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Madhav Copper Ltd FPO (Madhav Copper FPO) Detail

Jan 27, 2020 - Jan 30, 2020

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


Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (Rs in Lakhs)
30-Sept-19 31-Mar-19 31-Mar-18 31-Mar-17
Total Assets 4,910.30 4,550.17 2,363.78 2,271.51
Total Revenue 9,434.48 21,305.04 16,910.63 7,162.87
Profit After Tax 260.13 421.42 196.23 86.38

Objects of the Issue

The company proposes to utilize the net proceeds towards the following objects:

1. Purchase of Plant & Machinery
2. Prepayment/ Repayment of certain secured borrowings of the company
3. Funding the working capital requirements
4. General Corporate Purposes

Madhav Copper FPO Details

IPO Date Jan 27, 2020 to Jan 30, 2020
Listing Date Thursday, February 6, 2020
Face Value ₹5 per share
Price ₹100 to ₹102 per share
Lot Size 1200 Shares
Issue Size2,499,600 shares of ₹5
(aggregating up to ₹25.50 Cr)
Fresh Issue2,499,600 shares of ₹5
(aggregating up to ₹25.50 Cr)
Issue Type Book Built Issue FPO
Listing At NSE SME
P/E (x)53
Market Cap (₹ Cr.)276.86
Company Promoters

Nilesh Patel, Rohit Chauhan and Divya Monpara are the promoters of the company.

Madhav Copper FPO Tentative Timetable

Madhav Copper FPO opens on Jan 27, 2020, and closes on Jan 30, 2020. The Madhav Copper FPO bid date is from Jan 27, 2020 10.00 A.M. to Jan 30, 2020 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Tentative Date
Opening Date Jan 27, 2020
Closing Date Jan 30, 2020
Basis of Allotment Feb 4, 2020
Initiation of Refunds Feb 5, 2020
Credit of Shares to Demat Feb 6, 2020
Listing Date Feb 7, 2020

Madhav Copper FPO Lot Size

The Madhav Copper FPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹122,400).

Application Lots Shares Amount
Retail (Min) 1 1200 ₹122,400
Retail (Max) 1 1200 ₹122,400

Madhav Copper FPO Promoter Holding

Pre Issue Share Holding 73.04%
Post Issue Share Holding 63.83%

Madhav Copper FPO Review

The company rewarded investors of IPO well as it gave two free scrips and did a split of face value. However, the current market price at a P/E of around 81 and FPO pricing at a P/E of around 53 makes it an aggressively priced offer compared to peers as well as the industry average. As the coffers are empty, new investors will have to wait for long and thus similar gains are remote possibilities. There is no harm in giving this issue a miss. Read detail review...


Madhav Copper FPO Subscription Status (Bidding Detail)

The Madhav Copper FPO is subscribed 1.74 times on Jan 30, 2020 6:00:00 PM. 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)

CategorySubscription (times)
NII1.72
Retail1.77
Total1.74

Madhav Copper FPO Prospectus

Madhav Copper FPO Rating

81
4.2
Rating:Rated 4.2 stars
Vote Here ...

Madhav Copper FPO Listing Date

Listing Date Thursday, February 6, 2020
BSE Script Code
NSE Symbol MCL
Listing In
ISIN INE813V01022
IPO Price ₹102 per share
Face Value ₹5 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
₹102.00
₹102.00
₹98.10
₹102.00
₹99.75

Company Contact Information

Madhav Copper Ltd
Plot No. 2107/D, Office No. 203,
2nd Floor, D&I Excelus,
Waghawadi Road, Bhavnagar, Gujarat 364001
Phone: +91 278 2221034
Email: investors@madhavcopper.com
Website: http://www.madhavcopper.com

Madhav Copper FPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Madhav Copper FPO Review

Madhav Copper FPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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Madhav Copper FPO FAQs

Madhav Copper FPO is a SME FPO of 2,499,600 equity shares of the face value of ₹5 aggregating up to ₹25.50 Crores. The issue is priced at ₹100 to ₹102 per share. The minimum order quantity is 1200 Shares.

The FPO opens on Jan 27, 2020, and closes on Jan 30, 2020.

Bigshare Services Pvt Ltd is the registrar for the FPO. The shares are proposed to be listed on NSE SME.

The Madhav Copper FPO opens on Jan 27, 2020 and closes on Jan 30, 2020.

Madhav Copper FPO lot size is 1200 Shares and the minimum order quantity is .

You can apply in Madhav Copper FPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Madhav Copper FPO will be done on Feb 4, 2020, and the allotted shares will be credited to your demat account by Feb 6, 2020. Check the Madhav Copper FPO allotment status.

The Madhav Copper FPO listing date is on Thursday, February 6, 2020.
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Madhav Copper FPO Message Board

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55 Comments

26. HEMIPO |   Link |Feb 11, 2020 7:20:09 AM
Madhav copper fpo price 102 .....cmp 73/- ..
26.3. Small Investor |   Link |Feb 12, 2020 11:28:34 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Do't wait the lavel of 150,if you got your Issue price then you exit ,its SME not main board
baki to aap samjhdar ho
26.4. Dinesh Singh |   Link |Feb 12, 2020 3:07:08 PM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
This is promoter driven stock. The one year high is 358.
Today there is UC at 98.80.
Tomorrow it will go above issue price.
But I will wait for few days more.
No risk no game.
25. Dinesh Singh |   Link |Feb 7, 2020 9:46:31 AM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
It will difinately go above 102 level.
Don't sell. Wait for only few days.
25.4. Dinesh Singh |   Link |Feb 7, 2020 12:23:33 PM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
Dear Small,
It is part of game. Some you win some you loose.
I am still holding 1 lot and will sell in profit only
Will wait for 1 weeks time.

