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MITCON Consultancy IPO is a fixed price issue of ₹23.44 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹23.44 crore.
MITCON Consultancy IPO bidding started from Oct 15, 2013 and ended on Oct 18, 2013. The shares got listed on NSE SME on Nov 1, 2013.
MITCON Consultancy IPO price is ₹61.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,22,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,44,000.
IDBI Capital Markets Services 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 Keynote Capitals Ltd..
Refer to MITCON Consultancy IPO RHP for detailed Information.
| IPO Date | October 15, 2013 to October 18, 2013 |
| Listing Date | November 1, 2013 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹61 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 38,42,000 shares (aggregating up to ₹23.44 Cr) |
| Reserved for Market Maker | 2,06,000 shares Keynote Capitals Ltd. (aggregating up to ₹1.26 Cr) |
| Net Offered to Public | 36,36,000 shares (aggregating up to ₹22.18 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 80,00,000 shares |
| Share Holding Post Issue | 1,21,00,000 shares |
MITCON Consultancy IPO offers total 41,00,000 shares. Out of which 19,46,000 (47.46%) allocated to NII, 19,48,000 (47.51%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,06,000 (5.02%) |
| NII (HNI) Shares Offered | 19,46,000 (47.46%) |
| Retail Shares Offered | 19,48,000 (47.51%) |
| Total Shares Offered | 41,00,000 (100.00%) |
MITCON Consultancy IPO opens on October 15, 2013, and closes on October 18, 2013.
| IPO Open Date | Tue, Oct 15, 2013 |
| IPO Close Date | Fri, Oct 18, 2013 |
| Tentative Listing Date | Fri, Nov 1, 2013 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Oct 18, 2013 |
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 | ₹1,22,000 |
| Retail (Max) | 1 | 2,000 | ₹1,22,000 |
| HNI (Min) | 2 | 4,000 | ₹2,44,000 |
Incorporated in 2010, MITCON Consultancy & Engineering Services Ltd is an ISO 9001:2008 certified company engaged in providing consultancy and engineering services. They provides services to banking, infrastructure and biotechnology sectors. They have provided services to small and medium enterprises (SME), large corporates, banks, financial institutions and various government bodies. They classify their services into Consultancy and Engineering Services and Training and Allied services.
Their client based includes GSPC Pipavav Power Company Limited, Ajanta Pharma Limited, VRL Logistics Limited, Sterling Biotech Limited, Naine Minerals & Resources Pte. Limited, Kisan Veer Satara Sahakari Sakhar Karkhana Limited, Shri Vile Parle Kelavani Mandal, D. J. Malpani, Giriraj Enterprises, Mahalaxmi TMT Private Limited, Adlabs Entertainment Limited, HPCL Biofuels Limited, PMT Machines Limited, Kalika Steels Alloys Private Limited and Maharashtra State Police Wireless. Company's shareholders include private sector banks, nationalized banks, financial institutions and state government development corporations.
| KPI | Values |
|---|---|
| RoNW | 18.32% |
The Company MITCON Consultancy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Acquisition of property for setting up new offices in Bangalore, Hyderabad, Chennai, New Delhi and Ahmedabad and environment testing laboratory in Bangalore and Ahmedabad | 16.14 |
| 2 | Purchase of office equipment for new offices | 0.58 |
| 3 | Purchase of furniture and fixtures and carrying out interior designing for the new offices and the environment testing laboratory | 2.91 |
| 4 | Purchase of equipment for environment testing laboratory at Ahmedabad and Bangalore | 1.02 |
| 5 | General Corporate Purposes | 0.81 |
[Dilip Davda] <p class="MsoNoSpacing" style="text-align: justify; margin: 0in 0in 0pt; tab-stops: 91.2pt;"><span style="font-size: medium; font-family: Calibri;">On merchant banker’s front, IDBI Capital has third mandate for NSE SME IPO whereas Keynote has second and looking at past track record of SME IPOs, the average performance of all listings on NSE Emerge so far is not auguring well for this IPO. </span></p> <p class="MsoNoSpacing" style="text-align: justify; margin: 0in 0in 0pt; tab-stops: 91.2pt;"><span style="font-size: medium; font-family: Calibri;"> </span></p> <p class="MsoNoSpacing" style="text-align: justify; margin: 0in 0in 0pt; tab-stops: 91.2pt;"><strong style="mso-bidi-font-weight: normal;"><span style="font-size: medium;"><span style="font-family: Calibri;">Avoid</span></span></strong></p> Read detail review...
| Listing Date | November 1, 2013 |
| BSE Script Code | |
| NSE Symbol | MITCON |
| ISIN | INE828O01033 |
| Final Issue Price | ₹61 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹61.00 |
| Open | ₹60.00 |
| Low | ₹51.10 |
| High | ₹60.00 |
| Last Trade | ₹51.10 |
MITCON Consultancy & Engineering Services Ltd.
First Floor,
Kubera Chambers,
Shivajinagar,
Pune, Maharashtra, 411005
Phone: +91 20 2553 4322
Email: ipo@mitconindia.com
Website: http://www.mitconindia.com
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: mitcon.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
MITCON Consultancy IPO is a SME IPO of 38,42,000 equity shares of the face value of ₹10 aggregating up to ₹23.44 Crores. The issue is priced at ₹61 per share. The minimum order quantity is 2000.
The IPO opens on October 15, 2013, and closes on October 18, 2013.
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 MITCON Consultancy IPO using UPI as a payment gateway. Zerodha customers can apply in MITCON Consultancy IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MITCON Consultancy IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MITCON Consultancy IPO opens on October 15, 2013 and closes on October 18, 2013.
MITCON Consultancy IPO lot size is 2000, and the minimum amount required for application is ₹1,22,000.
You can apply in MITCON Consultancy 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 MITCON Consultancy IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the MITCON Consultancy IPO allotment status.
The MITCON Consultancy IPO listing date is on Friday, November 1, 2013.
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