Monarch Surveyors IPO Subscription Status 2025: Live Updates, GMP, Allotment Details
The Monarch Surveyors IPO, an SME IPO from Pune-based Monarch Surveyors & Engineering Consultants Limited, has garnered significant investor interest, achieving a subscription of 30.4 times by 12 PM on July 23, 2025. Opening on July 22, 2025, with a price band of ₹237 to ₹250 per share, this ₹93.75 crore fresh issue offers investors a chance to invest in a leading civil engineering consultancy firm. This article provides a comprehensive overview of the Monarch Surveyors IPO, including live subscription status, grey market premium (GMP), allotment details, financial performance, and expert review to guide investors.
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Monarch Surveyors IPO Details
The Monarch Surveyors IPO is a book-built issue comprising a fresh issue of 37.50 lakh equity shares with a face value of ₹10 each, with no offer for sale (OFS). Below are the key details based on the Red Herring Prospectus (RHP) and recent updates:
| Particulars | Details |
|---|---|
| IPO Opening Date | July 22, 2025 |
| IPO Closing Date | July 24, 2025 |
| Allotment Date | July 25, 2025 |
| Listing Date | July 29, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹237 to ₹250 per share |
| Lot Size | 1,200 shares |
| Issue Size | ₹93.75 crores (37.50 lakh shares) |
| Fresh Issue | ₹93.75 crores (37.50 lakh shares) |
| Offer for Sale | None |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Book Running Lead Manager | Beeline Capital Advisors Private Limited |
| Registrar | Bigshare Services Private Limited |
| Market Maker | Spread X Securities Private Limited |
The IPO allocates 47.18% to Qualified Institutional Buyers (QIBs), 14.21% to High Net-Worth Individuals (HNIs), 33.09% to Retail Individual Investors (RIIs), and 28.30% to anchor investors (₹26.54 crores raised on July 21, 2025). The minimum investment for retail investors is ₹3,00,000 (1,200 shares at ₹250), and for HNIs, it is ₹4,50,000 (1,800 shares).
Monarch Surveyors IPO Subscription Status
The Monarch Surveyors IPO subscription status is updated live during the subscription period from July 22 to July 24, 2025. As of 12 PM on July 23, 2025, the IPO was subscribed 30.4 times, with bids for 81.7 million shares against 2.68 million shares offered. Investors can track real-time data on the BSE or the registrar’s portal (Bigshare Services).
| Category | Subscription (Times) |
|---|---|
| QIB | 2.23x (as of July 23, 2025, 12 PM) |
| NII (HNI) | 27.6x (as of July 23, 2025, 12 PM) |
| Retail | 48.1x (as of July 23, 2025, 12 PM) |
| Total | 30.4x (as of July 23, 2025, 12 PM) |
Note: Subscription data is sourced from BSE and updated hourly during the subscription period (July 22–24, 2025).
Monarch Surveyors IPO Allotment Status
The allotment for the Monarch Surveyors IPO is expected to be finalized on July 25, 2025. Investors can check their allotment status on the registrar’s website (Bigshare Services) or the BSE website using their application number, PAN, or DP Client ID. Shares will be credited to demat accounts by July 28, 2025, and refunds will be processed for non-allotted applications.
Steps to Check Allotment Status:
- Visit the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html).
- Select “Monarch Surveyors IPO” from the dropdown menu.
- Enter your Application Number, PAN, or DP Client ID.
- Click “Search” to view your allotment status.
Note: Allotment status will be available after finalization on July 25, 2025.
Monarch Surveyors IPO Grey Market Premium (GMP) Today
The Grey Market Premium (GMP) indicates the premium at which IPO shares trade in the unofficial market before listing. As of July 23, 2025, the GMP for the Monarch Surveyors IPO is ₹170 per share, suggesting an estimated listing price of ₹420 (68% premium over the upper price band of ₹250). The GMP has risen from ₹135 on July 22, 2025, reflecting strong investor sentiment.
| Date | GMP (₹) | Estimated Listing Price (₹) |
|---|---|---|
| July 23, 2025 | 170 | 420 (68%) |
| July 22, 2025 | 135 | 385 (54%) |
| July 21, 2025 | 135 | 385 (54%) |
| July 20, 2025 | Not Available | Not Available |
Disclaimer: GMP is unofficial and volatile. Base investment decisions on company fundamentals, not just GMP.
Monarch Surveyors IPO Kostak Rates Today
The Kostak rate is the premium an investor earns by selling their IPO application in the grey market before allotment. As of July 23, 2025, the Kostak rate for the Monarch Surveyors IPO is not available, as specific data is not consistently reported. Investors should check with grey market dealers for updates.
| Date | Kostak Rate (₹) |
|---|---|
| July 23, 2025 | Not Available |
Monarch Surveyors IPO Subject to Sauda Rates
The Subject to Sauda rate is the amount agreed for an IPO application, payable only if allotted. As of July 23, 2025, the Subject to Sauda rate for the Monarch Surveyors IPO is ₹61,600 per application, reflecting strong grey market demand.
| Date | Subject to Sauda (₹) |
|---|---|
| July 23, 2025 | 61,600 |
Note: Kostak and Subject to Sauda rates are unofficial and may fluctuate as grey market activity continues.
