Mahendra Realtors IPO
Mahendra Realtors IPO
Overview
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 opened for subscription on Aug 12, 2025 and will close on Aug 14, 2025. The allotment for the Mahendra Realtors IPO is expected to be finalized on Aug 18, 2025. Mahendra Realtors IPO will list on NSE SME with a tentative listing date fixed as Aug 20, 2025. Mahendra Realtors IPO price band is set at ₹75.00 to ₹85.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,40,000.00 (3,200 shares). The minimum lot size investment for 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..
Total Shares
58,17,600
Issue Size
₹49.45 Cr
Price Band
₹75 – ₹85
Lot Size
1600 shares
Min. Investment
₹2,72,000
Max. Investment
₹2,72,000
Open Date
12 Aug, 2025
Close Date
14 Aug, 2025
Allotment
18 Aug, 2025
Listing
20 Aug, 2025
Max. Investment
₹2,72,000
Announced
12 Aug, 2025
Opening Date
12 Aug, 2025
Closing Date
14 Aug, 2025
Basis of Allotment
18 Aug, 2025
Initiation of Refunds
19 Aug, 2025
Credit of Shares
19 Aug, 2025
Listing Date
20 Aug, 2025
Live GMP
Est. Listing: ₹75
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About Mahendra Realtors IPO
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
Mahendra Realtors IPO Share Price
Issue Breakdown
Shareholding
Dilution: 27.2% increase in shares
Mahendra Realtors IPO Promoters Holding
Mahendra Realtors IPO Financial Health
Mahendra Realtors IPO Lot Size
Investors can bid for a minimum of 1,600 shares and in multiples of 800 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3200 | ₹2,72,000 |
| Individual investors (Retail) (Max) | 2 | 3200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12800 | ₹10,88,000 |
(All values in CR)
Mahendra Realtors IPO Valuations
The market capitalization of Mahendra Realtors IPO is ₹187.88 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| 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 |
(All values in CR)
Mahendra Realtors IPO Strength & Risk
Mahendra Realtors IPO Strength:
Strong Financial Growth
Revenue grew from ₹63.02 Cr (FY23) to ₹101.49 Cr (FY24); Net Profit rose to ₹11.58 Cr in FY24.Improving Margins
EBITDA margins improved to 16.8%; ROE 23%, ROCE 29.9% in FY24.Low Debt Levels
Debt-to-equity ratio dropped to 0.09 in FY24, indicating a deleveraged balance sheet.Positive PAT Trend
Consistent profitability over the last 3 fiscal years, showing stability.Promoter Commitment
Promoters held nearly 100% pre-IPO, reflecting strong skin in the game.SME IPO Advantage
Small issue size (₹45–50 Cr) could attract niche investors seeking listing gains.
Mahendra Realtors IPO Risk:
No Listing Track Record
First-time public issue with no prior valuation or trading history.Limited Scale
Operates at a small scale (₹100 Cr revenue), limiting investor confidence.High Retail Investment Barrier
Minimum 2 lots required (₹2.72 lakh), may deter small investors.Sectoral Risks
Faces regulatory, execution, and cyclical risks typical of the real estate sector.No Clear Project Pipeline
Lack of visibility on upcoming projects or order book in DRHP.SME Market Illiquidity
Listing on NSE Emerge may result in limited liquidity and low trading volume.
Mahendra Realtors IPO Subscriptions Status
Mahendra Realtors IPO subscribed 25.15 times. The public issue subscribed 25.59 times in the individual investors category, 43.57 times in QIB (Ex Anchor), and 27.02 times in the NII category by August 14, 2025 6:19:59 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Market Maker | 1.00 | 2,91,200 | 2,91,200 | 2.475 |
| QIB (Ex Anchor) | 43.57 | 56,000 | 24,40,000 | 20.74 |
| Non-Institutional Buyers | 27.02 | 27,07,200 | 7,31,55,200 | 621.819 |
| bNII (bids above ₹10L) | 30.46 | 18,04,800 | 5,49,68,000 | 467.228 |
| sNII (bids below ₹10L) | 20.15 | 9,02,400 | 1,81,87,200 | 154.591 |
| Individual Investors (IND category bidding for 2 Lots) | 25.59 | 27,63,200 | 7,07,20,000 | 601.12 |
| Total | 25.15 | 58,17,600 | 14,63,15,200 | 1 |
Mahendra Realtors IPO GMP
Mahendra Realtors was listed on the stock exchange on 2019-10-14 00:00:00. The IPO was subscribed 25.15x. The last GMP for Mahendra Realtors IPO was ₹0, updated on Aug 20th 2025 05:55 AM. As per the last GMP, the expected profit/loss for the IPO was 0.00%. The issue price of Mahendra Realtors IPO () was ₹85.00, listed at a price of ₹68.00, which is -20.00% lower than the allotment price. The expected IPO listing price as per grey market was ₹85, listed below GMP price and marked as negative listing for GMP.
Last updated 20 Aug, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 20 Aug, 2025 | 85 | ₹-10▼ | - | ₹75 (-11.76%) | -16000 | 20 Aug, 2025 |
| 19 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 19 Aug, 2025 |
| 18 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 18 Aug, 2025 |
| 17 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 17 Aug, 2025 |
| 16 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 16 Aug, 2025 |
| 15 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 15 Aug, 2025 |
| 14 Aug, 2025 | 85 | ₹0▼ | - | ₹85 (0.00%) | - | 14 Aug, 2025 |
| 13 Aug, 2025 | 85 | ₹11▲ | 13400 | ₹96 (12.94%) | 17600 | 13 Aug, 2025 |
| 12 Aug, 2025 | 85 | ₹6 | 7300 | ₹91 (7.06%) | 9600 | 12 Aug, 2025 |
| 11 Aug, 2025 | 85 | ₹6 | 7300 | ₹91 (7.06%) | 9600 | 11 Aug, 2025 |
| 10 Aug, 2025 | 85 | ₹6 | 7300 | ₹91 (7.06%) | 9600 | 10 Aug, 2025 |
| 09 Aug, 2025 | 85 | ₹6 | 7300 | ₹91 (7.06%) | 9600 | 09 Aug, 2025 |
| 08 Aug, 2025 | 85 | ₹6▲ | 7300 | ₹91 (7.06%) | 9600 | 08 Aug, 2025 |
| 07 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 07 Aug, 2025 |
| 06 Aug, 2025 | 85 | ₹0 | - | ₹85 (0.00%) | - | 06 Aug, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Mahendra Realtors IPO
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Go to IPO Section
Find Mahendra Realtors IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.