Monarch Surveyors IPO Day 2 update: Subscription rises 30x, GMP at 68%

Monarch Surveyors IPO Day 2 subscription status: The SME issue received bids for 81.7 million shares against 2.68 million shares on offer

Monarch Surveyors IPO Day 2 subscription status: Engineering consultancy firm Monarch Surveyors' initial public offering (IPO) has received a solid response from investors so far. The BSE SME data shows that the public issue received bids for 81.7 million shares against 2.68 million shares on offer, resulting in an oversubscription of around 30.4 times by 12 PM on Wednesday, July 23.

 

Among the individual categories, retail investors led the demand by subscribing to the portion reserved for them by 48.1 times. This was followed by non-institutional investors (NIIs), who bid for 27.6 times of the reserved quota, and the qualified institutional buyers (QIBs) portion was subscribed 2.23 times. 

 

Monarch Surveyors IPO grey market premium (GMP)

According to sources tracking unofficial markets, the unlisted shares of Monarch Surveyors were trading at 420, commanding a grey market premium of ₹170 or 68 per cent against the upper end of the price band of ₹237 to ₹250. 

Monarch Surveyors IPO details

The New Delhi-based company aims to raise ₹93.75 crore through its maiden public issue. The SME IPO comprises a fresh issue of 3.75 million equity shares, with no offer for sale (OFS) component. 

Monarch Surveyors IPO key dates

Monarch Surveyors IPO will close for subscription on Thursday, July 24, 2025. The basis of the allotment of shares is expected to be finalised on Friday, July 25, 2025. Shares of Monarch Surveyors are scheduled to be listed on the BSE SME platform tentatively on Tuesday, July 29, 2025.

Monarch Surveyors IPO price band, lot size

The company has set the price band in the range of ₹237 to ₹250 per equity share. Retail investors can bid for a minimum of two lots consisting of 600 shares each, with an investment amount of ₹3,00,000. The minimum investment amount required for high net-worth individuals (HNIs) is ₹4,50,000 for three lots.  

Monarch Surveyors IPO registrar, lead manager

Bigshare Services is the issue registrar. Beeline Capital Advisors is the book-running lead manager for the issue.

Monarch Surveyors IPO objective

According to the RHP, the company plans to use ₹32 crore from the net issue proceeds for purchasing machinery and ₹30 crore for working capital requirements of the company. The remaining funds will be used for general corporate purposes.

About Monarch Surveyors

Monarch Surveyors and Engineering Consultants provides comprehensive consultancy services under Concept to Commissioning of infrastructure projects, which includes survey, design and technical supervision for roads, railways, metros, town planning, geospatial, mapping, land acquisition, water, transmission lines, pipelines and other civil engineering sectors. The company has a diverse workforce specialising in Detailed Engineering, Project Management, Construction Supervision, Facilities Design, Land Surveying, Land Acquisition Services, Geospatial mapping, Geo-technical Investigation and Special Inspections.