Here are the full details on the Monarch Surveyors & Engineering Consultants Ltd. IPO, based on authoritative sources:
Incorporated in 1999 (originally as Monarch Surveyors and Contractors Private Limited), converted into a public limited company in January 2024 as Monarch Surveyors & Engineering Consultants Ltd.
IPO Timeline
- Opening Date: July 22, 2025
- Closing Date: July 24, 2025
- Allotment Finalization: July 25, 2025
- Refund Initiation & Credit to Investor Demat: July 28, 2025
- Listing Date: July 29, 2025 on BSE SME
IPO Details
- Issue Size: ₹93.75 crore via issuance of 3.75 million fresh equity shares (no offer-for-sale component)
- Face Value: ₹10 per share
- Price Band: ₹237 – ₹250 per share
- Lot Size: 600 shares per lot; bids in multiples of 600 shares thereafter
- Offer Size: ₹93.75 crore (3.75 million equity shares)
- Retail Investment: Minimum ₹142.2 k–₹150 k (600 shares); two lots ~₹300 k
- Issue Type: Bookbuilding IPO
- Listing At: BSE SME
- Share Holding Pre Issue: 1,04,06,000 shares
- Share Holding Post Issue: 1,41,56,000 shares
GMP of Monarch Surveyors & Engineering Consultants Ltd. IPO
The current Grey Market Premium (GMP) for the Monarch Surveyors & Engineering Consultants Ltd. IPO is approximately ₹ 60 per share, which represents around 24% premium over the upper price band of ₹ 250. Based on that:
Estimated listing price ≈ ₹310 per share (₹ 250 + ₹ 60)
Key Details
- Issue Price Band: ₹ 237 – ₹ 250
- GMP: ~₹ 60, indicating estimated listing price around ₹ 310 (~24–25% upside)
Promoters of Monarch Surveyors & Engineering Consultants Ltd.
Here are the detailed profiles of the promoters of Monarch Surveyors & Engineering Consultants Ltd., based on the company’s RHP and MCA filings:
Mr. Dattatraya Mohaniraj Karpe
- One of the four founding directors since the firm’s incorporation in July 1999.
- Serving as Managing Director or key promoter with major equity holdings.
Mr. Sanjay Bhalchandra Vidwans
- Founding director from incorporation, and a Whole‑Time Director in the private company era.
Mr. Sunil Shrikrishna Bhalerao
- One of the original directors since 1999 and continuing as key promoter.
Mr. Bhartesh Rajkumar Shah
Background & Governance
All four directors were appointed on 20 July 1999, the date of incorporation under their Director Identification Numbers (DINs).
- They collectively founded and grew the company from the private limited entity incorporated in 1999 (originally registered as Monarch Surveyors and Contractors Pvt Ltd), later converting it to public limited status in January 2024 ahead of the IPO.
- As promoters, they are responsible for strategic direction and overall management.
- Day‑to‑day operations and governance are overseen by these individuals, alongside other executive team members such as the CFO and Company Secretary.
Summary
- Promoters: Mr. Dattatraya Mohaniraj Karpe; Mr. Sanjay Bhalchandra Vidwans; Mr. Sunil Shrikrishna Bhalerao; Mr. Bhartesh Rajkumar Shah.
- Equity Control: ~98.4% ownership pre-IPO, reduced to ~72.4% post‑IPO after fresh issuance of shares.
- Role: Founders/directors since incorporation in 1999, and driving force behind company strategy and execution.
Monarch Surveyors & Engineering Consultants Ltd. IPO Lot Size
Here’s a clear summary of the Monarch Surveyors & Engineering Consultants Ltd. IPO lot size details:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 1,200 | ₹3,00,000 |
| Individual investors (Retail) (Max) | 2 | 1,200 | ₹3,00,000 |
| S-HNI (Min) | 3 | 1,800 | ₹4,50,000 |
| S-HNI (Max) | 6 | 3,600 | ₹9,00,000 |
| B-HNI (Min) | 7 | 4,200 | ₹10,50,000 |
Key Takeaways
- A minimum of 600 shares makes up one lot for all investors.
