MCON Rasayan India Limited IPO Detail
Incorporated in 2016, MCON Rasayan India Limited is in the business of manufacturing, marketing, and selling of modern building materials and construction chemicals. The company has a suite of more than 80 products including a range of construction materials and construction chemicals in both powder and liquid forms.
Powder products of the company are Ready mix plaster, Tile adhesives, Block adhesives, Wall putty, Micro concrete & polymer mortar, Engineering non-shrink grouts and Floor hardeners.
Liquid Form products include:Poly-urethane (PU) based liquid membrane, Bonding agents, Paints, Anti-corrosive coatings, Concrete admixtures and Curing compounds.
The products of MCON Rasayan India Limited are marketed under the brand label "MCON".
The company has two manufacturing plants in Valsad and Navsari, Gujarat. The plant at GIDC Sarigam, Valsad, Gujarat mainly engages in the manufacturing of admixtures, wall putty, tile adhesives, paints, concrete repair systems, and waterproofing systems and has an installed capacity of 2,500 MTPA. And the plant in Navsari, Gujarat manufactures readymix mortars, block adhesives, and tile adhesives and has an installed capacity of 12,500 MTPA.
The top 10 products of MCON are as under MCON Magic Coat WP, MCON Magic Coat PU White, MCON Mortar/NSA Grey, MCON Micro Mortar, MCON Polymer Mortar EP, MCON Block Fix /Block Mortar, MCON Readyplaster, MCON Ultra Gyp Bond, MCON Wall Putty, and MCON Hard/Top Floor Metallic.
Company Promoters
Mahesh Ravji Bhanushali is the Promoter of the Company.IPO Details
| IPO Opening Date | Mar 06, 2023 |
| IPO Closing Date | Mar 10, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹40 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹6.84 Cr |
| Fresh Issue | 1,710,000 shares of ₹10 (aggregating up to ₹6.84 Cr) |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 16.23x | 32.71x | 24.47x | |
| Day 2 | - | - | 33.03x | 115.87x | 74.45x | |
| Day 3 | - | - | 70.39x | 231.67x | 151.03x | |
| Day 4 | - | - | 307.09x | 453.41x | 384.64x |
IPO Tentative Timetable
The MCON Rasayan India Limited IPO open date is Mar 06, 2023, and the close date is Mar 10, 2023. The issue may list on Mar 20, 2023.
| IPO Open Date | Mar 06, 2023 |
| IPO Close Date | Mar 10, 2023 |
| Basis of Allotment Date | Mar 15, 2023 |
| Initiation of Refunds | Mar 16, 2023 |
| Credit of Shares to Demat Account | Mar 17, 2023 |
| IPO Listing Date | Mar 20, 2023 |
IPO Lot Size
The MCON Rasayan India Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹120000 |
| Maximum | 1 | 3000 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 91.45% |
| Post Issue Share Holding | 66.64% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 831.81 | 899.78 | 18.68 |
| 31-Mar-22 | 1,446.31 | 1,922.36 | 44.40 |
| 30-Sep-22 | 1,777.53 | 1,304.67 | 85.64 |
Objects of the Issue:
The Company proposes to utilize the funds towards the following objects:
- Funding the working capital requirements of the company
- General Corporate Purposes
MCON Rasayan India Limited IPO Registrar:
Link Intime India Private Ltd
MCON Rasayan India Limited IPO Lead Manager(s):
GYR Capital Advisors Limited
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
Mumbai
