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Let’s have a detailed review of the company and analytics of the MCON Rasayan IPO release date, IPO offer price, subscription, MCON Rasayan Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face Value Rs 10
Price Band Rs 40
Listing At NSE, SME
Min. Order Quantity 3000 Shares
Listing Date Mar 20, 2023
Offer for Sale Rs Lakh
Fresh Issue Rs 684 Lakh
IPO Size Rs 684 Lakh
Tick Size 1

MCON Rasayan IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.

Live Performance – MCON Rasayan Share Price

MCON Rasayan IPO – Summary

They are 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.

Their 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 Promoter of this company is Mahesh Ravji Bhanushali. The lead manager to the issue is GYR Capital Advisors Private Limited, and the Registrar to this issue is Link Intime India Private Limited.

MCON Rasayan IPO Date

The opening and closing dates of MCON Rasayan IPO are Mar 6, 2023 and Mar 10, 2023 respectively.

MCON Rasayan IPO Subscription

Day / Date Other RII Total Subscription
1st Day – 6th Mar 16.23x 32.71x 24.47x
2nd Day –  8th Mar 33.03x 115.87x 74.45x
3rd Day – 9th Mar 72.04x 241.77x 157.91x
4th Day – 10th Mar 307.09x 453.41x 384.64x
Shares Offered or Net Issue 810,000 810,000 1,620,000

The shares subscribed by the public will be updated here.

MCON Rasayan IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

MCON Rasayan Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization Mar 15, 2023
Refunds Initiation Mar 16, 2023
Credit of Shares to Demat Account Mar 17, 2023
Share Listing Date Mar 20, 2023

MCON Rasayan IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.40

MCON Rasayan IPO Equity Size

This Initial Public Issue of 1,710,000 Equity Shares of Rs.10 each for cash at a price of Rs.40 per equity share aggregating to Rs.684 Lakh.

MCON Rasayan IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 1,710,000 Equity Shares of Rs.10/ each.

Issue Size: 1,710,000 Equity Shares of Rs.10 each, aggregating to Rs.684 Lakh

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    MCON Rasayan IPO – Live Performance

    The listing date of this IPO is Mar 20, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – MCON Rasayan Share Price

    MCON Rasayan IPO Grey Market Premium

    The MCON Rasayan Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X. 

    MCON Rasayan IPO – Company Overview

    Their liquid portfolio having products such as poly-urethane (PU) based liquid membrane, bonding agents, paints, anti-corrosive coatings, concrete admixtures and curing compounds.

    Their products are marketed and sold under the “MCON” brand. They have 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.

    The other plant at Chikli, Navsari, Gujarat mainly manufactures readymix mortars, block adhesives and tile adhesives and has an installed capacity of 12,500 MTPA. Their third plant is a greenfield project under-construction at Ambethi, Valsad and is expected to be operational by the end of FY 2023.

    The 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. Their manufacturing plants are situated at Valsad being the border of Maharashtra and Gujarat which is strategic location with respect to serving the western regional markets of the country

    MCON Rasayan IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Lakh)
    30-Sep-22 31-Mar-22 Mar-21 31-Mar-20
    Total Assets 1,777.53 1,446.31 831.81 776.02
    *Total Revenue 1,304.67 1,922.36 899.78 896.95
    Total Expense 1,188.98 1,862.53 874.50 891.74
    Profit After Tax 85.64 44.40 18.68 3.61

    Earnings per Equity Share (in Lakh)

    30-Sep-22 31-Mar-22 Mar-21 31-Mar-20
    Basic & Diluted 5.48 2.96 1.84 0.64

    Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 85.64 Lakh, Rs. 44.40 Lakh, Rs. 18.68 Lakh and Rs. 3.61 Lakh respectively.

    MCON Rasayan IPO – Promoters

    The Promoter of this company is:

    1. Mahesh Ravji Bhanushali

    List of Related Parties (Key Managerial Personnel)

    • Mahesh Ravji Bhanushali, Chairman and Managing Director
    • Puja Mahesh Bhanushali, Non-Executive Director
    • Chetan Ravji Bhanushali, Whole-time Director
    • Nandan Dilip Pradhan, Whole-time Director
    • Tapas Bimal Majumdar, Independent Director
    • Dilip Mangilal Jain, Independent Director

    MCON Rasayan IPO – Promoters Holding

    • Pre-Issue Share Holding – 91.45%
    • Post Issue Share Holding – 66.64%

    MCON Rasayan IPO Offer Details or Issue Details

     Particulars  No. Of Equity Shares
     Equity Shares Offered  Up to 17,10,000 Equity Shares aggregating up to Rs.684 Lakh
    of which:
    Issue Reserved for the Market Makers Up to 90,000 Equity Shares aggregating up to Rs.36 Lakh
    Net Issue to the Public Up to 16,20,000 Equity Shares aggregating up to Rs.648 Lakh
    Of which:
    Retail Investors Portion Not less than 8,10,000 Equity Shares
    Other than Retail Individual Investors Not more than 8,10,000 Equity Shares
     Equity Shares outstanding prior to the Issue 45,93,750 Equity Shares
     Equity Shares outstanding after the Issue 63,03,750 Equity Shares

    MCON Rasayan IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. Funding the working capital requirements of the company
    2. General Corporate Purposes

    MCON Rasayan IPO – Business Strategy

    • Greenfield project for increasing their manufacturing capacity near Ambethi, Valsad, Gujarat.
    • Further developing their institutional sales business.
    • Geographical expansion of their distribution network.
    • Enhancing the visibility and reach of their brand “MCON”.
    • Expanding their sales and distribution network.
    • Improve operational efficiency and continue to implement measures to reduce costs.

