Monomark Engineering India IPO

About Monomark Engineering (India) IPO

The Monomark Engineering (India) IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of a fresh issue component. The fresh issue will include 2,70,00,000 shares (aggregating up to ₹[TBA] crores). The total number of shares is 2,70,00,000 and the aggregate amount is yet to be finalised.

Monomark Engineering (India) IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

Monomark Engineering (India) ("Monomark" or "MEIL") is engaged in the business of providing Industrial Operations and Maintenance (O&M) services, metal fabrication solutions and industrial project execution services to a diversified base of industrial clients across multiple sectors like metals, cement, ports, engineering/OEMs to a wide range of industrial and infrastructure clients.

Objectives of Monomark Engineering (India) IPO

• Funding the incremental working capital requirements of the company.
  
• General corporate purposes.
  

Industry Outlook

The Indian Industrial O&M services market is witnessing steady evolution as industries increasingly prioritise operational efficiency, equipment reliability, and compliance with regulatory standards. Beyond traditional maintenance, companies are adopting integrated lifecycle solutions that combine predictive maintenance, energy optimisation, and reliability engineering. In sectors such as power, pharmaceuticals, and petrochemicals, regulatory authorities mandate AMC compliance for critical equipment to ensure operational safety, prevent environmental hazards, and maintain quality standards. Within the larger industrial EPC landscape, metal fabrication plays a pivotal role by ensuring that all critical mechanical and structural elements are manufactured to specification and integrated seamlessly into the project. In India, mechanical construction and project execution services within EPC have gained momentum due to rapid industrialization, infrastructure growth, and large-scale investments in sectors like power, oil & gas, steel, and renewable energy. This segment plays a vital role in ensuring that projects are delivered on time, within budget, and according to technical specifications.

About Monomark Engineering (India)

Monomark Engineering (India) ("Monomark" or "MEIL") is engaged in the business of providing Industrial Operations and Maintenance (“O&M”) services, Metal Fabrication solutions and Industrial Project Execution services to a diversified base of industrial clients across multiple sectors like metals, cement, ports, engineering/OEMs to a wide range of industrial and infrastructure clients. Through their integrated service offerings, they support their clients in maintaining operational efficiency, reducing downtime, ensuring reliability of industrial assets and executing engineering and infrastructure projects in accordance with their technical and operational requirements.

Their business operations broadly comprise the following segments:
I. Industrial Operations and Maintenance (“O&M”) services
II. Metal Fabrication solutions
III. Industrial Project Execution services.

Through these services, they cater to various lifecycle requirements of industrial facilities, ranging from plant operations and maintenance to fabrication and installation of engineering equipment and infrastructure.

Strengths of Monomark Engineering (India)

• Experienced promoters and technically skilled workforce.
  
• Integrated engineering service capabilities across O&M, project execution and metal fabrication.
  
• Diversified presence across multiple industrial sectors.
  
• In-house fabrication facility.
  
• Established domestic network with expanding global reach.
  
• Established operational track record and compliance with quality and safety standards.
  
• Strong order book with repeat orders and long-standing relationships with clientele.
  

Risks of Monomark Engineering (India)

• They are dependent on their single largest customer and their top 10 customers for their revenues.
  
• They depend on the metal and cement industry for a significant portion of their revenues.
  
• They depend on their Industrial Operations and Maintenance services segment for a significant portion of their revenues.
  
• They could be subject to unforeseen costs, liabilities or performance obligations in relation to their O&M services.
  
• They are significantly dependent on the skilled, semi-skilled and project-specific personnel for their business operations.
  
• Their business is exposed to significantly high employee attrition rates.
  
• They depend on a limited number of suppliers for the supply of their raw materials.
  
• Their cost of production is exposed to fluctuations in the prices of raw material, particularly steel.
  

*Financial information of the company is derived from the Restated Financial Information for the Fiscal Year ended March 31, 2025. **Listed Peers closing market price as on March 24, 2026, on National Stock Exchange of India Limited has been considered for calculation of P/E. Source: All the financial information for listed industry peers mentioned above is on a Consolidated basis from the audited financial statements of a respective company for the year ended March 31, 2025, submitted to stock exchange i.e., National Stock Exchange of India Limited and from the respective company website.

1. Considering the nature and size of the business of the company, the peers are not strictly comparable. However, the above companies have been included for broad comparison.

2. Basic EPS and Diluted EPS refer to the Basic EPS and Diluted EPS sourced from the Consolidated financial statements of the respective company for the year ended March 31, 2025.

3. P/E Ratio has been computed based on the closing market price of equity shares on Stock exchange (National Stock Exchange of India Limited) as on March 24, 2026, divided by the Diluted EPS provided above in the table.

4. For listed peers, RONW is computed as profit after tax for the year ended March 31, 2025, divided by Shareholder’s equity.

5. Shareholder’s Equity has been computed as sum of paid-up share capital and reserve & surplus.

6. Net Asset Value per share (“NAV”) (in ₹) is computed as the closing net worth divided by the weighted average number of equity shares outstanding as on March 31, 2025.

Anchor Investor Bidding Date: TBA

Registrar: Bigshare Services Private Limited
Book Running Lead Manager: Holani Consultants Private Limited

Monomark Engineering (India) Business Model

The company earns its revenue through the business of providing Industrial Operations and Maintenance (O&M) services, Metal Fabrication solutions and Industrial Project Execution.

Monomark Engineering (India) Growth Trajectory

(Consolidated) Monomark Engineering (India)’s Total Income for FY25 was ₹477.287 crores, whereas in FY24 it was ₹392.144 crores.

The Profit After Tax for FY25 was ₹18.213 crores, whereas in FY24 it was ₹14.826 crores.

Their EBITDA for FY25 was ₹39.264 crores, whereas in FY24 it was ₹31.885 crores.

Monomark Engineering (India) Market Position

As of February 28, 2026, they had a total of 28 ongoing projects across their business verticals, comprising 20 O&M projects and 8 Industrial Execution projects. Over the past five years, they have successfully executed 20 projects for their clients, including 13 O&M projects and 7 Industrial Execution projects, demonstrating their consistent project delivery capabilities and operational expertise across diverse sectors.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹477.287 crores, ₹18.213 crores, and ₹39.264 crores, respectively.

How to apply for Monomark Engineering (India) IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
  
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
  
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
  
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.