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MCON Rasayan India Limited IPO (MCON Rasayan IPO) Detail

March 6, 2023 - March 10, 2023

MCON Rasayan IPO is a fixed price issue of Rs 6.84 crores. The issue is entirely a fresh issue of 17.1 lakh shares.

MCON Rasayan IPO bidding started from March 6, 2023 and ended on March 10, 2023. The allotment for MCON Rasayan IPO was finalized on Wednesday, March 15, 2023. The shares got listed on NSE SME on March 20, 2023.

MCON Rasayan IPO price is ₹40 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹240,000.

GYR Capital Advisors Private Limited is the book running lead manager of the MCON Rasayan IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for MCON Rasayan IPO is Econo Broking.

Refer to MCON Rasayan IPO RHP for detailed information.

MCON Rasayan IPO Details

IPO Date March 6, 2023 to March 10, 2023
Listing Date March 20, 2023
Face Value ₹10 per share
Price ₹40 per share
Lot Size 3000 Shares
Total Issue Size1,710,000 shares
(aggregating up to ₹6.84 Cr)
Fresh Issue1,710,000 shares
(aggregating up to ₹6.84 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Market Maker portion90,000 shares
Econo Broking

MCON Rasayan IPO Reservation

MCON Rasayan IPO offers 1,710,000 shares. 810,000 (47.37%) to NII, 810,000 (47.37%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered90,000 (5.26%)
Other Shares Offered810,000 (47.37%)
Retail Shares Offered810,000 (47.37%)
Total Shares Offered1,710,000 (100%)

MCON Rasayan IPO Timeline (Tentative Schedule)

MCON Rasayan IPO opens on March 6, 2023, and closes on March 10, 2023.

IPO Open Date Monday, March 6, 2023
IPO Close Date Friday, March 10, 2023
Basis of Allotment Wednesday, March 15, 2023
Initiation of Refunds Thursday, March 16, 2023
Credit of Shares to Demat Friday, March 17, 2023
Listing Date Monday, March 20, 2023
Cut-off time for UPI mandate confirmation 5 PM on March 10, 2023

MCON Rasayan IPO Lot Size

Investors can bid for a minimum of 3000 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 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000
HNI (Min) 2 6,000 ₹240,000
Lot Size Calculator

MCON Rasayan IPO Promoter Holding

Mahesh Ravji Bhanushali is the Promoter of the Company.

Share Holding Pre Issue 91.45%
Share Holding Post Issue 66.64%

About MCON Rasayan India Limited

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.

Company Financials

MCON Rasayan India Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-20776.02896.953.61110.729.72321.61
31-Mar-21831.81899.7818.68178.4028.40346.58
31-Mar-221,446.311,922.3644.40221.2971.29740.85
30-Sep-221,777.531,304.6785.64456.93269.43642.63
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of MCON Rasayan IPO is Rs 25.22 Cr.

Pre IPO Post IPO
P/E (x) 14.71

Objects of the Issue (MCON Rasayan IPO Objectives)

The Company proposes to utilize the funds towards the following objects:

  1. Funding the working capital requirements of the company
  2. General Corporate Purposes

MCON Rasayan IPO Review (May apply)

[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...


MCON Rasayan IPO Subscription Status (Bidding Detail)

The MCON Rasayan IPO is subscribed 384.64 times on March 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)

CategorySubscription (times)
Other307.09
Retail453.41
Total384.64

Total Application : 122,420 (429.54 times)

MCON Rasayan IPO Prospectus

MCON Rasayan IPO Rating

34
3.9
Rating:Rated 3.9 stars
Vote Here ...

MCON Rasayan IPO Listing Details

Listing Date March 20, 2023
BSE Script Code
NSE Symbol MCON
ISIN INE0O4M01019
Final Issue Price ₹40 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹40.00
₹48.00
₹48.00
₹50.40
₹50.40

Check IPO Performance…

MCON Rasayan India Limited Contact Details

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/

MCON Rasayan IPO Registrar

Link Intime India Private 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 - Buy or Not

MCON Rasayan IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 7 1 0

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MCON Rasayan IPO FAQs

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 March 6, 2023, and closes on March 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'MCON Rasayan 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 MCON Rasayan IPO opens on March 6, 2023 and closes on March 10, 2023.

MCON Rasayan IPO lot size is 3000 Shares, and the minimum amount required is ₹120,000.

