Monarch Surveyors IPO: Your All-Inclusive Investor Guide
Hello investor! You're here for the Monarch Surveyors IPO, so you must be looking for the buzz on its Grey Market Premium (GMP), whether it's a good investment, and all the nitty-gritty stuff, such as price, dates, and subscription status.
I've compiled an all-inclusive guide with the most current information available as of and including July 20, 2025, to assist you in deciding whether this IPO is for you. Let's start with a friendly demeanor, new facts, and a human touch to make this as easy and beneficial as possible.
1. Monarch Surveyors IPO GMP Today
The Grey Market Premium (GMP) is a great measure of investor expectation before an IPO getting listed in the stock market. For Monarch Surveyors, the GMP on July 19, 2025, is ₹150 per share, and we do not indicate that it has changed up to July 20, 2025.
This shows shares are being exchanged at a premium of ₹150 from the issue price in the grey market, which is a positive indication of high demand.
GMP Snapshot:
- Current GMP: ₹150 (effective July 19, 2025)
- High: ₹150 (July 19, 2025)
- Low: ₹0 (July 18, 2025)
- Premium: About 60% above the higher price band of ₹250
This strong GMP indicates investors are confident of a good listing, which can easily provide a 60% listing day return (July 29, 2025). Grey market trends could reverse, so be careful of more recent data near the listing date. Source: IPO Watch
2. Monarch Surveyors IPO Summary
Monarch Surveyors and Engineering Consultants Ltd, Pune, has been offering end-to-end consultancy services for infrastructure projects since 1999.
The company, with 507 employees and 68 ongoing projects as of March 31, 2025, undertakes surveying, geotechnical investigations, design, GIS-based land acquisition, and project management. Its IPO is a new issue of 37.50 lakh shares and aims to raise approximately ₹93.75 crore.
Here is an overview of the IPO information:
| Explanation | Data |
|---|---|
| IPO Type | Bookbuilding IPO, Fresh Issue |
| IPO Size | ₹93.75 crores, 37.50 lakh shares |
| Price Band | ₹237 to ₹250 per share |
| Lot Size | 600 shares |
| Minimum Investment (Retail) | ₹2,84,400 (1,200 shares, 2 lots) |
| Minimum Investment (HNI) | ₹4,50,000 (1,800 shares, 3 lots) |
| IPO Open Date | July 22, 2025 |
| IPO Close Date | July 24, 2025 |
| Allotment Date | July 25, 2025 |
| Listing Date | July 29, 2025 |
| Listing Exchange | BSE SME |
| Lead Manager | Beeline Capital Advisors Pvt Ltd |
| Registrar | Bigshare Services Pvt Ltd |
| Market Maker | Spread X Securities Private Limited |
The amount collected will go towards:
- Machinery purchase: ₹31.99 crore
- Working capital: ₹30 crore
- General corporate purposes: Up to 25% of the amount raised
Source: Chittorgarh
3. Monarch Surveyors IPO Review
Is this IPO a hidden gem or a risky bet? Let’s break down the company’s strengths, risks, and what analysts are saying to help you decide.
Financial Results
Monarch Surveyors has experienced significant expansion over the recent past:
| Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | EBITDA Margin (%) | ROCE (%) | Debt/Equity |
|---|---|---|---|---|---|
| FY23 | 71.68 | 8.59 | 16.29 | 22.20 | 0.19 |
| FY24 | 139.49 | 30.01 | 30.67 | 48.54 | 0.18 |
| FY25 | 154.14 | 34.83 | 33.15 | 39.59 | 0.13 |
- Revenue Growth: From ₹71.68 crore in FY23 to ₹154.14 crore in FY25 (+115%).
- Profit Growth: Net profit increased from ₹8.59 crore to ₹34.83 crore (+305%).
- Profitability: Healthy EBITDA margin (33.15% in FY25) and ROCE (39.59%) indicate efficient operations.
- Low Debt: The 0.13 FY25 debt-to-equity ratio indicates a strong balance sheet.
Valuation
At the upper price band of ₹250, the P/E multiple of the IPO is 7.08–7.47 (on FY25 EPS of ₹33.47). In comparison to its peers, such as Dhruv Consultancy (P/E: 15.90) and Rudrabhishek Enterprises (P/E: 23.53), Monarch Surveyors is reasonably priced and can be a value buy.
Revenue Mix (FY25)
- DPR for Roads: ₹95.12 crore (60.81%)
- Indian Railways FLS: ₹22.16 crore (14.71%)
- Land Acquisition: ₹10.31 crore (6.84%)
- Gedo Trolley: ₹8.81 crore (5.85%)
- Geographic Location: 99.13% of India, 84.02% of Maharashtra.
Risks to Consider
- Client Concentration: 84.52% of FY25 revenue comes from the Top 10 clients, which would be risky if the major clients are lost.
- Geographic Concentration: 84.02% of revenues are from Maharashtra, thus vulnerable to local slowdowns.
- Litigations: Directors have litigations of ₹0.19 crore, and the company has litigations of ₹0.03 crore.
