August 8, 2025
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What is the latest news of Mahendra Realtors IPO?
The company will enter the market on 12 August 2025.
About Mahendra Realtors
Incorporated in 2011, Mahendra Realtors Limited is engaged in real estate development with a focus on residential and commercial projects in urban and semi-urban markets. The company undertakes construction, redevelopment, and allied real estate services through both owned projects and joint development models.
Its portfolio includes mid-segment residential units, affordable housing projects, and select commercial properties, catering to the rising demand in Tier-II and Tier-III cities. The company emphasizes timely delivery, compliance with regulatory norms, and cost-efficient project execution.
Competitive Strengths
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Strong presence in growing real estate markets beyond metros.
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Balanced mix of residential and commercial projects.
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Focus on affordable and mid-segment housing, aligned with market demand.
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Experienced management team with industry expertise.
As of March 31, 2025, the company had a workforce of skilled engineers, architects, and project managers, enabling it to execute projects with quality and efficiency.
Mahendra Realtors IPO Details
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Sector: Real Estate |
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| IPO opens on | 12 August 2025 |
| IPO closes on | 14 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 58,17,600 Shares / Rs 49.45 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 2,91,200 Shares |
| Net offer to Public | 55,26,400 Shares Rs. 46.97 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 75-85 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | NSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| QIB | Not more than 50.00% of the Net Issue |
| Retail | Not less than 35.00% of the Net Issue |
| NII | Not less than 15.00% of the Net Issue |
| Application | Lots | Shares | Amount Rs. |
| Retail (Min) | 2 | 3,200 | 2,72,000 |
| Retail (Max) | 2 | 3,200 | 2,72,000 |
| S-HNI (Min) | 3 | 4,800 | 4,08,000 |
| S-HNI (Max) | 7 | 11,200 | 9,52,000 |
| B-HNI (Min) | 8 | 12,800 | 10,88,000 |
Who are the Promoters of Mahendra Realtors IPO?
The promoters hold 100.00% of the pre-IPO capital
What are the Objects of Mahendra Realtors IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Working Capital requirement Rs. 30.40 Cr.
+General Corporate purposes
Mahendra Realtors IPO Timetable
| IPO opens on | 12 August 2025 |
| IPO Closes on | 14 August 2025 |
| IPO Allotment on | 18 August 2025 |
| Refund Initiation | 19 August 2025 |
| Credit of Shares | 19 August 2025 |
| Listing on | 20 August 2025 |
| Registered Office of the Company Mahendra Realtors & Infrastructure Ltd. 603, Quantum Tower, Ram Baug, Opp Dal Mill Off S.V. Road, Malad (West) Mumbai, Maharashtra, 400064 |
| Lead Managers of this IPO Fasttrack Finsec Pvt ltd |
| Who is the Registrar to the IPO? Mufg Intime India Pvt. ltd |
Mahendra Realtors Financials Snapshot
| Period Ended | 30-Sep-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 105.7 | 93.01 | 98.21 | 94.19 |
| Total Income | 46.91 | 105.11 | 66.07 | 95.27 |
| Profit After Tax | 5.68 | 11.58 | 4.04 | 7.38 |
| Net Worth | 61.7 | 56.02 | 44.44 | 40.4 |
| Reserves and Surplus | 44.32 | 38.65 | 43.2 | 39.16 |
| Amount in Rs. Crore | ||||
Performance Indicators
| KPI | Values |
| ROE | 23.05% |
| ROCE | 29.87% |
| Debt/Equity | 0.09 |
| RoNW | 23.05% |
| PAT Margin | 11.41% |
| Price to Book Value | 2.64 |
| EPS | 5.14 |
| PE Ratio | 16.55 |
How Mahendra Realtors IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Mahendra Realtors and Infrastructure Limited | 23.43 | |
| A B Infrabuild Limited | 53.54 | 0.17 |
| Maruti Infrastructure Ltd. | 66.29 | 0.07 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chanakya’s IPO Review – Mahendra Realtors by Paresh Gordhandas, CA & Research Analyst
📌 Mahendra Realtors IPO Review with Financials
Mahendra Realtors Limited, established in 2011, is a real estate developer focusing on affordable and mid-segment housing as well as select commercial projects, largely in Tier-II and Tier-III cities. The company is set to raise Rs. 49.45 crore via NSE SME listing (fresh issue Rs. 40.17 crore + OFS Rs. 9.28 crore).
📊 Financial Performance
| Period Ended | Assets (Rs. Cr) | Total Income (Rs. Cr) | PAT (Rs. Cr) | Net Worth (Rs. Cr) | Reserves (Rs. Cr) |
|---|---|---|---|---|---|
| 30-Sep-24 | 105.70 | 46.91 | 5.68 | 61.70 | 44.32 |
| 31-Mar-24 | 93.01 | 105.11 | 11.58 | 56.02 | 38.65 |
| 31-Mar-23 | 98.21 | 66.07 | 4.04 | 44.44 | 43.20 |
| 31-Mar-22 | 94.19 | 95.27 | 7.38 | 40.40 | 39.16 |
Observations:
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Revenues have been volatile, with FY24 income (Rs. 105.11 crore) significantly higher than FY23, but the first half of FY25 (Rs. 46.91 crore) indicates a moderation.
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Profitability improving: PAT rose to Rs. 11.58 crore in FY24, and Rs. 5.68 crore in H1 FY25 shows consistency.
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Net Worth strengthened from Rs. 40.40 crore in FY22 to Rs. 61.70 crore by Sep 2024, showing capital build-up.
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Asset base stable, indicating moderate growth without over-leveraging.
✅ Strengths
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Focus on affordable & mid-segment housing — a high-demand segment.
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Strengthened net worth and consistent profitability.
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Presence in Tier-II and Tier-III cities with potential for growth.
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Moderately valued compared to larger peers in realty space.
⚠️ Concerns
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Revenue volatility across years raises sustainability questions.
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Dependent on real estate cycles and regulatory policies.
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SME listing may limit liquidity for short-term investors.
🏁 Chanakya Verdict
Mahendra Realtors shows steady growth in net worth and profitability, with a focus on high-demand affordable housing. While revenues remain volatile, the balance sheet looks healthy, and profits are consistent.
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For Long-Term Investors: A reasonable bet on real estate demand in non-metro cities.
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For Listing Gains: Outlook cautious due to SME liquidity and sector cyclicality.
Quicklinks
Mahendra Realtors IPO GMP
Mahendra Realtors IPO review
Mahendra Realtors Limited develops residential and commercial real estate projects, with a focus on affordable and mid-segment housing, mainly in Tier-II and Tier-III cities.
The IPO size is Rs. 49.45 crore, comprising a fresh issue of Rs. 40.17 crore and an offer for sale of Rs. 9.28 crore.
The IPO opens on August 12, 2025, and closes on August 14, 2025. Allotment is expected on August 18, with tentative listing on NSE SME scheduled for August 20, 2025.
The price band is fixed at Rs. 75 to Rs. 85 per share. The lot size is 1,600 shares, requiring a minimum retail investment of Rs. 2,40,000.
The company has a strong presence in growing real estate markets and a focus on affordable housing. However, investors must weigh sectoral risks and market liquidity before investing.