- Retail investors can apply for 1–2 lots.
- HNI investors must apply for at least 3 lots and may hold up to 6 lots.
- B-HNI category (bulk high-net-worth) starts from 7 lots (i.e. 4,200 shares or ₹1.05 million at upper band).
- Each lot equates to a value of ₹142,200 at the floor price or ₹150,000 at the cap price.
Monarch Surveyors & Engineering Consultants Ltd. IPO Promoter Holding
Here are the detailed promoter holding figures for Monarch Surveyors & Engineering Consultants Ltd. as part of its SME IPO:
| Category | Pre‑IPO Holding | Post‑IPO Holding |
|---|---|---|
| Promoters (aggregate) | 98.42% | 72.35% |
- Pre‑IPO: The four founding promoters—Mr. Dattatraya Mohaniraj Karpe, Mr. Sanjay Bhalchandra Vidwans, Mr. Sunil Shrikrishna Bhalerao, and Mr. Bhartesh Rajkumar Shah—together hold approximately 98.42% of the equity prior to the issue.
- Post‑IPO: After the fresh issue of 37.5 lakh shares, their combined holding will dilute to around 72.35%.
About Monarch Surveyors & Engineering Consultants Ltd.
- Founded: 1992 (some sources mention 1999 for incorporation) in Pune, Maharashtra
- Headquarters: Pune, with operations across India and overseas projects in Bhutan and Sri Lanka
- Business Segment: Civil engineering consultancy focused on infrastructure development across sectors such as roads, railways, metros, ports, urban planning, water, energy, and transmission pipelines
Core Services
Monarch is an end‑to‑end infrastructure consultancy offering:
- Topographic, geospatial, and LiDAR surveys
- Geotechnical, traffic, and engineering investigations
- Conceptual design, DPR preparation, and engineering design
- GIS-based land planning & acquisition support
- Detailed Project Reports and bid process management
- Project management and technical supervision on infrastructure projects
They employ advanced technologies like DGPS/ GNSS with CORS networks, intelligent total stations, drones, LiDAR, and high‑performance computing systems.
Client Base & Execution Footprint
- Trusted by central/state agencies such as Indian Railways, municipal bodies, road authorities, and private developers
- Active projects include Pune–Nashik Industrial Expressway, Nagpur–Mumbai Greenfield Expressway, Agra Metro LiDAR surveys, and high‑speed rail DPRs
Monarch Surveyors & Engineering Consultants Ltd. Financial Information
Here’s an updated financial snapshot of Monarch Surveyors & Engineering Consultants Ltd., showcasing both historical performance and key operating metrics in tabular form:
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹148.06 Crore | ₹102.12 Crore | ₹64.51 Crore |
| Revenue | ₹155.66 Crore | ₹141.27 Crore | ₹72.72 Crore |
| Profit After Tax | ₹34.83 Crore | ₹30.01 Crore | ₹8.59 Crore |
| EBITDA | ₹51.10 Crore | ₹42.78 Crore | ₹11.68 Crore |
| Net Worth | ₹108.80 Crore | ₹73.97 Crore | ₹43.96 Crore |
| Reserves and Surplus | ₹98.40 Crore | ₹73.88 Crore | ₹43.88 Crore |
| Total Borrowing | ₹14.29 Crore | ₹12.96 Crore | ₹8.37 Crore |
- Revenue Growth: Nearly doubled from ₹72.7 crore in 2023 to ₹155.7 crore by 2025.
- Profit Growth: PAT rose significantly from ₹8.6 crore (2023) to ₹34.8 crore (2025)
- Capitalisation: Reserves expanded from ₹43.9 crore (2023) to ₹98.4 crore by 2025, while net worth increased accordingly.
