Mahendra Realtors & Infrastructure IPO: Issue opens for subscription. Check GMP, price band and other key details
Mahendra Realtors & Infrastructure IPO is a book-build issue of ₹ 49.45 crore, consisting of a fresh share sale worth ₹ 40.17 crore and an offer for sale of ₹ 9.28 crore.
Investors can apply for the issue in lots of 1,600 shares, with the Mahendra Realtors & Infrastructure IPO price band set at ₹ 75 to ₹ 85 apiece. For retail investors, the minimum investment is two lots, requiring them to shell out ₹ 2,40,000.
The company plans to use the funds raised from the initial share sale for meeting working capital needs, general corporate purposes and issue expenses.
Fast Track Finsec is the book-running lead manager, and MUFG Intime India is the registrar of the issue.
As of 11.45 am on the first day of the bidding, Mahendra Realtors' IPO was booked 0.04 times. The retail portion was subscribed 0.07 times, the NII portion 0.01 times, while the QIB portion did not receive any bids yet.
Mahendra Realtors & Infrastructure IPO GMP (grey market premium) stood at ₹ 6 today. This means shares of Mahendra Realtors were trading ₹ 6 above the issue price of ₹ 85.
At the prevailing GMP and the issue price, Mahendra Realtors & Infrastructure IPO listing price could be ₹ 91, a premium of 7% over the IPO price.
Mahendra Realtors IPO will list on NSE SME with a tentative listing date fixed as August 20.
Mahendra Realtors & Infrastructure provides a wide array of services, including but not limited to Structural Repairs, Rehabilitation, Retrofitting, Water Proofing, Corporate Interior, Build-Operate-Transfer (BOT) Projects, Maintenance, Construction, Infrastructure Restoration, etc.
It has an overall track record of completion of more than 200 projects for over 50 clients and an average rate of completion of projects within the allotted time.
The company has executed structural repair projects for government bodies like CIDCO and at Vashi and Belapur Railway Stations, using advanced techniques such as polymer-modified mortar, micro concrete, and waterproofing. Notably, its Ghatkopar project, involving steel jacketing and retrofitting, earned a Stability Certificate from IIT Bombay. It has also delivered high-profile interior works for IIT Bombay, Airport Authority of India, VVIP Circuit House (Pune), and SVP Hospital (Ahmedabad).
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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