M&B Engineering IPO Subscribed 38.11x on Final Day; QIBs Bid 38.63x, Retail Overshoots 34.36x

Mumbai, August 1, 2025 – M&B Engineering Limited’s ₹650 crore IPO closed today with massive oversubscription across all categories, ending with an overall subscription of 36.20 times. The offering attracted robust institutional participation on the final day, with Qualified Institutional Buyers (QIBs) applying for over 19.5 crore shares, translating to a subscription of 36.72x in that category alone.

Final IPO Subscription Status

• Qualified Institutional Buyers (QIBs): Subscribed 38.63 times. Shares offered were 50,49,351, and total bids reached 19,50,38,078.
• Non-Institutional Investors (NIIs): Subscribed 40.22 times. Against 25,24,675 shares on offer, 10,15,45,918 were bid.
  • bNII (bids above ₹10 lakh): Subscribed 39.68 times with 6,67,80,174 bids for 16,83,117 shares.
  • sNII (bids below ₹10 lakh): Subscribed 41.31 times with 3,47,65,744 bids for 8,41,558 shares.
• Retail Individual Investors (RIIs): Subscribed 34.36 times. Received 5,78,26,994 bids for 16,83,117 shares offered.
• Employees: Subscribed 8.59 times. 4,92,138 bids were placed against 57,307 shares offered.

Day-Wise Subscription

On Day 1 (July 30, 2025), M&B Engineering IPO saw muted response with QIBs at 0.00x, NIIs at 0.70x (bNII 0.64x, sNII 0.81x), retail at 2.77x, and employee portion at 2.26x. Total subscription stood at 0.70x.

On Day 2 (July 31, 2025), interest picked up. QIBs subscribed 0.02x, NIIs at 4.56x (bNII 3.48x, sNII 6.72x), retail at 10.16x, and employees at 3.81x. Overall, the issue was subscribed 3.11x.

On Day 3 (August 1, 2025), the IPO saw strong demand with QIBs at 38.63x, NIIs at 40.22x (bNII 39.68x, sNII 41.31x), retail at 34.36x, and employees at 8.59x. Total final subscription reached 38.11x.

Listing Outlook

The company had already secured ₹291.6 crore from 24 anchor investors, including Abu Dhabi Investment Authority, HDFC Mutual Fund, and Aditya Birla Sun Life. Allotment will be finalized on August 4, 2025, with refunds and Demat credits processed by August 5. Listing is set for August 6 on both BSE and NSE.

About Company

M&B Engineering Limited specializes in pre-engineered buildings (PEBs) and self‑supported steel roofing systems. The company operates through two divisions, Phenix for turnkey PEBs and Proflex for roofing, and has executed over 9,500 projects in India and overseas. It serves industrial sectors such as energy, pharma, manufacturing, and infrastructure, and maintains manufacturing facilities in Gujarat and Tamil Nadu.

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