MCON Rasayan IPO receives bids for 62,31,09,000 shares on Friday; it got 36,72,60,000 subscriptions in the retail category and 24,87,42,000 in the NII category
MCON Rasayan India Ltd’s IPO, whose public subscription commenced on Friday, March 10, will see its listing on the NSE SME on March 20. The SME IPO received 62.31 subscriptions till the end of Friday, the last day of bidding. Check its GMP, quota-wise subscription and listing date, among others:
MCON Rasayan India IPO: Grey Market Premium
Currently, the grey market premium (GMP) for MCON Rasayan’s unlisted shares stands at Rs 20, according to market watchers. As per this, the projected listing price for the MCON Rasayan India SME IPO is Rs 60, compared with the price band of 40.
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MCON Rasayan India IPO Listing
MCON Rasayan India will see its listing on the NSE SME on March 20. The lead manager for the MCON Rasayan India SME IPO is GYR Capital Advisors Private Ltd.
MCON Rasayan India IPO Subscription
MCON Rasayan IPO received bids for 62,31,09,000 shares on Friday. It got 36,72,60,000 subscriptions in the retail category and 24,87,42,000 in the NII category.
About MCON Rasayan India
MCON Rasayan, which is expected to raise Rs 8 crore via this NSE SME IPO, is a manufacturer and supplier of high-quality construction chemicals and building finishing products in India and abroad. The company is certified as an ISO 9001: 2015, ISO 14001:2015 & ISO 45001:2018 Company. It has over 80 products, including construction materials and construction chemicals in both powder and liquid forms.
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The powder product range includes ready mix plaster, tile adhesives, block adhesives, wall putty, micro concrete and polymer mortar, engineering non-shrink grouts, and floor hardeners. The liquid product range includes poly-urethane (PU)-based liquid membranes, bonding agents, paints, anti-corrosive coatings, concrete admixtures, and curing compounds.
The company has manufacturing plants, one each in Valsad and Navsari, Gujarat. Our 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.
“Our other plant at Chikli, Navsari, Gujarat mainly manufactures readymix mortars, block adhesives and tile adhesives and has an installed capacity of 12,500 MTPA. Our third plant is a greenfield project under-construction at Ambethi, Valsad and is expected to be operational by the end of FY 2023. Our 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,” MCON Rasayan India said.
