Monarch Surveyors IPO GMP Rises: SME Issue Gets 105.72x Subscription On Day 3 So Far
Monarch Surveyors IPO GMP Today: The grey market premium has increased from 66% to 72%, indicating huge listing gains for investors.
Monarch Surveyors IPO GMP Today: The initial public offering of Monarch Surveyors & Engineering Consultants Ltd is going to be closed today, Thursday, July 24. The price band of the BSE SME IPO, which aims to raise Rs 93.75 crore, has been fixed at Rs 250 per share. Till 11:34 am on the second day of bidding on Thursday, the issue received a 105.72 times subscription, garnering bids for 26,23,54,800 shares as against the 24,81,600 shares on offer.
The retail and NII participation stood at 141.96x and 135.02x, respectively. The QIB category has received a 20.16x subscription.
The IPO's grey market premium has increased from 66% to 72%, indicating huge listing gains for investors.
The three-day IPO was opened on July 22.
Monarch Surveyors & Engineering Consultants Ltd, founded in 1992, is a civil engineering consultancy firm offering end-to-end services across infrastructure sectors like roads, railways, ports, and oil & gas.
Monarch Surveyors IPO GMP Today
According to market observers, unlisted shares of Monarch Surveyors & Engineering Consultants Ltd are currently trading at Rs 430 against the IPO price of Rs 250. It means a grey market premium or GMP of 72%, indicating huge listing gains for investors.
The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
Monarch Surveyors IPO Price And Lot Size
The price of the SME IPO has been fixed at Rs 250 apiece.
Its minimum lot size is 600. It means investors will have to apply for a minimum of 600 shares or in multiple thereof.
Retail investors require a minimum capital of Rs 2,84,400 to apply for the IPO.
Monarch Surveyors IPO Allotment And Listing Dates
The basis of allotment of the Monarch Surveyors IPO will be finalised on July 25.
Its shares will be listed on the BSE's SME platform, July 29.
The IPO, which is a book-building of Rs 93.75 crore, is entirely a fresh issue of 37.50 lakh shares.
Monarch Surveyors & Engineering Consultants Ltd's revenue rose 10% and profit after tax (PAT) increased 16% between the financial year ending with March 31, 2025 and March 31, 2024.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Monarch Surveyors IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Monarch Surveyors IPO is Spread X Securities Pvt Ltd.
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