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 32.01% |
| ROCE | 39.59% |
| Debt/Equity | 0.13 |
| RoNW | 32.01% |
| PAT Margin | 22.60% |
| EBITDA Margin | 33.15% |
| Price to Book Value | 2.39 |
Summary of KPI Highlights
- Monarch demonstrates strong revenue and profit growth, with margins that outperform typical SME infrastructure companies.
- High ROE and ROCE signify efficient use of equity and capital resources.
- Low debt-to-equity and modest valuation metrics (P/E, P/BV) indicate both stability and potential upside for investors.
Objects of the Issue (Monarch Surveyors & Engineering Consultants Ltd. IPO Objectives)
Here are the Objectives of the Issue (also referred to as use‑of‑proceeds) for the Monarch Surveyors & Engineering Consultants Ltd. IPO, as disclosed in the Red Herring Prospectus (RHP) and public filings:
| Purpose of the IPO Proceeds | Approx. Allocation |
|---|---|
| Funding capital expenditure for purchase of machinery | ~₹ 32.99 crore |
| Meeting working capital requirements | ~₹ 30.00 crore |
| General corporate purposes | Remaining net proceeds (balance) |
Summary
- The company plans to utilize the IPO funds mainly for machinery investment (~₹33 Cr) and working capital (~₹30 Cr).
- Remaining funds will be directed toward general corporate purposes, giving flexibility for strategic and operational uses post-listing.
Strengths of Monarch Surveyors & Engineering Consultants Ltd. IPO
1) Strong Revenue & Profit Growth
- 2025 revenue: ₹155.7 Cr; PAT: ₹34.8 Cr; strong margins and ROE/ROCE.
2) Diverse Service Portfolio
- Offers end-to-end infrastructure consulting: surveys, DPRs, GIS, design, and supervision.
3) Robust Client Base
- Works with government bodies (railways, metros, highways) and private infra firms.
4) Advanced Technology Use
- Uses LiDAR, drones, CORS-based GNSS, and modern project tools.
5) Low Debt, High Efficiency
- Debt/equity: 0.13; ROE: 32%; ROCE: ~40%; EBITDA margin: ~33%.
Risks of Monarch Surveyors & Engineering Consultants Ltd. IPO
1) High Client Concentration
- Major revenue comes from select government contracts—any disruption impacts finances.
2) Order Book Dependency
- Business depends on continuous project awards and timely execution.
3) Regulatory & Tender Risks
- Subject to public tender rules, approvals, and payment cycles.
4) SME Platform Volatility
- BSE SME stocks can be illiquid and volatile post-listing.
5) Working Capital Intensive
- Large upfront costs for manpower, machinery, and site setup before project billing.
Monarch Surveyors & Engineering Consultants Ltd. Contact Details
Here are the official contact details for Monarch Surveyors & Engineering Consultants Ltd. (based on company website and MCA directory):
Address
Monarch House
CTS No. 434/1, Near Kawade Petrol Pump, Ghorpadi Gaon, Hadapsar, Pune – 411036, Maharashtra, India
Phone Numbers
- Landline: 97665 56746
- Mobile (General): 86001 00569
Email Contacts
- Business Inquiries: connect@monarchpune.in
- Company Secretary/Investor Queries: cs@monarchpune.in
- Alternate Corporate Email (per MCA records): monarchsurveyors@gmail.com
Website
Monarch Surveyors & Engineering Consultants Ltd. IPO Registrar
Registrar of the Issue
Bigshare Services Pvt. Ltd. has been appointed as the official Registrar to the Issue for the Monarch Surveyors SME IPO.
Registrar Contact Details
| Detail | Information |
|---|---|
| Company | Bigshare Services Pvt. Ltd. |
| Office Address | S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Road, Andheri East, Mumbai – 400093, Maharashtra, India |
| Phone | +91‑22‑6263 8200 |
| Email (IPO Queries) | ipo@bigshareonline.com |
| Registrar Website | www.bigshareonline.com |
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