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Master Components Limited IPO (Master Components IPO) Detail

September 18, 2023 - September 21, 2023

Master Components IPO is a fixed price issue of Rs 15.43 crores. The issue is a combination of fresh issue of 7 lakh shares aggregating to Rs 9.80 crores and offer for sale of 4.02 lakh shares aggregating to Rs 5.63 crores.

Master Components IPO bidding started from September 18, 2023 and ended on September 21, 2023. The allotment for Master Components IPO was finalized on Tuesday, September 26, 2023. The shares got listed on NSE SME on September 29, 2023.

Master Components IPO price is ₹140 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹280,000.

Aryaman Financial Services Limited is the book running lead manager of the Master Components IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Master Components IPO is Aryaman Capital Markets.

Refer to Master Components IPO RHP for detailed information.

Master Components IPO Details

IPO Date September 18, 2023 to September 21, 2023
Listing Date September 29, 2023
Face Value ₹10 per share
Price ₹140 per share
Lot Size 1000 Shares
Total Issue Size1,102,000 shares
(aggregating up to ₹15.43 Cr)
Fresh Issue700,000 shares
(aggregating up to ₹9.80 Cr)
Offer for Sale402,000 shares of ₹10
(aggregating up to ₹5.63 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Share holding post issue4,000,000
Market Maker portion56,000 shares
Aryaman Capital Markets

Master Components IPO Reservation

Master Components IPO offers 1,102,000 shares. 523,000 (47.46%) to NII, 523,000 (47.46%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered56,000 (5.08%)
Other Shares Offered523,000 (47.46%)
Retail Shares Offered523,000 (47.46%)
Total Shares Offered1,102,000 (100%)

Master Components IPO Timeline (Tentative Schedule)

Master Components IPO opens on September 18, 2023, and closes on September 21, 2023.

IPO Open Date Monday, September 18, 2023
IPO Close Date Thursday, September 21, 2023
Basis of Allotment Tuesday, September 26, 2023
Initiation of Refunds Wednesday, September 27, 2023
Credit of Shares to Demat Thursday, September 28, 2023
Listing Date Friday, September 29, 2023
Cut-off time for UPI mandate confirmation 5 PM on September 21, 2023

Master Components IPO Lot Size

Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 1000 ₹140,000
Retail (Max) 1 1000 ₹140,000
HNI (Min) 2 2,000 ₹280,000
Lot Size Calculator

Master Components IPO Promoter Holding

Mudduraj Kulkarni, Shrikant Joshi, Rajeshwari Kulkarni, and Anagha Joshi are the company's promoters.

Share Holding Pre Issue 100.00%
Share Holding Post Issue 72.41%

About Master Components Limited

Incorporated in 1999, Master Components Limited is engaged in manufacturing plastic engineering components and sub-assemblies.

The company's primary activity is molding the materials to produce new components for Electrical, Medical, Industrial, and Automotive sector applications. Following is the list of their services:

  1. Thermoplastic Injection Molding
  2. Thermoset Injection Molding
  3. Thermoset transfer molding
  4. Compression Molding

Master Components' manufacturing facility is located in Nashik on the Mumbai- Pune Highway. The facility has a capacity ranging from 60-450 tonnes and the products molded range from 1gm to 1500 gms.

As of March 31, 2023, the company has over 25 employees. The company also employs contract employees for project-specific work from time to time.

Master Components Limited is a part of Master Group, which has more than 3 factories and over 120 employees. Master Group also owns Master Mould Pvt. Ltd., a designing and manufacturing company of all types of injection, compression, and transfer molds.

Company Financials

Master Components IPO Financial Information (Restated)
Period Ended31 Mar 202031 Mar 202131 Mar 202231 Mar 2023
Profit After Tax132.2276.1493.73170.54
Net Worth824.90901.04994.771,165.31
Reserves and Surplus794.90871.04964.77835.31
Total Borrowing376.54216.29173.3393.96
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Master Components IPO is Rs 56 Cr.

