MCON Rasayan IPO Details ( MCON Rasayan Limited IPO Review )
(06 Mar 2023 – 10 Mar 2023)
MCON Rasayan India Limited, established in 2016, operates within the modern building materials and construction chemicals industry, manufacturing, marketing, and distributing their products. The company offers over 80 products, including construction materials and construction chemicals in both liquid and powder forms.
The company’s powder-based products consist of Ready mix plaster, Tile adhesives, Block adhesives, Wall putty, Micro concrete & polymer mortar, Engineering non-shrink grouts, and Floor hardeners.
The company’s liquid-based products include Poly-urethane (PU) based liquid membrane, Bonding agents, Paints, Anti-corrosive coatings, Concrete admixtures, and Curing compounds.
“MCON” is the brand label under which the products of MCON Rasayan India Limited are marketed.
MCON Rasayan India Limited operates two manufacturing plants in Gujarat, located in Valsad and Navsari. The Valsad plant, situated in GIDC Sarigam, mainly produces admixtures, wall putty, tile adhesives, paints, concrete repair systems, and waterproofing systems, with a production capacity of 2,500 MTPA. The Navsari plant specializes in readymix mortars, block adhesives, and tile adhesives, with a production capacity of 12,500 MTPA.
MCON Rasayan India Limited’s top 10 products include 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 India Company Product:
- Admixtures
- Tile Adhesives & Tile Grouts
- Waterproofing Systems
- Wall Finishing Products
- Readymix Mortars
- Concrete Repairs
- Industrial Flooring
- Engineering Grouts
- Anti-Corrosive Systems
MCON Rasayan IPO Competitive Strength
- Comprehensive product portfolio
- Diverse customer base
- In-house research and development of products
- Strategic location of manufacturing units
- Quality Standard Certifications & Quality Tests
- Experienced Promoter and senior management team
MCON Rasayan IPO Financials Performance ( Results )
MCON Rasayan Limited Financial Information ( Restated )
All Amount in ₹ Lakhs
| Period Ended | Total Assets | Total Revenue | PAT | EPS | Net Worth | NAV | Reserves | Borrowing |
| 31-Mar-20 | 776.02 | 896.95 | 3.61 | 0.32 | 110.72 | – | 9.72 | 321.61 |
| 31-Mar-21 | 831.81 | 899.78 | 18.68 | 1.25 | 178.40 | – | 28.40 | 346.58 |
| 31-Mar-22 | 1,446.31 | 1,922.36 | 44.40 | 2.96 | 221.29 | 14.75 | 71.29 | 740.85 |
| 30-Jun-22 | 1,550.95 | 654.28 | 23.47 | 1.56 | 244.76 | 16.32 | 94.76 | 752.33 |
Objective of IPO Issue
- Funding the working capital requirements of the company
- General Corporate Purposes
MCON Rasayan IPO Basic Details
| IPO Date | Mar 06, 2023 to Mar 10, 2023 |
| Listing Date | Monday, March 20, 2023 |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Issue Size | 1,710,000 shares of ₹10 (aggregating up to ₹6.84 Cr) |
| Fresh Issue | 1,710,000 shares of ₹10 (aggregating up to ₹6.84 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the Offer |
| Retail Shares Offered | 50% of the Offer |
| Company Promoters | Mahesh Ravji Bhanushali is the Promoter of the Company. |
MCON Rasayan IPO Timetable
MCON Rasayan IPO will open on Mar 06, 2023 and close on Mar 10, 2023. You can join MCON Rasayan IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | Mar 06, 2023 |
| Closing Date | Mar 10, 2023 |
| Basis of Allotment | Mar 15, 2023 |
| Initiation of Refunds | Mar 16, 2023 |
| Credit of Shares to Demat | Mar 17, 2023 |
| Listing Date | Mar 20, 2023 |
MCON Rasayan IPO Lot Size
For retail investors in MCON Rasayan IPO, 3000 shares will come in 1 lot or the minimum investment will be ₹120,000. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹120,000.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| S-HNI (Min) | 2 | 6000 | ₹240,000 |
MCON Rasayan IPO Promoter Holding
| Pre Issue Share Holding | 91.45% |
| Post Issue Share Holding |
MCON Rasayan IPO Valuation – FY2022
| Earning Per Share (EPS) | ₹1.57 per Equity Share |
| Price/Earning P/E Ratio | – |
| Return on Net Worth (RoNW) | 9.59% |
| Net Asset Value (NAV) | ₹16.31 per Equity Share |
| Upper Price/Book Value (Price/BV) Ratio | – |
MCON Rasayan Ltd Peer Comparison
| Company Name | CPM | Face Value | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | P/BV Ratio |
