Monolithisch India IPO Day 1 update: Subscribed 24% in first hour, GMP 25%

Monolithisch India subscription status Day 1: The unlisted shares of Monolithisch were trading at ₹179, commanding a grey market premium (GMP) of ₹36 or 25 per cent

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Monolithisch India subscription status Day 1: The initial public offering (IPO) of Monolithisch India opened for subscription today, June 12, 2025. The SME offering is an entirely fresh issue of 5.44 million equity shares. The company aims to raise ₹82.02 crore at the upper end of the price band. 

 

The public issue of Monolithisch India is receiving a decent response from investors. As per NSE data, the issue received bids for 9,88,000 shares against 41,03,000 shares on offer, resulting in a subscription of 24 per cent as of 11 AM on Thursday. 

Monolithisch India IPO grey market premium (GMP)

On Thursday, the unlisted shares of Monolithisch were trading at ₹179, commanding a grey market premium (GMP) of ₹36 or 25 per cent compared to the upper price band of ₹143, according to sources tracking unofficial market activities.

Monolithisch India IPO details

The three-day bidding window will close on Monday, June 16, 2025. The basis of the allotment of shares is likely to be finalised on Tuesday, June 17, 2025. Shares of Monolithisch India will be listed on the NSE SME platform tentatively on Thursday, June 19, 2025.

 

The price band for the Monolithisch India IPO is set in the range of ₹135 to ₹143 per equity share. Retail investors would require a minimum investment amount of ₹1,43,000 to bid for one lot comprising 1,000 shares (taking into consideration the upper price band). The minimum investment required for high net-worth individuals (HNIs) is 2 lots (2,000 shares) amounting to ₹2,86,000.

 

Kfin Technologies is the registrar of the issue. Hem Securities is the sole book-running lead manager for the issue. 

 

According to the red herring prospectus (RHP), the company plans to utilise ₹16.57 crore from the net issue proceeds to set up a manufacturing facility. In addition, it will invest ₹27.89 crore in its subsidiary Metalurgica India, and ₹20 crore to meet working capital requirements. The remaining funds will be used for general corporate purposes.  

About Monolithisch India

Monolithisch India is engaged in manufacturing and supplying specialised ramming mass used as a heat insulation/lining matter by its customers as a refractory consumable for Induction furnaces installed in iron/steel and foundry plants. The company also does trading of its products on an occasional basis to meet the excess and urgent requirements of the customers.  The major customers of the company are iron and steel producers located in Eastern parts of India, majorly in West Bengal, Jharkhand & Odisha. The manufacturing facility of the company is located in Purulia, West Bengal.