Monarch Surveyors priced its IPO at ₹82-84 per share, aiming to raise ₹94 crore for expansion.
The IPO was subscribed 24.4 times in two days, driven mainly by retail investors.
The company provides engineering consultancy and surveying services tied to India
’s infrastructure growth.
Grey market premium (GMP) surged, signaling strong listing expectations.
Analysts see this as growing investor trust in SMEs.
Funds will support expansion and larger projects nationwide.
With a solid client base, Monarch stands to benefit from gov
ernment infrastructure plans.
This success may encourage more SMEs to go public soon.