Mahendra Realtors & Infrastructure IPO
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Schedule of Mahendra Realtors & Infrastructure
| Issue open date | 12 Aug 2025 |
| Issue close date | 14 Aug 2025 |
| UPI mandate deadline | 14 Aug 2025 (5 PM) |
| Allotment finalization | 18 Aug 2025 |
| Refund initiation | 19 Aug 2025 |
| Share credit | 19 Aug 2025 |
| Listing date | 20 Aug 2025 |
| Mandate end date | 29 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 17 Sep 2025 |
| Lock-in end date for anchor investors (remaining) | 16 Nov 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Mahendra Realtors & Infrastructure
Incorporated in 2007, Mahendra Realtors and Infrastructure Limited is a diversified infrastructure services company specialising in structural repairs, rehabilitation, retrofitting, waterproofing, corporate interior works, and Build-Operate-Transfer (BOT) projects. It also undertakes general construction and infrastructure restoration assignments. With over 200 completed projects for 50+ clients, the company is recognised for delivering technically complex infrastructure solutions with precision and reliability.
Financials of Mahendra Realtors & Infrastructure
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹49.45 crores |
| Fresh Issue | ₹40.17 crores |
| Offer for sale | ₹9.28 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirement | 30.40 (75.6%) |
| General corporate purposes |
Strengths
- Established reputation that has contributed to the long-term success and stability of the business.
- Strong network with government agencies, allowing company to secure contracts, gathering market intelligence etc.
- Maintains solid financial health, ensuring that it has necessary resources to invest in projects and manage other costs.
- Specialises in government contract management, ensuring compliance, quality delivery, and relationship building within complex procurement processes.
Risks
- High reliance on Maharashtra for revenue generation, exposing the business to regional disruptions
- Dependence on few customers & suppliers without contracts may disrupt operations
- Outstanding legal proceedings involving the company, directors, and promoters may impact cash flows and operations
- Inability to secure timely and adequate working capital, and recent negative cash flows may impact growth
- Tender-based model exposes revenue to bid outcome uncertainties
Subscription Figures for Mahendra Realtors & Infrastructure
As per media reports (Link), the Grey Market Premium (GMP) of Mahendra Realtors & Infrastructure is reported at ₹6 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on August 14, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 0.56 | 24.40 | 43.57x |
| NII | 27.07 | 731.55 | 27.02x |
| Retail | 27.63 | 707.20 | 25.59x |
| Total | 58.17 | 1463.15 | 25.15x |