KPI Values
Pre IPO Post IPO
EPS (Rs) 5.17
P/E (x) 27.0932.86

Objects of the Issue (Master Components IPO Objectives)

The company proposes to utilize the Net Proceeds from Issue towards funding the following objects:

  1. Funding Working capital requirements.
  2. General Corporate Purpose.

Master Components IPO Review (Avoid)

[Dilip Davda]  The company is operating in a highly competitive and fragmented segment. It has posted growth in its top line but super earnings for FY23 raises concern over the sustainability of margins. Based on FY23 performance, the issue appears aggressively priced. The small equity capital post IPO indicates longer gestation for migration to mainboard. There is no harm in skipping this pricey bet. Read detail review...

Master Components IPO Subscription Status (Bidding Detail)

The Master Components IPO is subscribed 8.20 times on September 21, 2023 7:29:00 PM. The public issue subscribed 10.11 times in the retail category, times in the QIB category, and 5.89 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

Total Application : 5,285 (10.11 times)

Master Components IPO Prospectus

Master Components IPO Rating

Rating:Rated 2.0 stars
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Master Components IPO Listing Details

Listing Date September 29, 2023
BSE Script Code
Final Issue Price ₹140 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Master Components Limited Contact Details

Master Components Limited
Plot No. D-10/A
and D-10/B, M.I.D.C,
Ambad, Nashik - 422010
Phone: +91 9823016315

Master Components IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Master Components IPO - Buy or Not

Master Components IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 3

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Master Components IPO FAQs

Master Components IPO is a SME IPO of 1,102,000 equity shares of the face value of ₹10 aggregating up to ₹15.43 Crores. The issue is priced at ₹140 per share. The minimum order quantity is 1000 Shares.

The IPO opens on September 18, 2023, and closes on September 21, 2023.

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

Zerodha customers can apply online in Master Components IPO using UPI as a payment gateway. Zerodha customers can apply in Master Components IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Master Components IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Master Components IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Master Components IPO opens on September 18, 2023 and closes on September 21, 2023.

Master Components IPO lot size is 1000 Shares, and the minimum amount required is ₹140,000.

You can apply in Master Components IPO 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Master Components IPO will be done on Tuesday, September 26, 2023, and the allotted shares will be credited to your demat account by Thursday, September 28, 2023. Check the Master Components IPO allotment status.

The Master Components IPO listing date is on September 29, 2023.
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Master Components IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



31. Kalia |   Link |  Bookmark |September 29, 2023 12:10:54 PM
Aajkal ipo game badal gaya hai. No point in applying IPO, game is after listing. On a side note, i have sold holmorc opto 3000 shares today at upper circuit
30. Basuvr |   Link |  Bookmark |September 29, 2023 9:45:39 AM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
Listed flat
30.1. AMIT IND |   Link |  Bookmark |September 29, 2023 9:49:31 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Its good as per yesterdays listing of other sme ipos.
30.2. Ananda K |   Link |  Bookmark |September 29, 2023 10:15:10 AM
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
Also its trading flat... No UC or LC..
29. IPO Gyaaan |   Link |  Bookmark |September 28, 2023 6:58:20 PM (200+ Posts)
Listing - 29th September
Symbol - Mater
29.1. IPO Gyaaan |   Link |  Bookmark |September 28, 2023 7:05:57 PM (200+ Posts)
*Symbol - Master
28. GANGAJ |   Link |  Bookmark |September 28, 2023 11:12:26 AM
Master component and Marco cable showing same nse symbol.. kindly correct @Admin @
28.1. Admin @ |   Link |  Bookmark |September 28, 2023 12:01:03 PM
IPO Guru IPO Guru (1000+ Posts, 1500+ Likes)
Fixed. Thank you for your kind feedback.