- Contingent Liabilities: ₹16.16 crore in FY25, compared to ₹7.42 crore in FY23.
- SME IPO Risks: Lower liquidity and higher volatility than mainboard IPOs.
Editor's Verdict
- IPO Central: Calls it a "value buy for long-term investors" based on its low P/E, high ROCE, and alignment with Indian infrastructure growth. They mention SME IPO risks such as lower liquidity and volatility. Source: IPO Central
- Chittorgarh: Calls it "reasonably priced" and appropriate for medium to long-term investing. A broker suggests subscribing. Source: Chittorgarh
Takeaway: The IPO is appealing to long-term investors who think that India's infrastructure story is compelling, but you must be willing to accept the risks involved in an SME IPO.
4. Monarch Surveyors IPO Price
The price band for the IPO is ₹237 to ₹250 per share with a face value of ₹10 per share. On the higher side, it is justified given the company's financials and growth.
The lot size is 600 shares, so the minimum retail investor investment would be ₹2,84,400 (1,200 shares, 2 lots).
5. Monarch Surveyors IPO Dates
Here's the whole timeline:
| Event | Date |
|---|---|
| Anchor Book Opens | July 21, 2025 |
| IPO Opens | July 22, 2025 |
| IPO Completes | July 24, 2025 |
| Allotment Completion | July 25, 2025 |
| Refund/Credit to Demat | July 28, 2025 |
| Listing Date | July 29, 2025 |
6. Monarch Surveyors IPO Subscription
As of July 20, 2025, the IPO has not yet opened (it opens on July 22, 2025), so subscription details are not yet available. But:
- The anchor book opens on 21st July 2025, with a lot size of ₹26.54 crore (10,61,400 shares).
- The ₹150 GMP (60% premium) indicates robust pre-IPO demand, which tends to result in robust subscription levels upon IPO opening.
Verify the live subscription status as of 22nd July 2025 on websites such as IPO Central or BSE India.
7. Monarch Surveyors IPO Trending News and Insights
Monarch Surveyors IPO is causing a stir in the market, particularly in the grey market. Here's what's hot:
- Strong Grey Market Performance: ₹150 GMP has been in the spotlight, with the media terming it one of the hottest grey market IPOs. Source: Navbharat Times
- High Investor Interest: Moneycontrol points out that Monarch Surveyors, among other soon-to-be-listed IPOs, has witnessed GMPs rise up to 60%, indicative of positive sentiment. Source: Moneycontrol
- Media Frenzy: Hindi media outlets like Live Hindustan have been covering the high GMP of the IPO, with headlines like "GMP has crossed 150 rupees," indicating the zeal of retail investors. Source: Live Hindustan
The buzz suggests Monarch Surveyors could see a strong listing, but the actual performance will depend on subscription numbers and market conditions.
8. Is Monarch Surveyors IPO a good investment?
Whether to bid for this IPO is a choice that depends on your risk appetite and investment horizon. Here's a balanced view:
Why You Would Want to Apply
- Attractive Valuation: With a P/E of 7.08–7.47 below the peer group, there's value offered.
- Solid Foundations: Durable top-line and bottom-line growth, with high ROCE and low gearing.
- Infrastructure Growth: The firm is poised to benefit from India's infrastructure growth.
- High GMP: 60% premium indicates possible gain in listing.
Why You Would Second-Guess
- SME IPO Risks: Lower liquidity and greater volatility with respect to mainboard IPOs.
- Risk of Concentration: Over-reliance on too few clients and Maharashtra for revenues.
- Litigations and Liabilities: Minor litigations and ₹16.16 crore in contingent liabilities may be a worry.
Recommendation: If you are a long-term investor and are comfortable with the risks of SME IPO, this is an opportunity. The low valuation and strong fundamentals are tempting, considering the booming infrastructure sector in India. But if you prefer safer and liquid investments, you might want to wait and observe its performance after listing.
9. Monarch Surveyors IPO FAQs
Following are some frequently asked questions regarding the IPO:
₹237 to ₹250 per share
Opens: 22nd July 2025; Closes: 24th July 2025
600 shares
₹2,84,400 (1,200 shares, 2 lots for retail)
July 25, 2025
July 29, 2025
Purchase of equipment (₹31.99 crore), working capital (₹30 crore), and general corporate purposes
Offers consultancy services for infrastructure projects such as surveying, design, and project management
For further information, check out the Red Herring Prospectus (RHP) at Monarch Consultants.
Final Thoughts
The Monarch Surveyors IPO is proving to be a thrilling opportunity for investors, with a GMP of ₹150, a decent price band of ₹237–₹250, and robust financials. The company's alignment with India's infrastructure expansion and reasonable valuation make it an attractive option for long-term investors.
Yet the risks of an SME IPO, such as lower liquidity and client concentration, make you think twice before proceeding. If you are willing to take a ride on the infrastructure wave and can stomach some volatility, this IPO can be a blockbuster. Monitor the subscription figures from July 22, 2025, to understand demand, and check allotment status on July 25, 2025, on Bigshare Services.
