M&B Engineering Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹366 - ₹385
- Lot size
- 38 shares
- Issue amount
- ₹650 cr
- Total subscription
- 38.08×
- Opens
- 30 Jul 2025
- Closes
- 1 Aug 2025
- Allotment
- 4 Aug 2025
- Listing
- 6 Aug 2025
Offer at a glance
Issue overview
- Issue size
- 1,68,83,117 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,908
- Fresh issue
- ₹275 cr
- Offer for sale
- ₹375 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,630
- Issue type
- Bookbuilding IPO
- Shares before issue
- 5,00,00,000
- Shares after issue
- 5,71,42,857
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 38 | ₹14,630 |
| sHNI | 14 | 532 | ₹2,04,820 |
| bHNI | 69 | 2,622 | ₹10,09,470 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 44,293 | 13,27,992 |
| HNIs(10L +) | 3,164 | 24,831 |
| HNIs (2-10L) | 1,582 | 63,724 |
| EMPLOYEE | 0 | 6,879 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 194.4 | 7,508.97 |
| RETAIL | 64.8 | 2,218.59 |
| HNIs 2+ | 32.4 | 1,339.1 |
| HNIs 10+ | 64.8 | 2,571.04 |
| EMPLOYEES | 2.21 | 18.98 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 15.41 | 9.17 | 6.82 |
| ROE | 25.13 | 19.68 | 18.89 |
| ROCE | 24.8 | 19.17 | 19.7 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
M\&B Engineering Limited, established in 1981, is involved in the business of pre-engineered buildings (PEBs) and self-supported steel roofing solutions. The company designs, manufactures, and installs steel roofing systems across India, offering end-to-end services including design, engineering, production, and testing to deliver safe and high-performance structures. Their expertise lies in pre-engineered buildings, structural steel, and steel roofing, catering to a wide range of sectors such as general engineering, manufacturing, food and beverages, warehousing, logistics, power, textiles, and railways. M\&B Engineering operates two manufacturing units—one in Sanand, Gujarat (established in 2008) and another in Cheyyar, Tamil Nadu (set up in 2024), with a combined PEB production capacity of 103,800 metric tons per annum. Since 2010, the company has exported its products to 22 countries, including the USA, Brazil, South Africa, Qatar, Sri Lanka, Morocco, Nigeria, Kenya, and Seychelles. The company functions through two divisions. The Phenix Division offers integrated manufacturing services for PEBs, using modern technology and equipment to ensure quality and cost-efficiency. The Proflex Division specializes in on-site production and installation of self-supported steel roofing, using mobile units to manufacture panels, seam them, and install them after the civil structure is ready. Together, both divisions have completed over 9,500 projects by Fiscal 2025. In terms of products, the Phenix Division manufactures primary structural components like frames and columns, secondary elements such as purlins and girts, as well as claddings like pre-painted galvalume sheets and standing seam roofs. The Proflex Division provides roofing solutions for different types of structures, including those with reinforced cement concrete, steel frameworks, and L-section roofs.
Strengths
- Top Player in Roofing & Pre-Engineered Buildings: The company is one of India’s leading names in Pre-Engineered Buildings with a capacity of 103,800 MTPA. It is also the largest revenue generator in self-supported steel roofing with a 75% market share as of FY24.
- Impressive Financial Growth: Between FY22 and FY24, the company recorded one of the highest growth rates among its peers, with 38.0% CAGR in OPBDIT and 67.3% CAGR in PAT.
- Efficient and Scalable Operations: It operates strategically located PEB facilities with full in-house design and engineering capabilities, along with 14 mobile roofing units, allowing smooth and flexible project execution across regions.
Risk factors
- Operations Depend on Key Manufacturing Units: Any disruption at the Sanand or Cheyyar plants — due to labor issues, equipment failure, power cuts, diseases, or political instability — could negatively affect the company’s operations, cash flow, and financial results.
- Strict Quality Requirements from Customers: Not meeting high quality or performance standards may lead to order cancellations, penalties, recalls, or harm to the company’s reputation, directly impacting its business.
- Possible Conflict of Interest with Management: Some promoters and directors have ties to similar businesses, and a few subsidiaries work in the same field, which may cause conflicts of interest, even though internal checks are in place.
Promoters
Girishbhai Manibhai Patel
Chirag Hasmukhbhai Patel
Malav Girishbhai Patel
Birva Chirag Patel
Vipinbhai Kantilal Patel
Aditya Vipinbhai Patel
Leenaben Vipinbhai Patel
Chirag H Patel Family Trust
Vipin K Patel Family Trust
MGM5 Family Trust
MGM11 Family Trust
Aditya V Patel Family Trust
Registrar & documents
Lead manager
Equirus Capital Private Limited, Dam Capital Advisors Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
MB House, 51, Chandrodaya Society, Opp. Golden Triangle, Stadium Post Navjivan, Ahmedabad, Gujarat, 380014
+91 79- 264637
[email protected]Company website ↗Understanding MBEL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.