Monolithisch India IPO Day 2 update: Subscription rises 3.5x, GMP at 33%

Monolithisch India IPO subscription status Day 2: The issue has been booked over 3.45 times, as of 11:30 AM on Day 2

Monolithisch India IPO subscription status Day 1: The initial public offering (IPO) of ramming mass manufacturer Monolithisch India has received a decent response from investors as the issue has been booked over 3.45 times, as of 11:30 AM on Day 2 of subscription. According to data from the National Stock Exchange (NSE), the SME offering has received bids for 1,41,42,200 shares compared to 41,03,000 shares on offer. 

Monolithisch IPO grey market premium (GMP)

The unlisted shares of Monolithisch India were trading at a solid premium in the grey market. According to the sources tracking unofficial markets, Monolithisch India's unlisted shares were trading at ₹191, reflecting a premium of ₹48 or 33.5 per cent.

 

Monolithisch India IPO details

The public issue opened for subscription on Thursday, June 12, 2025, and will close on Monday, June 16, 2025. The IPO comprises a fresh issue of 5.73 million equity shares with no offer for sale (OFS) component. The company aims to raise ₹82.02 crore through this issue. 

 

According to the red herring prospectus (RHP), the basis of allotment of shares is expected to be finalised on Tuesday, June 17, 2025. Monolithisch India IPO will be listed on the NSE SME platform tentatively on Thursday, June 19, 2025. 

 

The company has set the price band at ₹135-143 per share and lot size at 1,000. A retail investor would need a minimum of ₹1,43,000 to bid for one lot of Monolithisch India shares at the upper price band. High net-worth individuals (HNIs) would need a minimum investment amount of ₹2,86,000 to subscribe for a minimum of two lots.

 

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

Monolithisch India IPO objective

According to RHP, the company aims to utilise the net issue proceeds to set up a manufacturing facility, invest in its subsidiary, Metalurgica India, and fund working capital requirements. The remaining funds will be used for general corporate purposes. 

About Monolithisch India

Incorporated in 2018, Monolithisch India is involved in the manufacturing of specialised ramming mass, a heat insulation refractory used in the iron and steel industry induction furnaces. Its major clients are iron and steel producers in the states of West Bengal, Jharkhand and Odisha. The company operates a manufacturing facility in Purulia, West Bengal.