M&B Engineering, a pre-engineered buildings (PEBs) and self-supported roofing provider, has refiled its draft red herring prospectus with the SEBI on February 17. The Gujarat-based company had filed draft papers with SEBI for Rs 653-crore IPO, but the capital markets regulator had returned the IPO paper in December 2024. The IPO is expected to be a combination of fresh issuance of equity shares worth Rs 275 crore, and an offer-for-sale of Rs 375 crore worth of shares by Patel family, the promoters. It plans to spend fresh issue proceeds to purchase equipment and machinery, building works, solar rooftop grid and transport vehicles at manufacturing facilities. It will invest fresh issue money in software upgradation, repayment of debt, and general corporate purposes. The book running lead managers handling the public issue are Equirus Capital, and DAM Capital Advisors. The company has executed over 9,400 projects as of December 2024, according to its website.
