• Price Band fixed at ₹366 to ₹385 per equity share of face value of ₹ 10 each (“Equity Shares”);
  • The Floor Price is 36.60 times the face value of Equity Shares and the Cap Price is 38.50 times the face value of the Equity Shares;
  • Bid /Offer will open on Wednesday, July 30, 2025 and close on Friday, August 01, 2025. The Anchor Investor Bidding Date shall be Tuesday, July 29, 2025;
  • Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter;
  • RHP link:  https://cdn.equiruswealth.com/ecpl/uploads/2025/07/M&B-Engineering-Limited-RHP.pdf

Mumbai :  M & B Engineering Ltd (“MBEL” or “The Company”) shall open its Bid/Offer in relation to its initial public offer of Equity Shares on Wednesday, July 30, 2025.

The Anchor Investor Bidding Date shall be Tuesday, July 29, 2025. The Bid/Offer will open on Wednesday, July 30, 2025 for subscription and will close on Friday, August 01, 2025. Bids can be made for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter (“Bid Details”).

The Price Band of the Offer has been fixed at ₹366 to ₹385 per Equity Share (“Offer Price”).

The total Offer size of equity shares with face value ₹ 10 each aggregating up to ₹ 6,500 million [₹ 650 crore] comprises of fresh issue of equity shares aggregating up to ₹ 2,750 million [₹ 275 crore] (“Fresh Issue”) and Offer for sale of equity shares aggregating up to ₹ 3,750 million [₹375 crore] (“Offer For Sale”) (“Total Offer Size”).

The Company proposes to utilize the net proceeds from the Offer towards the following objects –(i) Funding the capital expenditure requirements for the purchase of equipment and machinery, building works, solar rooftop grid and transport vehicles at Company’s manufacturing facilities estimated to ₹1,305.79 million [₹130.58 crore]; (ii) Investment in information technology software upgradation by the Company estimated to ₹52.00 million [ ₹5.20 crore]; (iii) Re-payment or pre-payment of term loans, in full or in part, of certain borrowings availed by the Company estimated to ₹587.50 million [ ₹58.75 crore]; and (iv) General corporate purposes.

The Offer for Sale comprises of such number of equity shares aggregating up to ₹1,533.50 million [₹153.35 crore] by Girishbhai Manibhai Patel; aggregating up to ₹ 1,302.50 million [₹130.25 crore] by Chirag Hasmukhbhai Patel; aggregating up to ₹187.50 million [₹18.75 crore] by Vipinbhai Kantilal Patel; aggregating up to ₹385.00 million [₹38.50 crore] by Birva Chirag Patel; aggregating up to ₹187.50 million [₹18.75 crore] by Aditya Vipinbhai Patel (“Promoter Selling Shareholders”) and aggregating up to ₹154.00 million [₹15.40 crore] by Umaben Girishbhai Patel (“Promoter Group  Selling Shareholder”).

The Equity Shares are being offered through the red herring prospectus of the Company dated July 24, 2025 (“Red Herring Prospectus” or “RHP”) filed with Registrar of Companies, Gujarat at Ahmedabad  (“RoC”) and the Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange.

The Offer is being made in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(2) of the SEBI ICDR Regulations, through the Book Building Process wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (such portion referred to as “QIB Portion”), provided that the Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (the “Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to all QIBs.

Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors out of which (a) one-third of such portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000 ; and (b) two third of such portion shall be reserved for applicants with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Investors and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Investors in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

Further, Equity Shares will be allotted on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price (net of Employee Discount, if any). All potential Bidders (except Anchor Investors) are required to mandatorily use the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective ASBA accounts, and UPI ID in case of UPI Bidders, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank(s) under the UPI Mechanism, as applicable, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For further details, see ‘Offer Procedure’ on page 430 of the RHP.

Equirus Capital Private Limited and DAM Capital Advisors Limited are the Book Running Lead Managers to the offer. (“BRLMs”)

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.