Fixed Price IPO | ₹7 Cr | Listed at NSE SME | Mon, Mar 6, 2023 - Fri, Mar 10, 2023
MCON Rasayan IPO is a fixed price issue of ₹6.84 crores. The issue is entirely a fresh issue of 0.17 crore shares of ₹6.84 crore.
MCON Rasayan IPO bidding started from Mar 6, 2023 and ended on Mar 10, 2023. The allotment for MCON Rasayan IPO was finalized on Mar 15, 2023. The shares got listed on NSE SME on Mar 20, 2023.
MCON Rasayan IPO price is ₹40 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,40,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Econo Broking Pvt.Ltd..
Refer to MCON Rasayan IPO RHP for detailed Information.
IPO Open
Mon, Mar 6, 2023
IPO Close
Fri, Mar 10, 2023
Issue Price
₹40 per share
Market Cap (Pre-IPO)
₹25.22 Cr
| IPO Date | 6 to 10 Mar, 2023 |
| Listed on | Mon, Mar 20, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 17,10,000 shares (agg. up to ₹7 Cr) |
| Reserved for Market Maker | 90,000 shares Econo Broking Pvt.Ltd. (agg. up to ₹0.3600 Cr) |
| Fresh Issue (Ex Market Maker) | 16,20,000 shares (agg. up to ₹6 Cr) |
| Net Offered to Public | 16,20,000 shares (agg. up to ₹6 Cr) |
| Share Holding Pre Issue | 45,93,750 shares |
| Share Holding Post Issue | 63,03,750 shares |
| NSE Symbol | MCON |
| ISIN | INE0O4M01019 |
MCON Rasayan IPO comprises a total issue size of 17,10,000 shares. The net offer to the public is 16,20,000 shares, after excluding 90,000 shares allotted on a firm basis. Of the Net offer 8,10,000 (50.00%) allocated to NII 8,10,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 8,10,000 | 50.00% | 47.37% |
| Retail Shares Offered | 8,10,000 | 50.00% | 47.37% |
| Firm Reservations | |||
| Market Maker Shares Offered | 90,000 | 5.26% | |
| Total Shares Offered | 17,10,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
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.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 17.78 | 14.46 | 8.32 | 7.76 |
| Total Income | 13.05 | 19.22 | 9.00 | 8.97 |
| Profit After Tax | 0.86 | 0.44 | 0.19 | 0.04 |
| NET Worth | 4.57 | 2.21 | 1.78 | 1.11 |
| Reserves and Surplus | 2.69 | 0.71 | 0.28 | 0.10 |
| Total Borrowing | 6.43 | 7.41 | 3.47 | 3.22 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the company | 4.50 |
| 2 | General Corporate Purposes | 1.64 |
| KPI | |
|---|---|
| ROE | 20.06 |
| ROCE | 9.93 |
| Debt/Equity | 3.35 |
| RoNW | 20.06 |
| PAT Margin | 2.31% |
| EBITDA Margin | 6.66% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.96 | |
| P/E (x) | 14.71 | |
| Promoter Holding | 91.45% | 66.64% |
| Market Cap | ₹25.22 Cr. |
The MCON Rasayan IPO is subscribed 384.64 times on March 10, 2023 7:58:00 PM (Day 4). The public issue subscribed 453.41 times in the retail category, [.] times in the QIB category, and 307.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 307.09 | 8,10,000 | 24,87,42,000 |
| Retail | 453.41 | 8,10,000 | 36,72,60,000 |
| Total | 384.64 | 16,20,000 | 62,31,09,000 |
Total Application : 1,22,420
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including Merchant Banking fees, underwriting fees, Market Making fee and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses | 0.57 |
| 2 | Advertising and Marketing Expenses | 0.05 |
| 3 | Fees payable to the stock exchange(s) | 0.05 |
| 4 | Printing & Stationery, Distribution, Postage, etc. | 0.02 |
| 5 | Brokerage and Selling Commission | 0.01 |
| 6 | Other Expenses (Banker’s to the Issue, Auditor’s Fees etc.) | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹48.00 |
| Low | ₹48.00 |
| High | ₹50.40 |
| Last Trade | ₹50.40 |
Lead Manager Reports
MCON Rasayan IPO is a SME IPO of 17,10,000 equity shares of the face value of ₹10 aggregating up to ₹7 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on Mon, Mar 6, 2023, and closes on Fri, Mar 10, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in MCON Rasayan IPO using UPI as a payment gateway. Zerodha customers can apply in MCON Rasayan IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MCON Rasayan IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MCON Rasayan IPO opens on Mon, Mar 6, 2023 and closes on Fri, Mar 10, 2023.
MCON Rasayan IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in MCON Rasayan 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 MCON Rasayan IPO will be done on Wednesday, March 15, 2023, and the allotted shares will be credited to your demat account by Fri, Mar 17, 2023. Check the MCON Rasayan IPO allotment status.
The MCON Rasayan IPO listing date is on Mon, Mar 20, 2023.
