The company has fixed a price band of Rs 75 to Rs 85 per share, with a lot size of 1,600 shares. Retail investors can apply for a minimum of two lots (3,200 shares). According to market observers, the grey market premium (GMP) for the issue is currently around 7%
The tentative basis of allotment will be finalised on August 18, with refunds and credit of shares to demat accounts expected on August 19. Listing on NSE SME is scheduled for August 20.
Fast Track Finsec is the book-running lead manager, and MUFG Intime India (Link Intime) is the registrar to the issue.
Mahendra Realtors specialises in structural repairs, rehabilitation, retrofitting, waterproofing, corporate interiors, BOT projects, and infrastructure restoration.
The company has executed high-profile projects such as repairs for CIDCO’s Vashi and Belapur railway stations, retrofitting at Ghatkopar with IIT Bombay certification, and interiors for institutions like IIT Bombay, Airport Authority of India, VVIP Circuit House in Pune, and SVP Hospital in Ahmedabad.With over 200 projects completed for more than 50 clients, the company operates across multiple states, including Maharashtra, Gujarat, Goa, Andhra Pradesh, Tamil Nadu, and Delhi.Financially, Mahendra Realtors reported a 22% rise in revenue to Rs 128.69 crore in FY25, with profit after tax increasing 28% to Rs 14.87 crore.The IPO proceeds will primarily fund working capital requirements of Rs 30.40 crore, alongside general corporate purposes and issue expenses.
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