MCON Rasayan India Limited IPO (MCON Rasayan IPO) Detail

Mar 6, 2023 - Mar 10, 2023

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.

Objects of the Issue

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 Details

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 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

MCON Rasayan IPO Reservation

NII (HNI) Shares Offered810,000 (50% of the Net Issue)
Retail Shares Offered810,000 (50% of the Net Issue)
Market Maker portion90,000 shares (ECONO BROKING PRIVATE LIMITED)
Total Shares Offered1,620,000


KPI Values
P/E (x)14.71
Market Cap (₹ Cr.)25.22

MCON Rasayan IPO Tentative Timetable

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

MCON Rasayan IPO Lot Size

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

MCON Rasayan IPO Promoter Holding

Mahesh Ravji Bhanushali is the Promoter of the Company.

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

Company Financials

MCON Rasayan India Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
Amount in ₹ Lakhs

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 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)

CategorySubscription (times)

Total Application : 122,420 (429.54 times)

MCON Rasayan IPO Prospectus

MCON Rasayan IPO Rating

Rating:Rated 3.9 stars
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MCON Rasayan IPO Listing Details

Listing Date Mar 20, 2023
BSE Script Code
IPO Price ₹40 per share

Listing Day Trading Information

Price Details
IPO Price
Last Trade

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Company Contact Information

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/

MCON Rasayan IPO Analysis

MCON Rasayan IPO Recommendation Summary

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

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SME IPO Enquiry

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

  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 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.

The MCON Rasayan IPO listing date is on Mar 20, 2023.
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