Monolithisch India promoter Prabhat Tekriwal has seen his pre-IPO stake surge by 3,390% to Rs 100 crore. The SME company, a remixed high-quality ramming mass manufacturer, listed on NSE Emerge with a significant premium. Experts advise caution due to high valuations and a broader corrective phase, suggesting a wait-and-watch approach.

Monolithisch's promoter Prabhat Tekriwal mints 3,390% returns as SME stock delivers 243% over IPO price

Synopsis

Monolithisch India promoter Prabhat Tekriwal has seen his pre-IPO stake surge by 3,390% to Rs 100 crore. The SME company, a remixed high-quality ramming mass manufacturer, listed on NSE Emerge with a significant premium. Experts advise caution due to high valuations and a broader corrective phase, suggesting a wait-and-watch approach.

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Monolithisch India promoter Prabhat Tekriwal is sitting on massive gains, with his investment turning into a multibagger. His pre-IPO stake of 12.99%, comprising over 20.79 lakh shares, has surged 3,390% in value and is now worth around Rs 100 crore, compared to an initial investment of Rs 2.86 crore in acquiring these shares.

While Tekriwal's shares have gone up to over 21.50 lakh shares, his holding in the company has come down to 9.89% as per the NSE shareholding data.

Monolithisch India, an SME company that produces remixed high-quality ramming mass manufacturer in India, was founded in 2018 as a part of the Mineral group of companies. The company claims to be a supplier to more than 80% of integrated steel plants, contributing to the majority of secondary steel manufacturing.

Ramming mass is primarily used in induction furnaces installed in secondary steel manufacturing companies.

Multibagger move

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According to the company's Red Herring Prospectus (RHP) filed with the market regulator, Tekriwal's average cost of acquisition per share stood at Rs 13.75.

Listed on the NSE Emerge platform on June 19, 2025, the stock is currently trading around Rs 490, implying gains of 243% over the IPO price band of Rs 135-Rs 143.

The stock made its market debut at Rs 231.55, recording an impressive listing premium of 62%.

The stock hit its all-time high of Rs 607.40 (closing basis) on November 21. It has corrected 21% from the peak price.

The gains and losses are notional.

Buy or book profits?

Dr. Ravi Singh, Chief Research Officer from Master Capital Services highlights a smart recovery shown by the stock after dipping to levels below 400. "Monolithisch India has bounced back quite well from its recent lows, climbing up toward the 480 zone after dipping below 400 earlier. The recent move looks encouraging, with momentum improving and RSI picking up, which shows that buyers are stepping in again, at least in the short term. That said, the bigger picture hasn’t completely turned bullish yet. The stock is still within a broader corrective phase and hasn’t convincingly crossed its previous lower highs," Dr. Singh said.

On the fundamentals side, earnings growth remains decent, but valuations are on the higher side, and the recent stake trimming by a key investor adds a layer of caution, he added.

In his view, the 480–500 zone now becomes important, which he said is a "strong resistance area". A clear breakout above this could change the trend, but until that happens, this rally looks more like a recovery within a correction rather than a fresh uptrend, the Master Capital Services analyst said. "It’s better to stay cautiously optimistic than aggressively bullish here," he warned.

(Disclaimer: This is an AI-generated article. Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

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