Monarch Surveyors's ₹94cr IPO opens next week—should you subscribe?
Monarch Surveyors and Engineering Consultants is opening its IPO on July 22, offering 3.75 million new shares priced between ₹237 and ₹250 each.
They're looking to raise about ₹94 crore, with the IPO closing on July 24.
If you're curious about where it's heading next, the company will be listed on the BSE SME platform by July 29.
Monarch works in infrastructure consulting
Most of the funds will go toward buying new machinery and covering working capital needs, with some set aside for general expenses.
Monarch works in infrastructure consulting—think roads and railways—and faces competition from firms like Dhruv Consultancy Services.
Interestingly, this isn't a solo move: three other SMEs (TSC India, Swastika Castal, Savy Infra & Logistics) are also launching IPOs next week, showing that SME listings are really picking up steam in India right now.