Monarch IPO Receives Strong Response, Subscribed 11 Times On Day 1; Check GMP And Other Details Here

Monarch Surveyors IPO Listing: Monarch Surveyors and Engineering Consultants Ltd, a prominent infrastructure consultancy firm, launched its Rs 93.75 crore SME Initial Public Offering (IPO) on Monday, July 22, 2025. The company provides a wide range of services across roads, railways, metro projects, ports, oil and gas pipelines, geospatial mapping and land acquisition. With the IPO being entirely a fresh issue of 37.5 lakh equity shares, Monarch aims to raise funds for capital expenditure, working capital, and other general corporate purposes.

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Monarch IPO Day 1 Performance

On the very first day of bidding, the IPO witnessed overwhelming demand, particularly from retail and high-net-worth investors. The issue was reportedly subscribed more than 11 times within just a few hours of opening, according to various market trackers. Non-institutional investor participation remained strong, while the Qualified Institutional Buyer (QIB) category was more subdued in the early hours.

The minimum bid lot size for retail investors is 1,200 shares, amounting to an investment of Rs 2,84,400 at the upper end of the price band, which ranges between Rs 237 and Rs 250 per share.

Monarch IPO GMP

A significant buzz around the IPO is also being reflected in the grey market. The Grey Market Premium (GMP) for Monarch Surveyors has jumped to Rs 165 per share, up from Rs 135 just a few days ago. This rise in GMP indicates strong listing expectations, with investors anticipating a potential listing price of around Rs 415, nearly 66 per cent higher than the issue price.

The company’s financials also contribute to its appeal. Monarch reported a revenue of Rs 155.66 crore in FY2025, with a profit after tax of Rs 34.83 crore. Based in Mumbai, with operations spanning several Indian cities, Monarch is positioned as a key player in infrastructure project consultancy and survey management for government and private clients alike.

With robust demand and strong grey market signals, Monarch Surveyors appears poised for a healthy debut on the Bombay Stock Exchange’s SME platform. The IPO closes on Wednesday, July 24, after which allotment and listing will follow in quick succession.

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Key Dates

IPO Opens: July 22, 2025

IPO Closes: July 24, 2025

Allotment Finalisation: July 25, 2025

Refunds & Share Transfer: Expected by July 28, 2025

Listing on BSE SME: Tentatively July 29, 2025