India’s infrastructure development sector is undergoing rapid expansion, driven by significant government investments in road networks, highways, and various construction projects. This growth fuels a high demand for advanced construction and material handling equipment, particularly in the Pre-Engineered Buildings (PEB) and Self-Supported Roofing market. In this evolving landscape, M&B Engineering Limited, a key player in designing, manufacturing, and servicing a comprehensive range of such solutions, is launching its Initial Public Offering (IPO) on July 30, 2025. The IPO offers investors an opportunity to engage with a company equipped to meet the rising demands of this critical sector.
This article provides a detailed overview of the M&B Engineering IPO details, offering key insights for potential investors.
About M&B Engineering Ltd.
Incorporated in 1979, M&B Engineering Limited (MBEL) is a leading provider of Pre-Engineered Buildings (PEBs) and Self-Supported Roofing solutions in India.
With an installed capacity of 103,800 MTPA for PEBs and 1.8 million square meters annually for roofing, MBEL is a key player in the industry (as per CRISIL Report). The company operates through two divisions: Phenix, offering PEB and structural steel solutions, and Proflex, which provides mobile on-site manufacturing and installation of roofing.
Over 23 years, MBEL has executed 9,400+ projects for 2,000+ clients across industries like logistics, food, manufacturing, and more. Its clients include Adani Group, Tata Advanced Systems, Intas Pharmaceuticals, Haldiram, and Arvind Ltd.
M&B Engineering Ltd. IPO Details
The M&B Engineering IPO is a book-building issue aiming to raise ₹650 crore. The issue comprises a fresh issuance of 0.71 crore equity shares aggregating up to ₹275 crore and an Offer for Sale (OFS) of 0.97 crore shares aggregating up to ₹375 crore by existing shareholders. The M&B Engineering IPO price band has been set between ₹366 and ₹385 per share, with a face value of ₹10 per share. Eligible employees will receive a discount of ₹36 per share.
Important IPO Timeline
| Event | Date |
| IPO Open Date | Wed, Jul 30, 2025 |
| IPO Close Date | Fri, Aug 1, 2025 |
| Tentative Allotment | Mon, Aug 4, 2025 |
| Initiation of Refunds | Tue, Aug 5, 2025 |
| Credit of Shares to Demat | Tue, Aug 5, 2025 |
| Tentative Listing Date | Wed, Aug 6, 2025 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on Aug 1, 2025 |
Key IPO Details
| Event | Details |
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | – |
| Face Value | ₹10 per share |
| Issue Price Band | ₹366 to ₹385 per share |
| Lot Size | 38 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,68,83,116 shares (aggregating up to ₹650.00 Cr) |
| Fresh Issue | 71,42,857 shares (aggregating up to ₹275.00 Cr) |
| Offer for Sale | 97,40,259 shares (aggregating up to ₹375.00 Cr) |
| Employee Discount | ₹36 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Shareholding (Pre-Issue) | 5,00,00,000 shares |
| Shareholding (Post-Issue) | 5,71,42,857 shares |
Lot Size of M&B Engineering IPO
| 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 |
M&B Engineering Limited Financials
M&B Engineering Limited has demonstrated robust financial performance. The company’s revenue increased from ₹889 crore in FY23 to ₹996.89 crore in FY25. Concurrently, the Profit After Tax (PAT) has shown significant growth, rising from ₹32.89 crore in FY23 to ₹77.05 crore in FY25.
Key Performance Indicators (as of Mar 31, 2025)
- 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
Company Financial Snapshot
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets (₹ Cr) | 849.21 | 633 | 558.79 |
| Revenue (₹ Cr) | 996.89 | 808 | 889.00 |
| Profit After Tax (₹ Cr) | 77.05 | 46 | 32.89 |
| EBITDA (₹ Cr) | 126.38 | 80 | 66.43 |
| Net Worth (₹ Cr) | 306.53 | 233 | 180.51 |
| Reserves and Surplus (₹ Cr) | 256.53 | 183.03 | 160.51 |
| Total Borrowing (₹ Cr) | 186.13 | 204.84 | 148.75 |
M&B Engineering Limited: Industry Outlook
India’s Pre-Engineered Building (PEB) and Self-Supported Roofing market is expected to witness substantial growth. CRISIL reports that the company held a 75% market share in India’s self-supported steel roofing segment in FY24, making it the country’s largest player. The PEB market grew at an 8% CAGR between FY19 and FY24 and is projected to grow by another 10-11% CAGR between FY24 and FY29, reaching ₹315–330 billion. This expansion is driven by:
- Infrastructure Dominance: The infrastructure sector is expected to lead PEB demand, contributing 39–41% by 2028. Key drivers include investments in logistics, warehouses, toll plazas, and expressways.
- Government Initiatives: Rising awareness of PEB benefits and government-driven infrastructure initiatives (like greenfield airport projects and brownfield expansions) will continue to support demand.
- Technological Adoption: Increased adoption of modern construction techniques and efficient building solutions.
Use of IPO Proceeds
The net proceeds from the fresh issue component of the M&B Engineering IPO are primarily intended for:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid, and transport vehicles at our Manufacturing Facilities | 131 |
| 2 | Investment in IT software upgradation by our Company | 5 |
| 3 | Re-payment or pre-payment of term loans, in full or in part, of certain borrowings availed by our Company | 59 |
| 4 | General corporate purposes |
M&B Engineering Limited IPO Peer Comparison
M&B Engineering operates in the competitive PEB and self-supported roofing market. Listed peers mentioned in the RHP include Pennar Industries Limited, Bansal Roofing Products Limited, BirlaNU Limited, Everest Industries Limited, and Interarch Building Products Limited. M&B Engineering exhibits a stronger Return on Net Worth (RoNW) and EPS compared to some of its peers, showcasing its profitability and market position.
How To Apply for the M&B Engineering IPO Online?
- Log in to your Torus Digital Account
- Select the IPO issue
- Enter the number of lot sizes and price
- Provide your UPI ID
- Complete the transaction on your UPI app
If you want to apply for an IPO, consider opening a Torus Digital Demat account for a seamless experience.
Conclusion
The upcoming M&B Engineering IPO offers a compelling opportunity for investors interested in India’s rapidly expanding infrastructure sector, particularly in Pre-Engineered Buildings and Self-Supported Roofing. With its market leadership, comprehensive solutions, robust client base, and strategic manufacturing capabilities, the company is well-positioned to benefit from significant government investments and industry growth.
M&B Engineering Limited’s strong financial performance, combined with a favourable industry outlook driven by increased infrastructure spending and technological advancements, positions it for continued expansion. Potential investors should carefully evaluate the company’s business model, financial health, and the broader competitive landscape. This IPO presents a unique chance to invest in a company that is critical to India’s ongoing infrastructure development. Keep an eye on upcoming IPOs for more opportunities.
