M&B Engineering IPO oversubscribed 36.2 times: GMP, key details
M&B Engineering's IPO was a huge hit, getting oversubscribed by 36.2 times—investors bid for over 35 crore shares when less than 1 crore were up for grabs.
Retail investors showed strong interest, but non-institutional and institutional buyers weren't far behind.
What does M&B Engineering do?
M&B Engineering builds pre-engineered buildings and steel roofing systems for clients in India and across 22 countries.
The company runs two main divisions—Phenix (handling full PEB projects) and Proflex (specializing in mobile steel roofing units).
They've got big facilities in Gujarat and Tamil Nadu.
Use of funds, financials, and listing date
The IPO raised ₹650 crore, with new funds going toward equipment upgrades, solar rooftops, vehicles, IT improvements, and paying down debt.
For FY25, they reported ₹996.89 crore revenue and ₹77 crore profit.
Shares start trading on NSE and BSE this Wednesday.