The Indian IPO market continues to see new offerings, with the SME segment particularly active. Among the latest is Mahendra Realtors & Infrastructure Limited, a diversified infrastructure services company, which is set to launch its IPO. The issue opens on August 12, 2025, and will be a book-building offering on the NSE SME platform.
Here’s a detailed breakdown of the Mahendra Realtors & Infrastructure IPO, providing crucial details for potential investors.
About Mahendra Realtors & Infrastructure Ltd.
Founded in 2007, Mahendra Realtors & Infrastructure Limited specialises in a wide range of infrastructure services. The company’s expertise includes structural repairs, rehabilitation, retrofitting, waterproofing, corporate interior works, and Build-Operate-Transfer (BOT) projects. They have a strong track record of executing projects for government bodies and public organisations, including CIDCO, IIT Bombay, and the Airport Authority of India.
Their services cover structural restoration, waterproofing, corporate interiors, and maintenance of infrastructure such as bridges and buildings. With ongoing projects across Andhra Pradesh, Delhi, Goa, Gujarat, Maharashtra, and Tamil Nadu, Mahendra Realtors continues to grow. The company prides itself on strong relationships with government agencies, adherence to ISO standards, and the ability to manage risks, budgets, and deadlines efficiently. As of September 2024, the company employs 74 professionals, ensuring stability and success in a competitive market.
Mahendra Realtors & Infrastructure IPO Details
The Mahendra Realtors & Infrastructure IPO is a book-building issue aiming to raise ₹49.45 crores. The issue is a combination of a fresh issue and an offer for sale (OFS). The fresh issue of 47.26 lakh shares will raise ₹40.17 crores, which will be used to meet working capital requirements, support general corporate purposes, and cover issue expenses. The OFS of 10.91 lakh shares will allow existing shareholders to sell their stake, with the company not receiving any proceeds from this portion.
Important IPO Timeline
| Event | Date |
| IPO Open Date | Tue, Aug 12, 2025 |
| IPO Close Date | August 14, 2025 |
| Tentative Allotment | August 18, 2025 |
| Initiation of Refunds | August 19, 2025 |
| Credit of Shares to Demat Account | August 19, 2025 |
| Tentative Listing Date | August 20, 2025 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on August 14, 2025 |
Key IPO Details
| Particulars | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹75 to ₹85 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 58,17,600 shares (₹49.45 Cr) |
| Fresh Issue | 47,26,400 shares (₹40.17 Cr) |
| Offer for Sale | 10,91,200 shares (₹9.28 Cr) |
| Issue Type | Bookbuilding IPO (SME) |
| Listing at | NSE SME |
| Shareholding Pre-Issue | 1,73,77,500 shares |
| Shareholding Post-Issue | 2,21,03,900 shares |
Lot Size of Mahendra Realtors & Infrastructure IPO
| Application Type | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,72,000 |
| Retail (Max) | 2 | 3,200 | ₹2,72,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,08,000 |
| S-HNI (Max) | 7 | 11,200 | ₹9,52,000 |
| B-HNI (Min) | 8 | 12,800 | ₹10,88,000 |
Mahendra Realtors & Infrastructure Financials
The company has shown consistent growth, with revenue and profit after tax (PAT) increasing year-over-year. The IPO’s market capitalisation is estimated at ₹187.88 crore at the upper price band.
Key Performance Indicators (as of Mar 31, 2025)
- Return on Equity (ROE): 23.43%
- Return on Capital Employed (ROCE): 30.56%
- PAT Margin: 11.91%
- Debt/Equity: 0.22
- Pre-IPO EPS: 8.55
- Post-IPO EPS: 6.73
- Pre-IPO P/E: 9.94
- Post-IPO P/E: 12.64
Financial Snapshot (as of Mar 31, 2025)
| Particulars | 31 Mar 2025 (₹ Cr) | 31 Mar 2024 (₹ Cr) | 31 Mar 2023 (₹ Cr) |
| Assets | 137.54 | 93.01 | 98.21 |
| Revenue | 128.69 | 105.11 | 66.07 |
| Profit After Tax | 14.87 | 12 | 4.04 |
| Net Worth | 70.89 | 56.02 | 44.44 |
| Total Borrowing | 27.81 | 16.13 | 43.64 |
Mahendra Realtors & Infrastructure Ltd.: Industry Outlook
- Growing Infrastructure Demand: Increased government focus on infrastructure development boosts demand for services like structural repairs, retrofitting, and construction.
- Government Contracts: A stable source of revenue, with rising opportunities in public sector projects and government-driven initiatives.
- Technological Advancements: Use of innovative materials and techniques, such as polymer-modified mortar and micro 138 concrete, is improving the quality and efficiency of projects.
- Urbanisation & Commercial Growth: Expansion of commercial spaces and real estate development leads to higher demand for corporate interior and facility maintenance services.
- Sustainability Focus: Rising emphasis on sustainable construction practices, including eco-friendly waterproofing and energy-efficient building solutions.
Use of IPO Proceeds
The company intends to use the net proceeds from the fresh issue for the following purposes:
| S.No. | Objects of the Issue |
Expected Amount (₹ in crores) |
| 1 | Working Capital Requirement | 30.4 |
| 2 | General Corporate Purposes | – |
| 3 | Issue Expenses | – |
Conclusion
The Mahendra Realtors & Infrastructure IPO provides an opportunity to invest in a growing company within the infrastructure and construction sector. The company’s healthy financial performance, robust order book, and clear use of fresh issue proceeds are positive indicators. However, the SME nature of the IPO and inherent industry risks require careful consideration. This IPO may be suitable for investors with a long-term perspective and a higher risk appetite.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
