MCON Rasayan India was incorporated on September 22, 2016. The company is in the business of manufacturing, marketing and selling modern building materials and construction chemicals with a suite of more than 80 products.
| Bidding Dates |
|---|
| 06 Mar 2023 - 10 Mar 2023 |
| Subscription |
|---|
| 384.64x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 3000 | 1.7 M | ₹40 | 72.87 % | ₹68.4 M | RHP DOC |
MCON Rasayan IPO SUBSCRIPTION STATUS
10 Mar '23MCON Rasayan IPO overall subscription rate was 384.64 times the total available shares
MCON Rasayan IPO retail subscription rate was 453.41 times in the retail segment
MCON Rasayan IPO non-institutional investor subscription rate was 307.09 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
10 Mar 2023 (Day 4) | 453.41x | 307.09x | - |
09 Mar 2023 (Day 3) | 241.77x | 72.04x | - |
08 Mar 2023 (Day 2) | 115.87x | 33.03x | - |
06 Mar 2023 (Day 1) | 32.65x | 16.23x | - |
MCON Rasayan FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 8.6 | 130.4 | 2.8 | -3.0 | 8.0% |
| FY22 | 4.4 | 192.2 | -19.6 | -34.5 | 6.7% |
| FY21 | 1.9 | 89.8 | -0.2 | -3.1 | 10.2% |
| FY20 | 0.4 | 89.7 | -5.7 | -6.8 | 7.3% |
MCON Rasayan IPO SUBSCRIPTION STATUS DETAILS
MCON Rasayan had 1.7 M shares on offer
MCON Rasayan IPO offer price was ₹40
MCON Rasayan IPO minimum Investment was ₹120000
MCON Rasayan IPO issue size was ₹ 68.4 M
MCON Rasayan had a minimum lot size of 3000 Shares per application
MCON Rasayan NUMBER OF SHARES ON OFFER
MCON Rasayan IPO IMPORTANT DATES
| Issue Open Date | 06 Mar 2023 |
| Issue close Date | 10 Mar 2023 |
| Allotment Date | 15 Mar 2023 |
| Refund Date | 16 Mar 2023 |
| Demat Account Credit Date | 17 Mar 2023 |
| Listing Date | 20 Mar 2023 |
| Listing on Exchange(s) | NSE |
| MCON Rasayan Allotment Status | Exchange |
MCON Rasayan IPO subscription opened on 06 Mar 2023, and closed on 10 Mar 2023
IPO allotment for MCON Rasayan was finalized on Wednesday, 15 Mar 2023
IPO listing for MCON Rasayan was on NSE on Monday, 20 Mar 2023
MCON Rasayan IPO LISTING GAINS
| Issue Price (adjusted) | 40.0 |
| Listing Open Price | 48.0 |
| Listing Close Price | 50.4 |
| Listing Gain% | 20.0% |
| Current Gain% | 6.3% |
MCON Rasayan Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MCON Rasayan India Ltd. | 42.5 | 26.8 | 10.2 | 0.7 | 0.4 | 8.4 | 4 | 65.4 | 27.1 | 3 | 33.9 | 4.2 | 15.2 |
| Midwest Ltd. | 1197 | 4328.4 | 41.3 | -2.9 | 6.7 | 10.9 | 7.7 | 659.8 | 2.6 | 104.8 | -14.4 | 29 | -14.4 |
| Shankara Buildpro Ltd. | 1336.2 | 3240.2 | 24.7 | 0.2 | 0.5 | 23.4 | 8 | 6827.1 | 29.6 | 127.7 | 63.4 | 54.1 | 114.3 |
| Pokarna Ltd. | 986.6 | 3058.9 | 32.2 | -0.7 | 5.2 | 9.4 | 5 | 593.7 | -37.6 | 80.6 | -57 | 30.6 | -48.1 |
| Ramco Industries Ltd. | 339.6 | 2949.6 | 9.6 | 0.1 | 1.7 | 6.8 | 6.2 | 1807.3 | 7.9 | 306.3 | 69.3 | 35.3 | 69.3 |
| Arisinfra Solutions Ltd. | 132.4 | 1083.1 | 16.3 | 0 | 0.9 | 7.1 | 5.1 | 1080 | 38.1 | 52.7 | 2452.3 | 8.1 | 9720.6 |
MCON Rasayan INFORMATION ON IPO ISSUE
About MCON Rasayan
MCON Rasayan India was incorporated on September 22, 2016. The company is in the business of manufacturing, marketing and selling modern building materials and construction chemicals with a suite of more than 80 products.
Object of the Issue
- Funding the working capital requirements of the company
- General corporate purposes
MCON Rasayan - PROMOTERS
| Name |
|---|
| Mahesh Ravji Bhanushali |
MCON Rasayan Lead Manager
GYR Capital Advisors Private Limited
info@gyrcapitaladvisors.com
MCON Rasayan Registrar to the Issue
Link Intime India Private Limited
mconrasayan.ipo@linkintime.co.in
MCON Rasayan Strengths
Comprehensive product portfolio
The company's products provide a wide range of solutions for modern living, be it construction or repair of buildings
Diverse customer base
The company caters to the development requirements of clients like developers, civil contractors and architects
Quality standard certification
The company has obtained ISO 9001, ISO 14001 and ISO 45001 for the management systems at its manufacturing facility at GIDC Sarigam, Valsad, Gujarat
MCON Rasayan Risks
Dependent on few customers
The company has historically derived a significant portion of its income from its top five customers and may continue to do so
Seasonal variations and cyclicality
The business is subject to seasonal variations and cyclicality that could result in fluctuations in the results of operations
Negative cash flows
The company has experienced negative cash flows in the past and may continue to do so in the future, and the same may adversely affect the cash flow requirements
IPO FAQs
The promoter of the company is Mahesh Ravji Bhanushali.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 40.0 - 40.0.
The IPO application opens on Mar 06, 2023 and closes on Mar 10, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Mar 15, 2023.
The refund will be credited to your account on Mar 16, 2023.
The allotted shares will be credited to your demat on Mar 17, 2023.
MCON Rasayan India Ltd.’s shares listed on the stock exchanges on Mar 20, 2023.