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 name | MCON Rasayan India Limited |
| Sector | Chemicals |
| Industry | Chemicals |
| Company Website | https://mconrasayan.com/ |
The objective of the Issue
- Funding the working capital requirements of the company.
- General Corporate Purposes.
IPO Timetable
| IPO Opening date | 06 March 2023 |
| IPO Closing | 10 March 2023 |
| Basis of Allotment | 15 March 2023 |
| Initiation Refund | 16 March 2023 |
| Credit to Demat Account | 17 March 2023 |
| Listing Date | 20 March 2023 |
IPO details
| Issue type | Fixed 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 size | 3000 Shares |
| Retail Allocation | 50% of the Net Issue |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
Reservation Details
| QIB Shares Offered | Nil |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 896.62 | 897.77 | 1,921.65 | 1,304.39 |
| Expenses | 891.74 | 874.50 | 1,862.53 | 1,188.98 |
| Net income | 3.61 | 18.68 | 44.40 | 85.64 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.32 | 1.25 | 2.96 |
| PE ratio | – | – | 13.51 |
| RONW (%) | 3.27 | 10.47 | 20.06 |
| NAV | – | – | 14.75 |
| ROCE (%) | 7.90 | 12.12 | 9.93 |
| EBITDA (%) | 7.30 | 10.18 | 6.66 |
| Debt/Equity | 2.90 | 1.94 | 3.35 |
Company Promoters
- Mahesh Ravji Bhanushali
Promoter Holding
| Pre Issue Share Holding | 91.45% |
| Post Issue Share Holding | 66.64% |
Lead Manager(s)
- GYR Capital Advisors Limited
IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: mconrasayan.ipo@linkintime.co.in
Website: www.linkintime.co.in
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, Maharashtra, India
Phone:+91 8655988698
E-mail: compliance@mconrasayan.com
Website: www.mconrasayan.com
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
