Monarch Surveyors IPO Gets 91.93 Times Subscription Applications by Start of Day 3

Mumbai, 24 July 2025: The public issue of Monarch Surveyors Ltd continued to see high levels of investor interest on Day 3 of bidding, with the IPO subscribed 91.93 times as of 10:54 AM today. Retail investor participation remained the most active segment, with the individual investor category subscribed 125.10 times, followed by Non-Institutional Investors (NIIs) at 119.40 times, and Qualified Institutional Buyers (QIBs) at 13.14 times.

Retail Category Sees Highest Demand as Subscription Builds Momentum

Retail investors led Monarch Surveyors IPO  bidding activity with demand exceeding over 15.52 crore shares against an available quota of 12.40 lakh shares. The NII segment also saw substantial engagement, particularly from bidders placing applications above ₹10 lakh (bNII), where the category was subscribed 135.08 times, while bids under ₹10 lakh (sNII) saw a subscription of 89.19 times. In contrast, institutional investors in the QIB segment had submitted bids for 93.04 lakh shares so far, against 7.08 lakh shares reserved for the category.

Day-Wise Subscription Reflects Progressive Investor Interest

Investor interest in Monarch Surveyors IPO grew steadily over the three-day bidding period. On Day 1 (22 July), the IPO saw a total subscription of 18.36 times, which further rose to 67.33 times by Day 2 (23 July). As of the morning of Day 3 (24 July), total subscription reached 91.93 times, with several hours of bidding still left before closure at 5:00 PM today. Individual investors have remained the most active participants throughout the bidding window.

Anchor Investors Committed ₹26.54 Crore Ahead of Opening

Ahead of the IPO launch, Monarch Surveyors allotted 10.61 lakh shares to anchor investors at ₹250 per share on 21 July 2025, raising ₹26.54 crore. The anchor investment segment, which remains locked in for at least 30 to 90 days, comprises 22.06% of the total issue size and marked the initial interest in the offering.

IPO Structure and Offer Allocation

The IPO is entirely a fresh issue of 37.5 lakh shares amounting to ₹93.75 crore.

• Anchor Investors: 10.61 lakh shares
• QIBs: 17.69 lakh shares (47.18%)
• NIIs: 5.32 lakh shares (14.21%)
• Retail Investors: 12.40 lakh shares (33.09%)
• Market Maker: 2.07 lakh shares (Spread X Securities Pvt Ltd)

The face value of shares is ₹10 each, and the issue price is ₹250 per share. Investors can bid in lots of 600 shares.

IPO Timeline at a Glance

• Anchor Allotment: 21 July 2025
• IPO Opens: 22 July 2025
• IPO Closes: 24 July 2025 (today)
• Allotment Date: 25 July 2025
• Refund Initiation: 26 July 2025
• Demat Credit: 27 July 2025
• Listing Date (BSE SME): 29 July 2025

Offer Structure: Allocation Across Investor Segments

Out of the total 37.5 lakh shares on offer, 12.40 lakh shares (33.09%) are reserved for retail investors, 5.32 lakh shares (14.21%) for NIIs, and 17.69 lakh shares (47.18%) for QIBs. An additional 10.61 lakh shares were allocated to anchor investors, while 2.07 lakh shares are set aside for the market maker. Spread X Securities Pvt Ltd is acting as the market maker for the issue.

Financial Growth Reflects Monarch Surveyors’ Expanding Scale and Stability

Monarch Surveyors & Engineering Consultants Ltd. has demonstrated strong financial performance over the last three fiscal years, based on consolidated restated financials. For the year ended 31 March 2025, revenue rose to ₹155.66 crore from ₹141.27 crore in FY24, marking a 10% increase. Profit after tax grew by 16% year-on-year, reaching ₹34.83 crore. EBITDA stood at ₹51.10 crore, while net worth increased significantly to ₹108.80 crore. The company also maintained healthy reserves of ₹98.40 crore, with moderate total borrowings at ₹14.29 crore—reflecting prudent financial management alongside consistent operational expansion.

Company Profile: Niche Services in Valuation, Advisory and Insurance Survey

Established in 2007, Monarch Surveyors and Engineering Consultants Ltd is engaged in engineering-based valuation, chartered engineering certifications, insurance surveys, loss assessment, and technical due diligence. The company serves banks, NBFCs, insurers, and government agencies across India. With a team of over 300 professionals and a pan-India reach, Monarch offers more than 15 service categories under regulatory compliance.

Investors are advised to ensure that their UPI mandates (for retail applications) are approved by 5 PM today to ensure valid participation. Final subscription figures will be updated after reconciliation of all bids and UPI status by the end of the day.

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