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Mahendra Realtors IPO
Price Band
₹75.0–85.0
Issue Size
₹49.45 Cr
Lot Size
1,600 shares
Min Investment
₹272,000
2 LOTS MIN
GMP
₹-10.0 (-11.76%)
Issue Price
₹85.0
Mahendra Realtors IPO AI Summary
- Mahendra Realtors IPO is listed on NSE SME in the Civil Construction sector.
- Price band: ₹75.0–₹85.0 per share, lot size 1,600 shares (min. investment ₹272,000, 2 lots minimum).
- Subscription window: 12 Aug–14 Aug 2025, listing on 20 Aug 2025.
- Current GMP is ₹-10.0 (-11.76%), an estimated listing price of ₹75 — unofficial and can change daily.
Mahendra Realtors and Infrastructure Limited is set to launch its IPO with a price band of ₹75.0 to ₹85.0, aiming to raise ₹49.45 Cr. The company has shown a steady growth in revenue and profit over the past three years, backed by a solid reputation in the civil construction sector and a diverse range of services.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Mahendra Realtors IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 14 Aug 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Mahendra Realtors IPO Grey Market Premium (GMP) Today
GMP
₹-10.0
GMP %
-11.76%
Est. Listing
₹75.0
Updated: 25 Jul 2026 14:13
About the Company
Incorporated in June 2007, Mahendra Realtors and Infrastructure Limited provides various services, including Structural Repairs, Rehabilitation, Retrofitting, Waterproofing, Corporate Interiors, BOT Projects, Maintenance, Construction, and Infrastructure Restoration. The company has undertaken several structural repair projects for government departments and public organizations, including CIDCO Vashi and Belapur Railway Stations, using innovative techniques like polymer-modified mortar, micro 138 concrete, and waterproofing. Structural repairs at Ghatkopar secured a Stability Certificate from IIT Bombay, involving steel jacketing, external repairs, and retrofitting. The company has also completed corporate interior projects at IIT Bombay, Airport Authority of India, VVIP Circuit House in Pune, and SVP Hospital in Ahmedabad. The company has completed 200+ projects for 50+ clients, averaging timely completion. The company's services include the following- Structural Repairs and Restoration. Waterproofing roofs, walls, and structures to prevent water penetration. Corporate Interior executes Civil, Carpentry, HVAC, Firefighting, Plumbing, Painting, Data Networking, Audiovisual, and Furniture work, enhancing commercial spaces with careful planning. Build and Operate Transfer Contractors. Maintenance of buildings, bridges, Facilities, etc. Repairs and retrofitting of infrastructure like bridges and culverts. Construction contracts from government authorities to undertake building projects. As of December 31, 2024, the company has ongoing projects in Andhra Pradesh, Delhi, Goa, Gujarat, Maharashtra and Tamil Nadu. As of September 30 2024, the company has 74 employees in various departments. Competitive Strength Established reputation contributing to the long-term success and stability of the business. Specializes in procurement, ensuring compliance, managing risks, controlling budgets, and meeting deadlines and quality standards by adhering to ISO. Building relationships in government contracts reflects unique expertise and knowledge essential for securing and executing projects. Strong relationships and connections within government agencies and with industry partners. Maintaining financial health to invest in projects, manage costs, and withstand economic fluctuations or challenges.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 137.54 | 93.01 | 98.21 |
| Total Income | 128.69 | 105.11 | 66.07 |
| Profit After Tax | 14.87 | 11.58 | 4.04 |
| EBITDA | 21.90 | 17.00 | 9.04 |
| NET Worth | 70.89 | 56.02 | 44.44 |
| Reserves and Surplus | 53.51 | 38.65 | 43.20 |
| Total Borrowing | 27.81 | 16.13 | 43.64 |
Key Ratios
EPS
₹8.55
NAV
₹40.79
ROE
23.43%
ROCE
30.56 %
RoNW
23.43%
P/B Value
2.08
P/E Ratio
9.94
Market Cap
₹187.88 Cr
PAT Margin
11.91%
Debt/Equity
0.22
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Maruti Infrastructure Ltd. | 14.77 | 0.07% | 66.29 | 0.21 |
| A B Infrabuild Limited | 20.74 | 0.17% | 53.54 | 3.36 |
| Mahendra Realtors and Infrastructure Limited This IPO | 40.79 | 23.43% | — | 8.55 |
Promoters
Hemanshu Shah, Bhavesh Mahendrakumar Shah, Chandrika Mahendra Shah, Hetal Bhavesh Shah and Varsha Hemanshu Shah
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Working Capital Requirement 30.40 2 General Corporate Purposes 5.36 3 Issue Expenses 4.42
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹66.07 Cr in the year ended 31 Mar 2023, increasing to ₹105.11 Cr by 31 Mar 2024, and further rising to ₹128.69 Cr by 31 Mar 2025. This indicates a consistent upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹4.04 Cr in the year ended 31 Mar 2023, which grew to ₹11.58 Cr by 31 Mar 2024, and reached ₹14.87 Cr by 31 Mar 2025. This shows a positive growth trajectory in profitability over the observed periods.
Valuation
Priced at roughly 9.94 trailing earnings, versus peers trading at 53.54-66.29.
Key Risks
Potential risks include reliance on government contracts, fluctuations in demand for construction services, and economic downturns that could affect project funding and execution.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium or discount at which an IPO might list compared to its issue price. A positive GMP suggests strong investor demand, while a negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance, considering factors such as the company's growth potential and market conditions.
Who May Want to Wait
Investors who prefer stable, low-risk investments or those uncomfortable with the uncertainties typical of IPOs may want to avoid this offering.
IPO Timeline, Explained
The IPO opens for subscription on August 12, 2025, and closes on August 14, 2025. Allotment of shares is expected by August 18, 2025, with the listing date set for August 20, 2025.
Listing Gains — The Risk
Listing gains can be unpredictable and depend on market conditions, investor sentiment, and the company's performance post-IPO. There is always a risk that shares may list at a lower price than the issue price.
This evaluation is generated from Mahendra Realtors's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Mahendra Realtors IPO GMP today?
Mahendra Realtors IPO GMP today is ₹-10.0 (-11.76%), indicating an estimated listing price of ₹75. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Mahendra Realtors IPO?
The price band of Mahendra Realtors IPO is ₹75.0–₹85.0 per share.
When does Mahendra Realtors IPO open and close?
Mahendra Realtors IPO opens on 12 August 2025 and closes on 14 August 2025.
When does Mahendra Realtors IPO list on the stock exchange?
Mahendra Realtors IPO listed on 20 August 2025 at ₹75.0.
What is the lot size for Mahendra Realtors IPO?
The lot size for Mahendra Realtors IPO is 1600 shares, requiring a minimum investment of ₹272,000 (2 lots).
What is the price band for the Mahendra Realtors IPO?
The price band for the Mahendra Realtors IPO is ₹75.0 to ₹85.0.
What is the minimum investment required?
The minimum investment required is ₹272,000.
What is the lot size for this IPO?
The lot size for the Mahendra Realtors IPO is 1600 shares.
When is the listing date for the IPO?
The listing date for the IPO is August 20, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which an IPO might list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Aug 2025
Close
14 Aug 2025
Allotment
18 Aug 2025
Listing
20 Aug 2025
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