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MCON Rasayan India IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Funding the working capital requirements of the company
  2. 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:

ParticularsFor the period ended on June 30, 2022FY 2021-22FY 2020-21FY 2019-20
Revenue from operations654.211921.65897.77896.62
EBITDA52.34128.0491.3865.41
EBITDA margin (%)8%6.66%10.18%7.30%
PAT23.4744.418.683.61
PAT margins (%)3.59%2.31%2.08%0.40%
Net Debt752.33740.85346.58321.61
Total Equity244.76221.29178.4110.72
ROE (%)9.59%20.06%10.47%3.26%
ROCE (%)4.50%9.93%12.12%7.90%
EPS in ₹ (Basic & Diluted)1.562.961.250.32
(All figures are in ₹ lakhs, unless stated otherwise)

  • 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 TypeFixed Price Issue IPO
IPO Price₹ 40 per share
Face Value₹ 10 per share
Market Lot3,000 shares
Issue Size1,710,000 shares of ₹ 10  (Aggregating up to ₹ 6.84 Crore)
Fresh Issue1,710,000 shares of ₹ 10  (Aggregating up to ₹ 6.84 Crore)
Market Maker Portion90,000 shares
NII (HNI) Shares Offered50% of the net Issue
Retail Shares Offered50% of the net Issue
Listing AtNSE SME
Company PromotersMahesh 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 DateMarch 6, 2023
Closing DateMarch 10, 2023
Basis of AllotmentMarch 15, 2023
Initiation of RefundsMarch 16, 2023
Credit of shares to Demat A/cMarch 17, 2023
Listing DateMarch 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)13,000₹ 120,000
Retail (Maximum)13,000₹ 120,000
HNI (Minimum)26,000₹ 240,000

Promoters Holdings – MCON Rasayan India IPO

Pre-issue Shares Holdings91.45%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationMCON 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 RegistrarLink 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

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.

The MCON Rasayan India Ltd. IPO shares listing date is March 17, 2023.

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