Mitsu Chem Plast IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 18, 2022Mitsu Chem Plast Limited is a packaging solutions provider working in the segment for decades and has attained immense growth and success in with its quality products and services.
The company is now all set to take a step forward by listing its shares among the top company from varied industries. Mitsu Chem Plast Limited is bringing an all Fresh Share Issue IPO.
The entity is planning the public offer to mop up funds of up to Rs. 125 crores.
| Face Value | Rs 10 |
| Price Band | Rs.X to Rs.X |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
Mitsu Chem Plast IPO Overview
Mitsu Chem Plast IPO is the first public issue of the company where it is offering Equity Shares via Fresh Issue. The packaging solutions provider will be raising 125 crores from the IPO for paying its debts and funding the working capital requirements.
The company is not looking for any type of pre-IPO placement by way of private placement, preferential allotment.
Mitsu Chem Plast IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Important Mitsu Chem Plast IPO Dates like opening and closing dates, listing date, allotment date and subscription period will be declared by the company post approval of its DRHP.
The company filed the DRHP papers with the capital market regulator SEBI in early July only. The company will undertake further IPO steps after obtaining the observation letter.
Choosing the right IPO dates play an important role in the success of an IPO and every company pays due attention while selecting it.
Mitsu Chem Plast IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs.X to Rs.X |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
Mitsu Chem Plast IPO Size will consist of the Equity Shares offer made by the company. The Mitsu Chem Plast IPO Price will be determined by company in consultation with the Lead Managers through the Book Building Process.
The face value of the shares is Rs. 10 each. The offered equity shares are proposed to be listed on BSE and NSE.
Mitsu Chem Plast IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
Grey Market Premium is the share price at which the shares are bid and offered in the Grey Market. The trading takes place before the listing on the stock exchange.
Grey Market allows traders to trade in the shares of a company before their listing.
Mitsu Chem Plast IPO GMP will be available after the IPO dates are fixed.
Mitsu Chem IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – | |||||
| 2nd Day – | |||||
| 3rd Day – | |||||
| Shares Offered or Net Issue |
Mitsu Chem Plast IPO Subscription process will be updated soon. The subscription date and period has not been determined by the company.
The IPO will be reserved for various categories of investors in the following manner:
- For Qualified Institutional Buyers, 50% of the net offer will be reserved,
- For Non-Institutional Bidders, not less than 15% of the shares will be reserved,
- For Retail individual bidder, 35% of the offer will be reserved.
Mitsu Chem Plast IPO Allotment Status
The basis of Mitsu Chem Plast IPO Allotment will be finalized after the subscription has been completed. The company will determine the price of the shares and make the allotment of shares to the successful bidders accordingly.
The Equity Shares will be credited to the Demat accounts of investors whose applications have been accepted and will be required to refund the application money to the rest of the bidders within the stipulated time frame given by SEBI in this regard.
Mitsu Chem Plast IPO Live Performance
A good investment decision always brings smile on investors face. Make your right choice with full information on Mitsu Chem Plast IPO Performance and Mitsu Chem Plast IPO Price.
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Mitsu Chem Plast – Company Review
Mitsu Chem Plast was founded in 1988 as a private limited company, Mitsu Chem Private Limited in Mumbai, Maharashtra. Thereafter, in order to widen its sphere, the company changed its name to Mitsu Chem Plast Private Limited in 2016. Also, during the same year, it was converted to a public limited company.
Mitsu Chem Plast is a leading manufacturer of plastic Blow Molded and Injection Molded products in India. It has gained high expertise with all these years of experience and with the support of up-top technological equipments and advancements.
Mitsu Chem Plast has expanded its product portfolio as well area of operations to higher level in diverse segments. They cater to sectors like healthcare & hospital, and infrastructural furniture.
Products or Services
Mitsu Chem Plast Limited is a highlighted name in the industry for the quality work they deliver and satisfaction of their customers.
The company delivers its products under the following categories:
- Automotive Components
- Molded Industrial Components
- Healthcare furniture
- Infrastructural Furniture
The company’s operations are not only limited to the domestic boundaries, but it has high export demands too for its products.
Some of the products to name manufactured by the company are Jerry Cans, Narrow Mouth Drums, Full open top drum, large range of small containers, injection molded solutions, agro chemical products, ABS Panel Manufacturers, other Healthcare plastic parts, plastic chair shells, bus seats, and other items applied in various segments.
Promoters and Holding
The Promoters of Mitsu Chem Plast Limited are:
- Jagdish Dedhia
- Sanjay Dedhia
- Manish Dedhia
The management of the company consists of:
- Jagdish Dedhia, in the position of Chairman & Whole-time Director
- Sanjay Dedhia, in the position of Joint Managing Director
- Manish Dedhia, in the position of Joint Managing Director and Chief Financial Officer
- Dilip Gosar, in the position of Independent Director
- Neha Huddar, in the position of Independent Director
- Hasmukh Dedhia, in the position of Independent Director
- Drishti Thakker, in the position of Company Secretary and Compliance Officer
Is Mitsu Chem Plast good for Investment?
