The initial public offer (IPO) of Mason Infratech received bids for 28,24,000 shares as against 47,60,000 shares on offer, as per NSE data as of 17:00 hours on Monday (24 June 2024). The issue was subscribed 0.59 times.

The issue opened for bidding on Monday (24 June 2024) and it will close on Wednesday (26 June 2024). The price band of the IPO is fixed at Rs 62 to 64 per equity share. The minimum order quantity is 2,000 equity shares. The equity shares will list on NSE’s SME platform.

IPO comprises fresh issue of 47,60,000 equity shares. The promoter and promoter group shareholding will dilute to 71.60% from 98.20% Pre-IPO.

The company intends to utilize the net proceeds to meet the working capital requirements and for general corporate purposes.

About 2,40,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 45,20,000 equity shares. The issue and the net issue will constitute 27.09% and 25.72% respectively of the post offer paid up equity share capital of the company.

Ahead of the IPO, Mason Infratech on Friday, 21 June 2024, raised Rs 8.65 crore from anchor investors. The board allotted 13.52 lakh shares at Rs 64 per share to 3 anchor investor.

Mason Infratech is real estate construction company providing construction services for residential as well as commercial buildings of new and redevelopment projects. It specializes in executing civil contracts. The firm also works on lifestyle projects and high-value standalone buildings. It’s comprehensive suite of offerings covers the entire project lifecycle, including planning, designing, procurement, construction, and post-construction services. As of 31 December 2023, organization employed 161 skilled staff members and engaged various contract laborers for project support.

The company recorded revenue from operations of Rs 56.72 crore and net profit of Rs 5.09 crore for the period as on 31 December 2023.