Mahendra Realtors & Infrastructure Limited is all set to debut in the stock market with its upcoming IPO. The Mahendra Realtors IPO will open for bidding on 12th August 2025 and close on 14th August 2025. With a bookbuilding issue worth ₹49.45 crore, the IPO includes both fresh issues and an offer for sale. This article provides a complete overview of Mahendra Realtors IPO, covering everything from IPO details, GMP trends, subscription status, financials, and bidding requirements to a final investment outlook.
Mahendra Realtors IPO Details
The IPO consists of a fresh issue of 47.26 lakh shares and an offer for sale (OFS) of 10.91 lakh shares, aggregating a total of 58.17 lakh shares.
- IPO Open Date: 12th August 2025
- IPO Close Date: 14th August 2025
- Allotment Date: 18th August 2025
- Refund Initiation: 19th August 2025
- Listing Date: 20th August 2025 (NSE & SME)
- Face Value: ₹10 per share
- Price Band: ₹75 – ₹85 per share
- Lot Size: 1,600 Shares
- Issue Type: Bookbuilding IPO
Registrar: MUFG India Private Limited
Share Reservation Structure
| Investor Category | Shares Offered |
|---|---|
| QIB | Not more than 50% of the offer |
| Retail | Not less than 35% of the offer |
| NII (HNI) | Not less than 15% of the offer |
Mahendra Realtors IPO GMP (Grey Market Premium)
As of 8th August 2025, the GMP for Mahendra Realtors IPO is ₹6.00 per share. The estimated listing price is ₹91.00, reflecting potential listing gains of 7.06%.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Listing Gain % |
| 08-08-25 | ₹85.00 | ₹6.00 | ₹91.00 | 7.06% |
| 07-08-25 | ₹85.00 | ₹0.00 | ₹85.00 | 0.00% |
| 06-08-25 | ₹85.00 | ₹0.00 | ₹85.00 | 0.00% |
Note: GMP is speculative and may vary with market sentiments.
GMP Review
The slight increase in GMP indicates marginal positive investor sentiment. However, this must be complemented with financial and technical analysis for a robust investment decision.
Financial Health
The financial trajectory of Mahendra Realtors & Infrastructure Limited shows an upward trend in revenue but fluctuating PAT figures.
| Year | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA (₹ Cr) | Net Worth (₹ Cr) |
| 2025 | 128.69 | 14.87 | 21.90 | 70.89 |
| 2024 | 105.11 | 11.58 | 17.00 | 56.02 |
| 2023 | 66.07 | 4.04 | 9.04 | 44.44 |
Key Observations:
- 22% YoY revenue growth in FY25
- PAT growth from ₹4.04 Cr (2023) to ₹14.87 Cr (2025)
- Debt has increased from ₹16.13 Cr in FY24 to ₹27.81 Cr in FY25
Technical Analysis
| Metric | Value |
| PE Ratio (Pre-IPO) | 9.94 |
| PE Ratio (Post-IPO) | 12.64 |
| EPS (Pre-IPO) | 8.55 |
| EPS (Post-IPO) | 6.73 |
| RoNW | 23.43% |
| ROCE | 30.56% |
| ROE | 23.43% |
| EBITDA Margin | 17.55% |
| Price to Book Value | 2.08 |
| Market Cap | ₹187.88 Cr |
Peer Comparison
| Company Name | EPS | P/E Ratio | RoNW | Revenue (₹ Cr) |
| Mahendra Realtors | 8.55 | 9.94 | 23.43% | 105.11 |
| A B Infra Build Ltd | 3.36 | 53.54 | 0.17% | 184.00 |
| Maruti Infrastructure Ltd | 0.07 | -199.43 | 0.07% | 38.75 |
Mahendra Realtors fares better in key financial ratios than its peers, indicating stronger fundamentals.
Subscription Status (To be updated post bidding period)
| Investor Category | Shares Offered | Shares Subscribed | Times Subscribed |
| QIB | TBD | TBD | TBD |
| Retail | TBD | TBD | TBD |
| NII (HNI) | TBD | TBD | TBD |
Company Overview
Founded in 2007, Mahendra Realtors & Infrastructure Limited is engaged in construction, retrofitting, waterproofing, and repairs. It has catered to government and public sector clients using modern techniques and timely delivery.
Key Strengths:
- On-time project completion
- Strategic partnerships with public organizations
- Strong technical know-how
- Good financial documentation
Promoter Holding
| Promoter | Pre-Issue Holding | Post-Issue Holding |
| Hemanshu Shah & Family | 100% | 73.68% |
Equity dilution post-IPO is ~26.32%.
IPO Objectives
The IPO aims to raise ₹49.45 crore for the following:
- General corporate purposes
- Working capital requirements
- Issue-related expenses
Bidding Requirements
| Investor Type | Lots | Shares | Investment (₹) |
| Retail (Min/Max) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,88,000 |
How to Apply for the Mahendra Realtors IPO?
- Research the IPO thoroughly: GMP, subscription, issue details.
- Open a demat account (if not already done).
- Navigate to the IPO section and place a bid (min 2 lots = 3,200 shares).
- Approve the mandate request.
- Apply through multiple demat accounts for better chances.
How to Check IPO Allotment Status?
On NSE Website:
- Visit NSE official portal
- Navigate to IPO Allotment section
- Enter PAN/Application Number
On Registrar Portal:
- Visit MUFG India website
- Click on IPO Allotment
- Fill in your details to check status
Pros of Investing in Mahendra Realtors IPO
- Strong market presence in infrastructure
- Well-managed project execution & quality
- Relationships with government/public bodies
- Positive revenue growth
- Healthy RoNW and ROCE ratios
Cons
- Over-reliance on Maharashtra region
- Concentrated client base
- Limited brand awareness
- High fund requirement to scale
Final Verdict: Should You Invest?
Mahendra Realtors IPO shows a promising financial background, consistent revenue growth, and strong profitability metrics. While the GMP suggests marginal listing gains, the company’s fundamentals, government contracts, and technicals are favorable for long-term investors. However, the regional dependency and branding limitations should be considered.
Investors with a moderate-to-high-risk appetite may consider applying for the IPO, particularly for long-term value rather than speculative listing gains.
FAQs
Q1. What is the Mahendra Realtors IPO price band?
A: The price band is ₹75 – ₹85 per share.
Q2. When will Mahendra Realtors IPO list on NSE?
A: Tentative listing date is 20th August 2025.
Q3. Is the Mahendra Realtors IPO good for investment?
A: Yes, for long-term investors based on financial stability.
Q4. What is the GMP of Mahendra Realtors IPO?
A: As of 8th August 2025, the GMP is ₹6.
Q5. What is the lot size for Mahendra Realtors IPO?
A: 1,600 shares per lot. Minimum bid is 2 lots (3,200 shares).
