The Madhusudan Masala IPO commenced on September 18, 2023, and concluded on September 21, 2023. The allotment of shares took place on September 26, 2023, and the initiation of refunds began on September 27, 2023. The shares were credited to the demat accounts of investors on September 29, 2023. Finally, the listing of Madhusudan Masala on the stock exchange occurred on October 3, 2023.
The Madhusudan Masala IPO was priced at ₹66 to ₹70 per share, with a lot size of 2000 share . The total issue size was ₹23.80 crores, comprising a fresh issue of ₹23.80 crores. The IPO was listed on the NSE SME.
In terms of quota reservations, the Other quota was reserved for 50% of the shares and the retail quota was reserved for 50% of the shares.
Madhusudan Masala IPO Basic Details
|Company Name||Madhusudan Masala Limited|
|Domain of Company||Manufacturing and Processing of Spices|
|Madhusudan Masala IPO GMP Today||₹59|
|Madhusudan Masala IPO Listing Gain||84.29%|
|Madhusudan Masala IPO Open Date||September 18, 2023|
|Madhusudan Masala IPO Close Date||September 21, 2023|
|Madhusudan Masala IPO Allotment Date||September 26, 2023|
|Madhusudan Masala IPO Listing Date||October 3, 2023|
|Face Value||₹10 per share|
|Price||₹66 to ₹70 per share|
|Lot Size||2000 Shares|
|Issue Size||3,400,000 shares of ₹10|
(aggregating up to ₹23.80 Cr)
|Fresh Issue||3,400,000 shares of ₹10|
(aggregating up to ₹23.80 Cr)
|Issue Type||Book Built Issue IPO|
|Listing At||NSE SME|
|Company Promoters||Mr. Dayalji Vanravan Kotecha,|
Mr. Vijaykumar Vanravan Kotecha,
Mr. Rishit Dayalaji Kotecha, and
Mr. Hiren Vijaykumar Kotecha
Madhusudan Masala IPO GMP Today:
|Date||GMP||Listing Gain||Kostak||Subject to|
|21 September 2023||₹59||84.29%||–||–|
|20 September 2023||₹59||84.29%||–||–|
|19 September 2023||₹59||84.29%||–||–|
|18 September 2023||₹59||84.29%||–||–|
|17 September 2023||₹59||84.29%||–||–|
Madhusudan IPO Details:
Madhusudan Masala Limited is a company that makes and processes over 32 different types of spices. They sell these spices under the brand names “DOUBLE HATHI” and “MAHARAJA.”
In addition to spices, the company also sells other grocery products like Rajgira flour, Papad, Soya Products, Asafoetida (Hing), Achar masala (ready-to-make pickle powder), Sanchar (Black salt powder), Sindhalu (Rock salt powder), Katlu powder (food supplement), Kasuri Methi (Dry fenugreek), and more, all under the brand name “DOUBLE HATHI.” They also sell whole spices, papad, soya products, Asafoetida (Hing), black salt, rock salt, etc., both in small and large quantities. These products are sourced from third-party manufacturers and packaged under the “DOUBLE HATHI” brand.
Madhusudan Masala specializes in two main product categories:
- Ground spices: This includes various types of spice powders like Chilli Powder, Turmeric Powder, Coriander Powder, and Coriander Cumin Powder.
- Blend Spices: This category features blends like Garam Masala, Tea Masala, Chhole Masala, Sambhar Masala, Pav Bhaji Masala, Pani Puri Masala, Sabji Masala, Kitchen King Masala, Chicken Masala, Meat Masala, Chatpata Chat Masala, Butter Milk Masala, Chewda Masala, Dry Ginger Powder (Sunth), Black Pepper Powder (Mari), Dry Mango Powder (Aamchur), and more.
Madhusudan Masala’s manufacturing facility is situated in the Industrial Area Hapa, near Jamnagar. They hold several certifications, including ISO 9001:2015 for quality management, ISO 22000:2018 for Food Safety Management, HACCP for Hazard Analysis Critical Control Points, and an FSSAI license under the Food Safety and Standards Act of 2006.
In terms of revenue, the company earned Rs. 12,721.60 Lacs in fiscal year 2023, Rs. 6,540.81 Lacs in 2022, and Rs. 6,868.03 Lacs in 2021 from their operations.
Madhusudan Masala IPO More Details Click Here
Madhusudan Masala IPO FAQs
When is Madhusudan Masala IPO open?
Madhusudan Masala IPO will open on 18 September 2023.
When is Madhusudan Masala IPO Close?
Madhusudan Masala IPO will be closed on 21 September 2023.
What is Madhusudan Masala IPO GMP Today?
The Madhusudan Masala IPO GMP aka Grey Market Premium is ₹59.
What is Madhusudan Masala IPO Kostak Rates Today?
The Madhusudan Masala IPO Kostak Rate is ₹000.
What is Madhusudan Masala IPO Subject to Sauda Price Today?
The Madhusudan Masala IPO subject to sauda rates is ₹000.
Madhusudan Masala IPO Expected Returns?
The Madhusudan Masala expected return is 84.29%.
How much will be the listing gain in Madhusudan Masala IPO?
Madhusudan Masala IPO will get listing gain of 84.29%. (Approx.)