Mahendra Realtors & Infrastructure was incorporated on June 8, 2007. The company offers a range of services, including structural repairs, waterproofing, retrofitting, corporate interiors, and infrastructure restoration. It has executed major projects for government and public sector clients using advanced techniques like polymer mortar, micro concrete, & steel jacketing
| Bidding Dates |
|---|
| 12 Aug 2025 - 14 Aug 2025 |
| Subscription |
|---|
| 25.2x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,40,000 | 2 | 2 | 1600 | 5.8 M | ₹75 - ₹85 | 73.68 % | ₹436.3 M - ₹494.5 M | RHP DOC |
Mahendra Realtors IPO SUBSCRIPTION STATUS
14 Aug '25Mahendra Realtors IPO overall subscription rate was 25.2 times the total available shares
Mahendra Realtors IPO retail subscription rate was 34.74 times in the retail segment
Mahendra Realtors IPO non-institutional investor subscription rate was 84.17 times in the non-institutional investor category
Mahendra Realtors IPO Qualified Institutional Bidder subscription rate was 0.84 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Aug 2025 (Day 3) | 34.74x | 84.17x | 0.84x |
13 Aug 2025 (Day 2) | 2.16x | 2.62x | - |
12 Aug 2025 (Day 1) | 0.3x | 0.4x | - |
Mahendra Realtors FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 124.8 | 14.9 | -5.6 | -5.7 | 17.6% |
| FY24 | 101.5 | 11.6 | 21.8 | 21.5 | 16.8% |
| FY23 | 63.0 | 4.0 | 10.0 | 9.9 | 14.3% |
Mahendra Realtors IPO SUBSCRIPTION STATUS DETAILS
Mahendra Realtors had 5.8 M shares on offer
Mahendra Realtors IPO offer price was in the range ₹75 - ₹85
Mahendra Realtors IPO minimum Investment was ₹240000
Mahendra Realtors IPO issue size was ₹ 436.3 M - ₹ 494.5 M
Mahendra Realtors had a minimum lot size of 1600 Shares per application
Mahendra Realtors NUMBER OF SHARES ON OFFER
Mahendra Realtors IPO IMPORTANT DATES
| Issue Open Date | 12 Aug 2025 |
| Issue close Date | 14 Aug 2025 |
| Allotment Date | 18 Aug 2025 |
| Refund Date | 19 Aug 2025 |
| Demat Account Credit Date | 19 Aug 2025 |
| Listing Date | 20 Aug 2025 |
| Listing on Exchange(s) | NSE |
| Mahendra Realtors Allotment Status | Exchange/ Registrar |
Mahendra Realtors IPO subscription opened on 12 Aug 2025, and closed on 14 Aug 2025
IPO allotment for Mahendra Realtors was finalized on Monday, 18 Aug 2025
IPO listing for Mahendra Realtors was on NSE on Wednesday, 20 Aug 2025
Mahendra Realtors IPO LISTING GAINS
| Issue Price (adjusted) | 85.0 |
| Listing Open Price | 68.0 |
| Listing Close Price | 64.6 |
| Listing Gain% | -20.0% |
| Current Gain% | -17.8% |
Mahendra Realtors Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mahendra Realtors & Infrastructure Ltd. | 69.9 | 154.5 | 8.7 | 0.4 | 1.1 | 14.3 | 9.7 | 141.1 | 9.7 | 17.7 | 19.4 | 8 | 19.4 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Mahendra Realtors INFORMATION ON IPO ISSUE
About Mahendra Realtors
Mahendra Realtors & Infrastructure was incorporated on June 8, 2007. The company offers a range of services, including structural repairs, waterproofing, retrofitting, corporate interiors, and infrastructure restoration. It has executed major projects for government and public sector clients using advanced techniques like polymer mortar, micro concrete, & steel jacketing
Object of the Issue
- To meet the working capital requirements of the company
- To meet the general corporate purposes
- To meet the issue expenses
Mahendra Realtors - PROMOTERS
| Name |
|---|
| Hemanshu Shah |
| Bhavesh Mahendrakumar |
| Chandrika Mahendra Shah |
| Hetal Bhavesh Shah |
| Varsha Hemanshu Shah |
Mahendra Realtors - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Hemanshu Shah | Managing Director |
| Bhavesh Mahendrakumar Shah | Whole-time Director |
| Hetal Bhavesh Shah | Non-Executive Director |
| Shiv Karan | Non-Executive Independent Director |
| Shah Amit Rajeshkumar | Non-Executive Independent Director |
Mahendra Realtors Book Running Lead Manager
Fast Track Finsec Private Limited
mb@ftfinsec.com
Mahendra Realtors Registrar to the issue
MUFG Intime India Private Limited
mahendrarealtors.smeipo@in.mpms.mufg.com
Mahendra Realtors Strengths
BOT model
The company has adapted the Build-Operate-Transfer (BOT) model for building projects, managing design, construction, and operation before transferring assets to government authorities. Revenue is generated through sub-leasing during the operational phase, with ownership transferred at contract end
Specialised skills
The company specialises in handling government projects by navigating procurement, ensuring regulatory compliance, and meeting ISO quality and deadline standards. Its expertise in public-sector contracting helps it stand out in a competitive and regulated environment
Client relationship
The company’s strong ties with government agencies and industry partners offer an edge in securing contracts and accessing market insights. This network supports opportunity identification and long-term growth in the government sector
Mahendra Realtors Risks
Project delay risks
Project delays, changes, or cancellations—due to client needs, defaults, or unforeseen events—can lead to extra costs, penalties, or contract termination. Delays may also impact revenue recognition if completion targets aren't met on time
Labour intensive
The company relies heavily on contract labour from sub-contractors at project sites. Labour shortages, strikes, wage hikes, or regulatory changes may disrupt operations and affect cash flows
Weather disruption risks
Severe weather conditions like heavy rain or cyclones can disrupt construction, damage equipment, and delay material deliveries. Such events may lead to reduced revenues and higher fixed costs, impacting overall operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 9.3 crore, of 1,091,200 shares. It also consists of a fresh issue of Rs 40.2 crore.
The promoters of the company are Hemanshu Shah, Bhavesh Mahendrakumar, Chandrika Mahendra Shah, Hetal Bhavesh Shah and Varsha Hemanshu Shah.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 75.0 - 85.0.
The IPO application opens on Aug 12, 2025 and closes on Aug 14, 2025.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 240,000.0, the maximum value for this IPO is Rs 272,000.0.
This IPO will be allotted on Aug 18, 2025.
The refund will be credited to your account on Aug 19, 2025.
The allotted shares will be credited to your demat on Aug 19, 2025.
Mahendra Realtors & Infrastructure Ltd.’s shares listed on the stock exchanges on Aug 20, 2025.