| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹ 366 to ₹ 385 | 38 | 30th Jul, 2025 – 1st Jul, 2025 | ₹650.00 Cr |
M&B Engineering Ltd
M&B Engineering Ltd. is one of the leading players in the Pre-Engineered Buildings (PEB) segment, with an installed capacity of 103,800 MTPA for PEB structures and 1,800,000 square meters per annum for Self-Supported Roofing solutions. The company operates through two key divisions: the Phenix division, which provides comprehensive solutions for PEBs and complex structural steel components, and the Proflex division, which provides self-supported steel roofing solutions. It offers turn-key solutions that include project design, engineering, manufacturing, and erection, tailored to customer requirements across industrial and infrastructure segments. M&B has dedicated teams for each division, led by experienced professionals in areas such as plant operations, quality control, sales and marketing, procurement, and finance, enabling it to effectively respond to evolving industry demands and opportunities. During its 23 years of operations, the company has executed over 9,500 projects for clients across diverse sectors such as general engineering and manufacturing, food and beverages, warehousing and logistics, power, textiles, and railways. M&B operates two manufacturing facilities located in Sanand, Gujarat, and Cheyyar, Tamil Nadu. These facilities are supported by stringent quality and safety standards and are ISO certified. The Sanand facility is recognized by various industry authorities, including the Research Design and Standards Organization of Indian Railways, Factory Mutual Global (FM Global), and the National Accreditation Board for Testing and Calibration Laboratories (NABL). It has also received approval from the Chief Engineer (Navy) for the design, manufacture, and erection of PEB structures. Notably, it is the only PEB manufacturing facility in India certified by the American Institute of Steel Construction (AISC). M&B has a strong track record, extensive domain experience, established brand presence, and in-house capabilities across design, engineering, manufacturing, supply, and on-site project management in the PEB and steel roofing industry.
Objective of the M&B Engineering Ltd IPO
The company proposes to utilise the net proceeds towards funding the following objects:
- Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at its manufacturing facilities;
- Investment in information technology (“IT”) software upgradation by the company;
- Re-payment or pre-payment of term loans, in full or in part, of certain borrowings availed by the company; and
- General corporate purposes
Rationale To M&B Engineering Ltd IPO
India’s first and leading depository operating a wide range of technology-driven businesses
As an integrated manufacturing partner offering design-led manufacturing solutions, M&B provides designs, engineering solutions, manufacturing, and testing to ensure that its structures meet high standards of reliability, safety, and performance. At the core of its operations, the company specializes in innovative design, manufacturing, and installation of pre-engineered metal buildings, complex structural steel components, and self-supported steel roofing. By combining the strengths of its Phenix and Proflex divisions, M&B is equipped to serve a diverse set of customer requirements, from small-scale to large-scale projects. The company’s solutions span simple PEB structures, such as those required for warehousing applications, to complicated constructions, such as PEB installations with retractable (openable) roof structures. The company’s Phenix Division integrates manufacturing operations to provide comprehensive solutions, covering estimation, design, engineering, and manufacturing PEBs within its controlled facility environments. These structures are then supplied, installed, and erected under supervision through on-site project management. Through the Proflex Division, M&B provides self-supported steel roofing solutions. Using proprietary software, the company determines the optimal steel thickness for each project by analyzing building parameters. This analysis forms the basis for pricing and proposal preparation. The roofing solutions are designed, manufactured, and installed according to the client’s specific requirements. Additionally, M&B provides value-added products and services, including side wall and gable wall cladding, ventilators, skylights, and HVLS fans, further enhancing the functionality and appeal of its structural solutions. With experience in handling over 9,500 projects across varied terrains, geographic locations, end-use applications, customer specifications for span length and materials, delivery timelines, and project sizes, M&B has established a strong track record that demonstrates its capabilities to both existing and potential customers.
Strategically located manufacturing facilities enhance efficiency and market reach
M&B operates two manufacturing facilities at Sanand, Gujarat, and Cheyyar, Tamil Nadu, for manufacturing PEBs and complex structural steel components. The Sanand facility is strategically located to serve customers across Western, Northern, and Central India, with close connectivity to ports in Gujarat, while the Cheyyar facility is well-placed to cater to customers in South India. The company has utilized about 33,737.75 square meters of land at its Sanand facility and 21,917.76 square meters at its Cheyyar facility. Both facilities are equipped with equipment and systems, including high-precision CNC machines, plasma and oxy-acetylene cutting torches, beam welding machines, online shot blasting and painting systems, sheet profiling machines, and integrated purlin forming and painting lines. M&B has made efforts to adopt uniform manufacturing standards with robust controls across all its facilities. The company’s manufacturing infrastructure is further supported by stringent quality and safety processes, evidenced by its ISO certification. Additionally, the Proflex Division operates a fleet of 14 mobile manufacturing units, enabling M&B to serve customers across a wide geographic area efficiently. To enhance design and engineering capabilities, M&B has invested in computer-aided design software, including STAAD PRO, STAAD PRO Advanced, MBS, TEKLA/Trimble, ZWCAD, and BricsCAD. The company’s engineering expertise and technology-driven processes enable it to execute projects in accordance with the designs, specifications and timelines. Its focus on process innovation and the use of modern technology has been helpful in the business growth and improving its ability to customize products. With fully integrated infrastructure and capacities, M&B is equipped to meet the diverse requirements of PEB and self-supported steel roofing solutions. This enables the company to effectively serve multiple market segments, enhancing its market reach and operational flexibility.
