Monolithisch India GMP at 26% on final day of IPO subscription. Check all details
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Shares of Monolithisch India are trading at a healthy grey market premium ( GMP ) of 25.9%, or Rs 37–39, in the unlisted market on the final day of its bidding process. The initial public offering (IPO) has attracted a total subscription of 17.7 times so far.As of around 11:15 a.m. today, the issue—which opened for public subscription on June 12—received bids for 7,25,23,000 shares against 41,03,000 shares reserved for all categories of investors.Retail investors led the response with 41,174 applications bidding for 4,11,74,000 shares. This was followed by non-institutional investors (NIIs), who subscribed to 2,78,29,000 shares through 3,091 applications, and qualified institutional buyers (QIBs), who made 6 applications for a total of 56,50,000 shares.The SME IPO aims to raise Rs 82.02 crore by issuing 54.48 lakh new equity shares. The shares are slated to list on the NSE SME platform, with a tentative listing date of June 19, 2025.The IPO is priced in a band of Rs 135 to Rs 143 per share. Retail investors can apply for a minimum lot size of 1,000 shares, which translates to an investment of Rs 1.43 lakh at the upper end of the price range. Hem Securities is acting as the book-running lead manager, while Kfin Technologies is the registrar for the issue.Proceeds from the IPO will be used to fund capital expenditure for setting up a new manufacturing facility, invest in its subsidiary Metalurgica India Private Limited, meet working capital requirements, and cover general corporate expenses.Monolithisch India, incorporated in August 2018, is engaged in the manufacturing and supply of ramming mass—a crucial heat insulation material used in iron and steel induction furnaces. The company has demonstrated steady growth, expanding its client base from 43 in 2023 to 61 in 2025, reflecting a strengthening market presence. In FY25, Monolithisch delivered a robust financial performance, with revenue rising 41% to Rs 97.49 crore and net profit surging 70% to Rs 14.49 crore, compared to the previous fiscal year.: 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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