Monolithisch India IPO: Price, Overview, And GMP

Monolithisch India IPO- Complete Overview

Monolithisch India IPO under the SME IPO category is a bookbuild issue of Rs. 82.02 Cr from Monolithisch India Limited. It was founded in 2018 and provides specialized "ramming mass", a heat insulation refractory applied in induction furnaces of the iron and steel industries.

SGB-777, SLM-999, BG-77, Quartzite Grain SLM-980, and SLM 980 are among its products. The ISO-certified company specializes in producing specialized ramming mass for thermal insulation in the capacity of customers' refractory consumables in iron-powered induction furnaces, steel, and foundry plants.

The company's main customers constitute the iron and steel plants in Eastern India, spread over West Bengal, Odisha, and Jharkhand. The manufacturing plant of the company is located at Purulia in the state of West Bengal.

The company’s customer base more than doubled, from 43 in 2023 to 61 in 2025.

Monolithisch India IPO Overview

The Monolithisch India IPO will be available from Jun 12, 2025, to Jun 16, 2025. 

The Rs. 82.02 Cr new SME IPO comprises a wholly fresh issue of 57.36 lac Shares. 

The upcoming IPO date of allotment is on Jun 17. The Monolithisch India IPO price is Rs. 135 to Rs. 143 for each Share. 

The Monolithisch India IPO listing date is Jun 19, 2025 (expected) and listing at the NSE and SME.

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Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	55.90	27.64	16.20
Total Revenue	97.49	68.94	41.90
PAT	14.49	8.51	4.54
Net Worth	35.20	18.52	10.01
Reserves & Surplus	19.20	16.72	8.21
Borrowings	7.43	2.70	3.67

 

 

Cash Flows

(Amount in thousands)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	400.60	413.16	78.55
Net Cash Flow Investing Activities	(1,057.93)	(280.85)	(262.48)
Net Cash Flow Financing Activities	665.47	(112.52)	169.64

 

Revenue Bifurcation

Geography-wise Revenue Bifurcation

 

Product-wise Revenue Bifurcation

 

The Objective of the Issue

• Financing capital expenditures for the establishment of the company's manufacturing facility through land acquisition, factory shed construction, civil work, and the installation of extra equipment and machinery.

• Investing in Metalurgica India Private Limited, its subsidiary, to finance its capital expenditures for the acquisition of land, construction of a factory shed, civil work, and the installation of additional equipment and machinery there.

• To fulfill the needs for working capital.

• General corporate purposes.
  
  

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Peers of Monolithisch India Ltd

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Raghav Productivity Enhancers Ltd.	10	8.05	88.64

 

Evaluation

Monolithisch IPO price is Rs. 135 to Rs. 143 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2025 with an EPS of Rs. 9.11 from the last year, the resulting P/E ratio is 15.69x.

Considering the weighted EPS of Rs. 6.83 for the last three years, the P/E ratio is 20.93x.

Jainik Power IPO will be available from 10 June 2025.

 

 

IPO's Strengths

• Well-equipped manufacturing plant near the source of raw material.

• Strong customer relationships with customers and location advantage.

• Professional Promoters and Management.

• History of good balance sheet performance.

 

IPO’s Weaknesses

• The company relies heavily on a handful of suppliers for its raw materials. More than 29% of purchases (FY 2024-25) are made up of the top three suppliers. Disruptions to this supply chain, whether because of commercial disagreements, quality concerns, or delivery failures, will have implications for production, revenue, and cash flow.

• The top 10 customers account for a large portion (59.43% as of March 31, 2025) of the Company’s total revenue. The company would be adversely affected if any of its significant customers were lost or if demand from them were significantly reduced.

• The company has a subsidiary named Mineral India Global, Private Limited, which is in the same line of business (manufacture and sale of specialised ramming mass). Although there is a non-compete clause such violations or failures to adhere may have serious implications on the operations and financials of the company.

 

Monolithisch India IPO GMP

Monolithisch India IPO GMP is Rs. 36 as of 11 Jun 2025, while writing this information. The Monolithisch India IPO listing price is Rs. 179 (estimated).

IPO Timetable (Tentative)

The IPO date of application is starting from Jun 12 to Jun 16, 2025, allotment on Jun 17, refund initiation on Jun 18, and listing on Jun 19, 2025.

Events	Date
IPO Opening Date	Jun 12, 2025
IPO Closing Date	Jun 16, 2025
IPO Allotment Date	Jun 17, 2025
Refund Initiation	Jun 18, 2025
IPO Listing Date	Jun 19, 2025

 

Monolithisch India IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 57,36,000 Shares (Rs. 82.02 Cr).

IPO Opening & Closing date	12 Jun, 2025 to 16 Jun, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 135 to Rs. 143 per Share.
Lot Size	1000 Shares
Issue Size	57,36,000 Shares (Rs. 82.02 Cr).
Offer for Sale	-
Fresh Issue	57,36,000 Shares (Rs. 82.02 Cr).
Listing at	NSE, SME
Issue Type	Bookbuilding Issue IPO
Registrar	Kfin Technologies Limited

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1000 Shares) amounting to Rs. 1,43,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2000 Shares) amounting to Rs. 2,86,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Market Maker’s Portion	5.02%
Retail’s Portion	33.25%
Non-Institutional’s Portion	14.26%

 

Promoters And Management of Monolithisch India Ltd.

• Prabhat Tekriwal

• Sharmila Tekriwal

• Harsh Tekriwal

• Kritish Tekriwal

• Kargil Transport Private Limited.

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	73.61%

 

IPO Lead Managers

• Hem Securities Limited.

 

 

Dividend Policy

The company has not declared a dividend since its incorporation.

 

Conclusion

Monolithisch India IPO is from the company that is engaged in refractory material manufacturing in India, with good financial growth along with a decent standing in East India. Its customer and supplier concentration is high, which is a major risk. Before applying, investors should consider the company’s fundamentals and valuations.

 

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.