M&B Engineering IPO: Price band set at ₹366-385 per share; check GMP, issue details, more
The floor price is and the cap price are 36.60 times and 38.50 times the face value of the equity shares, respectively. The M&B Engineering IPO lot size is 38 equity shares and in multiples of 38 equity shares thereafter.
M&B Engineering IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to ₹ 20 million. A discount of ₹ 36 per share is being offered to eligible employees bidding in the employee reservation portion.
Tentatively, M&B Engineering IPO basis of allotment of shares will be finalised on Monday, August 4 and the company will initiate refunds on Tuesday, August 5 while the shares will be credited to the demat account of allottees on the same day following refund. M&B Engineering share price is likely to be listed on BSE and NSE on Wednesday, August 6.
M&B Engineering IPO consists of a new issue of equity shares totaling ₹ 275 crore alongside an offer-for-sale (OFS) amounting to ₹ 375 crore from the promoters.
Funds raised from the new issue are intended for acquiring equipment and machinery for the company's manufacturing plants, settling debts, covering working capital needs, and general corporate activities.
Equirus Capital and DAM Capital Advisors serve as the book-running lead managers for the issuance.
M&B Engineering ranks among the top providers in the nation for Pre-Engineered Buildings (PEB) and Self-Supported Roofing based on installed capacity, which stands at 103,800 MTPA for PEB and 1,800,000 square meters annually for Self-Supported Roofing.
As per the red herring prospectus (RHP), the company's listed peers are Pennar Industries Ltd (with a P/E of 25.23), Bansal Roofing Products Ltd (with a P/E of 28.39 ), BirlaNU Ltd, Everest Industries Ltd, and Interarch Building Products Ltd (with a P/E of 33.69).
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