Mahendra Realtors & Infrastructure SME IPO Opens: Price Band, Dates, GMP, and Key Details {update}

Subscription Status on Day 1

On the first day of bidding, the IPO saw a slow start. The overall subscription stood at 0.06 times. The retail categorywas subscribed around 0.11 times, while the Non-Institutional Investor (NII) category received about 0.01 timessubscription. No bids were recorded in the Qualified Institutional Buyers (QIB) category on Day 1. Market watchers believe that subscriptions may pick up in the coming days, as often seen with SME IPOs.

Grey Market Premium (GMP)

The Grey Market Premium for the IPO is currently around ₹6. This indicates an expected listing price of about ₹91 per share, which is nearly 7% higher than the upper end of the price band. However, investors are reminded that GMP is unofficial and can change quickly depending on market sentiment.

Important Dates and Listing

The allotment of shares is expected to be finalized on August 18, 2025. Refunds and credit of shares to Demat accounts are likely to happen on August 19, 2025. The shares are scheduled to be listed on the NSE SME platform on August 20, 2025.

Use of Funds

The company plans to utilize the IPO proceeds mainly for working capital requirements, with an allocation of about ₹30.4 crore for this purpose. The remaining funds will be used for general corporate purposes and to cover issue-related expenses.

Company Profile

Mahendra Realtors & Infrastructure Limited is engaged in various infrastructure-related services. These include structural repairs, rehabilitation, retrofitting, waterproofing, interiors, Build-Operate-Transfer (BOT) projects, and restoration of infrastructure. The company has successfully completed more than 200 projects for over 50 clients.

Its client list includes major government bodies such as CIDCO, IIT Bombay, Indian Railways, and the Airport Authority of India. The company’s projects span across different types of buildings and infrastructure facilities, reflecting its expertise and reliability in the sector.

Market Outlook

Analysts believe the company operates in a niche area with steady demand, especially in infrastructure maintenance and restoration. However, the high minimum investment requirement for retail investors could limit participation from small investors. The IPO’s success will depend on subscription momentum in the next two days.

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