1 July 2024 Punjab Khabarnama : Shares of Mason Infratech made a stellar debut on NSE SME, listing at Rs 88 per share on July 1, up 37.5 percent from its issue price set at Rs 64 apiece on the upper end. The Rs 30.4 crore SME IPO of Mason Infratech was subscribed by 32.89 times (x), led by non-institutional investors (NIIs) and retail.
The IPO opened for bidding on June 24 and closed on June 26. The price band for the Mason Infratech IPO was set between Rs 62 and Rs 64 per share. Investors had to apply for a minimum of 2,000 shares, requiring a minimum investment of Rs 1,28,000 for retail investors.
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Mason Infra is a real estate construction company specialising in residential and commercial buildings in the Mumbai Metropolitan Area. They offer a range of construction services, including new and redevelopment projects.
In April 2023, the company solidified its status as a premier Engineering, Procurement, and Construction (EPC) company in India, specialising in civil contracting work.
The company will use the money raised via the public issue to meet working capital requirements and fulfil general corporate purposes.
The book-running lead manager for Mason Infratech Limited IPO was Expert Global Consultants Private and the registrar for the NSE SME issue is Kfin Technologies.
As of fiscal year 2023, the company witnessed a revenue growth of Rs 63.8 crore as compared to Rs 3.49 crore in the year-ago period, while net income rose to Rs 3.3 crore in FY23 from Rs 1.52 crore in FY22. The company’s order book stood at Rs 191.82 crore as of March 31, 2024.