The Monarch Surveyors & Engineering Consultants Limited IPO opens for public bidding from 22nd July 2025 to 24th July 2025. It is a bookbuilding IPO worth ₹93.75 crores, comprising a fresh issue of 37.50 lakh equity shares. The company has fixed its price band at ₹237 to ₹250 per share with a lot size of 600 shares.
Monarch Surveyors IPO is set to list on the BSE and SME platforms with a tentative listing date of 29th July 2025. With an established track record in civil engineering consultancy services and solid financials, the IPO has garnered considerable attention in the grey market.
This comprehensive article explores Monarch Surveyors IPO details, GMP trends, subscription data, financial health, allotment process, and more, helping you make an informed investment decision.
Monarch Surveyors IPO Key Dates and Details
| Event | Date |
|---|---|
| IPO Open Date | 22nd July 2025 |
| IPO Close Date | 24th July 2025 |
| IPO Allotment Date | 25th July 2025 |
| Refund Initiation Date | 28th July 2025 |
| IPO Listing Date | 29th July 2025 |
| Price Band | ₹237 – ₹250 per share |
| Lot Size | 600 shares |
| Minimum Investment | ₹3,00,000 |
| Issue Size | ₹93.75 crores |
| Face Value | ₹10 per share |
| Registrar | Accurate Securities & Registry Pvt. Ltd. |
| Listing Exchange | BSE & SME |
The issue is a fresh equity offering only, with no Offer for Sale (OFS), ensuring all proceeds go to the company.
Monarch Surveyors IPO Share Reservation
The total offering of 37,50,000 shares is divided across investor categories as per SEBI norms:
| Category | Shares Offered | Percentage |
|---|---|---|
| Market Maker | 2,07,000 | 5.52% |
| QIB (Institutions) | 17,69,400 | 47.18% |
| NII (HNI) | 5,32,800 | 14.21% |
| Retail | 12,40,800 | 33.09% |
| Total | 37,50,000 | 100% |
The well-balanced reservation ensures adequate participation across all investor segments, including retail and institutional.
Monarch Surveyors IPO GMP (Grey Market Premium)
The GMP for Monarch Surveyors IPO has remained steady in recent days, indicating strong investor sentiment.
| Date | GMP | IPO Price | Estimated Listing Price | Estimated Gain |
|---|---|---|---|---|
| 21 July 2025 | ₹135 | ₹250 | ₹385 | 54.00% |
| 20 July 2025 | ₹135 | ₹250 | ₹385 | 54.00% |
| 19 July 2025 | ₹135 | ₹250 | ₹385 | 54.00% |
| 18 July 2025 | ₹150 | ₹250 | ₹400 | 60.00% |
| 17 July 2025 | ₹150 | ₹250 | ₹400 | 60.00% |
While GMP is not a guarantee of listing price, it reflects market sentiment and demand expectations for the IPO. A consistent GMP of ₹135 suggests a strong potential listing premium.
Monarch Surveyors Financial Performance
The company’s financials have been on a growth trajectory, both in revenue and profitability.
Revenue and Profit Trend
| Financial Year | Revenue (₹ Cr) | PAT (₹ Cr) |
|---|---|---|
| FY2025 | ₹155.66 | ₹34.83 |
| FY2024 | ₹141.27 | ₹30.01 |
| FY2023 | ₹72.72 | ₹8.59 |
Balance Sheet Highlights
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Assets | ₹148.06 Cr | ₹102.12 Cr | ₹64.51 Cr |
| Net Worth | ₹108.80 Cr | ₹73.97 Cr | ₹43.96 Cr |
| Reserves & Surplus | ₹98.40 Cr | ₹73.88 Cr | ₹43.88 Cr |
| Borrowing | ₹14.29 Cr | ₹12.96 Cr | ₹8.37 Cr |
The revenue has grown over 114% between FY23 and FY25, and profit after tax has increased over 300% in the same period, indicating a stable and scalable business model.
