Monolithisch India IPO opens for subscription: Check price band, lot size, objectives and key dates

Monolithisch India IPO: The initial public offering of specialised ramming mass manufacturer Monolithisch India Ltd opened for subscription on Thursday, June 12. The issue, with a price band of ₹135 to ₹143 per share, will end on June 16.

The ₹82.02 crore initial share sale is a fresh issuance of 57,36,000 equity shares. There is no offer for sale component.

The capital raised will be utilised for:

• Funding capital expenditure of ₹16.58 crore for establishing a manufacturing plant
• Investing ₹27.90 crore in the unit Metalurgica India Pvt Ltd
• Funds to the tune of ₹20 crore will be used to meet working capital requirements
• Funding general corporate initiatives

The minimum application lot is 1,000 shares, costing ₹1,43,000 (cut-off price). The company has reserved 27,23,000 shares for Qualified Institutional Buyers (QIB), 8,18,000 shares for non-institutional investors (NII), 19,07,000 shares for retail investors and the remaining 2,88,000 shares for market marker.

Monolithisch India IPO: Key dates

Monolithisch India IPO allotment is expected to be finalised on June 17. The listing on the NSE SME platform will take place on June 19.

Hem Securities Limited is the issue's book-running lead manager, while Kfin Technologies is the registrar.

Founded in 2018, Monolithisch India makes specialised ramming mass used in induction furnaces by iron and steel producers. The company runs a 132,000 million tonnes per annum (MTPA) manufacturing facility in West Bengal's Purulia.

It produces five grades of ramming mass from alpha-quartzite and stone boulders and has developed different types of grades with distinct specifications and additives for furnaces of different sizes.

Its customer base rose almost 53% from 41 customers in the financial year 2022-23 (FY23) to 63 customers in FY25.

The company's revenue from operations stood at ₹97.49 crore in FY25, up 41.41% from ₹68.94 crore in the previous fiscal year.

The net profit surged 70.27% year-on-year (YoY) to ₹14.49 crore in FY25.