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Madhusudan Masala IPO is a book build issue of ₹23.80 crores. The issue is entirely a fresh issue of 0.34 crore shares of ₹23.80 crore.
Madhusudan Masala IPO bidding started from Sep 18, 2023 and ended on Sep 21, 2023. The allotment for Madhusudan Masala IPO was finalized on Sep 26, 2023. The shares got listed on NSE SME on Sep 26, 2023.
Madhusudan Masala IPO price band is set at ₹70.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,32,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,80,000.
Hem Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Hem Finlease Pvt.Ltd..
Refer to Madhusudan Masala IPO RHP for detailed Information.
| IPO Date | September 18, 2023 to September 21, 2023 |
| Listing Date | September 26, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹66 to ₹70 per share |
| Issue Price Final | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 34,00,000 shares (aggregating up to ₹23.80 Cr) |
| Reserved for Market Maker | 1,72,000 shares Hem Finlease Pvt.Ltd. (aggregating up to ₹1.20 Cr) |
| Net Offered to Public | 32,28,000 shares (aggregating up to ₹22.60 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 95,00,000 shares |
| Share Holding Post Issue | 1,29,00,000 shares |
Madhusudan Masala IPO offers total 34,00,000 shares. Out of which 16,12,000 (47.41%) allocated to QIB, 6,46,000 (19.00%) allocated to QIB, 4,86,000 (14.29%) allocated to NII, 11,30,000 (33.24%) allocated to RII and 9,66,000 (28.41%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,72,000 (5.06%) |
| QIB Shares Offered | 16,12,000 (47.41%) |
| − Anchor Investor Shares Offered | 9,66,000 (28.41%) |
| − QIB (Ex. Anchor) Shares Offered | 6,46,000 (19.00%) |
| NII (HNI) Shares Offered | 4,86,000 (14.29%) |
| Retail Shares Offered | 11,30,000 (33.24%) |
| Total Shares Offered | 34,00,000 (100.00%) |
Madhusudan Masala IPO raises ₹6.76 crore from anchor investors. Madhusudan Masala IPO Anchor bid date is September 15, 2023. Madhusudan Masala IPO Anchor Investors list
| Bid Date | September 15, 2023 |
| Shares Offered | 9,66,000 |
| Anchor Portion Size (In Cr.) | 6.76 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 26, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 25, 2023 |
Madhusudan Masala IPO opens on September 18, 2023, and closes on September 21, 2023.
| IPO Open Date | Mon, Sep 18, 2023 |
| IPO Close Date | Thu, Sep 21, 2023 |
| Tentative Allotment | Tue, Sep 26, 2023 |
| Initiation of Refunds | Wed, Sep 27, 2023 |
| Credit of Shares to Demat | Fri, Sep 29, 2023 |
| Tentative Listing Date | Tue, Sep 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 21, 2023 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| HNI (Min) | 2 | 4,000 | ₹2,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Madhusudan Masala Limited is engaged in manufacturing and processing more than 32 types of Spices under the brand names "DOUBLE HATHI" and "MAHARAJA".
The company also offers Whole Spices, Tea, and Other Grocery Products like Rajgira flour, Papad, Soya Products, Asafoetida (Hing), Achar masala (Ready to make pickle powder), Sanchar (Black salt powder), Sindhalu (Rock salt powder), Katlu powder (Food supplement), Kasuri Methi (Dry fenugreek), etc under the brand name of "DOUBLE HATHI". The company also deals in whole spices in retail and bulk quantities as well as papad, soya products, Asafoetida (Hing), black salt, rock salt, etc. procured through third-party manufacturers and packaged under its brand name of "DOUBLE HATHI".
Madhusudan Masala has two product segments:
MM's manufacturing facility is located at Industrial Area Hapa, Near Jamnagar, accredited with ISO 9001:2015 for quality management system, ISO 22000:2018 for Food Safety Management System, HACCP for Hazard Analysis Critical Control Points, and with FSSAI license under the Food Safety and Standards Act 2006.
The company recorded Rs. 12,721.60 Lacs, Rs. 6,540.81 Lacs, and Rs. 6,868.03 Lacs in revenue from operations in fiscal 2023, 2022, and 2021 respectively.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 2,599.90 | 3,514.29 | 5,736.52 |
| Total Income | 6,875.18 | 6,651.81 | 12,750.57 |
| Profit After Tax | 44.98 | 81.29 | 575.89 |
| Net Worth | 1,094.09 | 31.07 | 1,099.10 |
| Reserves and Surplus | 30.07 | 599.10 | |
| Total Borrowing | 966.40 | 2,819.53 | 4,217.20 |
The market capitalization of Madhusudan Masala IPO is ₹90.30 Cr.
| KPI | Values |
|---|---|
| ROE | 101.91% |
| ROCE | 20.08% |
| Debt/Equity | 3.84 |
| RoNW | 52.40% |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment. Bumper performance for FY23 raises eyebrows and concerns over sustainability. Based on its super earnings for FY23, the issue appears fully priced. Well-informed/cash surplus investors may park funds for the medium to long term. Read detail review...
| Listing Date | September 26, 2023 |
| BSE Script Code | |
| NSE Symbol | MADHUSUDAN |
| ISIN | INE0P6701019 |
| Final Issue Price | ₹70 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹120.00 |
| Low | ₹114.00 |
| High | ₹124.00 |
| Last Trade | ₹114.00 |
Madhusudan Masala Ltd.
F. P. No. 19,
Plot No. 1 - B
Hapa Road,
Jamnagar, Gujarat, 361001
Phone: +91- 0288 - 2572002
Email: info@madhusudanmasala.com
Website: https://www.madhusudanmasala.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: mml.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Madhusudan Masala IPO is a SME IPO of 34,00,000 equity shares of the face value of ₹10 aggregating up to ₹23.80 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on September 18, 2023, and closes on September 21, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Madhusudan Masala IPO using UPI as a payment gateway. Zerodha customers can apply in Madhusudan Masala IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Madhusudan Masala IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Madhusudan Masala IPO opens on September 18, 2023 and closes on September 21, 2023.
Madhusudan Masala IPO lot size is 2000, and the minimum amount required for application is ₹1,40,000.
You can apply in Madhusudan Masala IPO 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 Madhusudan Masala IPO will be done on Tuesday, September 26, 2023, and the allotted shares will be credited to your demat account by Friday, September 29, 2023. Check the Madhusudan Masala IPO allotment status.
The Madhusudan Masala IPO listing date is on Tuesday, September 26, 2023.
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