Key Ratios and Technicals
| Indicator | Pre-IPO | Post-IPO |
|---|---|---|
| PE Ratio | 7.47 | 10.16 |
| EPS (₹) | 33.47 | 24.61 |
| RoNW | 32.01% | N/A |
| ROCE | 39.59% | N/A |
| Price to Book Value | 2.39 | N/A |
| EBITDA Margin | 33.51% | N/A |
| Market Capitalization | ₹353.90 Cr | N/A |
The pre-issue PE ratio of 7.47 indicates that the IPO is reasonably priced compared to sector averages, making it attractive for value investors.
About the Company
Founded in 1999, Monarch Surveyors & Engineering Consultants Limited is a civil engineering consultancy firm engaged in:
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Topographic Surveys
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Project Management
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GIS Mapping
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Feasibility Studies
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Land Acquisition Support
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Engineering Design and Consultancy
It operates in sectors like railways, roads, oil & gas, and infrastructure. With an experienced management team and strong client base, the company is well-positioned for long-term growth.
IPO Objective and Utilization of Funds
The IPO aims to raise ₹93.75 crores for:
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Purchasing advanced machinery and equipment
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Meeting incremental working capital requirements
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General corporate purposes
This capital infusion is likely to strengthen operational capacity and enable the company to take on larger projects across India.
IPO Lot Size and Investment Details
| Category | Lots | Shares | Investment (₹) |
|---|---|---|---|
| Retail Min & Max | 2 | 1,200 | ₹3,00,000 |
| S-HNI Min | 3 | 1,800 | ₹4,50,000 |
| S-HNI Max | 6 | 3,600 | ₹9,00,000 |
| B-HNI Min | 7 | 4,200 | ₹10,50,000 |
Retail investors can apply only for one bid of 2 lots (₹3 lakhs) due to SME IPO regulations.
Promoters and Shareholding
Promoters of the company include:
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Mr. Dattatraya Mohaniraj Karpe
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Mr. Sanjay Bhalchandra Vidwans
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Mr. Sunil Shrikrishna Bhalerao
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Mr. Bhartesh Rajkumar Shah
| Category | Pre-Issue Holding | Post-Issue Holding |
|---|---|---|
| Promoters | 98.42% | 72.35% |
This post-issue dilution ensures better public float and liquidity in the markets.
Should You Invest in Monarch Surveyors IPO?
Strengths
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Strong revenue and profit growth
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Low PE valuation
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Positive GMP indicating strong demand
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Experienced promoters and management
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Capital-efficient operations
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Wide range of consultancy services
Risks
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Regulatory changes in infrastructure
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Dependency on public sector contracts
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Medium borrowing levels
Expert Verdict
According to IPO analysts and market experts:
“Monarch Surveyors IPO is reasonably valued based on financial performance and growth potential. Investors looking for medium to long-term gains may consider subscribing to the issue.”
How to Apply for Monarch Surveyors IPO?
Step-by-step guide:
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Open your Demat account or use an existing one.
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Visit your stockbroker’s IPO section.
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Select Monarch Surveyors IPO, enter lots (min 2).
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Approve the UPI mandate or ASBA payment.
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Check allotment status on BSE or registrar’s portal on 25th July 2025.
Allotment Status Check
Via BSE:
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Visit bseindia.com
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Go to ‘IPO Allotment’ section
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Select ‘Equity’, choose IPO, enter PAN or Application No.
Via Registrar (Accurate Securities):
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Visit the registrar’s IPO allotment link
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Enter PAN/application ID
-
View live allotment status
Conclusion
The Monarch Surveyors IPO offers a promising opportunity in India’s infrastructure and engineering consultancy sector. With strong fundamentals, a diverse service portfolio, and a reasonable valuation, it holds potential for both listing gains and long-term appreciation.
While IPOs carry inherent risks, the Monarch Surveyors IPO is gaining traction among retail and institutional investors alike. Interested applicants should monitor subscription data and GMP trends before making a final decision.
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