MCON Rasayan India IPO Details
- Open Date 06-Mar-23
- Close Date 10-Mar-23
- Lot Size 3000
- IPO Size ₹ 6.84 Cr
- IPO Price Range ₹ 40
- Min Investment ₹ 120000
- Listing Exchange NSE SME
- Basis of Allotment 15-Mar-23
- Refunds 16-Mar-23
- Credit to Demat Account 17-Mar-23
- Listing Date 20-Mar-23
MCON Rasayan India IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 06-Mar-23 | - | 16.23x | 32.71x | 24.47x |
| 08-Mar-23 | - | 33.03x | 115.87x | 74.45x |
| 09-Mar-23 | - | 73.88x | 237.87x | 155.87x |
| 10-Mar-23 | - | 307.09x | 453.41x | 384.64x |
MCON Rasayan India IPO Synopsis
MCON Rasayan IPO opens on 6th March and closes on 10th March. The fresh issue entails of fresh issue of 1,710,000 equity shares aggregating the issue size to Rs. 6.84 cr. The lot size has been set to 3000 shares per lot while the price has been fixed at Rs. 40 per share. The issue will be listed on NSE SME on 20th March while the shares will be allotted on 15th March. GYR Capital Advisors Ltd. is the lead manager to the issue.
Objective of the MCON Rasayan IPO
The net proceeds from the issue will be utilised for:
• Funding the working capital requirements of the company
• General Corporate Purposes
About MCON Rasayan India
MCON Rasayan is primarily engaged in the business of manufacturing, marketing and selling of modern building materials and construction chemicals with a suite of more than 80 products which includes a range of construction materials and construction chemicals in both powder and liquid forms.
The 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.
The liquid portfolio having products such as poly-urethane (PU) based liquid membrane, bonding agents, paints, anti-corrosive coatings, concrete admixtures and curing compounds.
It has manufacturing plants, one each in Valsad and Navsari, Gujarat. The 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.
It also has another plant at Chikli, Navsari, Gujarat mainly manufactures readymix mortars, block adhesives and tile adhesives and has an installed capacity of 12,500 MTPA.
A third plant is a greenfield project under-construction at Ambethi, Valsad and is expected to be operational by the end of FY 2023.
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MCON Rasayan India Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Revenue | 19.22 | 8.98 | 8.97 |
| EBITDA | 1.28 | 0.91 | 0.65 |
| PAT | 0.44 | 0.19 | 0.04 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Total Assets | 14.46 | 8.32 | 3.47 |
| Share Capital | 1.50 | 1.50 | 1.01 |
| Total Borrowings | 7.41 | 3.47 | 3.22 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | -2.0 | 0.0 | -0.6 |
| Net cash from / (used in) investing activities | -1.5 | -0.3 | -0.1 |
| Net cash flow from / (used in) financing activities | 3.5 | 0.3 | 0.6 |
| Net increase (decrease) in cash and cash equivalents | 0.0 | 0.0 | -0.1 |
Peer Comparison
| Name of the Company | Total Revenue | Basic EPS | CMP | PE | RoNW% |
|---|---|---|---|---|---|
| MCON Rasayan | 13.05 | 5.48 | 40 | 7.3 | 18.74% |
| Asian Paints Limited | 15,161.52 | 18.76 | 2807.9 | 149.67 | 13.19% |
| Pidilite Industries Limited | 5,543.97 | 13.5 | 2318 | 171.7 | 10.43% |
| Kansai Nerolac Paints Limited | 3,766.76 | 5.01 | 413 | 82.43 | 6.54% |
MCON Rasayan India IPO Key Points
-
Strengths
• Strategic location of manufacturing units
• In-house research and development of products
• Comprehensive product portfolio
• Diverse customer base
-
Risks
• Business is subject to seasonal variations and cyclicality
• Failure to raise additional financing for the modern building materials and chemicals industry
• Any disruption in the distribution network for the sale and distribution of the products.
• The quality of the modern building materials may be impacted by the quality of the raw materials supplied by third parties.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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MCON Rasayan India IPO FAQs
What is the price band of the MCON Rasayan IPO?
The price for the MCON Rasayan IPO is set at Rs. 40 per share
When does the MCON Rasayan IPO issue open and close?
The MCON Rasayan IPO opens on 6th March and closes on 10th March.
What is the size of MCON Rasayan IPO issue?
The IPO comprises of fresh issue of 1,710,000 equity shares which aggregates the issue size to Rs. 6.84cr.
What is the allotment date of MCON Rasayan IPO?
The allotment date of MCON Rasayan IPO is set for 15th March.
What is the MCON Rasayan IPO’s listing date?
The The MCON Rasayan IPO will be listed on 20th March.
What is the lot size and investment required for the MCON Rasayan IPO?
The MCON Rasayan IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).
What is the objective of the MCON Rasayan?
The net proceeds from the issue will be used for:
• Funding the working capital requirements of the company
• General Corporate Purposes
How to apply for the MCON Rasayan IPO?
To apply for the IPO, follow the steps given below
• Login to your 5paisa account and select the issue in the current IPO section
• Enter the number of lots and price at which you wish to apply for
• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
• You will receive a mandate notification to block funds in your UPI app
Who are the promoters/key personnels of MCON Rasayan IPO?
MCON Rasayan IPO is promoted by Mahesh Ravji Bhanushali.
Who are the book runners for MCON Rasayan IPO?
GYR Capital Advisors Limited is the book running lead managers to the issue.
Contact Details of MCON Rasayan India IPO
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 India IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: mconrasayan.ipo@linkintime.co.in
Website: https://linkintime.co.in/
MCON Rasayan India IPO Lead Manager
GYR Capital Advisors Limited