IPO Details
RHP/DRHPIssue Date
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Price Range
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IPO Size
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Schedule of Mahendra Realtors & Infrastructure IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Mahendra Realtors & Infrastructure Ltd IPO
A 100% book-built issue, the IPO of Mahendra Realtors & Infrastructure Ltd comprises a fresh issue and an offer for sale. The fresh issue is up to 47,26,400 equity shares, while the offer for sale is up to 10,91,200 equity shares of face value of ₹10 respectively.
Objectives of Mahendra Realtors & Infrastructure Ltd IPO
- To meet the working capital requirements of the company
- To meet general corporate purposes
- To meet issue expenses
Mahendra Realtors & Infrastructure Ltd Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 47,26,400 equity shares |
Offer for Sale | Up to 10,91,200 equity shares |
EPS in ₹ for FY 24 | 6.66 |
Mahendra Realtors & Infrastructure Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Investors | Not less than 15% of the net issue |
Retail Individual Investors | Not less than 35% of the net issue |
Industry Outlook
India’s high growth imperative in 2023 and beyond will significantly be driven by major strides in key sectors with infrastructure development being a critical force aiding the progress. Infrastructure is a key enabler in helping India become a US$ 26 trillion economy. The US$ 1.3 trillion national master plan for infrastructure, Gati Shakti, has been a forerunner to bring about systemic and effective reforms in the sector and has already shown a significant headway.
India's infrastructure sector is set for robust growth, with planned investments of US$ 1.4 trillion by 2025. According to CRISIL’s Infrastructure yearbook 2023, India will spend nearly Rs. 143 lakh crores (US$ 1,727.05 billion) on infrastructure in seven fiscals through 2030, more than twice the nearly Rs. 67 lakh crores (US$ 912.81 billion) spent in the previous seven years.
Company Information
Mahendra Realtors & Infrastructure Ltd is engaged in providing a wide variety of services including but not limited to structural repairs, rehabilitation, retrofitting, water proofing, corporate interior, build-operate-transfer (BOT) Projects, maintenance, construction, infrastructure restoration etc. The company has undertaken several structural repairs projects for various government departments and public sectors organisations.
Mahendra Realtors & Infrastructure Ltd Strengths
Experienced and qualified management and employee base
Strong and consistent financial performance
Growing customer base
Scalable and reliable business model
Experienced promoters and senior management with extensive domain knowledge
Risks of Mahendra Realtors & Infrastructure Ltd IPO
- Customer concentration
The company’s top 10 customers contribute more than 50% of the revenue in the all three financial years and stub period. The loss of any one or more of its major customers would have a material adverse effect on its business, cash flows, results of operations and financial condition.
- Acceptance of government bids
The company’s revenues largely depend on acceptance of the bids submitted to the Government and Government Departments. Its performance could be affected in case the majority of the bids are not accepted / awarded to it or if it quotes a lower bid value.
- Geographical concentration
The geographical concentration of its customer base may restrict its operations and adversely affect Its business, results of operations, and financial conditions in the future.
All Financial Information about Mahendra Realtors & Infrastructure
Comparison with peers
| Company Name | PAT (in ₹crores) | Return on Net Worth (in %) | NAV in ₹ per share | P/E Ratio |
|---|---|---|---|---|
Mahendra Realtors and Infrastructure Ltd | 11.5783 | 23.05 | 32.24 | NA |
AB Infrabuild Ltd | 11.4174 | 0.20 | 18.44 | 32.36 |
Maruti Infrastructure Ltd | 1.6895 | 0.02 | 20.60 | 11.7 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Link Intime India Pvt Ltd
- Book Running Lead Manager: Fast Track Finsec Pvt Ltd
Business Model
The services of Mahendra Realtors & Infrastructure Ltd include:
- Works contract including structural repairs, restoration and retrofitting
- Corporate interior
- Build and operate transfer contractors
- Infrastructure restoration
Company Growth Trajectory
The revenue from operations of Mahendra Realtors & Infrastructure Ltd grew from ₹92.6645 crores in FY 22 to ₹101.4898 crores in FY 24. Its EBITDA margin increased from 13.72% in FY 22 to 16.75% in FY 24. The company’s PAT margin increased from 7.97% in FY 22 to 11.41% in FY 24.
Market Position
Mahendra Realtors & Infrastructure Ltd has completed more than 200 projects for over 50 clients. It has undertaken several structural repairs projects for various government departments and public sectors Organisations such as structural repairs projects at CIDCO Vashi Railway Station and Belapur Railway Station. It has also successfully completed various corporate interior projects at IIT Bombay, Airport Authority of India, etc.
Mahendra Realtors & Infrastructure Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 105.1096 | 66.0663 | 95.2671 |
Profit/(Loss) Before Tax (in ₹ crores) | 15.4800 | 6.1695 | 9.7920 |
Profit After Tax (in ₹ crores) | 11.5783 | 4.0412 | 7.3842 |
EPS in ₹ | 6.66 | 2.33 | 4.25 |
Mahendra Realtors & Infrastructure Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit/(Loss) Before Tax (in ₹ crores) | 15.4800 | 6.1695 | 9.7920 |
Net Cash From (or used in) Operating Activities (in ₹ crores) | 21.8213 | 9.9586 | (11.2920) |
Net Cash From (or used in) Investing Activities (in ₹ crores) | (12.8708) | 9.7242 | (12.1246) |
Net Cash From (or used in) Financing Activities (in ₹ crores) | (28.6813) | (3.8758) | 22.8619 |
Cash & Cash Equivalents at the End of the Period (in ₹ crores) | 0.1360 | 19.8668 | 4.0598 |
How to Check Allotment Status of Mahendra Realtors & Infrastructure Ltd?
1. Visit the Registrar’s Website
- Visit the website of Link Intime India Pvt Ltd, now MUFG India Pvt Ltd
- Select ‘Public Issues’ from ‘Investor Services’ dropdown
- Select ‘Company Name’ and enter either your PAN, Application No, DP Client ID, etc
- Click on ‘Submit’ to know the status
2. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Mahendra Realtors & Infrastructure Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Mahendra Realtors & Infrastructure Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Mahendra Realtors & Infrastructure IPO FAQs
Where can I read more about Mahendra Realtors & Infrastructure business?
You can read more about Mahendra Realtors & Infrastructure and its IPO from the company’s red herring prospectus (RHP) here.
What is the Mahendra Realtors & Infrastructure Ltd IPO?
The IPO of Mahendra Realtors & Infrastructure Ltd comprises a fresh issue and an offer for sale of up to 47,26,400 and 10,91,200 equity shares, respectively.
When will the IPO of Mahendra Realtors & Infrastructure Ltd go live?
The exact dates of the IPO are yet to be announced.
Who is the MD of Mahendra Realtors & Infrastructure Ltd IPO?
Hemanshu Shah is the MD of Mahendra Realtors & Infrastructure Ltd.
From where can I read more about the IPO of Mahendra Realtors & Infrastructure Ltd?
You can read more about the IPO of Mahendra Realtors & Infrastructure Ltd from the company’s draft red herring prospectus here.
