MCON Rasayan India Limited IPO (MCON Rasayan IPO) Detail

 

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.

MCON Rasayan IPO Details

MCON Rasayan IPO is a Fixed Price Issue. The IPO total issue size is Rs 6.84 Cr. The MCON Rasayan IPO price is ₹40 per share. The IPO will list on NSE SME.

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 Size	1,710,000 shares (aggregating up to ₹6.84 Cr)
Fresh Issue	1,710,000 shares (aggregating up to ₹6.84 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Market Maker portion	90,000 shares

MCON Rasayan IPO Reservation

MCON Rasayan IPO a total of 1,710,000 shares are offered. RII: 810,000 (47.37%), NII: 810,000 (47.37%).

Anchor Investor Shares Offered	-
Market Maker Shares Offered	90,000 (5.26%)
Other Shares Offered	810,000 (47.37%)
Retail Shares Offered	810,000 (47.37%)
Total Shares Offered	1,710,000 (100%)

MCON Rasayan IPO Timetable (Tentative)

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

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

MCON Rasayan IPO Lot Size

The minimum lot size of this MCON Rasayan IPO is 3000 shares required is ₹120,000.

Application	Lots	Shares	Amount
Retail (Min)	1	3000	₹120,000
Retail (Max)	1	3000	₹120,000
HNI (Min)	2	6,000	₹240,000

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

Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	776.02	896.95	3.61	110.72	9.72	321.61
31-Mar-21	831.81	899.78	18.68	178.40	28.40	346.58
31-Mar-22	1,446.31	1,922.36	44.40	221.29	71.29	740.85
30-Sep-22	1,777.53	1,304.67	85.64	456.93	269.43	642.63
Amount in ₹ Lakhs

Key Performance Indicator

MCON Rasayan IPO Market Cap is Rs 25.22 Cr and P/E (x) is 14.71.

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