About Monarch Surveyors & Engineering Consultants Limited
Founded in 1992 and incorporated in 1999, Monarch Surveyors & Engineering Consultants Limited, based in Pune, Maharashtra, is a leading civil engineering consultancy firm. Operating from its head office in Pune with multiple site offices across India, the company provides end-to-end services for infrastructure projects, including topographic surveys, project management consultancy, design and engineering, geotechnical investigations, land acquisition, GIS mapping, and feasibility studies. It serves sectors like railways, roads, ports, oil & gas, metros, water management, and town planning. Recognized among India’s Top 10 Engineering Consultants by Industry Outlook in 2022, the company has a diverse client base, including government bodies, state municipalities, and corporates. As of March 31, 2025, it reported revenue of ₹155.66 crores and a profit after tax of ₹34.83 crores. The promoters are Dattatraya Mohaniraj Karpe, Sanjay Bhalchandra Vidwans, Sunil Shrikrishna Bhalerao, and Bhartesh Rajkumar Shah, holding significant pre-issue equity.
Monarch Surveyors IPO Objectives
The net proceeds from the fresh issue will be used for:
- Capital expenditure for purchasing machinery (₹32 crores).
- Funding working capital requirements (₹30 crores).
- General corporate purposes.
Monarch Surveyors Financials
Monarch Surveyors has shown consistent financial growth, driven by demand in the infrastructure consultancy sector. Below is a summary of its financial performance:
| Particulars | FY25 (₹ Crores) | FY24 (₹ Crores) | Growth (%) |
|---|---|---|---|
| Revenue | 155.66 | 141.27 | 10.18% |
| EBITDA | Not Available | Not Available | Not Available |
| PAT | 34.83 | 30.01 | 16.06% |
The company’s 10.18% revenue growth, 16.06% PAT growth, 32.01% ROE, 39.59% ROCE, and 22.60% PAT margin in FY25 reflect strong financial health.
Monarch Surveyors IPO Strengths
- Robust Financials: 10.18% revenue growth and 16.06% PAT growth from FY24 to FY25, with a 22.60% PAT margin and 32.01% ROE.
- High Subscription: Subscribed 30.4x by July 23, 2025, with retail at 48.1x, indicating strong investor confidence.
- Strong GMP: GMP of ₹170 (68% premium) as of July 23, 2025, suggests potential listing gains of up to ₹420 per share.
- Diverse Services: Comprehensive consultancy for roads, railways, metros, and oil & gas, with a Top 10 ranking by Industry Outlook in 2022.
- Anchor Support: Raised ₹26.54 crores from anchor investors on July 21, 2025, boosting credibility.
Monarch Surveyors IPO Risks
- SME IPO Volatility: Smaller issue size (₹93.75 crores) and SME status may lead to price fluctuations post-listing.
- High Lot Size: Minimum investment of ₹3,00,000 may deter smaller retail investors.
- Competitive Sector: Faces competition from larger consultancy firms in the infrastructure space.
- Dependence on Government Contracts: Reliance on government and municipal clients may expose the company to policy changes.
- Oversubscription Risk: High subscription (30.4x) may lead to a lottery-based allotment, reducing allocation chances.
Monarch Surveyors IPO Review
The Monarch Surveyors IPO has generated significant buzz, with a subscription of 30.4 times by July 23, 2025, driven by retail (48.1x) and HNI (27.6x) demand. X posts highlight strong investor enthusiasm, with GMP at ₹170 (68% premium), indicating a potential listing price of ₹420 against the upper price band of ₹250. The company’s 10.18% revenue growth, 16.06% PAT growth, and 22.60% PAT margin in FY25, combined with a 32.01% ROE and 39.59% ROCE, reflect solid fundamentals. Operating in the growing infrastructure consultancy sector, Monarch Surveyors serves high-demand areas like railways, roads, and metros, with a Top 10 ranking by Industry Outlook in 2022. The ₹93.75 crore fresh issue will fund machinery (₹32 crores) and working capital (₹30 crores), supporting expansion. However, risks include SME IPO volatility, a high minimum investment (₹3,00,000 for 1,200 shares), and competition in the consultancy sector. The high subscription may result in a lottery-based allotment, reducing allocation chances. The infrastructure sector’s growth, driven by India’s ₹10 lakh crore infrastructure budget for 2025–26, supports long-term potential. Short-term investors may benefit from the 68% GMP, but long-term investors should focus on the company’s fundamentals and sector tailwinds.
Recommendation: Suitable for short- and long-term investors with moderate risk tolerance, but consult a financial advisor due to SME IPO volatility and oversubscription risks.
How to Apply for Monarch Surveyors IPO
Investors can apply through ASBA (Applications Supported by Blocked Amount) or UPI via their bank or brokers like Zerodha, Upstox, or Angel One.
Steps to Apply:
- Log in to your demat account or broker’s platform (e.g., Zerodha Console).
- Navigate to the IPO section and select “Monarch Surveyors IPO.”
- Enter the number of lots (minimum 1,200 shares) and price (₹237–₹250 per share).
- Provide your UPI ID or bank details for payment.
- Submit the application and approve the UPI mandate.
Check your broker’s IPO application process for detailed instructions.
Monarch Surveyors IPO FAQs
When does the Monarch Surveyors IPO open and close?
The IPO opens on July 22, 2025, and closes on July 24, 2025.
What is the price band of the Monarch Surveyors IPO?
The price band is ₹237 to ₹250 per share.
What is the minimum investment for retail investors?
The minimum investment is ₹3,00,000 for 1,200 shares at ₹250 per share.
How can I check the Monarch Surveyors IPO allotment status?
Visit the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html), select “Monarch Surveyors IPO,” and enter your PAN, application number, or DP Client ID.
What is the GMP of the Monarch Surveyors IPO today?
As of July 23, 2025, the GMP is ₹170 per share, with an estimated listing price of ₹420 (68% premium).
Where will the Monarch Surveyors IPO be listed?
The IPO will be listed on the BSE SME on July 29, 2025.
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