Monarch Surveyors shares made a healthy stock market debut on July 29 on the SME platform of the BSE. The Pune-based company closed its initial public offering on July 24, with the issue receiving a strong response across investor categories. The IPO was subscribed 231.43 times, with applications received for 62.22 crore shares against the offer size of 26.88 lakh shares.
Shares of Monarch Surveyors and Engineering Consultants were listed at Rs 421.25 per share on the BSE, a premium of 68.5 percent. The total market capitalization of the company post listing of shares stood at Rs 596.32 crore.
The listing of the shares of the company on the stock exchanges on July 29 was below than the expectations in the grey market, which had price in about 80 percent listing gains.
Bhavik Joshi, Business Head at INVasset PMS, said the listing comes at a time when India’s infrastructure consultancy sector is drawing increasing attention from investors. The company provides end-to-end services across land surveying, geospatial mapping, and technical supervision, he added.
He further said that with India’s ongoing infrastructure push, companies with integrated capabilities and a pan-India presence stand to benefit. Monarch’s ability to service projects across their lifecycle could help the firm tap into this growth opportunity.
However, he added that beyond the initial listing gains, the company's long-term market performance will depend on its ability to maintain operational consistency, deliver on expectations, and uphold strong governance standards.
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