Monolithisch India Limited is entering the capital markets with a book-built IPO worth ₹82.02 crore, consisting entirely of a fresh issue of 57.36 lakh equity shares. The IPO opens on June 12, 2025, and closes on June 16, 2025. Shares are expected to be listed on NSE SME on June 19, 2025, with the allotment to be finalized by June 17, 2025.

About the Company

Monolithisch India is a manufacturer and supplier of specialized ramming mass, a key heat insulation and refractory lining material. It is primarily used in induction furnaces in iron, steel, and foundry plants. The company also trades its products occasionally to meet urgent client demand.

The company is led by Chairman Mr. Prabhat Tekriwal, who brings over 36 years of experience in the business. Managing Director Mr. Harsh Tekriwal, who holds dual degrees in mechanical engineering and business administration, is responsible for day-to-day operations and strategic growth.

IPO Details

• IPO Open Date: June 12, 2025

• IPO Close Date: June 16, 2025

• Price Band: ₹136 to ₹143 per share

• Issue Size: ₹82.02 crore

• Fresh Issue: Entirely fresh issue of 57.36 lakh shares

• Lot Size: 1,000 shares

• Minimum Retail Investment: ₹1,43,000

• Minimum HNI Investment: ₹2,86,000 (2 lots)

• Lead Manager: HEM Securities Ltd

• Registrar: KFin Technologies Ltd

• Market Maker: Hem Finlease Pvt Ltd

• Listing Platform: NSE SME

• Tentative Listing Date: June 19, 2025

At the upper end of the price band (₹143), the company's post-issue market capitalization is estimated to be around ₹310.82 crore.

Objectives of the IPO

The company plans to utilize the net proceeds for:

1. ₹1,657.77 lakh towards setting up a new manufacturing facility including land, factory shed, and machinery.

2. ₹2,789.67 lakh to invest in its subsidiary, Metalurgica India Pvt Ltd, for similar capex plans.

3. ₹2,000 lakh towards working capital requirements.

4. Remaining for general corporate purposes.

Financial Performance Overview

Monolithisch India has delivered consistent growth over the last four years:

*FY25 data is as of March 31, 2025 (not audited annual but management reviewed).

The figures indicate more than 4x growth in revenues over the span of 3 years, backed by corresponding profitability improvement.

Key Valuation Metrics

• Pre-issue EPS (FY24): ₹9.11

• Post-issue EPS (FY24): ₹6.67

• Pre-issue P/E Ratio: 15.69x

• Post-issue P/E Ratio: 21.45x

• Industry Average P/E: ~89x

• ROCE (FY24): 46.22%

• ROE (FY24): 53.94%

• RoNW (FY24): 41.15%

The IPO seems fairly valued considering the robust ROCE and ROE metrics and significantly lower P/E compared to industry standards.

Grey Market Premium (GMP)

As of June 6, 2025, Monolithisch India IPO is quoting a GMP of ₹12, implying an expected listing price of ₹155, which is ~8.39% premium over the upper price band.

Please note: GMP is unofficial, and actual listing may vary. It is only indicative, based on sentiment in the unregulated grey market.

IPO Allotment: How to Check

The allotment will be available on KFin Technologies’ website by June 17, 2025. To check:

1. Visit the IPO allotment page of KFintech.

2. Select “Monolithisch India Limited” from the dropdown.

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

4. Click Submit to view allotment status.

Monolithisch India IPO Subscription Status

The subscription opens on June 12, 2025. Live updates on investor interest across categories (retail, HNI, institutional) will be tracked during the period.

Recommendation: Apply for Listing Gains

Given the following:

• Strong historical financial performance

• Reasonable valuation with high ROCE and ROE

• Presence of real demand, reflected in positive GMP

• Good industry outlook for specialized refractory materials in metallurgical manufacturing

We recommend investors to Apply for listing gains.

However, as with all SME IPOs, investors should consider liquidity risks and allotment uncertainty, and review their own risk appetite before applying.

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.

The Upcoming IPOs in this week and coming weeks are Eppeltone Engineers, Aten Papers, Patil Automation, Oswal Pumps, Samay Projects Services, Monolithisch India.

The Current active IPO are Jainik Power Cables, Sacheerome Limited.

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