
- Price band: ₹366 to ₹385 per share
- Lot size: 38 shares
- Retail minimum investment: ₹13,908
- sNII investment: 14 lots (₹2,04,820)
- bNII investment: 69 lots (₹10,09,470)
- Revenue Growth (FY25 vs FY24): 23%
- Profit After Tax (PAT) Growth: 69%
- Strong order book: ₹8,428 million as of June 30, 2025
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