Monarch Surveyors IPO: The IPO of Pune -based company Monarch Surveyors received tremendous response from investors on 23 July on the second day of bidding. This IPO has been subscribed to about 62 times. The company has received bids of 16.72 crore shares against the 26.88 lakh shares offered in the issue. Retail investors have subscribed to 92.6 times the reserve quota by bidding the most bids in it. Non-institutional investors (NII) have bid 59.44 times and qualified institutional buyers (QIB) 11.89 times.
The last day of bidding for this is till 24 July at 5 pm. The allotment of shares is to be finalized on 25 July. Shares of Monarch Surveyors will be listed on BSE SME on 29 July. Please tell that Bine Capital Advisors Monarch Surveyors IPO Book is working as the lead manager for.
₹ 26.54 crore was collected from anchor book
The Monarch Surveyors aims to raise ₹ 93.75 crore through a public issue of 37.5 lakh shares, including a completely fresh issue. The price band of this IPO has been fixed at ₹ 237- ₹ 250 per share. A day before the IPO opened, on July 21, Monarch Surveyors raised ₹ 26.54 crore via anchor book. 19 institutional investors including Morgan Stanley, Arth AIF Growth Fund, Innovative Vision Fund, Vikas India, Nave Capital, St. Capital Fund, Sunrise India Growth Fund and Nexus Equity Growth Fund participated in the anchor book.
What does Monarch Surveyors do?
Monarch Surveyors Roads, Railways, Metro, Town Planning, Mapping, Land Acquisition, Water, Transmission Line, Pipeline and other civil engineering are survey, design and technical supervision. The company will use ₹ 32 crore from the funds received from the IPO, for the purchase of machinery, ₹ 30 crore will be used for working capital for capital and the remaining money will be used for general corporate purposes.
What is the latest GMP of Monarch Surveyors?
The supervisors of the IPO market told Moneycontrol that Monarch Surveyors are trading at a premium of more than 65 percent in the IPO shares in the gray market, which is 10% higher than the previous day’s 55 percent. That is, the latest gray market premium of Monarch Surveyors is indicating its bumper listing.