Valuation of M&B Engineering Ltd IPO
M&B Engineering Ltd., a leading player in the Pre-Engineered Buildings segment, offers comprehensive turn-key solutions that include project design, engineering, manufacturing and erection according to customer requirements across industrial and infrastructure segments. The company has delivered solutions to customers engaged in diverse sectors, including general engineering, manufacturing, food and beverages, warehousing and logistics, power, textiles, and railways. With a strong presence across diverse geographies, end-use applications, and project scales, M&B has built a strong track record that has helped it foster long-term relationships with both existing and potential customers. Pre-engineered construction has emerged as an innovative building method due to the increasing automation in the construction industry. The medium-term outlook for the Indian PEB industry is optimistic, with expected growth at a CAGR of 9.5-10.5% between FY25 and FY30, supported by investments in the industrial and infrastructure sectors, such as warehouses and logistics, as well as expressways. M&B’s offerings range from simple PEB structures to complex constructions. The strategic location of its manufacturing facilities enables the company to serve customers across India. Backed by engineering expertise and use of modern technology, M&B is able to efficiently meet customer requirements and expand its market presence. With a strong track record, extensive domain experience, established brand presence, and fully integrated capabilities across design, engineering, manufacturing, supply, and on-site project management, M&B is well-positioned to benefit from future growth opportunities in the PEB and steel roofing industry. Financially, the company reported a revenue CAGR of 6% from FY23 to FY25, while PAT grew at an impressive CAGR of 53% during the same period. It also delivered a strong ROE and ROCE of 28.7% and 24.8% respectively, in FY25. Based on FY25 earnings, the issue is valued at a P/E ratio of 25x based on the upper price band, which aligns well with its peers. We, thus, recommend a “SUBSCRIBE” rating for this issue.
What is the M&B Engineering Limited IPO?
The initial public offer (IPO) of M&B Engineering Limited offers an early investment opportunity in M&B Engineering Ltd . A stock market investor can buy M&B Engineering Ltd IPO shares by applying in IPO before M&B Engineering Ltd shares get listed at the stock exchanges. An investor could invest in M&B Engineering Ltd IPO for short term listing gain or a long term.
How to apply for the M&B Engineering Ltd IPO through StoxBox?
To apply for the M&B Engineering Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the M&B Engineering Ltd IPO open?
M&B Engineering Ltd IPO is opening on 30th Jul 2025. Apply Now
What is the lot size of the M&B Engineering Ltd IPO?
The Lot Size of M&B Engineering Limited IPO is 38 equity shares. Login to your account now.
When is the M&B Engineering Ltd allotment date?
The allotment Date for M&B Engineering Ltd IPO is 4th Aug 2025. Login to your account now.
When is the M&B Engineering Ltd IPO listing date?
The listing Date for M&B Engineering Ltd IPO is 6th Aug 2025. Login to your account now
What is the minimum investment required for the M&B Engineering Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,630. Login to your account now
What is the maximum investment allowed for the M&B Engineering Limited IPO?
In the Retail segment the maximum investment requirement is Rs. 1,90,190. Login to your account now
What are the risks associated with investing in the M&B Engineering Ltd IPO?
- The company’s business is dependent on, and will continue to depend on, its manufacturing facilities, and is subject to certain risks in the manufacturing process due to the use of heavy machinery. Any slowdown or shutdown in manufacturing operations or strikes or work stoppages could adversely affect its business, cash flows, financial condition and results of operations.
- The company’s raw material cost constitutes a major portion of its total expenses. Any increase in the prices, availability and quality of raw materials could adversely affect its reputation, business, results of operations, financial conditions and cash flows.
- The company’s business is dependent on its design and engineering teams to accurately carryout the pre-approval engineering studies for potential orders. Inability of the design and engineering teams to accurately estimate project costs or execute orders could adversely impact its business, results of operations, financial condition and cash flows.
When will the M&B Engineering Ltd IPO shares be credited to my Demat account?
The M&B Engineering Limited. IPO be credited to the account on allotment date which is 5th Aug 2025. Login to your account now
Where can I find the M&B Engineering Limited IPO prospectus?
The prospectus of M&B Engineering Limited IPO prospectus can be find on the website of SEBI, NSE and BSE
