The M&B Engineering IPO witnessed robust investor demand, receiving 12.12 crore bids against 97.98 lakh shares on offer, marking a subscription of 12 times on the final day of bidding, as per NSE data at 1:45 p.m. on Friday.

Retail investors showed heightened interest, with the Retail Individual Investors (RIIs) category subscribed 22.59 times, while the Non-Institutional Investors (NIIs) portion attracted a 23.48 times subscription. The Qualified Institutional Buyers (QIBs) also participated actively, subscribing 3.48 times their allotted quota.

Ahead of the main bidding, M&B Engineering raised ₹292 crore from anchor investors, reflecting institutional confidence in the offering. The IPO, with a price band of ₹366–₹385 per share, is set to close today, and all eyes are now on its listing performance.

In the grey market, the M&B Engineering IPO GMP (Grey Market Premium) is currently around ₹64, indicating a possible listing gain of 16.62% over the upper price band. This positive sentiment reflects optimism among traders and retail investors looking for strong debut-day performance.

M&B Engineering’s IPO success underscores the growing interest in quality mid-sized engineering firms, especially those with a robust order book and scalable business model. Analysts believe the company could benefit from ongoing infrastructure expansion and industrial capex cycles in India.