MCON Rasayan IPO

MCON Rasayan IPO will open for subscription from 06 March 2023. the company aims for an issue size of ₹6.84 Cr through this IPO.

About Company

MCON Rasayan is in the business of manufacturing, marketing, and selling building materials and construction chemicals and has a suite of over 80 products in both powder and liquid forms. Its powder products such as ready mix plaster, tile adhesives, block adhesives, wall putty, micro concrete & polymer mortar, engineering non-shrink grouts, and floor hardeners are widely used in the building construction segment. Its liquid portfolio includes products such as polyurethane (PU) based liquid membranes, bonding agents, paints, anti-corrosive coatings, concrete admixtures, and curing compounds.

The company’s products are marketed and sold under the ‘MCON’ brand. It has two manufacturing plants in Valsad and Navsari, Gujarat. Its plant at GIDC Sarigam, Valsad, Gujarat mainly manufactures admixtures, wall putty, tile adhesives, paints, concrete repair systems, and waterproofing systems and has an installed capacity of 2,500 MTPA. Its other plant at Chikli, Navsari, Gujarat mainly manufactures ready mix mortars, block adhesives, and tile adhesives and has an installed capacity of 12,500 MTPA.

The company`s third plant is a greenfield project under construction at Ambethi, Valsad, and is expected to be operational by the end of FY 2023. Its total installed manufacturing capacity will be 36,000 MTPA for powder products and 6,000 MTPA for liquid products by the end of FY 2023.

Basic details about the company

Full nameMCON Rasayan India Limited
Company Website

The objective of the Issue

  • Funding the working capital requirements of the company.
  • General Corporate Purposes.

IPO Timetable

IPO Opening date06 March 2023
IPO Closing10 March 2023
Basis of Allotment15 March 2023
Initiation Refund16 March 2023
Credit to Demat Account17 March 2023
Listing Date20 March 2023

IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹6.84 Cr – 1,710,000 shares
Fresh Issue₹6.84 Cr – 1,710,000 shares
Offer for sale
Face value₹100 per share
Offer Price₹40 per share
Lot size3000 Shares
Retail Allocation50% of the Net Issue
Listing ExchangeNSE SME

IPO Lot Size

Retail (Min)13000₹120,000
Retail (Max)13000₹120,000
HNI (Min)26,000₹240,000

Reservation Details

QIB Shares OfferedNil
NII (HNI) Shares Offered50%
Retail Shares Offered50%

Financial Performance

 FY 2020FY 2021FY 2022H1 FY 2023
Net income3.6118.6844.4085.64
(Amount in ₹ Lakhs)

Valuations & Margins

FY 2020FY 2021FY 2022
PE ratio13.51
RONW (%)3.2710.4720.06
ROCE (%)7.9012.129.93
EBITDA (%)7.3010.186.66

Company Promoters

  • Mahesh Ravji Bhanushali

Promoter Holding

Pre Issue Share Holding91.45%
Post Issue Share Holding66.64%

Lead Manager(s)

  • GYR Capital Advisors Limited

IPO Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949

Contact Details

101/A, 1st floor, Maxheal House,
Plot-169, CTS-104 Bangur Nagar,
Goregaon West, Near Ayyappa Temple,
Mumbai- 400090, Maharashtra, India
Phone:+91 8655988698

Allotment Status

MCON Rasayan IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

Final thoughts

MCON Rasayan IPO is going to hit Dalal street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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