Monarch Surveyors IPO GMP

July 29, 2025 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

The Monarch Surveyors IPO is an upcoming SME public issue set to open for subscription from July 22 to July 24, 2025, aiming to raise ₹93.75 crore through a fresh issue of shares in the price range of ₹237 to ₹250 per share. Based in Pune, Monarch Surveyors & Engineering Consultants is known for delivering comprehensive infrastructure consultancy services, including topographic surveys, engineering designs, project management, and geotechnical analysis. The Monarch Surveyors IPO will be listed on the BSE SME platform, giving investors exposure to a rapidly growing player in India’s infrastructure consultancy market.

₹210

Latest IPO GMP

Last updated on 28 Jul 2025 11.12

₹250

IPO Offer Price

*cut off price

₹421.25

Listing Price

Listing Date 29/07/2025

Expert Opinions

The Monarch Surveyors IPO is drawing positive market sentiment, underpinned by the company’s consistent financial growth and position as a leading infrastructure consultancy firm. Its core strengths include a comprehensive suite of engineering and geospatial services, a diversified client base across both government and private sectors, and operational expertise spanning major infrastructure segments such as roads, railways, and urban development. However, the company faces risks from heavy revenue concentration in Maharashtra, exposure to project-based business volatility, dependence on select large contracts, and the inherent challenges of a competitive, tender-driven industry.

In FY 2025, the Monarch Surveyors IPO reflects healthy financials with a Return on Equity (ROE) of 32.01% ROCE of 39.59% and a Net Asset Value (NAV) of ₹104.56 demonstrating robust capital efficiency. From a long-term perspective, Monarch’s combination of strong order book, sector tailwinds, and a proven management team supports sustainable growth, although prudent risk management and broader regional diversification will be essential for enduring investor returns.

Investor Considerations

Investors considering the Monarch Surveyors IPO should note the company’s steady fundamentals, highlighted by a 10% rise in revenue to ₹154.14 crore and a 16% increase in profit after tax to ₹34.83 crore in FY 2025. The infrastructure consultancy sector has a positive outlook, driven by strong government spending on roads, rail, and urban development, which supports long-term demand for engineering services.

For FY 2025, the Monarch Surveyors IPO presents a Price to Book Value of 2.39, a robust PAT margin of 22.60%, and a conservative Debt/Equity ratio of 0.13, indicating both attractive profitability and low leverage. Growth prospects include a diversified project pipeline and planned investments in machinery and working capital from IPO proceeds. However, risks stem from high revenue concentration in Maharashtra, reliance on a few large contracts, and the tender-driven, competitive market dynamic. The IPO holds stronger potential for long-term investors seeking stable returns from infrastructure consulting, rather than short-term speculative gains.