Hot IPO Incoming: Monarch Surveyors! Discover Price, GMP, and Subscription Status Before It's Too Late!

The initial public offering (IPO) of Monarch Surveyors and Engineering Consultants Ltd. opened for subscription on Monday and has already drawn a strong response from investors, backed by a healthy grey market premium and optimistic market sentiment.

Monarch Surveyors IPO: Issue Size 

The Mumbai-based company, which is entering the market through the SME segment, aims to raise approximately ₹93.75 crore through a fresh issue of 37.5 lakh equity shares. 

Monarch Surveyors IPO: Price Band and GMP

The price band for the IPO has been fixed between Rs 237 and Rs 250 per share. The early enthusiasm from investors is reflected in the grey market premium, which is hovering around Rs 165—indicating a potential listing price near ₹415. This translates to a substantial 66% premium over the issue’s upper price band.

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Monarch Surveyors IPO: Subscription status 

By the end of Day 1, the public offer was subscribed 4.47 times, showcasing strong appetite particularly among retail investors, who oversubscribed their portion by 2.80 times. Non-institutional investors (NIIs) followed closely with 1.60 times subscription. Qualified Institutional Buyers (QIBs) are expected to participate more actively in the remaining days of the issue window.

Monarch Surveyors IPO: Key Dates to watch out

The IPO will remain open for bidding until July 24. The basis of allotment is expected to be finalized on July 25, with refunds likely processed by July 28. Shares are set to be listed on the BSE SME platform on July 29, making it one of the most awaited small-cap listings this month.

Monarch Surveyors IPO: Usage of proceeds

The proceeds from the IPO are earmarked for business expansion. Around Rs 32 crore will be used to procure new machinery and equipment, while Rs 30 crore has been allocated to meet working capital requirements. The remaining funds will go toward general corporate purposes.

Monarch Surveyors IPO:  Financial performance 

Financially, the company has shown steady growth. In FY25, Monarch reported revenues of Rs 155.66 crore, reflecting a 10% year-on-year increase. Its profit after tax stood at Rs 34.83 crore, up 16% from the previous fiscal year. 

About the company 

Headquartered in Mumbai, Monarch Surveyors has been in operation since 1992 and offers a comprehensive suite of civil engineering services, including land surveying, GIS mapping, structural design, technical audits, and project management. Its client base spans sectors such as roadways, rail infrastructure, ports, oil and gas, and urban development.