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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 ₹40.00 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). The minimum lot size investment for 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 Date | March 6, 2023 to March 10, 2023 |
| Listing Date | March 20, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 17,10,000 shares (aggregating up to ₹6.84 Cr) |
| Reserved for Market Maker | 90,000 shares Econo Broking Pvt.Ltd. (aggregating up to ₹0.3600 Cr) |
| Net Offered to Public | 16,20,000 shares (aggregating up to ₹6.48 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 45,93,750 shares |
| Share Holding Post Issue | 63,03,750 shares |
MCON Rasayan IPO offers total 17,10,000 shares. Out of which 8,10,000 (47.37%) allocated to NII, 8,10,000 (47.37%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 90,000 (5.26%) |
| NII (HNI) Shares Offered | 8,10,000 (47.37%) |
| Retail Shares Offered | 8,10,000 (47.37%) |
| Total Shares Offered | 17,10,000 (100.00%) |
MCON Rasayan IPO opens on March 6, 2023, and closes on March 10, 2023.
| IPO Open Date | Mon, Mar 6, 2023 |
| IPO Close Date | Fri, Mar 10, 2023 |
| Tentative Allotment | Wed, Mar 15, 2023 |
| Initiation of Refunds | Thu, Mar 16, 2023 |
| Credit of Shares to Demat | Fri, Mar 17, 2023 |
| Tentative Listing Date | Mon, Mar 20, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Mar 10, 2023 |
Investors can bid for a minimum of 3,000 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 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 776.02 | 896.95 | 3.61 | 110.72 | 9.72 | 321.61 |
| 31-Mar-21 | 831.81 | 899.78 | 18.68 | 178.40 | 28.40 | 346.58 |
| 31-Mar-22 | 1,446.31 | 1,922.36 | 44.40 | 221.29 | 71.29 | 740.85 |
| 30-Sep-22 | 1,777.53 | 1,304.67 | 85.64 | 456.93 | 269.43 | 642.63 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of MCON Rasayan IPO is ₹25.22 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 14.71 |
The Company proposes to utilize the funds towards the following objects:
[Dilip Davda] MRIL is engaged in the business of modern building materials/construction chemicals which is a highly competitive and fragmented segment. Its comparison with bigwigs like Asian Paint, Pidilite, and Kansai Nerolac as peers is nothing but an eyewash. Based on its FY23 earnings the issue is fully priced. Only well-informed/cash surplus investors may take a risk, others can stay away. Read detail review...
| Listing Date | March 20, 2023 |
| BSE Script Code | |
| NSE Symbol | MCON |
| ISIN | INE0O4M01019 |
| Final Issue Price | ₹40 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹48.00 |
| Low | ₹48.00 |
| High | ₹50.40 |
| Last Trade | ₹50.40 |
MCON Rasayan India Ltd.
101/A, 1st floor, Maxheal House, Plot-169
CTS-104 Bangur Nagar, Goregaon West,
Near Ayyappa Temple,
Mumbai, Maharashtra, 400090
Phone: +91 86559 88698
Email: compliance@mconrasayan.com
Website: http://www.mconrasayan.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: mconrasayan.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
MCON Rasayan IPO is a SME IPO of 17,10,000 equity shares of the face value of ₹10 aggregating up to ₹6.84 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on March 6, 2023, and closes on March 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 March 6, 2023 and closes on March 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 Friday, March 17, 2023. Check the MCON Rasayan IPO allotment status.
The MCON Rasayan IPO listing date is on Monday, March 20, 2023.
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