M&B Engineering IPO day 3 Live: Bidding for the initial public offering (IPO) of M&B Engineering Ltd opened on 30 July 2025 and will remain open until 1 August 2025. This means investors have just one day to apply for the public issue, as bidding for the M&B Engineering IPO will end today at 5:00 PM.
According to the M&B Engineering IPO subscription status, the company has received a strong response from investors in the first two days of bidding. This strong response to the public issue is visible in the M&B Engineering IPO GMP (grey market premium). According to market observers, shares of the company are available at a premium of ₹58 in the grey market today, signalling a possible gain of around 15% against the M&B Engineering IPO price band of ₹385 apiece.
M&B Engineering IPO GMP today
As mentioned, M&B Engineering’s IPO GMP today is ₹58, which is steady and signals a 15% return on one’s money. This could become possible because of the resilience shown by the Indian stock market despite the imposition of Trump’s tariffs from 1 August 2025. Market observers said that M&B Engineering IPO GMP may appreciate if the resilience on Dalal Street against Trump’s tariffs on India gets extended during the Friday session. Shares of the Company debuted in the grey market on 26 July 2025 at around ₹65; since then, it has remained around this level.
M&B Engineering IPO subscription status
By 11:00 AM on day 3 of bidding, the public issue had been booked 5.35 times, the retail portion of the public offer had been subscribed 14.07 times, the NII segment had been filled 10.18 times, while the QIB portion had been subscribed 0.03 times.
M&B Engineering IPO review
Assigning a ‘subscribe’ tag to the public issue, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, “M&B Engineering Limited brings over two decades of expertise in the pre-engineered buildings sector, backed by a strong ₹4,500 crore order book and a track record of positive operating cash flows. Its profitability profile improved significantly in FY25, with PAT of ₹77 crore and a RoNW of 25%. While the IPO is priced at ~28.5x FY25 earnings, a premium compared to its scale, strong growth visibility, consistent cash generation, and sectoral tailwinds support investor participation. Despite concerns around valuation and governance, the company’s strong fundamentals, positive cash flows, and robust order pipeline make the IPO attractive at the current price band.”
Giving a ‘subscribe’ tag to the public issue, Anshul Jain, Head of Research at Lakshmishree Investment, said, “M&B Engineering Ltd. (MBEL) impresses with its 75% market share in self-supported roofing, a 25%+ ROE, and over 9,500 completed projects—underscoring leadership in India’s PEB sector. Backed by strong order books, scalable operations, and strategic in-house design, MBEL is primed to ride the structural boom. Its export reach and experienced management further solidify its growth story. However, overdependence on PEBs and promoter-linked transactions raises governance and concentration risks. Despite these, MBEL’s financial strength and sectoral demand tailwinds make it a compelling play. We believe the company offers solid long-term potential in infrastructure-driven growth. Verdict: Subscribe for sustained value creation.”
However, Shivani Nyati, Head of Wealth at Swastika Investmart, has assigned a ‘avoid’ tag to the public issue, saying, “The company is a key player in the PEB segment, catering to diverse industries. It has executed nearly 9,500 projects across its Phenix and Proflex divisions as of March 31, 2025. While profit after tax has grown, revenue has been inconsistent over the past three years. The IPO appears to be aggressively valued, based on which current conservative investors may consider avoiding this issue.”
In addition, Canara Bank Securities, Cholamandalam Securities, Marwadi Shares and Finance, Nirmal Bang, Reliance Securities, SMIFS and Ventura Securities have also assigned a ‘subscribe’ tag to the M&B Engineering IPO.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