Thank you,
Admin @

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27. Krishna T |   Link |  Bookmark |September 28, 2023 11:23:35 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Tera kya hoga Kaliya after recent SME fiasco!
26. Traderjee |   Link |  Bookmark |September 28, 2023 11:05:35 AM
listing is today?
I can not find this script on anywhere?
25. Anuj agarwal |   Link |  Bookmark |September 26, 2023 9:50:02 PM (300+ Posts)
Gt 3 lots.. shud have gt 4 😀
24. Agrawal S |   Link |  Bookmark |September 26, 2023 9:15:47 PM
Top Contributor Top Contributor (800+ Posts, 200+ Likes)
Woow amount unblock hua Master Component ka.. site mai allotment uploaded for Marco Cables
23. Anuj agarwal |   Link |  Bookmark |September 26, 2023 9:10:35 PM (300+ Posts)
Chota sa ipo hai hai allotment deke khatam karo
23.1. Agrawal S |   Link |  Bookmark |September 26, 2023 9:11:08 PM
Top Contributor Top Contributor (800+ Posts, 200+ Likes)
Debit/Unblocking started
22. Dinesh Singh |   Link |  Bookmark |September 26, 2023 7:12:48 PM
IPO Guru IPO Guru (1300+ Posts, 500+ Likes)
Any news of allotment?
22.1. KumarMN |   Link |  Bookmark |September 26, 2023 7:52:12 PM
Not as of now
22.2. Agrawal S |   Link |  Bookmark |September 26, 2023 9:09:50 PM
Top Contributor Top Contributor (800+ Posts, 200+ Likes)
My UPI mandate revoked.
21. Anuj agarwal |   Link |  Bookmark |September 24, 2023 12:02:28 AM (300+ Posts)
See the clients

21.1. Agrawal S |   Link |  Bookmark |September 24, 2023 12:12:44 AM
Top Contributor Top Contributor (800+ Posts, 200+ Likes)
Any GMP here?
21.2. Anuj agarwal |   Link |  Bookmark |September 24, 2023 11:44:40 PM (300+ Posts)
Very less work... no seller avlble... company looks solid and legit... hos last was some work happend at 20rs premium
20. Anuj agarwal |   Link |  Bookmark |September 23, 2023 12:52:14 PM (300+ Posts)
Its much much better company than many farzi out there... see their epf data and contracts... its a silent ipo but at the end funda will win..not the noise...
20.1. Logij Kumar |   Link |  Bookmark |September 26, 2023 3:16:57 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Not worth the money 💰 now,
may be in future.
All the best anyway.
20.2. Anuj agarwal |   Link |  Bookmark |September 26, 2023 3:28:34 PM (300+ Posts)
Ya envrmnt is nt right
19. KAMMA SIVA RAMA KRISHNA |   Link |  Bookmark |September 22, 2023 7:31:45 PM
Skipped on going through the posts of the views of DILIP DAVDA SIR n our learned scholars in the form of Gurus, mentors, contributors n other members of the forum.
18. GJ 😀 |   Link |  Bookmark |September 21, 2023 4:08:28 PM
IPO Mentor IPO Mentor (1600+ Posts, 400+ Likes)
Master Components IPO,
1 Retail app
18.3. GJ 😀 |   Link |  Bookmark |September 27, 2023 12:27:48 AM
IPO Mentor IPO Mentor (1600+ Posts, 400+ Likes)
Master Components IPO,
0 allotment

@Agrawal S 
Better luck next time.
Be happy in every situation man.
18.4. Agrawal S |   Link |  Bookmark |September 27, 2023 10:28:14 AM
Top Contributor Top Contributor (800+ Posts, 200+ Likes)
@GJ 😀 yep, part of the process. Thanks!!
17. Basuvr |   Link |  Bookmark |September 21, 2023 3:58:21 PM
IPO Guru IPO Guru (1800+ Posts, 1000+ Likes)
GMP vanished
16. Old.Fox |   Link |  Bookmark |September 21, 2023 2:58:02 PM
IPO Mentor IPO Mentor (700+ Posts, 300+ Likes)
Applied in all 3 closing today.
15. scbkc |   Link |  Bookmark |September 21, 2023 2:57:11 PM
LOKES SIR has suggested to sell in grey and apply
Lokes ji or any body else Please provide the contact details of the party with whom this deal can be struck
Would be very grateful for the above information
14. Sanchit Jain |   Link |  Bookmark |September 21, 2023 2:49:09 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
14.1. Anil Mwt |   Link |  Bookmark |September 21, 2023 2:54:39 PM (300+ Posts)
Same here… skipped
High risk
13. Heathslayer |   Link |  Bookmark |September 21, 2023 11:53:31 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Unihealth bhi 14% gmp thi still listed with 4 percent. ye bhi 14% gmp listing tak gayab ho jaaegi but operators kuch bhi kar sakte hain. achche Gmp waale IPO milte nahi to isi ko upar se open karwa den. Better to avoid though.
12. AMIT IND |   Link |  Bookmark |September 21, 2023 10:09:44 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Avoiding it due to higher price, Spark is missing and too much other options are available