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MTE Structures IPO Details
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About MTE Structures IPO
The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include up to 37,06,000* equity shares of face value of ₹10 each aggregating to ₹ [●] crores. The offer for sale portion includes up to 6,54,000* equity shares of face value of ₹10 each aggregating to ₹ [●] crores. The total number of shares is up to 43,60,000 while the aggregate amount is yet to be finalised.
*Subject to finalisation of Basis of Allotment.
The MTE Structures IPO opens on XX and closes on YY. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.
MTE Structures is a trusted manufacturer of high-quality solar mounting systems, committed to delivering innovative, durable, and sustainable solutions for the solar energy sector. They serve a wide range of clients across India. Their product portfolio is categorised into Roof Systems and Ground Mounted Systems, each designed to withstand extreme weather conditions like heavy snow, thick ice, high winds, sandstorms, and seismic activities, ensuring long-term durability and reliability.
Objectives of MTE Structures
- Funding the working capital requirements of the company.
- General corporate purposes.
MTE Structures IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 37,06,000* equity shares of face value of ₹ 10 each aggregating to ₹ [●] crores |
Offer for Sale | Up to 6,54,000* equity shares of face value of ₹ 10 each aggregating to ₹ [●] million |
EPS (in ₹) for FY25 | 10.41 |
Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Investors (NIIs) | Not less than 15% of the net offer |
Retail-individual Investors (RIIs) | Not less than 35% of the net offer |
Industry Outlook
The Indian solar panel mounting structure market is set to witness sustained growth due to rising solar energy adoption, favourable government policies, and increasing investments in renewable energy projects. The growing shift toward rooftop solar installations and utility-scale projects will drive industry expansion.
By 2025, the industry is expected to reach USD 27.69 crores, driven by increased deployment in commercial and residential sectors. Maintaining a CAGR of 11.3%, the industry is projected to hit USD 80.74 crores by 2035. The emphasis on net-zero carbon goals and continued policy support will sustain long-term industry growth.
MTE Structures Company Information
MTE Structures is engaged in the manufacturing of specialised solar panel mounting structures and provides solar mounting solutions. They manufacture two types of solar mounting structure systems which are roof systems and ground-mounted systems. They have extensive experience in the solar panel mounting structure industry, providing advanced solutions tailored for commercial and utility-scale projects.
They are exclusively engaged in the manufacturing of solar mounted structures, enabling them to channel all their resources, expertise, and innovation toward this rapidly expanding solar industry. This focused approach positions them in their industry dedicated to the solar domain, thereby making them a natural beneficiary of the sector’s robust growth trajectory and the strong policy support for renewable and green energy initiatives.
Strengths of MTE Structures
- Their manufacturing operations are sufficiently advanced, with in-house design, engineering, order management and sales and marketing skills.
- Diverse customer base and long-standing relationships with customers.
- Demonstrated financial performance and status of their order book.
- Experienced and qualified promoters and management team.
Risks of MTE Structures
- Any decline in the demand for Ground Mounted Structures.
- Increases in the prices of raw materials.
- Any adverse developments affecting their operations in Gujarat and Maharashtra.
- Any interruption in the availability of raw materials.
- Interest rate fluctuations.
All Financial Information about MTE Structures Ltd (in ₹ crores)
Peer Comparison
| Company Name | Revenue from Operations (₹ crores) | P/E Ratio* | EPS (Basic) (₹) | NAV per share (₹) |
|---|---|---|---|---|
MTE Structures | 193.883 | [●] | 10.41 | 17.20 |
KP Green Engineering Ltd | 694.642 | 37.38 | 14.70 | 6.48 |
Bondada Engineering Ltd | 1571.377 | 47.54 | 10.33 | 43.42 |
Anchor Investor Bidding Date: TBA
Registrar: MUFG Intime India Private Limited Book Running Lead Managers: GYR Capital Advisors Private Limited
MTE Structures Business Model
The company earns its revenue through the following: Manufacturing specialised solar panel mounting structures and providing solar mounting solutions. They manufacture two types of solar mounting structure systems which are roof systems and ground-mounted systems.
MTE Structures Growth Trajectory
The total income of MTE Structures for fiscal 2025 was ₹194.51 crores against a total income of ₹121.01 crores for fiscal 2024.
Their revenue from operations for fiscal 2025 was ₹193.88 crores against revenue from operations of ₹120.81 crores for fiscal 2024.
Their profit after tax for fiscal 2025 was ₹13.43 crores against a profit after tax of ₹4.86 crores in fiscal 2024.
Their EBITDA increased from ₹7.00 crores in fiscal 2024 to ₹18.81 crores in fiscal 2025.
MTE Structures Market Position
MTE Structures’ operations span across multiple regions, supported by regional expertise and localised supply chains. They have developed a reputation as a reliable provider of solar mounting solutions, fostering strong partnerships with clients across diverse markets.
As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹194.505 crores, ₹13.434 crores, and ₹18.808 crores, respectively.
MTE Structures Profit and Loss Statement (in ₹ crores)
| parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Total Income | 194.505 | 121.010 | 67.233 |
Profit Before Tax | 16.406 | 5.881 | 2.710 |
Profit After Tax | 13.434 | 4.860 | 2.238 |
EPS (Basic) ₹ | 10.41 | 3.77 | 1.73 |
EBITDA | 18.808 | 7.002 | 3.375 |
MTE Structures Balance Sheet (in ₹ crores)
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Profit Before Tax | 16.406 | 5.881 | 2.710 |
Net Cash from Operating Activities | 1.175 | (3.736) | (0.582) |
Net Cash from Investing Activities | (6.103) | (1.687) | (1.016) |
Net Cash from Financing Activities | 5.871 | 4.380 | 1.848 |
Cash & Cash Equivalents | 1.047 | 0.103 | 1.147 |
How to check the allotment status of MTE Structures IPO?
1. Visit the Registrar's Website
To check the IPO allotment status for MTE Structures IPO, visit the official website of MUFG Intime India Private Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.
2. Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.
On the BSE IPO page, follow these steps
- Select 'Equity' from the dropdown menu
- Choose 'MTE Structures' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search'
Your MTE Structures IPO allotment status will be displayed.
3. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check MTE Structures IPO allotment status.
Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Application number
- PAN
Then click 'Submit'. Your MTE Structures IPO bid and allotment details will be displayed.
How to apply for MTE Structures IPO?
- Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: 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.
MTE Structures IPO FAQs
Where can I read more about MTE Structures business?
You can read more about MTE Structures and its IPO from the company’s red herring prospectus (RHP) here.
What is the MTE Structures IPO?
MTE Structures’ IPO consists of a fresh issue of up to 37,06,000* equity shares of face value of ₹10 each aggregating to ₹ [●] crores and an offer for sale of up to 6,54,000* equity shares of face value of ₹10 each aggregating to ₹ [●] crores. The total offer size combines both components and is up to 43,60,000* equity shares of face value of ₹10 each aggregating to ₹ [●] crores.
Is MTE Structures IPO coming?
Yes, MTE Structures is expected to come up with its IPO soon.
Who is the Chairman of MTE Structures?
Hiren Arvindbhai Patel is the Chairman of MTE Structures.
What is the lot size of shares of MTE Structures IPO?
The company hasn’t given any information on the lot size yet.
From where can I read more about the IPO of MTE Structures?
You may read more about MTE Structures and its IPO from the company’s draft red herring prospectus (DRHP) here.