Bookbuilding IPO | ₹49 Cr | Listed at NSE SME | Tue, Aug 12, 2025 - Thu, Aug 14, 2025
Mahendra Realtors IPO is a book build issue of ₹49.45 crores. The issue is a combination of fresh issue of 0.47 crore shares aggregating to ₹40.17 crores and offer for sale of 0.11 crore shares aggregating to ₹9.28 crores.
Mahendra Realtors IPO bidding started from Aug 12, 2025 and ended on Aug 14, 2025. The allotment for Mahendra Realtors IPO was finalized on Aug 18, 2025. The shares got listed on NSE SME on Aug 20, 2025.
Mahendra Realtors IPO price band is set at ₹85 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,72,000 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,08,000.
Fast Track Finsec Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Mahendra Realtors IPO RHP for detailed Information.
IPO Open
Tue, Aug 12, 2025
IPO Close
Thu, Aug 14, 2025
Issue Price
₹85 per share
Market Cap (Pre-IPO)
₹187.88 Cr
| IPO Date | 12 to 14 Aug, 2025 |
| Listed on | Wed, Aug 20, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹75 to ₹85 |
| Issue Price | ₹85 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 58,17,600 shares (agg. up to ₹49 Cr) |
| Reserved for Market Maker | 2,91,200 shares Rikhav Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 44,35,200 shares (agg. up to ₹38 Cr) |
| Offer for Sale | 10,91,200 shares of ₹10 (agg. up to ₹9 Cr) |
| Net Offered to Public | 55,26,400 shares (agg. up to ₹47 Cr) |
| Share Holding Pre Issue | 1,73,77,500 shares |
| Share Holding Post Issue | 2,21,03,900 shares |
| NSE Symbol | MRIL |
| ISIN | INE632Q01018 |
Mahendra Realtors IPO comprises a total issue size of 58,17,600 shares. The net offer to the public is 55,26,400 shares, after excluding 2,91,200 shares allotted on a firm basis. Of the Net offer 56,000 (1.01%) are allocated to QIB, 27,08,800 (49.02%) allocated to NII 27,61,600 (49.97%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 56,000 | 1.01% | 0.96% |
| NII (HNI) Shares Offered | 27,08,800 | 49.02% | 46.56% |
| − bNII > ₹10L | 18,06,400 | 31.05% | |
| − sNII < ₹10L | 9,02,400 | 15.51% | |
| Retail Shares Offered | 27,61,600 | 49.97% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,91,200 | 5.01% | |
| Total Shares Offered | 58,17,600 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,88,000 |
Incorporated in June 2007, Mahendra Realtors and Infrastructure Limited provides various services, including Structural Repairs, Rehabilitation, Retrofitting, Waterproofing, Corporate Interiors, BOT Projects, Maintenance, Construction, and Infrastructure Restoration.
The company has undertaken several structural repair projects for government departments and public organizations, including CIDCO Vashi and Belapur Railway Stations, using innovative techniques like polymer-modified mortar, micro 138 concrete, and waterproofing. Structural repairs at Ghatkopar secured a Stability Certificate from IIT Bombay, involving steel jacketing, external repairs, and retrofitting. The company has also completed corporate interior projects at IIT Bombay, Airport Authority of India, VVIP Circuit House in Pune, and SVP Hospital in Ahmedabad.
The company has completed 200+ projects for 50+ clients, averaging timely completion.
The company's services include the following-
As of December 31, 2024, the company has ongoing projects in Andhra Pradesh, Delhi, Goa, Gujarat, Maharashtra and Tamil Nadu.
As of September 30 2024, the company has 74 employees in various departments.
Competitive Strength
Mahendra Realtors & Infrastructure Ltd.'s revenue increased by 22% and profit after tax (PAT) rose by 28% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 137.54 | 93.01 | 98.21 |
| Total Income | 128.69 | 105.11 | 66.07 |
| Profit After Tax | 14.87 | 11.58 | 4.04 |
| EBITDA | 21.90 | 17.00 | 9.04 |
| NET Worth | 70.89 | 56.02 | 44.44 |
| Reserves and Surplus | 53.51 | 38.65 | 43.20 |
| Total Borrowing | 27.81 | 16.13 | 43.64 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirement | 30.40 |
| 2 | General Corporate Purposes | 5.36 |
| 3 | Issue Expenses | 4.42 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 23.43% |
| ROCE | 30.56 % |
| Debt/Equity | 0.22 |
| RoNW | 23.43% |
| PAT Margin | 11.91% |
| EBITDA Margin | 17.55% |
| Price to Book Value | 2.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.55 | 6.73 |
| P/E (x) | 9.94 | 12.64 |
| Promoter Holding | 100% | 73.68% |
| Market Cap | ₹187.88 Cr. |
The Mahendra Realtors IPO is subscribed 25.15 times on August 14, 2025 6:19:59 PM (Day 3). The public issue subscribed 25.59 times in the individual investors category, 43.57 times in the QIB category, and 27.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 43.57 | 56,000 | 24,40,000 | 5 |
| NII* | 27.02 | 27,07,200 | 7,31,55,200 | 7,866 |
| bNII (bids above ₹10L) | 30.46 | 18,04,800 | 5,49,68,000 | |
| sNII (bids below ₹10L) | 20.15 | 9,02,400 | 1,81,87,200 | |
| Individual Investors | 25.59 | 27,63,200 | 7,07,20,000 | 22,100 |
| Total | 25.15 | 58,17,600 | 14,63,15,200 | 29,971 |
Total Application : 29,971
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead manager(s) fees including underwriting commission | 0.50 |
| 2 | Underwriting Commission | 0.12 |
| 3 | Fees Payable for Advertising, Publishing and printing Expenses | 0.06 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.07 |
| 5 | Fees Payable to Auditor, Legal Advisors, Banker to the issue and other Professionals and other Intermediaries | 0.08 |
| 6 | Market Maker | 0.03 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees* and Miscellaneous Expenses) | 3.55 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹85.00 |
| Open | ₹68.00 |
| Low | ₹64.60 |
| High | ₹68.00 |
| Last Trade | ₹64.60 |
Lead Manager Reports
Mahendra Realtors IPO is a SME IPO of 58,17,600 equity shares of the face value of ₹10 aggregating up to ₹49 Crores. The issue is priced at ₹85 per share. The minimum order quantity is 1600.
The IPO opens on Tue, Aug 12, 2025, and closes on Thu, Aug 14, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Mahendra Realtors IPO using UPI as a payment gateway. Zerodha customers can apply in Mahendra Realtors IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mahendra Realtors IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mahendra Realtors IPO opens on Tue, Aug 12, 2025 and closes on Thu, Aug 14, 2025.
Mahendra Realtors IPO lot size is 1600, and the minimum amount required for application is ₹2,72,000, with 2 lots being the minimum application size.
You can apply in Mahendra Realtors IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mahendra Realtors IPO will be done on Monday, August 18, 2025, and the allotted shares will be credited to your demat account by Tue, Aug 19, 2025. Check the Mahendra Realtors IPO allotment status.
The Mahendra Realtors IPO listing date is on Wed, Aug 20, 2025.
