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Madhav Copper FPO is a book build issue of ₹25.50 crores. The issue is entirely a fresh issue of 0.25 crore shares of ₹25.50 crore.
Madhav Copper FPO bidding started from Jan 27, 2020 and ended on Jan 30, 2020. The allotment for Madhav Copper FPO was finalized on Feb 4, 2020. The shares got listed on NSE SME on Feb 6, 2020.
Madhav Copper FPO price band is set at ₹102.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,20,000 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,44,800.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Pantomath Stock Brokers Pvt.Ltd..
Refer to Madhav Copper FPO RHP for detailed Information.
| IPO Date | January 27, 2020 to January 30, 2020 |
| Listing Date | February 6, 2020 |
| Face Value | ₹5 per share |
| Issue Price Band | ₹100 to ₹102 per share |
| Issue Price Final | ₹102 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 24,99,600 shares (aggregating up to ₹25.50 Cr) |
| Reserved for Market Maker | 1,26,000 shares Pantomath Stock Brokers Pvt.Ltd. (aggregating up to ₹1.29 Cr) |
| Net Offered to Public | 23,73,600 shares (aggregating up to ₹24.21 Cr) |
| Issue Type | Bookbuilding FPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 2,46,43,200 shares |
| Share Holding Post Issue | 2,68,44,000 shares |
Madhav Copper FPO offers total 24,99,600 shares. Out of which 11,86,800 (47.48%) allocated to NII, 11,86,800 (47.48%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,26,000 (5.04%) |
| NII (HNI) Shares Offered | 11,86,800 (47.48%) |
| Retail Shares Offered | 11,86,800 (47.48%) |
| Total Shares Offered | 24,99,600 (100.00%) |
Madhav Copper FPO opens on January 27, 2020, and closes on January 30, 2020.
| IPO Open Date | Mon, Jan 27, 2020 |
| IPO Close Date | Thu, Jan 30, 2020 |
| Tentative Allotment | Tue, Feb 4, 2020 |
| Initiation of Refunds | Wed, Feb 5, 2020 |
| Credit of Shares to Demat | Thu, Feb 6, 2020 |
| Tentative Listing Date | Thu, Feb 6, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jan 30, 2020 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,22,400 |
| Retail (Max) | 1 | 1,200 | ₹1,22,400 |
| HNI (Min) | 2 | 2,400 | ₹2,44,800 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2012, Gujarat based Madhav Copper Ltd (MCL) is engaged in the manufacturing and supply of copper bus bars, copper rods, strips, anodes, sections, enamelled copper wire, and poly wrap submersible winding wire. The copper material produced by the company is used in mechanical and electrical fields for power distribution, generation, transmission and electronic industries.
The company also offers services to assist electrical winding designers in overcoming electrical equipment short-circuit problems and winding making. Madhav Copper Ltd follows the National and International standards such as IES, BS, JIS, NEMA, and ASTM. The manufacturing unit of MCL is situated at Bhavnagar, Gujarat.
The company was listed on NSE Emerge in 2017 to raise funds for working capital requirements and improve brand image. Currently, the company has an Indian Railway project to supply copper products of various sizes and specifications.
Key Strengths
1. Quality products
2. Manufacturing unit in Gujarat
3. Long term client relationship
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 30-Sept-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 4,910.30 | 4,550.17 | 2,363.78 | 2,271.51 | |
| Total Revenue | 9,434.48 | 21,305.04 | 16,910.63 | 7,162.87 | |
| Profit After Tax | 260.13 | 421.42 | 196.23 | 86.38 | |
The market capitalization of Madhav Copper FPO is ₹276.86 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 53 |
The Company Madhav Copper FPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Working Capital Requirements | 3.57 |
| 2 | General Corporate Purpose | 0.46 |
[Dilip Davda] The company rewarded investors of IPO well as it gave two free scrips and did a split of face value. However, the current market price at a P/E of around 81 and FPO pricing at a P/E of around 53 makes it an aggressively priced offer compared to peers as well as the industry average. As the coffers are empty, new investors will have to wait for long and thus similar gains are remote possibilities. There is no harm in giving this issue a miss. Read detail review...
| Listing Date | February 6, 2020 |
| BSE Script Code | |
| NSE Symbol | MCL |
| ISIN | INE813V01022 |
| Final Issue Price | ₹102 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹102.00 |
| Open | ₹102.00 |
| Low | ₹98.10 |
| High | ₹102.00 |
| Last Trade | ₹99.75 |
Madhav Copper Ltd.
Plot No. 2107/D, Office No. 203,
2nd Floor, D&I Excelus,
Waghawadi Road,
Bhavnagar, Gujarat, 364001
Phone: +91 278 2221034
Email: investors@madhavcopper.com
Website: http://www.madhavcopper.com
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Madhav Copper FPO is a SME FPO of 24,99,600 equity shares of the face value of ₹5 aggregating up to ₹25.50 Crores. The issue is priced at ₹102 per share. The minimum order quantity is 1200.
The FPO opens on January 27, 2020, and closes on January 30, 2020.
Bigshare Services Pvt.Ltd. is the registrar for the FPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Madhav Copper FPO using UPI as a payment gateway. Zerodha customers can apply in Madhav Copper FPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Madhav Copper FPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Madhav Copper FPO opens on January 27, 2020 and closes on January 30, 2020.
Madhav Copper FPO lot size is 1200, and the minimum amount required for application is ₹1,22,400.
You can apply in Madhav Copper FPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Madhav Copper FPO will be done on Tuesday, February 4, 2020, and the allotted shares will be credited to your demat account by Thursday, February 6, 2020. Check the Madhav Copper FPO allotment status.
The Madhav Copper FPO listing date is on Thursday, February 6, 2020.
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