Monarch Surveyors & Engineering Consultants Limited, a prominent player in the infrastructure consultancy domain, has launched its ₹93.75 crore initial public offering (IPO) on July 22, 2025. The IPO is a book-built issue, comprising entirely of a fresh issue of 37.50 lakh equity shares, and will remain open till July 24, 2025.

The shares are proposed to be listed on the BSE SME platform, with the tentative listing date set as July 29, 2025.

📊 IPO Details at a Glance

• Issue Type: Book Built

• IPO Size: ₹93.75 Crores

• Fresh Issue: 37.50 Lakh Equity Shares

• Price Band: ₹237 – ₹250 per equity share

• Lot Size: 600 shares

• Minimum Investment (Retail): ₹3,00,000 (2 lots = 1,200 shares at ₹250 each)

• Market Capitalisation at Upper Band: ₹353.9 Crores

Lead Manager: BEELINE CAPITAL ADVISORS PRIVATE LIMITED
Registrar: BIGSHARE SERVICES PRIVATE LIMITED
Market Maker: Spread X Securities Private Limited

🔍 Company Overview

Monarch Surveyors & Engineering Consultants Ltd. is a leading infrastructure consultancy firm offering services across multiple sectors including:

• Transportation

• Urban Planning

• Environmental Engineering

• Water Management

• Industrial Planning

The company has served numerous Indian government agencies, including Railways, Road Authorities, Urban Local Bodies, and several private sector entities. Beyond Indian borders, Monarch has delivered services in Sri Lanka and Bhutan, establishing its reputation as a globally recognised data-driven engineering firm.

The company's services are vital in decision-making processes for various engineering departments, and its work has earned it industry accolades.

👤 Promoter Background

The company is promoted by:

• Mr. Dattatraya Mohaniraj Karpe

• Mr. Sunil Shrikrishna Bhalerao

• Mr. Sanjay Bhalchandra Vidwans

• Mr. Bhartesh Rajkumar Shah

Each of the promoters brings over 25 years of experience in civil engineering consultancy and are well respected in the infrastructure development sector.

💰 Financial Performance Snapshot

The company has displayed impressive revenue and profitability growth, more than doubling its top line in the last three years.

📈 Valuation Metrics

• Pre-Issue EPS (FY24): ₹33.47

• Post-Issue EPS (FY24): ₹24.61

• Pre-Issue P/E Ratio: 7.46x

• Post-Issue P/E Ratio: 10.16x

• Industry P/E Ratio: 20x

• Return on Capital Employed (ROCE): 39.59%

• Return on Equity (ROE): 32.01%

• Return on Net Worth (RoNW): 32.01%

These metrics indicate strong profitability and an undervalued offering, especially when compared to the broader industry valuation multiples.

📦 IPO Objectives

The company plans to use the IPO proceeds for:

1. ₹3,198.89 Lakh for capital expenditure (purchase of advanced machinery)

2. ₹3,000.00 Lakh for working capital needs

3. General Corporate Purposes

This deployment strategy aligns with Monarch’s goal to enhance service delivery capacity and strengthen its financial base.

💹 Grey Market Premium (GMP) & Listing Outlook

• GMP as of July 22, 2025: ₹80

• Expected Listing Price: ₹330 (based on ₹250 issue price + ₹80 GMP)

• Listing Gain Potential: 32%

While GMP is unofficial and unregulated, a strong ₹80 premium reflects market confidence and solid demand for Monarch's IPO.

📈 Subscription Status (Real-Time)

As of 11:30 AM on Day 1 (July 22, 2025):

• IPO is subscribed 6.45 times

• Anchor Investors have already subscribed for ₹26.53 Crores, picking up 10,61,400 shares at the upper price band of ₹250

This strong interest from institutional investors suggests high-quality investor confidence in the company’s prospects.

🗓️ Important Dates

🧾 How to Check IPO Allotment Status

To check the allotment of Monarch Surveyors & Engineering Consultants IPO:

1. Visit Registrar’s IPO Allotment Page (Bigshare Services)

2. Select “Monarch Surveyors & Engineering Consultants Ltd.” from the dropdown

3. Enter your Application Number, PAN, or DP Client ID

4. Click on “Submit” to view your allotment

📝 Verdict – Apply or Avoid?

Considering:

• Consistent financial growth

• Reasonable valuation

• Strong anchor backing

• High investor interest

• Attractive GMP of ₹80

We recommend Investors to “Apply” for Listing Gains. The company’s operational track record, scalable model, and valuation cushion make it a solid SME IPO opportunity.

However, as always, those with a long-term investment horizon should analyse further and assess risk appetite before investing.

Disclaimer:
This analysis is for educational and informational purposes only. It does not constitute investment advice or a solicitation to buy or sell any securities. Investors should perform their own due diligence or consult a SEBI-registered financial advisor before making any investment decisions. All data is based on information available as of the publication date and may be subject to change.

The Upcoming IPOs in this week and coming weeks are Sellowrap Industries, Repono, Shanti Gold International, Indiqube Spaces, GNG Electronics, Brigade Hotel Ventures, Patel Chem Specialities, TSC India, NSDL.

The Current active IPO are Monarch Surveyors & Engineering Consultants, Swastika Castal, Savy Infra.

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