| MCON Rasayan India Limited | – | 10 | 1.57 | – | 9.59% | 16.31 | – |
| Asian Paints Limited | 3070.95 | 1 | 18.57 | 165.37 | 13.19% | 142.37 | 19.6 |
| Pidilite Industries Limited | 2655.75 | 1 | 13.19 | 201.34 | 10.43% | 128.12 | 19.5 |
| Kansai Nerolac Paints Limited | 443.40 | 1 | 5.20 | 85.27 | 6.54% | 81.61 | 5.62 |
MCON Rasayan IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| 16 March 2023 | ₹18 | – | – |
| 15 March 2023 | ₹17 | – | – |
| 14 March 2023 | ₹20 | – | – |
| 13 March 2023 | ₹22 | – | – |
| 12 March 2023 | ₹22 | – | – |
| 11 March 2023 | ₹23 | – | – |
| 10 March 2023 | ₹24 | – | – |
| 09 March 2023 | ₹25 | – | – |
| 08 March 2023 | ₹26 | – | – |
| 07 March 2023 | ₹23 | – | – |
| 06 March 2023 | ₹23 | – | – |
| 05 March 2023 | ₹26 | – | – |
| 04 March 2023 | ₹26 | – | – |
| 03 March 2023 | ₹25 | – | – |
| 02 March 2023 | ₹27 | – | – |
| 01 March 2023 | ₹30 | – | – |
| 28 February 2023 | ₹29 | – | – |
| 27 February 2023 | ₹28 | – | – |
| 26 February 2023 | ₹0 | – | – |
| 25 February 2023 | ₹0 | – | – |
MCON Rasayan IPO Detail Video:
MCON Rasayan IPO Subscription Status (Bidding Detail)
The MCON Rasayan IPO on Mar 10, 2023 at 7:00:00 PM was subscribed 384.64 times, with the retail category being subscribed 453.41 times, the NII (Non-Institutional Investor) category being subscribed 307.09 times.
| Category | Subscription |
| NII | 307.09x |
| Retail | 453.41x |
| Total | 384.64x |
MCON Rasayan IPO Prospectus
MCON Rasayan IPO Rating
| Our Rating | 3.5/5.0 |
MCON Rasayan Compnay Contact Information
MCON RASAYAN INDIA LIMITED
Registered Office: 101/A, 1st floor, Maxheal House, Plot-169, CTS-104 Bangur Nagar,
Goregaon West, Near Ayyappa Temple, Mumbai- 400090, Maharashtra, India.
Tel: +91 8655988698
Website: www.mconrasayan.com
Contact Person: Mr. Kunal Ashok Borkar, Company Secretary and Compliance Officer
E-mail id: compliance@mconrasayan.com
Corporate Identity Number: U24304MH2016PLC286140
OUR PROMOTER: MAHESH RAVJI BHANUSHALI
MCON Rasayan IPO Registrar
Link Intime India Private Limited
Registered Office: 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 Lead Manager
GYR Capital Advisors Private Limited
Registered Office: 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
SEBI Registration Number: INM000012810
CIN: U67200GJ2017PTC096908
MCON Rasayan IPO FAQs
What is the lot size of MCON Rasayan IPO?
The total size of MCON Rasayan IPO is ₹6.84 crores and this is a complete fresh Issue.
When will MCON Rasayan IPO start?
MCON Rasayan IPO will Open from 06 March 2023 and IPO will Close on 10 March 2023.
What is the open date of MCON Rasayan IPO?
MCON Rasayan IPO will start from 06 March 2023.
What is the last date ( close date ) of MCON Rasayan IPO?
MCON Rasayan IPO will close from 10 March 2023.
What is the price band of MCON Rasayan IPO?
MCON Rasayan IPO Price Band is ₹40.
What is the minimum amount required to apply for MCON Rasayan IPO?
The minimum investment for retailers to apply for MCON Rasayan IPO is ₹120,000 and the maximum investment is ₹120,000.
What is going on gray market premium of MCON Rasayan IPO?
View gray market premium of MCON Rasayan IPO by Clicking Here
How much is the GMP of MCON Rasayan IPO?
Watch MCON Rasayan IPO GMP Today: Click Here
What is the allotment date of MCON Rasayan IPO?
The allotment date of MCON Rasayan IPO is 15 March 2023.
How to check allotment status in MCON Rasayan IPO?
To check the allotment status of MCON Rasayan IPO, first of all go to the registrar website by clicking here, select your bad MCON Rasayan IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of MCON Rasayan IPO?
The listing date of MCON Rasayan IPO is 20 March 2023.
How much will be the listing gain in MCON Rasayan IPO?
View listing gain of MCON Rasayan IPO by Clicking Here
How much time MCON Rasayan IPO is subscribed?
Total 384.64 times subscribed in MCON Rasayan IPO out of which 453.41 times subscription was done in retail quota and 307.09 times subscription in NII quota.
How to apply for MCON Rasayan IPO from Upstox?
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How to apply for MCON Rasayan IPO from Zerodha?
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How to apply for MCON Rasayan IPO from Angle One?
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