Mahendra Realtors & Infrastructure Limited, a Mumbai-based company specializing in engineering and construction services, has launched its Initial Public Offering (IPO) today, August 12, 2025. The SME IPO, aiming to raise approximately ₹49.45 crore, will remain open for subscription until August 14, 2025. The shares are set to be listed on the NSE SME platform, with a tentative listing date of August 20, 2025.
Mahendra Realtors & Infrastructure, incorporated in June 2007, offers a wide range of services, including structural repairs, retrofitting, waterproofing, corporate interiors, build-operate-transfer (BOT) projects, maintenance, construction, and infrastructure restoration. The company has completed 126 projects and has 67 ongoing projects as of December 31, 2024, with notable works including structural rehabilitation at CIDCO’s Vashi and Belapur Railway Stations and corporate interiors for IIT Bombay and the Airport Authority of India. Its landmark project, the Sharad Pawar Bhavan in Pen, is recognized as Maharashtra’s first building-focused BOT initiative.
The company’s financial performance has shown steady growth. For the fiscal year ending March 31, 2025, Mahendra Realtors reported a revenue of ₹128.69 crore, a 22% increase from ₹105.11 crore in FY2024. Profit after tax (PAT) rose by 28% to ₹14.87 crore from ₹11.58 crore in the same period. With a return on net worth (RoNW) of 23.43% and an earnings per share (EPS) of ₹8.55, the company’s financials indicate a stable and growing business, making it an attractive option for long-term investors.
The IPO proceeds will primarily be used to meet working capital requirements (₹30.40 crore), with the remainder allocated for general corporate purposes and issue expenses. The issue is managed by Fast Track Finsec Pvt Ltd, with MUFG Intime India Pvt Ltd serving as the registrar. The IPO has reserved 50% of the shares for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs).
Market sentiment appears positive, with the grey market premium (GMP) for the IPO reported at ₹6 per share as of August 11, 2025, suggesting an estimated listing price of ₹91, a 7.06% premium over the upper price band. Analysts recommend the IPO for long-term investment, citing the company’s diversified service portfolio, strong government connections, and consistent financial growth. However, investors should note the company’s dependence on government contracts and the competitive nature of the construction sector as potential risks.
For real-time subscription updates and allotment status, investors can visit IPOwatch or the registrar’s website at linkintime.co.in. The allotment is expected to be finalized on August 18, 2025, with refunds and share credits to demat accounts scheduled for August 19, 2025.
Disclaimer: Investors should consult financial advisors before making investment decisions. SME IPOs carry higher risks due to their smaller scale and market volatility. The grey market premium is not an official indicator of listing performance.
