Montecarlo Limited IPO

Montecarlo Limited is an infrastructure construction and development firm with operations spanning highways, railways, buildings and factories, mining, energy infrastructure and infrastructure water and irrigation sectors. Montecarlo Limited IPO will hit the market in 2021.

Montecarlo had notified Sebi with a draft prospectus in May 2018, seeking permission for fundraise through an IPO. They had received the market regulator’s approval to float the public issue in August of that year. Although, The IPO was not released by the firm.

Operation

As part of their infrastructure construction and expansion operations, through their subsidiaries, they are undertaking 5 highway projects on HAM basis & 1 mining project on MDO basis.

Over the past 20 years, they have established a track record for timely completion of the majority of their infrastructure construction & expansion projects. As per their execution experience, they are able to develop & establish capabilities in the verticals in which they operate.

Journey

Their firm ‘Montecarlo Constructions Private Limited’ started as a private limited firm under the Companies Act, 1956 in Ahmedabad, Gujarat on March 20, 1995.

Subsequently, Their firm name was changed to Montecarlo Construction Limited, which was converted into a public limited firm and a new certificate of incorporation, dated 21 April 2006, was issued as a result of the name change.

In addition, to reflect their firm’s activities and areas of business expansion, their firm name was further changed to Montecarlo Limited and on 21 March 2012 a new certificate of incorporation was awarded.

Vision

To be a leading infrastructure organization acclaimed by all stakeholders with continuous development through process, individuals and innovation.

Mission

• To outperform the market average in terms of profitable order bookings, customer focus, and supplier involvement.
• To complete the project within time and cost in adhering to quality and process standards.
• To be the best place to work, to drive passion for professional excellence.
• Ensure high EHS expectations by raising attention and respect for all stakeholders.

Promoters

• Kanubhai M. Patel Trust
• Kanubhai Mafatlal Patel
• Brijesh Kanubhai Patel
• Mrunal Kanubhai Patel

Financials Trends

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

IPO Details

IPO Tentative Date

Montecarlo Limited IPO open date is 2021, and the close date is 2021. The issue may list in 2021.

Basis of Allotment

Promoter Holding