M & B Engineering Limited has filed its quarterly monitoring agency report for the period ended December 31, 2025, detailing the utilization of proceeds from its Initial Public Offer (IPO). The report, submitted under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, provides comprehensive insights into how the company has deployed the funds raised through its public offering.

IPO Details and Proceeds Structure

The company conducted its IPO from July 30, 2025, to August 1, 2025, raising gross proceeds of Rs 2,750.00 million through a fresh issue of equity shares. After deducting issue expenses of Rs 156.80 million, the net proceeds available for utilization stood at Rs 2,593.20 million.

Quarterly Utilization Summary

During the quarter ended December 31, 2025, M & B Engineering utilized Rs 27.68 million from the IPO proceeds. The cumulative utilization as of December 31, 2025, reached Rs 1,429.04 million, leaving Rs 1,320.96 million unutilized.

Object-wise Fund Deployment

The IPO proceeds are being utilized across four primary objectives as outlined in the offer document:

Capital Expenditure Requirements: The largest allocation of Rs 1,305.79 million is designated for purchasing equipment, machinery, building works, solar rooftop grid, and transport vehicles at manufacturing facilities. As of December 31, 2025, Rs 73.81 million has been utilized under this head, with Rs 1,231.98 million remaining.

Loan Repayment: The company allocated Rs 587.50 million for repayment of term loans, which has been fully utilized during the quarter ended September 30, 2025.

General Corporate Purposes: An amount of Rs 647.91 million was earmarked for general corporate purposes, of which Rs 641.84 million has been utilized, leaving Rs 6.07 million unused.

IT Software Upgradation: The company allocated Rs 52.00 million for IT software upgradation, which remains completely unutilized as of the reporting quarter.

Investment of Unutilized Funds

The company has prudently invested the unutilized proceeds in fixed deposits across multiple banks including Kotak Mahindra Bank, ICICI Bank, Axis Bank, and HDFC Bank. The investments are earning returns ranging from 4.75% to 6.45%, with maturity dates spread between January 2026 and August 2026. Additionally, Rs 28.19 million is maintained in the monitoring account and Rs 36.17 million in the escrow account.

Monitoring Agency Assessment

Crisil Ratings Limited, serving as the monitoring agency, confirmed that all utilization is as per disclosures in the offer document. The agency reported no deviations from the objects of the issue and noted that the company has obtained all necessary approvals. The monitoring agency also confirmed that there are no unfavorable events affecting the viability of the stated objectives.

Compliance and Regulatory Adherence

The report demonstrates M & B Engineering's commitment to transparency and regulatory compliance. The company has maintained proper documentation through statutory auditor certificates from M/s Talati & Talati LLP, Chartered Accountants, and has ensured that the utilization for general corporate purposes does not exceed the prescribed 25% limit of gross proceeds.

M & B Engineering Limited has announced comprehensive investor engagement activities for February 9, 2026, including a board meeting to approve Q3FY26 financial results followed by an earnings conference call with analysts and shareholders. The company will discuss both quarterly and nine-month performance for the period ended December 31, 2025.

Board Meeting and Results Announcement

The company has scheduled a board meeting for February 9, 2026, to consider and approve unaudited financial results for Q3FY26. The meeting will review both standalone and consolidated financial performance for the quarter ended December 31, 2025, in compliance with regulatory requirements under SEBI LODR 2015.

Earnings Conference Call Details

Following the results announcement, M&B Engineering will host an earnings conference call on February 9, 2026, at 5:00 PM IST. The call, organized under Regulation 30 of SEBI LODR 2015, will provide detailed insights into the company's Q3FY26 and nine-month performance to analysts and shareholders.

Company Profile and Operations

Founded in 1981, M&B Engineering Limited operates as one of India's leading Pre-Engineered Buildings players, offering comprehensive turnkey solutions with over 23 years of track record. The company maintains strategically located manufacturing facilities at Sanand, Gujarat and Cheyyar, Tamil Nadu for PEBs, along with 15 mobile manufacturing units for self-supported roofing systems.

Trading Window and Compliance

The company has implemented trading window restrictions for designated persons as part of insider trading prevention measures. These restrictions, communicated on December 26, 2025, will remain in effect until 48 hours after the Q3FY26 results declaration, ensuring compliance with SEBI regulations and market integrity.

The earnings conference call will be attended by senior management, including CFO Keyur Shah, providing stakeholders direct access to company leadership for performance discussions and strategic insights.