Monarch Surveyors IPO set for listing today. 84% GMP signals robust debut
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Monarch Surveyors and Engineering is all set to make its stock market debut on Tuesday on the BSE SME platform. Ahead of its listing, the IPO is commanding a solid grey market premium (GMP) of Rs 210 — translating to a likely listing price of around Rs 460 against the issue price of Rs 250, implying potential listing gains of 84%.The Rs 94 crore IPO, which ran from July 22 to July 24, saw overwhelming investor interest across categories. The issue was subscribed a massive 250.65 times overall, with retail investors bidding 263.01 times, non-institutional investors (NIIs) 317.05 times, and qualified institutional buyers (QIBs) 179.01 times.Monarch Surveyors provides end-to-end civil engineering consultancy services such as surveying, GIS mapping, geotechnical investigations, feasibility studies, and project management.The company's client base includes entities from the roads, railways, ports, and oil and gas sectors. As of March 2024, the company had 417 employees and a diverse project portfolio across infrastructure verticals.Financially, the company reported consistent growth with FY25 revenue rising 10% YoY to Rs 155.66 crore and profit after tax (PAT) up 16% to Rs 34.83 crore.With aggressive subscription figures, and a steep GMP of 84%, Monarch Surveyors' listing is likely to be solid. All eyes will now be on whether the stock can sustain its premium in the sessions post-listing.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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