Latest news with #MahendraRealtors
Mint
6 days ago
- Business
- Mint
Mahendra Realtors & Infrastructure IPO: Issue opens for subscription. Check GMP, price band and other key details
Mahendra Realtors & Infrastructure IPO: Mahendra Realtors & Infrastructure's initial public offering (IPO) kicked off for subscription on Tuesday, August 12. The SME IPO will remain open for bidding till Thursday, August 14. 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.
Time of India
6 days ago
- Business
- Time of India
Mahendra Realtors IPO: Check GMP, price band, issue size and other details
Mahendra Realtors and Infrastructure has opened its Rs 49.45 crore IPO for subscription today. The book-built issue, which comprises a fresh issue of 47.26 lakh shares aggregating Rs 40.17 crore and an offer for sale of 10.91 lakh shares worth Rs 9.28 crore, will close on August 14. The company has fixed a price band of Rs 75 to Rs 85 per share, with a lot size of 1,600 shares. Retail investors can apply for a minimum of two lots (3,200 shares). According to market observers, the grey market premium (GMP) for the issue is currently around 7% The tentative basis of allotment will be finalised on August 18, with refunds and credit of shares to demat accounts expected on August 19. Listing on NSE SME is scheduled for August 20. Fast Track Finsec is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue. Mahendra Realtors specialises in structural repairs, rehabilitation, retrofitting, waterproofing, corporate interiors, BOT projects, and infrastructure restoration. The company has executed high-profile projects such as repairs for CIDCO's Vashi and Belapur railway stations, retrofitting at Ghatkopar with IIT Bombay certification, and interiors for institutions like IIT Bombay, Airport Authority of India, VVIP Circuit House in Pune, and SVP Hospital in Ahmedabad. With over 200 projects completed for more than 50 clients, the company operates across multiple states, including Maharashtra, Gujarat, Goa, Andhra Pradesh, Tamil Nadu, and Delhi. Financially, Mahendra Realtors reported a 22% rise in revenue to Rs 128.69 crore in FY25, with profit after tax increasing 28% to Rs 14.87 crore. The IPO proceeds will primarily fund working capital requirements of Rs 30.40 crore, alongside general corporate purposes and issue expenses. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
