M&B Engineering Files for ₹653 Crore IPO to Fund Growth and Repay Debt

M&B Engineering Ltd, a Gujarat-based pre-engineered buildings and self-supported roofing solutions provider, has filed draft papers with SEBI for a ₹653 crore IPO. The offering comprises a fresh issue of shares worth ₹325 crore and an offer for sale of ₹328 crore by existing promoters. Proceeds from the fresh issue will be utilized to fund capital expenditure (₹63.9 crore for equipment and machinery), repay borrowings (₹60 crore), and meet working capital requirements (₹110 crore). The company, which claims a 75% market share in self-supported steel roofing, plans to strengthen its position with this fundraise. Notable promoters selling shares include Girishbhai Manibhai Patel (₹132.6 crore) and Chirag Hasmukhbhai Patel (₹110 crore). Equirus Capital and DAM Capital Advisors are the book-running lead managers for the IPO.

 

Source: Draft Red Herring Prospectus filed with SEBI