    MCON Rasayan IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Experienced Management team having domain knowledge to scale up and expand into new opportunities;
    • Wide product portfolio addressing the needs of varied customers across the industry;
    • Dedicated technical & functional team to provide solutions to their customers;
    • Extensive Sales and distribution network;
    • Experience of handling large & complex projects;
    • Multi-year relationships with most customers;
    • Improving operational efficiency

    The relevant quantitative factors are:

    Basic & Diluted EPS RONW (%) NAV (Rs.)
    31-Mar-22 2.96 20.06 14.75
    31-Mar-21 1.84 10.47
    Mar-20 0.64 3.26

    MCON Rasayan IPO: Competitive Peers

    Face Value (Rs.) P/E EPS  (Rs.) Return on Net Worth (%) Total Income (Rs. in Crores)
    MCON Rasayan Limited 10 7.30 5.48 18.74% 13.05
    Listed Peers
    Asian Paints Limited 1 149.67 18.76 13.19% 15,161.52
    Pidilite Industries Limited 1 171.70 13.50 10.43% 5,543.97
    Kansai Nerolac Paints Limited 1 82.43 5.01 6.54% 3766.76

    MCON Rasayan IPO Lead Managers

    Lead Managers
    GYR Capital Advisors Private Limited
    428, Gala Empire, Near JB Tower,
    Drive in Road, Thaltej,
    Ahemdabad-380 054,
    Gujarat, India.
    Telephone: +91 8777564648
    E-mail Id: info@gyrcapitaladvisors.com
    Website: www.gyrcapitaladvisors.com
    Investor Grievance E-mail ID: investors@gyrcapitaladvisors.com
    Contact Person: Mohit Baid
    SEBIRegistrationNumber: INM000012810
    CIN: U67200GJ2017PTC096908

    MCON Rasayan IPO Registrar to offer

    Registrar to the Offer
    Link Intime India Private Limited
    C-101, 1st Floor, 247 Park, Lal Bhadur Shastri Marg
    Vikhroli (West), Mumbai 400 083
    Maharashtra, India
    Telephone: +91 810 811 4949
    E-mail Id: mconrasayan.ipo@linkintime.co.in
    Website: www.linkintime.co.in
    Investor Grievance E-mail ID: mconrasayan.ipo@linkintime.co.in
    Contact Person: Shanti Gopalkrishnan
    SEBI Registration Number: INR000004058
    CIN No: U67190MH1999PTC118368

    MCON Rasayan IPO – Other Details

    • Statutory Auditor – M/s. Devang Kumar Dand & Associates, Chartered Accountants
    • Legal Counsel to the Company – Desai & Diwanji (MSME Division)
    • Bankers to the Company –  ICICI Bank Limited

    MCON Rasayan IPO Review by Stock Brokers

    Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
    Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
    Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
    Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
    ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
    IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
    Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
    Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
    5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
    Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
    Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10


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      MCON Rasayan Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download

      MCON Rasayan IPO Review FAQs

      Check out various FAQs related to MCON Rasayan IPO:

      What is the Issue Size of MCON Rasayan IPO?

      The Company is making an initial public offer of 1,710,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      What is the Price band of MCON Rasayan IPO?

      The price band for this particular IPO ranges between Rs 40. As far as the face value of the share is of concern, it is Rs.NA per share.

      What is the MCON Rasayan IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 6, 2023, while the closing date is set at Mar 10, 2023.

      What is the MCON Rasayan IPO Allotment Date?

      They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Mar 15, 2023, refund initiation is on Mar 16, 2023, credit of shares is on Mar 17, 2023, and share listing date is on Mar 20, 2023.

      What is the MCON Rasayan IPO Listing Date?

      Shares of this company shall be listed in the exchanges Mar 20, 2023. The date, when the listing would be done, is stagnant on Mar 20, 2023.

      Who is the Registrar of MCON Rasayan IPO?

      One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Ltd. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of MCON Rasayan?

      Here are the promoters of this IPO – Mahesh Ravji Bhanushali. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      What is the GMP of MCON Rasayan IPO?

      They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.

      Is MCON Rasayan IPO good for Investment?

      They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      What is the PAT of MCON Rasayan Company?

      They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 44.40, 2021 is 18.68, and 2020 is 3.61. PAT from Sep 2022 is 85.64.

      Calculate your return on investment!

      Asset Class ROI (Rs.) Profit (Rs.) Profit (%)
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