M&B Engineering IPO Sees Strong Retail Push on Day 1 Subscribed 2.59x in RII Category
By Shishta Dutta | Published at: Jul 30, 2025 07:11 PM IST
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.
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
