MCON Rasayan India IPO GMP, Price, Dates & Allotment Details 2023
The MCON Rasayan India IPO opens on March 6 and closes on March 10, 2023. According to the DRHP filed in SEBI, the company is planning to issue 17.10 lakhs shares through this public issue.
Incorporated in 2016. With a portfolio of more than 80 products that includes a variety of building materials and construction chemicals in both powder and liquid forms, the company is in the business of producing, marketing, and distributing contemporary building materials and construction chemicals. Its powder products, such as ready-mixed plaster, tile adhesives, block adhesives, wall putty, micro-concrete and polymer mortar, engineering non-shrinking grouts, and floor hardeners, are widely used in the building construction segment. Polyurethane (PU)-based liquid membranes, bonding agents, paints, anti-corrosive coatings, concrete admixtures, and curing compounds are among the products in the company’s liquid portfolio.
Company supplies our products to more than 100 distributors and dealers, which in turn supply them to more than 1300 retailers based in the states of Maharashtra, Gujarat, and Rajasthan, who serve various developers, contractors, and architects in these western regional markets. The business operates two production facilities in Gujarat’s Valsad and Navsari.
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
- Funding the working capital requirements of the company
- General Corporate Purposes
Financial Highlights (Restated)
The financial performance of Company for the period June 30, 2022, and Fiscals 2022, 2021 and 2020, is as follows:
| Particulars | For the period ended on June 30, 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Revenue from operations | 654.21 | 1921.65 | 897.77 | 896.62 |
| EBITDA | 52.34 | 128.04 | 91.38 | 65.41 |
| EBITDA margin (%) | 8% | 6.66% | 10.18% | 7.30% |
| PAT | 23.47 | 44.4 | 18.68 | 3.61 |
| PAT margins (%) | 3.59% | 2.31% | 2.08% | 0.40% |
| Net Debt | 752.33 | 740.85 | 346.58 | 321.61 |
| Total Equity | 244.76 | 221.29 | 178.4 | 110.72 |
| ROE (%) | 9.59% | 20.06% | 10.47% | 3.26% |
| ROCE (%) | 4.50% | 9.93% | 12.12% | 7.90% |
| EPS in ₹ (Basic & Diluted) | 1.56 | 2.96 | 1.25 | 0.32 |
- EBITDA = Profit before tax + depreciation & amortization expense + finance cost.
- EBITDA Margin = EBITDA/ revenue from operations.
- Net debt = non-current borrowing + current borrowing – Cash and Cash Equivalent, Bank Balance, and Investment in Mutual Funds.
- ROE = Net profit after tax /Total equity.
- ROCE = Earnings before interest and taxes (EBIT) / Capital employed*
- Net worth = Equity +Non-current borrowing + current Borrowing + Deferred Tax Liabilities – Intangible Assets
- EPS = Net Profit after tax, as restated, attributable to equity shareholders divided by weighted average no. of equity shares outstanding during the year/ period.
MCON Rasayan India IPO – Details
As per the DRHP filed with SEBI, a total of 17.10 lakh shares will be offered as part of the fresh issue on the NSE Emerge segment. The face value of the shares is ₹ 10. While GYR Capital Advisors Limited will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a Fixed Price Issue IPO, so there will be a price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 40 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 shares |
| Issue Size | 1,710,000 shares of ₹ 10 (Aggregating up to ₹ 6.84 Crore) |
| Fresh Issue | 1,710,000 shares of ₹ 10 (Aggregating up to ₹ 6.84 Crore) |
| Market Maker Portion | 90,000 shares |
| NII (HNI) Shares Offered | 50% of the net Issue |
| Retail Shares Offered | 50% of the net Issue |
| Listing At | NSE SME |
| Company Promoters | Mahesh Ravji Bhanushali |
GMP – MCON Rasayan India IPO
MCON Rasayan India’ IPO GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilize after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates – MCON Rasayan India IPO
The issue opens for subscription on March 6, 2023, and closes for subscription on March 10, 2023 (both days inclusive). The basis of allotment will be finalized on March 15th, 2023, and the refunds will be initiated on March 16th, 2023. In addition, the demat credits are expected to happen on March 17, 2023, and the stock will list on March 20, 2023, on the NSE SME segment.
| Opening Date | March 6, 2023 |
| Closing Date | March 10, 2023 |
| Basis of Allotment | March 15, 2023 |
| Initiation of Refunds | March 16, 2023 |
| Credit of shares to Demat A/c | March 17, 2023 |
| Listing Date | March 20, 2023 |
Lot Size – MCON Rasayan India IPO
The lot size of the MCON Rasayan India IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 120,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 120,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 120,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 240,000 |
Promoters Holdings – MCON Rasayan India IPO
| Pre-issue Shares Holdings | 91.45% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | MCON Rasayan India Limited 101/A, 1st floor, Maxheal House, Plot-169 CTS-104 Bangur Nagar, Goregaon West, Near Ayyappa Temple, Mumbai- 400090 Phone: +91 86559 88698 Email: [email protected] Website: http://www.mconrasayan.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: [email protected] Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | GYR Capital Advisors Limited |
FAQ’s
When will MCON Rasayan India Ltd. IPO allotment be available?
The finalisation of the basis of allotment for the MCON Rasayan India Ltd. IPO will be done on March 14, 2023, and the allotted shares will be credited to your demat account by March 16, 2023. Check the MCON Rasayan India Ltd. IPO allotment status.
When will MCON Rasayan India Ltd. IPO list on exchanges?
The MCON Rasayan India Ltd. IPO shares listing date is March 17, 2023.
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