Mahendra Realtors & Infrastructure Limited, formerly known as Mahendra Realtors & Infrastructure Private Limited, is a leading Mumbai-based construction company established in 2007. Over the years, it has gained strong recognition for its turnkey projects and contracting expertise, delivering more than 500 high-quality projects across India. The company is well-regarded for timely delivery, modern construction technologies, and superior craftsmanship, setting it apart in a competitive industry.

IPO Details

The Mahendra Realtors & Infrastructure IPO is a Book Built Issue worth ₹49.45 crore. This includes a Fresh Issue of 47.26 lakh shares amounting to ₹40.17 crore and an Offer for Sale of 10.91 lakh shares worth ₹9.27 crore. The subscription period for the IPO opened on August 12, 2025, and will close on August 14, 2025. The allotment will be finalized on or around August 18, 2025, with listing scheduled for August 20, 2025, on the NSE SME platform.

The price band is set at ₹75–₹85 per equity share. At the upper band of ₹85, the company’s market capitalization will be ₹187.88 crore. The lot size is 1,600 shares, with a minimum investment requirement of two lots (3,200 shares), translating to ₹2,72,000 for retail investors.

FAST TRACK FINSEC PRIVATE LIMITED is the book running lead manager, MUFG INTIME INDIA PRIVATE LIMITED is the registrar, and Rikhav Securities Limited is the market maker for this IPO.

Grey Market Premium (GMP) and Subscription Status

The Grey Market Premium for the Mahendra Realtors IPO is reported at ₹9, indicating a potential listing gain of around 10.78%. However, it is important to note that GMP is unofficial and depends entirely on demand and supply in the unregulated market—it is not a reliable predictor of listing performance.

As of 11:00 AM on August 13, 2025, the IPO had been subscribed 0.29 times on the second day of the subscription period, based on data from NSE.

GMP Trend:

How to Check IPO Allotment Status

Investors can check their allotment status for the Mahendra Realtors IPO from August 18, 2025 onwards by:

1. Visiting the IPO allotment status page of the registrar.

2. Selecting Mahendra Realtors & Infrastructure Limited IPO from the list.

3. Entering the application number, PAN, or DP Client ID.

4. Submitting the details to view the allotment status.

Company Background & Promoters

The company is led by Hemanshu Shah, with 18 years of experience in infrastructure, civil construction, redevelopment, and BOT projects. Bhavesh Mahendrakumar Shah brings over 17 years of similar experience. Other key promoters include Hetal Bhavesh Shah, Chandrika Mahendra Shah, and Varsha Hemanshu Shah.

Financial Performance

Mahendra Realtors has demonstrated consistent growth:

• Revenue from operations: ₹12,869.25 lakh (FY25), ₹10,510.96 lakh (FY24), ₹6,606.63 lakh (FY23)

• EBITDA: ₹2,189.89 lakh (FY25), ₹1,699.67 lakh (FY24), ₹903.59 lakh (FY23)

• Profit After Tax (PAT): ₹1,486.63 lakh (FY25), ₹1,157.83 lakh (FY24), ₹404.12 lakh (FY23)

Key ratios:

• Pre-issue EPS: ₹8.55 | Post-issue EPS: ₹6.73 (FY24)

• Pre-issue P/E: 9.94x | Post-issue P/E: 12.64x | Industry P/E: 38x

• ROCE: 30.56% | ROE: 23.43% | RoNW: 23.43%

These figures indicate that the IPO is fairly valued compared to the industry average.

IPO Objectives

The net proceeds from the IPO will be used for:

1. Working capital requirements – ₹3,040.00 lakh

2. General corporate purposes

3. Issue expenses

Investment Recommendation

Given the company’s strong growth record, healthy financials, and reasonable valuation, the IPO may appeal to risk-tolerant investors looking for potential listing gains. However, as the GMP is only indicative, investors should base their decisions on fundamental strength rather than market sentiment

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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