Monarch Surveyors & Engineering Consultants Ltd. is an infrastructure consultancy firm providing end-to-end engineering and design solutions across sectors like transportation, urban planning, environment, water, and industry. With experience spanning across India, Sri Lanka, and Bhutan, the company has played a significant role in shaping the infrastructure landscape through data-driven engineering practices.

IPO Details and Key Dates

The IPO of Monarch Surveyors and Engineering Consultants Limited is a Book Built Issue worth ₹93.75 Crores, comprising only a fresh issue of 37.5 lakh equity shares.

• IPO Opening Date: July 22, 2025

• IPO Closing Date: July 24, 2025

• Allotment Date: July 25, 2025 (Friday)

• Expected Listing Date: July 29, 2025 (Tuesday)

• Listing Exchange: BSE SME

• Price Band: ₹237 to ₹250 per share

• Lot Size: 600 shares

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

• Market Capitalisation at upper band: ₹353.9 Crores

Beeline Capital Advisors Pvt. Ltd. is the Book Running Lead Manager, while Bigshare Services Pvt. Ltd. acts as the Registrar to the Issue, and Spread X Securities Pvt. Ltd. is the Market Maker.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) of Monarch Surveyors IPO is ₹80, as last updated on 19 July 2025. Based on the upper band of ₹250, this translates into an expected listing price of ₹330, which is a 32% gain. While GMP reflects investor sentiment, it is unofficial and unregulated, and actual gains depend on demand-supply forces on the listing day.

IPO Subscription Status

As of 11:00 AM on July 23, 2025, the IPO has been subscribed 21.83 times, indicating strong interest from investors.

The IPO has also raised ₹26.53 Crores from Anchor Investors by allocating 10,61,400 equity shares at ₹250 apiece. Anchor investments are a sign of institutional confidence in the company’s future potential.

Company Background and Business Model

Founded by Mr. Dattatraya Mohaniraj Karpe, Mr. Sunil Shrikrishna Bhalerao, Mr. Sanjay Bhalchandra Vidwans, and Mr. Bhartesh Rajkumar Shah, the firm has over 25 years of expertise in civil engineering consulting. It has served multiple government and private sector clients and contributed to infrastructure decision-making with award-winning solutions.

The company’s services include:

• Feasibility studies

• Detailed project reports

• Geotechnical investigations

• Traffic surveys

• Topographical and alignment surveys

• Environmental and social impact assessments

Financial Performance Snapshot

Over the last three fiscal years, Monarch Surveyors has shown strong financial growth:

This steady increase in revenue and profit signals operational efficiency and market demand for the company’s services.

Key Financial Ratios

• 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 Average 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 numbers indicate that the IPO is attractively priced compared to the industry and that the company delivers high capital efficiency.

IPO Utilisation of Funds

The company intends to use the net proceeds from the IPO as follows:

1. ₹3,198.89 Lakh for capital expenditure, primarily for the purchase of new machinery to enhance service capabilities.

2. ₹3,000.00 Lakh towards working capital requirements for smooth day-to-day operations and project financing.

3. Remaining funds to be used for general corporate purposes, including business expansion and brand enhancement.

Anchor Investor Allocation

The Anchor Book was successfully closed with ₹26.53 Crore raised. Prominent institutions have shown confidence in the firm by subscribing at the upper price band of ₹250.

GMP Trend and Market Sentiment

Though GMP trends change daily and aren't always reliable, the consistent premium implies positive market sentiment towards the IPO.

Allotment and Listing Process

To check the Monarch Surveyors IPO allotment status:

• Go to the registrar's website (Bigshare Services)

• Select the IPO from the dropdown menu

• Enter your Application Number, PAN, or DP Client ID

• Click Submit to view your allotment status

Shares are expected to be listed on BSE SME platform on July 29, 2025.

Should You Subscribe?

Considering the company’s strong financials, efficient management, and robust return ratios, the IPO seems fairly priced and offers potential for listing gains. The ₹80 GMP further strengthens investor confidence.

Key reasons to consider subscribing:

• Profitable and growing operations

• Attractive valuations compared to industry

• High RoCE and RoE figures

• Diversified client base across sectors and countries

• Institutional backing through anchor investors

However, like all SME IPOs, liquidity could be lower than mainboard issues, and investors should assess risk appetite accordingly.

Conclusion

Monarch Surveyors and Engineering Consultants Ltd. stands out in the SME space due to its proven track record, growing financial performance, and experienced leadership. The IPO has generated strong investor interest, with a Day 2 subscription of 21.83 times and a GMP pointing toward 32 percent premium listing.

For investors seeking exposure to infrastructure consulting with potential for short-term gains and long-term growth, this IPO is worth considering.

Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice or an investment recommendation. All investors should seek professional advice before investing. Market investments carry risks, and past performance is not indicative of future results.

The Upcoming IPOs in this week and coming weeks are Takyon Networks, Mehul Colours, Aditya Infotech, Sri Lotus Developers & Realty, Lakshmi India Finance, Jyoti Global Plast, B.D. Industries (Pune), Kaytex Fabrics, Umiya Mobile, Shree Refrigerations, Sellowrap Industries, Repono, Shanti Gold International, Patel Chem Specialities, NSDL.

The Current active IPO are Brigade Hotel Ventures, Indiqube Spaces, GNG Electronics, TSC India, Monarch Surveyors & Engineering Consultants.

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