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 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 March 20, 2023.
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MCON Rasayan IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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563 Comments

276. Sweetypandya |   Link |  Bookmark |April 5, 2023 4:03:19 PM
Please guide us for MCons next target. I m new.. Thank you.
275. Invest with Abhishek |   Link |  Bookmark |April 5, 2023 12:34:39 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Congratulations to everyone who is holding/bought this gem
275.1. Sweetypandya |   Link |  Bookmark |April 5, 2023 4:01:56 PM
Please guide us for MCons next target. Thank You.. I m new.
275.2. Invest with Abhishek |   Link |  Bookmark |April 6, 2023 12:46:30 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
I would definitely exit. It's already doubled from the listing price. 2x in a short duration is a decent return. Just my views
274. Scrip |   Link |  Bookmark |April 5, 2023 10:57:11 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Exited at UC today.
273. Earthking |   Link |  Bookmark |March 31, 2023 12:30:54 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Till 3rd April that is for another one session it will be in 5% circuit... After 3rd apr circuit is moved to 20% and day trade is allowed... Will be interesting to see how MCON performs after 3rd April ... Also trading closure is announced if they announce board meeting date early then it will be positive sign for the share...
273.2. Earthking |   Link |  Bookmark |April 5, 2023 10:47:24 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
No prediction sir.. Just go with the flow... Now onwards swing on both side will be more... So strictly play with stop loss sir...
273.3. Earthking |   Link |  Bookmark |April 10, 2023 9:10:00 AM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Sold one lot on Thursday @ 79.05 , today sold one lot @ 81.1 pre open...
holding one free lot now ...
272. IPOGUY |   Link |  Bookmark |March 31, 2023 12:23:39 PM
**4th Quarter results will be shared shortly...hoping its positive.

Subject: Intimation of Closure of Trading Window
NSE Symbol: MCON
Ref: NSE Circular No.: NSE/CML/2019/11 Dated April 2, 2019
Pursuant to the provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015 (“ PIT
Regulations “) as amended from time to time and in compliance with The Code of Conduct for
Prevention of Insider Trading of the Company, we wish to inform you that the Trading Window
for dealing in the securities of the Company will remain closed for all Directors, KMP’s and
Designated Persons of the Company and their immediate relatives with effect from Saturday,
01st April, 2023 till 48 hours after the declaration of Audited Financial Results of the Company
for the 4th Quarter and/ or year ended 31st March, 2023 (FY 2022-23).
The date of Board meeting of the company to consider the audited financial statements for the
4th quarter and or/ year ended 31st March, 2023 will be intimated separately.
Kindly take this information to your record.
Thanking You,
For Mcon Rasayan India Limited
271. Thoth |   Link |  Bookmark |March 29, 2023 9:54:50 PM
Bulk deal data shows that Vinod Shankar has bought 102000 shares on 28th March.

Who is he.. Any idea.. 🤔
271.2. Thoth |   Link |  Bookmark |March 31, 2023 9:14:34 PM
Yeah.. You are right..
He sold 102000 shares that he had bought on 28th March.. 😕
271.3. IPOGUY |   Link |  Bookmark |April 5, 2023 9:50:20 AM
He missed opportunity of 10-11 lakh profit today...in 20% upper circuit today
270. IPOGUY |   Link |  Bookmark |March 29, 2023 8:12:17 PM
Tiger hai tu Tiger, roar kar aur 100 paar karke dikha
269. SJogi |   Link |  Bookmark |March 27, 2023 1:02:07 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
no buying orders!
it will go down i guess.
good companies are struggling to get the fancy of the investors.
268. SJogi |   Link |  Bookmark |March 24, 2023 10:20:04 AM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
hold it guys.
yeh bhi rbm jaise bhag sakta hai.
sector is very good, ipo size is very small, financials are very good.
will think of long term investment after the results.
267. Earthking |   Link |  Bookmark |March 22, 2023 6:42:19 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Super show by MCON today... Hope it continues...
267.1. SJogi |   Link |  Bookmark |March 22, 2023 7:05:09 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
company is good and so will be the rally.
266. SJogi |   Link |  Bookmark |March 22, 2023 12:07:49 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
i think it will go 60+ in coming days as sector is in demand.
265. Earthking |   Link |  Bookmark |March 21, 2023 7:09:10 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
21-Mar-2023       MCON       Mcon Rasayan India Ltd       JAYSUKHBHAI THATHAGAR       BUY       42,000       51.06       -
21-Mar-2023       MCON       Mcon Rasayan India Ltd       PARTH INFIN BROKERS PVT LTD       SELL       39,000       50.37       -
264. SJogi |   Link |  Bookmark |March 21, 2023 3:29:48 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Yeh bhi rbm infra jaise bhag sakta hai.
263. Takamichi |   Link |  Bookmark |March 21, 2023 1:10:08 PM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
Those buying today should remember that those who bought yesterday will come to sell tomorrow and day after.... Buy when u can sense there would enough buyer when u r going to sell
263.1. BuLLz EyE |   Link |  Bookmark |March 21, 2023 3:00:14 PM
IPO Mentor IPO Mentor (800+ Posts, 1100+ Likes)
when there would be enough buyers, price will not be buyable..
just grab the opportunity when its there

