Bookbuilding FPO | ₹25 Cr | Listed at NSE SME | Mon, Jan 27, 2020 - Thu, Jan 30, 2020
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 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,22,400 (1200 shares) (based on upper price). The minimum lot size for investment in 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.
FPO Open
Mon, Jan 27, 2020
FPO Close
Thu, Jan 30, 2020
Issue Price
₹102 per share
Market Cap (Pre-IPO)
₹276.86 Cr
| IPO Date | 27 to 30 Jan, 2020 |
| Listed on | Thu, Feb 6, 2020 |
| Face Value | ₹5 per share |
| Price Band | ₹100 to ₹102 |
| Issue Price | ₹102 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding FPO |
| Listing At | NSE SME |
| Total Issue Size | 24,99,600 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 1,26,000 shares Pantomath Stock Brokers Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 23,73,600 shares (agg. up to ₹24 Cr) |
| Net Offered to Public | 23,73,600 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 2,46,43,200 shares |
| Share Holding Post Issue | 2,68,44,000 shares |
| NSE Symbol | MCL |
| ISIN | INE813V01022 |
Madhav Copper FPO comprises a total issue size of 24,99,600 shares. The net offer to the public is 23,73,600 shares, after excluding 1,26,000 shares allotted on a firm basis. Of the Net offer 11,86,800 (50.00%) allocated to NII 11,86,800 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,86,800 | 50.00% | 47.48% |
| Retail Shares Offered | 11,86,800 | 50.00% | 47.48% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,26,000 | 5.04% | |
| Total Shares Offered | 24,99,600 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 3.57 |
| 2 | General Corporate Purpose | 0.46 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 53 | |
| Promoter Holding | 73.04% | 63.83% |
| Market Cap | ₹276.86 Cr. |
The Madhav Copper FPO is subscribed 1.74 times on January 30, 2020 6:00:00 PM (Day 4). The public issue subscribed 1.77 times in the retail category, [.] times in the QIB category, and 1.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.72 | 11,86,800 | 20,41,200 |
| Retail | 1.77 | 11,86,800 | 20,98,800 |
| Total | 1.74 | 23,73,600 | 41,40,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Bankers etc. | 0.40 |
| 2 | Regulatory fees | 0.03 |
| 3 | Marketing and Other Expenses | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹102.00 |
| Open | ₹102.00 |
| Low | ₹98.10 |
| High | ₹102.00 |
| Last Trade | ₹99.75 |
Lead Manager Reports
Madhav Copper FPO is a SME FPO of 24,99,600 equity shares of the face value of ₹5 aggregating up to ₹25 Crores. The issue is priced at ₹102 per share. The minimum order quantity is 1200.
The FPO opens on Mon, Jan 27, 2020, and closes on Thu, Jan 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 Mon, Jan 27, 2020 and closes on Thu, Jan 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 Thu, Feb 6, 2020. Check the Madhav Copper FPO allotment status.
The Madhav Copper FPO listing date is on Thu, Feb 6, 2020.
