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Business Standard
a day ago
- Business
- Business Standard
Monolithisch India IPO closes today; subscription rises 15x, GMP at 27%
Monolithisch India IPO subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Monolithisch India is set to conclude today, June 16, 2025. The SME offering, which opened for subscription on Thursday, June 12, 2025, has received an overwhelming response from investors so far. The NSE data showed that the public issue has been oversubscribed by 14.56 times by 10:34 AM on Monday, June 16, 2025. Monolithisch India IPO details The Monolithisch India IPO, valued at around ₹82.02 crore, comprises an entirely fresh issue of 5.45 million equity shares. The issue has no offer for sale (OFS) component. The public offering is available at a price band of ₹135-143 per share, with a lot size of 1,000 shares. A retail investor can bid for a minimum of 1,000 shares and in multiples thereof, requiring a minimum investment amount of ₹1,43,000 (at the upper end of the IPO price). A High net worth individual (HNI) would require a minimum of ₹2,86,000 to bid for a minimum of two lots of 2,000 equity shares. Monolithisch India IPO grey market premium (GMP) The unlisted shares of Monolithisch India were commanding a decent premium in the grey markets on the last day of subscription. Sources tracking unofficial market activities revealed that the company's shares were trading flat at ₹182 apiece, reflecting a grey market premium (GMP) of ₹39 or 27.27 per cent over the upper end of the issue price. Monolithisch India IPO allotment date, listing date Once the subscription window concludes, the basis of allotment for Monolithisch India IPO shares is likely to be finalised on Tuesday, June 17, 2025. The successful allottees will receive the company's shares in their demat accounts by Wednesday, June 18, 2025. Monolithisch India shares are slated to list on the NSE SME, tentatively on Thursday, June 19, 2025. Monolithisch India registrar, lead manager Kfin Technologies serves as the registrar, while Hem Securities acts as the sole book-running lead manager for the offering. Monolithisch India IPO objective Monolithisch India proposes to utilise the proceeds from the public issue for funding capital expenditure towards setting up a manufacturing facility of the company by purchase of land, building of factory shed, civil work, and installation of additional plant and machinery therein. The company further intends to use the proceeds for investment in its subsidiary, Metalurgica India Private Limited, for financing its capital expenditure towards purchase of land, building of factory shed, civil work, and installation of additional plant and machinery therein. The company will also utilise the proceeds to meet working capital requirements, as well as for general corporate purposes. About Monolithisch India Monolithisch India is ISO certified and engaged in the business of manufacturing and supply of specialised ramming mass used as a heat insulation/lining material. The company's products include SGB-777, SLM-999, BG-77, Quartzite Grain SLM-980, and SLM 980. The company is also engaged in the trading of its products on an occasional basis to meet excess and urgent requirements of its customers. The company's product, i.e. specialised ramming mass, is used in the induction furnace to create thermal insulation between the coil of the induction furnace and the molten steel. The melting point of the ramming mass acts as an insulation barrier material between the induction furnace crucible and the molten steel.
Mint
5 days ago
- Business
- Mint
Monolithisch India IPO opens today; check GMP, subscription status, issue details, more
Monolithisch India IPO opens for subscription on Thursday, June 12 and will conclude on Monday, June 16. Monolithisch India IPO price band has been set between ₹ 135 and ₹ 143 per equity share, with a face value of ₹ 10 each. Investors can place bids for a minimum of 1,000 equity shares and in increments of 1,000 shares thereafter. Monolithisch India Limited produces and distributes specialized "ramming mass," a heat-resistant refractory utilised in induction furnaces for the iron and steel sector. The company's range of products includes SGB-777, SLM-999, BG-77, Quartzite Grain SLM -980, and SLM 980. As an ISO certified entity, the company focuses on manufacturing tailored ramming mass for heat insulation, which customers use as a refractory consumable in induction furnaces within iron, steel, and foundry operations. The primary customers of the company are iron and steel manufacturers located in Eastern India, predominantly in West Bengal, Jharkhand, and Odisha. The manufacturing facility is located in Purulia, West Bengal. The number of clients increased from 43 in 2023 to 61 by 2025. Monolithisch India's revenue surged by 41%, while its profit after tax (PAT) jumped by 70% from the financial year ending March 31, 2024, to March 31, 2025. As per the red herring prospectus (RHP), the company's sole listed peer is Raghav Productivity Enhancers Ltd (with a P/E of 88.64 times). Subscription for the public issue will open at 10:00 IST during Thursday's deals. Monolithisch India IPO consists of a fresh issue of 54,48,000 equity shares, aggregating to ₹ 82.02 crore. There is no offer-for-sale (OFS) component. The Monolithisch India IPO intends to use the net proceeds from the offering for several purposes, including financing capital expenditures for establishing the Company's manufacturing facility, making investments in its subsidiary, addressing working capital needs, and covering general corporate expenses. Hem Securities Limited serves as the book-running lead manager for the Monolithisch India IPO, whereas Kfin Technologies Limited acts as the registrar for this offering. The market maker for the Monolithisch India IPO is Hem Finlease Private Limited. Monolithisch India IPO GMP today is +36. This indicates Monolithisch India share price was trading at a premium of ₹ 36 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Monolithisch India share price is indicated at ₹ 179 apiece, which is 25.17% higher than the IPO price of ₹ 143. According to the grey market activities from the last seven sessions, the IPO GMP is trending upward today, suggesting a robust listing. The minimum GMP recorded is ₹ 10.00, while the maximum is ₹ 36, as per the insights from investorgain experts. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
