M & B Engineering Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹385
Per ShareLot Size
38 Shares
Minimum Investment
₹14,630
Issue Size
₹650 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
M & B Engineering Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
70.45%
Issue Type
Book Building
ISIN
INE08N601015
About the Company
We are one of India's leading Pre-Engineered Buildings ("PEBs") players (installed capacity being greater than 100,000 MTPA). Our Company has installed capacity of 103,800 MTPA related to PEB structures and 1,800,000 square metres per annum for Self-Supported Roofing solutions as on March 31, 2025. (Source: CRISIL Report). We offer our customers comprehensive turn-key solutions which includes project design, engineering, manufacturing and erection in accordance with customer requirements across industrial and infrastructure segments. We have delivered solutions for our customers engaged in diverse sectors including general engineering and manufacturing, food and beverages, warehousing and logistics, power, textiles, and railways. We have undertaken execution of over 9,500 projects until the end of Fiscal 2025 under our Phenix and Proflex Divisions.
Industry Overview
Pre-engineered construction has emerged as an innovative building method due to rapid growth of automation in the construction industry. Furthermore, shortage of skilled labour, combined with the inherent advantages of these structures in terms of speed, cost-effectiveness, and environmental impact, is significantly propelling their popularity in the construction sector. Pre-engineered structures/units are more eco-friendly than traditionally constructed ones and provide common benefits such as reduced material wastage, enhanced quality control, and improved onsite safety. The controlled manufacturing process minimises material wastage, promoting sustainable building practices, while rigorous quality control ensures consistent and durable structures. The Indian PEB industry expanded at a CAGR of ~8.3% over Fiscals 2019-2025 growing from INR 130 billion in Fiscal 2019 to INR 210 billion in Fiscal 2025. Further, the global PEB industry was valued at $ 20-22 billion in 2024 compared with $15-17 billion in 2019. The self-supported roofing market in India logged a CAGR of 6.1% between Fiscals 2019 and 2025 to reach INR 3.0 billion in Fiscal 2025.
Company History
Our Company was originally incorporated as "Manibhai and Brothers (Construction) Private Limited" a private limited company under the Companies Act, 1956 through certificate of incorporation dated June 16, 1981, issued by the Registrar of Companies, Gujarat at Ahmedabad ("RoC"). Subsequently, the name of our Company was changed to "M & B Engineering Private Limited" pursuant to a Board resolution dated September 5, 2006 and a resolution passed in the extra ordinary general meeting of the Shareholders held on November 7, 2006 and consequently a fresh certificate of incorporation dated November 22, 2006 was issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli, to reflect the change in name. Further, our Company was converted from a private limited company to a public limited company, pursuant to a resolution passed by our Shareholders dated March 24, 2011, and the name of our Company was changed to `M&B Engineering Limited', and a fresh certificate of incorporation dated March 30, 2011, was issued to our Company by the Registrar of Companies, Dadra and Nagar Haveli at Gujarat.
Products & Services
- The Company is one of India's leading Pre-Engineered Buildings ("PEBs") players (installed capacity being greater than 100,000 MTPA).
Growth Strategy
- Leverage our leading position in the domestic PEB market to capitalize on the growth expected in the industry and continue to strengthen and consolidate our presence in the self-supported steel roofing market in India.
- Augment our manufacturing facilities in our Phenix Division to better serve our customers by setting up a strategically located manufacturing facility.
- Increase revenue contribution of exports by focusing on USA and other key markets.
- Expand our business through strategic alliances or inorganic opportunities.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 16,888,474 equity shares of face value of Rs. 10 each ("Equity Shares") of M & B Engineering Limited ("the Company" or the "Issuer") for cash at a price of Rs.385.00 per equity share ("Offer Price") aggregating to Rs. 650.00 crores (the "Offer"). The offer comprises of a fresh issue of 7,148,215 equity shares by the company aggregating to Rs.275.00 crores (the "Fresh Issue") and an offer for sale of 9,740,259 equity shares (the "Offered Shares") including 3,983,119 equity shares aggregating to Rs. 153.35 crores by Girishbhai Manibhai Patel, 3,383,116 equity shares aggregating to Rs. 130.25 crores by Chirag Hasmukhbhai Patel, 487,012 equity shares aggregating to Rs.18.75 crores by Vipinbhai Kantilal Patel, 1,000,000 equity shares aggregating to Rs. 38.50 crores by Birva Chirag Patel, and 487,012 equity shares aggregating to Rs. 18.75 crores by Aditya Vipinbhai Patel (collectively the "Promoter Selling Shareholders"), 400,000 equity shares aggregating to Rs. 15.40 crores by Umaben Girishbhai Patel (the "Promoter Group Selling Shareholder" and together with the promoter selling shareholders the "Selling Shareholders") aggregating to Rs. 375.00 crores (the "Offer for Sale"). The offer includes a reservation of 57,306 equity shares, aggregating to Rs.2.00 crores (constituting up to 0.10 % of the post-offer paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute 29.55% and 29.45%, respectively, of the post-offer paid-up equity share capital of the company. The company in consultation with the brlms, offered a discount of Rs. 36.00 per equity share to the offer price to eligible employees bidding in the employee reservation portion ("Employee Discount"). The face value of the equity shares is Rs.10 each and the offer price is 38.50 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- One of the leading players in terms of installed capacity in the domestic PEB industry with presence in international markets.
- We 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 ?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.
- Experienced and dedicated promoters and professional management team with domain knowledge.
- The company business is dependent on and will continue to depends on its Manufacturing Facilities, and the company is subject to certain risks in its manufacturing process due to the usage of heavy machinery in the company manufacturing operations. In the past, there have been four instances of death in the course of its operations at the company project sites. Any slowdown or shutdown in its manufacturing operations or strikes or work stoppages could have an adverse effect on the company business, cash flows, financial condition and results of operations.
- The company derives a majority portion of its revenues from the design, manufacture and installation of pre-engineered buildings. Loss or decline in the demand of pre-engineered buildings may result in an adverse effect on the company business, revenue from operations and financial condition.
- The company is measured against high quality standards and stringent performance requirements by its customers. Any failures by the company to comply with these standards or performance requirements may lead to the cancellation of existing and future orders, recalls, liquidated damages, invocation of performance bank guarantees or warranty and indemnity or liability claims, which could adversely affect its reputation, business, results from operations, financial conditions and cash flows.
- Its net cash flow from operating activities has reduced over Fiscal 2023 to Fiscal 2024. If the cash flow from operations continues to remain subdued, the company may have to curtail our scale of business, and its may be unable to meet the company financial obligations which may impact its overall financial stability and performance.
- Some of its Directors and Promoters may have interest in entities, which are in businesses similar to its and this may result in conflict of interest with the company. Further, its Subsidiaries are in the same line of business as it, which may result in a conflict of interest.