The MCON Rasayan India IPO date has been confirmed from March 6 and ended on March 10 .
The MCON Rasayan IPO is a fresh issue of 17.1 lakh shares with a fixed price of Rs 6.84 crores. Bidding for the IPO began on March 6, 2023 and concluded on March 10, 2023. The allotment for the MCON Rasayan IPO was completed on Wednesday, March 15, 2023. The shares were subsequently listed on the NSE SME on March 20, 2023.
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Bidding Dates
March 6 – 10, 2023
Price Range
₹40 per share
Face Value
₹10 per share
GMP
₹ 14
MCON Rasayan India IPO GMP
The MCON Rasayan India IPO IPO GMP is ₹[ 14 ].
IPO Overview
The IPO price for MCON Rasayan is set at ₹40 per share. Retail investors are required to invest a minimum amount of ₹120,000, with a minimum lot size of 3000 shares for their application. On the other hand, High Net Worth Individuals (HNIs) need to invest in 2 lots, which amounts to 6,000 shares, with a minimum investment of ₹240,000.
Established in 2016, MCON Rasayan India Limited operates as a manufacturer, marketer, and distributor of contemporary building materials and construction chemicals. With an extensive portfolio of over 80 products, the company offers a diverse range of construction materials and chemicals available in both powder and liquid formats.
MCON Rasayan India IPO Date & Price Band Details
| IPO Date | March 6, 2023 to March 10, 2023 |
| Listing Date | March 20, 2023 |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,710,000 shares (aggregating up to ₹6.84 Cr) |
| Fresh Issue | 1,710,000 shares (aggregating up to ₹6.84 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 90,000 shares |
MCON Rasayan India IPO Market Lot
The minimum requirement for investors to bid is 3000 shares, and they can bid in multiples of this amount. The table below illustrates the minimum and maximum investment for both retail investors and high net worth individuals (HNI) in terms of shares and monetary value.
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
MCON Rasayan India IPO Allotment and Listing Dates
| IPO Open Date | Monday, March 6, 2023 |
| IPO Close Date | Friday, March 10, 2023 |
| Basis of Allotment | Wednesday, March 15, 2023 |
| Initiation of Refunds | Thursday, March 16, 2023 |
| Credit of Shares to Demat | Friday, March 17, 2023 |
| Listing Date | Monday, March 20, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 10, 2023 |
Company Profile
Established in 2016, MCON Rasayan India Limited operates in the field of manufacturing, promoting, and distributing contemporary construction materials and construction chemicals. The company offers a diverse range of over 80 products, including construction materials and construction chemicals in both powder and liquid forms. The powder products manufactured by the company consist of Ready mix plaster, Tile adhesives, Block adhesives, Wall putty, Micro concrete & polymer mortar, Engineering non-shrink grouts, and Floor hardeners. On the other hand, the liquid form products include Poly-urethane (PU) based liquid membrane, Bonding agents, Paints, Anti-corrosive coatings, Concrete admixtures, and Curing compounds.
All the products of MCON Rasayan India Limited are marketed under the brand name “MCON”. The company operates two manufacturing plants located in Valsad and Navsari, Gujarat. The Valsad plant, situated in GIDC Sarigam, primarily focuses on the production of admixtures, wall putty, tile adhesives, paints, concrete repair systems, and waterproofing systems. It has a production capacity of 2,500 MTPA. On the other hand, the Navsari plant specializes in the manufacturing of readymix mortars, block adhesives, and tile adhesives, with a production capacity of 12,500 MTPA.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91-22-4918 6270 |
| Email ID | mconrasayan.ipo@linkintime.co.in |
| Website | https://www.linkintime.co.in/mipo/ipoallotment.html |
Contact Details
| Name | MCON Rasayan India Limited |
| Phone number | +91 86559 88698 |
| Email ID | compliance@mconrasayan.com |
| Website | https://www.mconrasayan.com/ |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
