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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.
The Company proposes to utilize the funds towards the following objects:
| IPO Date | Mar 6, 2023 to Mar 10, 2023 |
| Listing Date | Mar 20, 2023 |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,710,000 shares (aggregating up to ₹6.84 Cr) |
| Fresh Issue | 1,710,000 shares (aggregating up to ₹6.84 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 810,000 (50% of the Net Issue) |
| Retail Shares Offered | 810,000 (50% of the Net Issue) |
| Market Maker portion | 90,000 shares (ECONO BROKING PRIVATE LIMITED) |
| Total Shares Offered | 1,620,000 |
| KPI | Values |
|---|---|
| P/E (x) | 14.71 |
| Market Cap (₹ Cr.) | 25.22 |
MCON Rasayan IPO opens on Mar 6, 2023, and closes on Mar 10, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 6, 2023 |
| Closing Date | Mar 10, 2023 |
| Basis of Allotment | Mar 15, 2023 |
| Initiation of Refunds | Mar 16, 2023 |
| Credit of Shares to Demat | Mar 17, 2023 |
| Listing Date | Mar 20, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
The MCON Rasayan IPO lot size is 3000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
| Lot Size Calculator | |||
Mahesh Ravji Bhanushali is the Promoter of the Company.
| Pre Issue Share Holding | 91.45% |
| Post Issue Share Holding | 66.64% |
| 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 | ||||||
[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...
The MCON Rasayan IPO is subscribed 384.64 times on Mar 10, 2023 7:58:00 PM. 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) |
|---|---|
| Other | 307.09 |
| Retail | 453.41 |
| Total | 384.64 |
Total Application : 122,420 (429.54 times)
| Listing Date | Mar 20, 2023 |
| BSE Script Code | |
| NSE Symbol | MCON |
| ISIN | INE0O4M01019 |
| IPO Price | ₹40 per share |
| Price Details |
|---|
| IPO Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹40.00 |
| ₹48.00 |
| ₹48.00 |
| ₹50.40 |
| ₹50.40 |
MCON Rasayan India Limited
101/A, 1st floor, Maxheal House, Plot-169
CTS-104 Bangur Nagar, Goregaon West,
Near Ayyappa Temple, Mumbai- 400090
Phone: +91 86559 88698
Email: compliance@mconrasayan.com
Website: http://www.mconrasayan.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: mconrasayan.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Are you an SME company looking for an IPO to raise funds and get listed in the stock market? We can help. Contact us today... SME IPO Enquiry Form
MCON Rasayan IPO is a SME IPO of 1,710,000 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 Shares.
The IPO opens on Mar 6, 2023, and closes on Mar 10, 2023.
Link Intime India Private 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 Mar 6, 2023 and closes on Mar 10, 2023.
MCON Rasayan IPO lot size is 3000 Shares and the minimum order quantity is .
You can apply in MCON Rasayan 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 MCON Rasayan IPO will be done on Mar 15, 2023, and the allotted shares will be credited to your demat account by Mar 17, 2023. Check the MCON Rasayan IPO allotment status.
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