The product portfolio of Mitsu Chem Plast Limited is extensive and caters to diverse entities and segments. This diversification offers immense opportunities for the company in terms of high revenue and growth in every dimension.
The company took off its operations from 1988 and now, it has marked presence for over three decades. It has set strong foot in the Indian and also has erupted in international market with exports of some of its goods.
Today, they are selling 100s of products in different categories and is continuously adding new products to cater the market needs.
Mitsu Chem Plast Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Assets | 14,408.94 | 12,457.18 | 10,757.19 |
| Revenue | 25,886.49 | 17,944.69 | 13,886.72 |
| Expense | 24,245.53 | 16,564.63 | 13,304.94 |
| Profit After Tax | 1,149.99 | 968.80 | 397.51 |
Now, let’s study the financial aspect of Mitsu Chem Plast Limited to have a clear understanding of company’s factual standings.
During the past three financial years, the company has posted profits. So, we can say that it is a profit making having potential to reap high return for investors.
The revenue from operations and other sources of this company in the years 2022, 2021, and 2020 were – Rs. 25,886.49 lakhs, Rs. 17,944.69 lakhs, and Rs. 13,886.72 lakhs, respectively.
As of the profits, as you can see in the table that the profits figures have higher and higher with every year from Rs. 397.51 lakhs as on 31st March 2020 to Rs. 1,149.99 lakhs as on 31st March 2022.
Along with the operational growth, the company’s EPS has also grown over the years. Mitsu Chem Plast reported an EPS of Rs. 9.53 at the end of financial year 2021-22.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Basic & Diluted | 9.53 | 8.02 | 8.02 |
Mitsu Chem Plast IPO Review
Mitsu Chem Plast IPO is entirely a Fresh Issue. None of the promoters of other shareholders are looking for a partial or full exit from the company through share sale.
The company is aiming to raise Rs. 125 crores from the IPO and is looking forward towards the listing on the mainline exchanges.
Mitsu Chem Plast will be putting the IPO proceeds for repaying the outstanding debts, fund its working capital requirements and for other general purposes. The financial records of the company do interpret a positive sight of the company.
The IPO will help the company lower its liabilities and attain a better ratio between its assets and liability.
Mitsu Chem Plast IPO Details
Here are few more details you need to know before investing in Mitsu Chem Plast IPO –
Mitsu Chem Plast IPO Issue Object
The Mitsu Chem Plast has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment/pre-payment, in full or part, of certain borrowings availed by our Company;
- Funding working capital requirements of our Company; and
- General corporate purposes.
Mitsu Chem Plast 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:
- Diverse customer base
- Comprehensive product portfolio
- Product design & development
- Strategic location of manufacturing units
- Quality Standard Certifications & Quality Tests
- Experienced Promoters and senior management team
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 9.53 | 22.59 | 42.18 |
| 31-Mar-21 | 8.02 | 24.43 | – |
| Mar-20 | 3.29 | 13.17 | – |
Mitsu Chem Plast IPO Lead Managers
Here are the list of Lead manager –
- IDBI Capital Markets & Securities Limited
Mitsu Chem Plast IPO Registrar to offer
Check out the details of the registrar here –
Bigshare Services Private Limited
Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre
Mahakali Caves Road,
Andheri (East), Mumbai – 400 093. Maharashtra, India
Telephone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Investor grievance email: investor@bigshareonline.com
Website: www.bigshareonline.com
Contact Person: Babu Rapheal
SEBI Registration No.: INR000001385
Mitsu Chem Plast IPO – Other Details
- Statutory Auditor – M/s. Gokhale & Sathe
- Legal Counsel to the Company – Desai & Diwanji
- Bankers to the Company – Kotak Mahindra Bank Limited, CitiBank NA and Small Industries Development Bank of India
Mitsu Chem Plast IPO – Conclusion
The Mitsu Chem Plast IPO does not have any Offer for Sale. It is entirely a Fresh Issue of Equity Shares. The company is raising funds and its shares will be listed on BSE and NSE. The company has competitive strength with its large portfolio and hold on exports. The operations of the company are growing and it is entering into new business spheres.
The investment in Mitsu Chem Plast IPO con be considered from the aspect of its positive EPS, continuous profits, and operational level. Investors should consider and critically examine the growth and risk factors associated with the company and thereafter arrive at an investment decision.
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Mitsu Chem Plast IPO Review FAQs
Check out the FAQs on Mitsu Chem Plast IPO –
What is the Issue Size of Mitsu Chem Plast IPO?
The Company is making an initial public offer of NA 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 Mitsu Chem IPO?
The price band for this particular IPO ranges between Rs.X to Rs.X. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Mitsu Chem Plast IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Mitsu Chem IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Mitsu Chem Plast IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Mitsu Chem IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Mitsu Chem Plast IPO?
Here are the promoters of this IPO – Jagdish Dedhia, Sanjay Dedhia and Manish Dedhia. 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 Mitsu Chem Plast IPO?
They have obtained the GMP of this IPO and it is Rs.X. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Mitsu Chem Plast 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 Mitsu Chem Plast Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2022 in Million is 1,149.99, 2021 is 968.80, 2020 is 397.51.
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