25.5. Small Investor |   Link |Feb 10, 2020 2:34:09 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Dear Dinesh Yet you Hold your MCL Allotment ?
24. BLR |   Link |Feb 7, 2020 6:40:47 AM
Oh !! Missed. I thought listing will be today otherwise I would have exit at 102. Now i will wait for few days with SL at 95
24.3. BLR |   Link |Feb 7, 2020 2:14:51 PM
True . lost 7*1200 . even i checked yesterday 9:15 am my holdings it was not showing . Date was showing here 7th Feb . As dinesh said may be it will comes up but i don't want take risk . This money i will recover from other stocks
24.4. Small Investor |   Link |Feb 7, 2020 2:29:41 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Dear BLR
Pantamath aajkl bakwas LM ho gya h
23. BLR |   Link |Feb 7, 2020 12:06:35 PM
SL hits
22. Small Investor |   Link |Feb 6, 2020 11:06:51 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Jisne bhi is FPO m apply kiya tha and usko Allotment nhi mila h to wo best price 98-99 pr buy kr skta h but
ye stock sayd 100 se niche hi list ho skta h agar aaj closing 102 nhi hui to pkka loss hoga alloties ko ,aaj agar is price pr bhi koi NII stock buy nhi kr rha h to bhla listing pr 102 se upar kyo buy krega
21. BLR |   Link |Feb 5, 2020 10:21:04 AM
Got 1 lot . today's low is 96.95 . Current price is 101.95 . Issue price is 102 . Now we have to see how LM will going to handle this script on listing day .
20. dipandesai |   Link |Feb 4, 2020 4:45:22 PM
MADHAV COPPER TODAY CLOSE 100.70. FPO PRICE :- 102.
20.1. Small Investor |   Link |Feb 4, 2020 5:36:51 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
low also 99+
its should be list 100-103 price
19. hchc |   Link |Feb 4, 2020 4:52:45 PM
Top Contributor Top Contributor (200+ Posts, 700+ Likes)
Debit started
18. Sayan |   Link |Feb 4, 2020 4:05:06 PM
Allotment result out..
17. hchc |   Link |Jan 30, 2020 4:53:15 PM
Top Contributor Top Contributor (200+ Posts, 700+ Likes)
Applied 1 lot
16. Sayan |   Link |Jan 30, 2020 4:35:04 PM
Applied 2 Lots.
15. BLR |   Link |Jan 30, 2020 10:03:33 AM
Applied two lots based on LM performance . It is high volatile stock. in last two year price fallen from 110 to 35 . again it recovered from 35 to 140 . now trading at 111. 102 is good level to buy ( price which is offered here ) on technical chart .
15.2. Small Investor |   Link |Jan 30, 2020 12:54:01 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Dear BLR
MCL Rich now 108 lavel from 124 when mcl fpo information come in market its may be reach 100-105 and its last price of mcl
15.3. BLR |   Link |Jan 30, 2020 4:13:34 PM
Dear Small Investor : Taken calculated risk. Let's we will see.
14. Small Investor |   Link |Jan 30, 2020 3:04:50 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Dear Raja, Dinesh appply in MCL ?
14.1. Dinesh Singh |   Link |Jan 30, 2020 3:52:58 PM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
Dear Small,
Applied 1 lot.
14.2. Small Investor |   Link |Jan 30, 2020 3:56:19 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
i skip
13. MAYUKH RANJAN PAUL |   Link |Jan 27, 2020 10:22:11 AM
Can any body suggests me any good brocker(s) for applying in SME/Emerging IPOs as Zerodha only provides application for mainboard IPOs. Thanks in advance.
13.3. DownriteVJ |   Link |Jan 30, 2020 1:02:31 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
ICICI Sec or HDFC Sec
13.4. Dinesh Singh |   Link |Jan 30, 2020 1:25:51 PM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
ICICI Securities does not deel with SPE IPO
12. Small Investor |   Link |Jan 30, 2020 1:07:37 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
kisi k pass sona hi sona jewels ipo h to sell it with profit of rs 40000
buyer @ 14
11. DownriteVJ |   Link |Jan 30, 2020 1:05:15 PM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
108 Now. Skipping makes more sense now.
10. TheLearner |   Link |Jan 29, 2020 8:32:35 PM
APPLY FOR GOOD LISTING GAIN
9. K joshi |   Link |Jan 28, 2020 9:53:42 PM
1) earlier ipo was for working capital and brand image and now for expansion with additional working capital and repay loan
2) explain logic - raise fund for working capital and same time reduce term loan . Why same not use for working capital
3) profit and sales in last 6 months more than 12 months and profit improve then why to reduce term loan
4) why so jump in sales in six months give major Party sales order

Above show not worth to invest
8. Dinesh Singh |   Link |Jan 28, 2020 11:11:15 AM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
Price is drifting towards lower near to issue price.
Can be avoided now.
7. RAJAKUMAR |   Link |Jan 27, 2020 10:26:48 AM
IPO Guru IPO Guru (1400+ Posts, 1200+ Likes)
Dear Dinesh
If operator holds the rate above issue price then it may be good.
Are you applying.
7.1. Dinesh Singh |   Link |Jan 27, 2020 1:48:15 PM
IPO Guru IPO Guru (1100+ Posts, 400+ Likes)
Dear Raja,
I intend to apply on last day.