what you mentioned is applicable to all listed shares, and not a good logic
263.2. BuLLz EyE |   Link |  Bookmark |April 5, 2023 11:10:31 AM
IPO Mentor IPO Mentor (800+ Posts, 1100+ Likes)
and it happened
262. BuLLz EyE |   Link |  Bookmark |March 21, 2023 10:57:50 AM
IPO Mentor IPO Mentor (800+ Posts, 1100+ Likes)
should be closed at upper circuit today
262.5. SJogi |   Link |  Bookmark |April 5, 2023 8:36:28 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
yes i'm also thinking to exit tomorrow.
rbm jaisa gir sakta hai
262.6. SJogi |   Link |  Bookmark |April 6, 2023 9:27:52 AM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
exited today with good profit.
will re enter after seeing the results.
261. Earthking |   Link |  Bookmark |March 20, 2023 10:15:27 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Analysts/Institutional Investor Meet/Con. Call Updates      

Mcon Rasayan India Limited has informed the Exchange about Schedule of meet

Pursuant to Regulation 30(6) of the Listing Regulations, we hereby inform you that the official(s) of MCON RASAYAN
INDIA LIMITED (hereinafter “the Company”), will be interacting with the Investors as per the schedule below:
Date & Day Interaction with Type of Interaction Venue
March 23, 2023,
Thursday
Investors/Analyst/Institutional
Investors
Face-to-Face BKC Sofitel Hotel,
Mumbai
The Company does not intend to discuss any unpublished price-sensitive information during this meeting.
We request you kindly take the aforesaid information on record and disseminate the same on your respective websites.
Note: The above schedule is subject to change, which may happen due to exigencies on the part of the Company or the Investors.

261.6. Earthking |   Link |  Bookmark |March 23, 2023 9:19:34 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
No update yet sir... Not sure whether it is mandatory for them to update ...
261.7. Earthking |   Link |  Bookmark |March 25, 2023 7:56:59 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Company have updated about the investor meeting in NSE ... they have shared the list of investors/HNI attended the meeting ...
260. Baron |   Link |  Bookmark |March 20, 2023 10:03:57 PM
HOLD FOR ONE MONTH GUARANTEED UPPER CIRCUITS
some FIIs will buy this soon this is a gem
259. Earthking |   Link |  Bookmark |March 20, 2023 10:03:44 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
20-Mar-2023       MCON       Mcon Rasayan India Ltd       ECONO BROKING PRIVATE LIMITED       SELL       60,000       50.00       -
20-Mar-2023       MCON       Mcon Rasayan India Ltd       NIKITABEN DEVALBHAI PATEL       BUY       66,000       50.00       -
20-Mar-2023       MCON       Mcon Rasayan India Ltd       PARTH INFIN BROKERS PVT LTD       BUY       45,000       50.40       -
258. SJogi |   Link |  Bookmark |March 20, 2023 9:56:26 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
construction sector is in demand now. Will keep this share till the next results,
and think of long term investment accordingly.
257. lokes |   Link |  Bookmark |March 20, 2023 2:30:59 PM
IPO Guru IPO Guru (4300+ Posts, 5100+ Likes)
it won't go much higher in my view, better to book profit in next 1-2 days....above 55 is tough to go and survive in short term....
257.1. Rohan Bajaj |   Link |  Bookmark |March 20, 2023 9:03:05 PM (300+ Posts)
@lokes I've read on many forums that RBM's order book size is 350 crores and its market cap is very low at the moment. So it's expected to be around ₹110-130 in short term. What do you think about that ? Please guide.