Monarch Surveyors IPO: Price, Date, GMP, And Overview

Monarch Surveyors IPO- Complete Overview

Monarch Surveyors IPO under the SME IPO category is a book build issue of Rs. 93.75 Cr by Monarch Surveyors & Engineering Consultants Ltd. The company was established in 1992 and is a civil engineering consultancy firm.

The offered services include conducting topographical surveys and project management, designing and engineering, geotechnical investigations, land acquisition, GIS mapping, and feasibility studies, among others.

For the railway, road, port, as well as oil and gas sectors, the company has numerous successfully completed projects.

The company offers infrastructure project consultancy in surveying, design, supervision, land procurement, and geospatial mapping for roads, highways, railways, and metros, ensuring all projects are completed on time, within budget, and to the expected quality.

Services:

• Surveying and Mapping.

• Geo-Technical, Traffic, and other Engineering Investigations.

• Conceptualising, Design and Engineering.

• GIS-based land planning and land acquisition services.

• Management of bid processes and documentation preparation for Detailed Project Reports.

Monarch Surveyors IPO Overview

The Monarch Surveyors IPO date is on 22 July 2025, and its initial public offering will end on 24 July 2025. 

The Rs. 93.75 Crore new SME IPO comprises a wholly fresh issue of 37.50 lac shares.

The Monarch Surveyors IPO listing date (expected) might be on Tuesday, Jul 29, 2025, and listing at the BSE and SME.

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Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	148.06	102.12	64.51
Total Revenue	155.66	141.27	72.72
PAT	34.83	30.01	8.59
Net Worth	108.80	73.97	43.96
Reserves & Surplus	98.40	73.88	43.88
Borrowings	14.29	12.96	8.37

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	2390.96	3,452.67	516.83
Net Cash Flow Investing Activities	(2869.71)	(2,944.57)	(1149.83)
Net Cash Flow Financing Activities	(37.06)	360.42	506.97

 

 

Revenue Bifurcation

Service-wise Revenue Bifurcation

(Rs. in lac)

Geography-wise Revenue Bifurcation

(Rs. in lac)

State-wise Revenue Bifurcation

(Rs. in lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Financing the capital investment needed to buy machinery.

• Funding the working capital needs of the business.

• General corporate purposes.

 

Click to check the IPO application status.

 

Listed Peers of Monarch Surveyors & Engineering Consultants Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Dhruv Consultancy Services Limited	10	4.14	15.90
Rudrabhishek Enterprises Limited	10	7.69	23.53

 

 Evaluation

The Monarch Surveyors IPO price is Rs. 237 to Rs. 250 for each Share.

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 33.47 from the last year, the resulting P/E ratio is 7.46x.

Considering the weighted EPS of Rs. 27.72 for the last three years, the P/E ratio is 9.01x

Explore the Swastika Castal IPO.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 19.72x.

Particulars	P/E Ratio (x)
Highest	23.53
Lowest	15.90
Average	19.72

In simple words, the P/E ratio of this IPO is 7.46x, compared with the industry’s average P/E of 19.72x, indicating an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

IPO's Strengths

• Skilled promoter and management team.

• Full spectrum of services.

• Extensive range of clients.

• Optimal use of resources.
  
  

IPO’s Weaknesses

• Negative changes in government regulations, delays in project approvals might affect the company’s performance.

• The existing order book of the company is starkly concentrated, with a handful of major clients. This concentration risk is fundamental in increasing revenue volatility for Monarch should any of the major clients decide to cease engagement or scale back significantly.

• There is a high amount of working capital needed within this line of business. Cash flow mismatches may strain daily operational capabilities due to delays in receiving payments from clients, particularly government clients.

Monarch Surveyors IPO GMP

Monarch Surveyors IPO GMP is Rs. 35 as of 17 Jul 2025 at the time of writing this information, and subject to real-time changes. Hence, Monarch Surveyors IPO listing price (estimated) might be Rs. 285 (upper price + current GMP).

IPO Timetable (Tentative)

The Monarch IPO date of opening is from Jul 22 to Jul 24, 2025, allotment on Jul 25, refund initiation on Jul 28, and listing on Jul 29, 2025.

Events	Date
IPO Opening Date	Jul 22, 2025
IPO Closing Date	Jul 24, 2025
IPO Allotment Date	Jul 25, 2025
Refund Initiation	Jul 28, 2025
IPO Listing Date	Jul 29, 2025

 

 

Monarch Surveyors & Engineering Consultants IPO Details 

The Monarch Surveyors & Engineering Consultants IPO with a Face Value of Rs. 10 per share offers a total issue size of 37,50,000 Shares (Rs. 93.75 Cr) with a market maker portion of 2,07,000 Shares (Rs. 5 Cr).

IPO Opening & Closing Date	22 Jul, 2025 to 24 Jul, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 237 to Rs. 250 per Share.
Lot Size	600 Shares
Issue Size	37,50,000 Shares (Rs. 93.75 Cr)
Offer for Sale	-
Fresh Issue	37,50,000 Shares (Rs. 93.75 Cr)
Listing at	BSE, SME
Issue Type	Book Build Issue
Registrar	Bigshare Services Pvt Ltd.

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (1200 Shares) for Rs. 3,00,000 and in multiples thereof, while for HNI investors, the minimum Lot is 3 (1800 Shares) for Rs. 4,50,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

IPO Reservation (% of Net Issue)

Market Maker’s Portion	5.52%
Retail’s Portion	33.09%
Non-Institutional Portion	14.21%
Institutional’s Portion	47.18%

 

Promoters And Management of Monarch Surveyors & Engineering Consultants Ltd.

• Mr. Dattatraya Mohaniraj Karpe

• Mr. Sanjay Bhalchandra Vidwans

• Mr. Sunil Shrikrishna Bhalerao

• Mr. Bhartesh Rajkumar Shah.
  
  

Pre-Issue Promoter Shareholding	98.42%
Post-Issue Promoter Shareholding	72.35%

 

IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd.

 

Dividend Policy

The company has not paid a dividend in the last three fiscal years.

 

Conclusion

The Monarch Surveyors IPO presents a good opportunity for investors wanting to enter India’s expanding infrastructure consulting industry. Their fair valuation in combination with solid financials and a comprehensive portfolio of services gives them prominence in the SME segment. Reliance on government contracts, along with high requirements for working capital, is are significant risk.

 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.