M&B Engineering IPO Sees Strong Retail Push on Day 1 Subscribed 2.59x in RII Category

Authored By Shishta Dutta | Published at: Jul 30, 2025 07:11 PM IST

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Mumbai, July 30, 2025 — M&B Engineering Limited’s ₹650 crore IPO opened on a promising note today, driven by strong interest from retail investors and employees, though Qualified Institutional Buyers (QIBs) are yet to make a significant move. As of 5:00 PM on Day 1, the overall subscription stood at 0.66 times, with the Retail Individual Investor (RII) portion oversubscribed 2.59 times.

On July 29, the company allotted 75.74 lakh shares to 24 anchor investors, raising ₹291.6 crore

IPO Subscription Status (as of July 30, 5:00 PM)

Category	Shares Offered	Shares Bid	Subscription (x)
Qualified Institutional Buyers (QIBs)	53,11,475	10,640	0.00
Non-Institutional Investors (NIIs)	26,55,737	17,59,286	0.66
Retail Individual Investors (RIIs)	17,70,491	45,82,534	2.59
Employee Reservation	60,606	1,29,846	2.14
Total	97,98,309	64,82,306	0.66

Retail and employee quotas are fully covered, while QIBs are expected to begin bidding in the final days of the issue. Within the NII category:

Bids of ₹2–10 lakh were subscribed 0.77x
Bids above ₹10 lakh were subscribed 0.61x

IPO Snapshot

Detail	Information
IPO Price Band	₹366 – ₹385 per share
Issue Size	₹650 crore
Fresh Issue	₹275 crore
OFS by Promoters	₹375 crore
Lot Size	38 shares
Minimum Investment	₹14,630 (upper band)
Anchor Raised	₹291.60 crore from 24 investors
Issue Closes	August 1, 2025
Listing Date	August 6, 2025

Company Profile

M&B Engineering Limited, headquartered in Ahmedabad, is a prominent player in the pre-engineered buildings (PEB) and steel roofing systems segment. The company operates through two key verticals, Phenix Division – for PEB systems and structural steel solutions and Proflex Division – for self-supported steel roofing. It has modern manufacturing units in Sanand, Gujarat and Cheyyar, Tamil Nadu, with installed capacities of PEB: 103,800 MTPA and Roofing of 1.8 million sq. m. per annum. The company’s clientele spans sectors like industrial infrastructure, manufacturing, logistics, power, textiles, and food processing.

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