M&B Engineering IPO allotment status: Check application, latest GMP & listing date

M&B Engineering is scheduled to finalize the basis of allotment of its shares on Monday, August 04. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by weekend or latest by Tuesday, August 05. The pre-engineered building player saw a decent response from the investors.

The IPO of Ahmedabad-based M&B Engineering was open for bidding between July 31 and August 01. It had offered its shares in the price band of Rs 366-385 per share with a lot size of 38 shares. The company raised a total of Rs 650 crore from its IPO, which included a fresh share sale of Rs 275 crore and an offer-for-sale (OFS) of up to Rs 375 crore.

The issue was overall subscribed 36.20 times, fetching more than 14.22 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 36.72 times. The allocation for non-institutional investors (NIIs) was booked 38.24 times. The portions for retail investors and employees were subscribed 32.55 times and 8.13 times, respectively.

The grey market premium (GMP) of M&B Engineering has seen a sharp correction following mild bidding and volatile market sentiments. Last heard, the company was commanding a premium of Rs 45-50 per share in the unofficial market, suggesting a muted listing of up to 12-13 per cent to the investors. The GMP stood around Rs 55-60, when the issue had opened for bidding.

Incorporated in 1981, M&B Engineering is engaged in the business of pre-engineered buildings and self-supported roofing solutions. They manufacture and install self-supported steel roofing solutions in India. It offers design-led manufacturing solutions, providing design, engineering, manufacturing, and testing to ensure reliable, safe, and high-performance structures.

Equirus Capital and DAM Capital Advisors are the book-running lead managers of the M&B Engineering IPO, while MUFG Intime (Link Intime) is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Wednesday, August 6.

Investors, who had bid for the issue of M&B Engineering, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select M&B Engineering Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.