Mahendra Realtors Debuts on NSE SME Platform with Flat Listing
Mahendra Realtors and Infrastructure Limited (MRIL) listed on the NSE SME platform following a Rs 49.45 crore IPO. The issue was oversubscribed 25.15 times, with shares expected to list at the issue price of Rs 85. MRIL, specializing in structural repairs and infrastructure services, reported a 22% revenue increase to Rs 128.70 crore and a 28% profit growth to Rs 14.90 crore. IPO proceeds will primarily fund working capital requirements.
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Mahendra Realtors and Infrastructure Limited (MRIL) made its debut on the National Stock Exchange (NSE) SME platform today, following a successful Initial Public Offering (IPO) that raised Rs 49.45 crore. The company's shares are expected to list around the issue price of Rs 85 per share, as indicated by a 0% grey market premium.
IPO Performance
The IPO of Mahendra Realtors garnered significant interest from investors, with an overall subscription rate of 25.15 times. This strong response demonstrates investor confidence in the company's business model and growth prospects.
Company Profile
Mahendra Realtors and Infrastructure Limited specializes in providing structural repairs, rehabilitation, and infrastructure services. The company has a track record of executing over 200 projects for notable clients, including:
- City and Industrial Development Corporation of Maharashtra (CIDCO)
- Indian Institute of Technology (IIT) Bombay
- Airport Authority of India
This diverse client base showcases the company's expertise and reputation in the infrastructure sector.
Financial Performance
MRIL has demonstrated robust financial growth in recent periods:
| Financial Metric | Amount (Rs Crore) | Growth (%) |
|---|---|---|
| Revenue | 128.70 | 22.00 |
| Profit After Tax | 14.90 | 28.00 |
The company's revenue increased by 22% to Rs 128.70 crore, while its profit after tax saw a significant jump of 28% to Rs 14.90 crore. This growth trajectory indicates the company's ability to expand its operations while maintaining profitability.
IPO Proceeds Utilization
The funds raised through the IPO will be allocated as follows:
- Working Capital Requirements: Rs 30.40 crore
- General Corporate Purposes: Remaining amount
This allocation strategy aims to strengthen the company's financial position and support its ongoing operations and growth initiatives.
Market Debut
Despite the strong IPO subscription, the grey market premium stands at 0%, suggesting a flat listing for Mahendra Realtors. Investors and market observers will be closely watching the stock's performance in its initial trading sessions to gauge market sentiment and potential future trends.
The listing of Mahendra Realtors and Infrastructure Limited on the NSE SME platform marks an important milestone for the company, providing it with access to capital markets and potentially enhancing its visibility in the infrastructure sector. As the company embarks on this new phase, stakeholders will be keen to see how it leverages this opportunity to fuel its growth and expansion plans.
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