M&B Engineering Limited is among India’s leading players in the Pre-Engineered Buildings (PEBs) industry, with an installed capacity of 103,800 MTPA for PEB structures and 1,800,000 square metres per annum for self-supported roofing solutions as of March 31, 2025 (source: CRISIL Report).
The Company operates two manufacturing facilities in Sanand, Gujarat, and Cheyyar, Tamil Nadu, with a combined PEB capacity of 103,800 MTPA. Sanand started in 2008, Cheyyar in 2024.
The Company exports PEBs and structural steel components to 22 countries, including the USA, Brazil, South Africa, Qatar, Sri Lanka, Morocco, Nigeria, Kenya, and Seychelles since Fiscal 2010.
The company’s operations are organised into two key divisions:
- Phenix Division – offers comprehensive solutions for PEBs and complex structural steel components, covering design, engineering, manufacturing, and erection.
- Proflex Division – specialises in the manufacturing and installation of self-supported steel roofing systems.
M&B Engineering provides turn-key solutions across diverse industrial and infrastructure segments. Over the years, the company has executed over 9,500 projects for customers in industries like general engineering, food & beverages, textiles, warehousing & logistics, power, and railways.
The company has a strong focus on quality, design capabilities, and timely project execution, supported by strategically located manufacturing facilities and mobile units. As of June 30, 2025, M&B Engineering reported an order book of ₹8,428.38 million, indicating robust demand.
By combining a track record of large-scale projects, technical expertise, and customer trust, M&B Engineering positions itself as a significant contributor to India’s growing PEB and roofing solutions market.
M&B Engineering IPO – Details
| IPO Opening Date | 30 July 2025 |
| IPO Closing Date | 01 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,68,83,116 Shares Worth ₹650.00 Crore Fresh Issue: 71,42,857 Shares Worth ₹275.00 Crore Offer For Sale: 97,40,259 Shares Worth ₹375.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹366 – ₹385 per share |
| Market Lot | 38 Shares |
| Min Order | 38 Shares [ 1 Lot ] |
| Employee Discount | ₹36.00 |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Private Limited (Link Intime) |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
M&B Engineering IPO – Date Schedule
| IPO Open Date | 30 July 2025 |
| IPO Close Date | 01 August 2025 |
| Basis of Allotment | 04 August 2025 |
| Initiation of Refund | 05 August 2025 |
| Credit of Shares to Demat Account | 05 August 2025 |
| IPO Listing Date | 06 August 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 01, 2025 |
M&B Engineering IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,630 |
| Retail (Max) | 13 | 494 | ₹1,90,190 |
| S-HNI (Min) | 14 | 532 | ₹2,04,820 |
| S-HNI (Max) | 68 | 2,584 | ₹9,94,840 |
| B-HNI (Min) | 69 | 2,622 | ₹10,09,470 |
Competitive Strength
- One of the players in terms of installed capacity in the domestic PEB industry with presence in international markets and market leader in the domestic self-supported roofing industry.
- They provide a wide range of specialised products and services, making us a comprehensive solution provider for our customers.
- Relationships with customers across a diverse set of industries with an order book of Rs 8,428.38 million as of June 30, 2025.
- Strategically located manufacturing facilities for PEBs with comprehensive in-house design and engineering capabilities and 14 mobile manufacturing units for self-supported roofing systems.
Company Promoters
- Girishbhai Manibhai Patel
- Chirag Hasmukhbhai Patel
- Malav Girishbhai Patel
- Birva Chirag Patel
- Vipinbhai Kantilal Patel
- Aditya Vipinbhai Patel
- Leenaben Vipinbhai Patel
- Chirag H Patel Family Trust
- Vipin K Patel Family trust
- MGM5 Family Trust
- MGM11 Family Trust
- Aditya V Patel Family Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹889.00 Cr | ₹843.52 Cr | ₹32.89 Cr | ₹148.75 Cr |
| 31 March 2024 | ₹808.26 Cr | ₹747.38 Cr | ₹45.63 Cr | ₹204.84 Cr |
| 31 March 2025 | ₹996.88 Cr | ₹894.65 Cr | ₹77.05 Cr | ₹186.13 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 25.13% |
| ROCE | 24.80% |
| Debt/Equity | 0.33 |
| RoNW | 25.14% |
| PAT Margin | 7.73% |
| EBITDA Margin | 12.78% |
| Price to Book Value | 6.28 |
| Pre IPO | Post IPO | |
| EPS (₹) | 15.41 | 13.48 |
| P/E (x) | 24.98 | 28.55 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid, and transport vehicles at our Manufacturing Facilities. | ₹130.58 |
| Investment in IT software upgradation by the Company. | ₹5.20 |
| Repayment or pre-payment of term loans, in full or in part, of certain borrowings availed by the Company. | ₹58.75 |
| General corporate purposes. |
M&B Engineering IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Interarch Building Products Limited | 33.69 |
| 2 | 5 | Pennar Industries Limited | 25.23 |
| 3 | 10 | Bansal Roofing Products Limited | 28.39 |
| 4 | 10 | BirlaNU Limited | NM |
| 5 | 10 | Everest Industries Limited | NM |
✅Strengths
- Large PEB & roofing capacity, strong design-led solutions.
- 9,500+ projects and exports to 22 countries.
- Diversified across industries; good repeat customer base.
- Integrated operations support efficiency and cost advantage.
⚠️Risks
- High revenue dependence on top customers.
- Fluctuating steel prices may impact margins.
- Intense competition and project execution delays.
- Losses in US subsidiary; exposure to global risks.
M&B Engineering IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 70.45% |
M&B Engineering IPO Prospectus
Company Contact Information
| M&B Engineering Ltd. MB House, 51, Chandrodaya Society, Opp. Golden Triangle, Stadium Post Navjivan, Ahmedabad, Gujarat, 380014 Phone: +91 79- 264637 Email: compliance@mbel.in Website: http://www.mbel.in/ |
M&B Engineering IPO Registrar
| MUFG Intime India Private Limited (Link Intime) Phone: +91-22-4918 6270 Email: mbengg.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
M&B Engineering IPO Lead Manager(s)
| 1. Equirus Capital Private Limited 2. Dam Capital Advisors Ltd |
M&B Engineering IPO FAQs
| What is M&B Engineering IPO? M&B Engineering IPO is a main-board IPO. The issue is priced at ₹366 to ₹385 per equity share. The IPO is to be listed on BSE & NSE. |
| When will M&B Engineering IPO open? The IPO is to open on 30 July 2025 for QIB, NII, and Retail Investors. |
| What is M&B Engineering IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| How to Apply the M&B Engineering IPO? You can apply M&B Engineering IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the M&B Engineering IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “M&B Engineering IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the M&B Engineering IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “M&B Engineering IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the M&B Engineering IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “M&B Engineering IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the M&B Engineering IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “M&B Engineering IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is M&B Engineering IPO Size? M&B Engineering IPO size is ₹650.00 Crore. |
| What is the M&B Engineering IPO Price Band? M&B Engineering IPO Price Band is ₹366 to ₹385. |
| What is M&B Engineering IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 38 Shares with ₹14,630 while the maximum bid is 494 Shares with ₹1,90,190. |
| What is the M&B Engineering IPO Allotment Date? M&B Engineering IPO allotment date is 04 August 2025. |
| What is the M&B Engineering IPO Listing Date? M&B Engineering IPO listing date is 06 August 2025. The IPO is to be listed on BSE and NSE. |
