Incorporated in 2016, MCON Rasayan India Limited is manufacturing, marketing, and sells modern building materials and construction chemicals. The company has a suite of more than 80 products, including various construction materials and construction chemicals in powder and liquid forms.
About Company
The company’s powder products are Ready mix plaster, Tile adhesives, Block adhesives, Wall putty, Micro concrete & polymer mortar, Engineering non-shrink grouts, and Floor hardeners.
Liquid Form products include Poly-urethane (PU) based liquid membranes, Bonding agents, Paints, Anti-corrosive coatings, Concrete admixtures, and Curing compounds.
The products of MCON Rasayan India Limited are marketed under the brand label “MCON.”
The company has two manufacturing plants in Valsad and Navsari, Gujarat. The plant at GIDC Sarigam, Valsad, Gujarat, mainly manufactures admixtures, wall putty, tile adhesives, paints, concrete repair systems, and waterproofing systems. It has an installed capacity of 2,500 MTPA. And the Navsari, Gujarat plant manufactures ready mix mortars, block adhesives, and tile adhesives and has an installed capacity of 12,500 MTPA.
| Minimum Investment ₹120,000 / 1 Lots ( 3000 Shares ) | Maximum Investment ₹120,000 / 1 Lots ( 3000 Shares ) |
| Price Range ₹40 | Issue Size ₹6.84 Cr |
| Investor category and sub category Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors | Retail Discount To be announced |
IPO Dates
Important dates with respect to IPO allotment and listing
| IPO Open Date Mar 6, 2023 | IPO Close Date Mar 10, 2023 |
| IPO Allotment Date Mar 15, 2023 | Initiation Of Refunds Mar 16, 2023 |
| Credit Of Shares To Demat Account Mar 17, 2023 | IPO Listing Date Mar 20, 2023 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Retail Investors | 266.24 |
| Non-Institutional Buyers | 89.60 |
| Total | 178.92 |
IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
| Day 1 Mar 6, 2023 | 16.23 | 32.71 | 24.47 |
| Day 2 Mar 8, 2023 | 33.03 | 115.87 | 74.45 |
| Day 3 Mar 9, 2023 | 72.04 | 241.77 | 157.91 |
| Day 4 Mar 10, 2023 | 89.60 | 266.24 | 178.92 |
MCON Rasayan India Ltd. IPO Objective
- Funding the working capital requirements of the company
- General Corporate Purposes
Why should you invest in MCON Rasayan India Ltd. IPO?
Here are your top reasons to consider investing in the IPO:
- They offer a comprehensive product portfolio in building construction materials.
- With a steep rise in construction activities and higher import charges for construction chemicals, there are new opportunities for domestic construction chemical companies.
- Allowing 100% FDI in the infrastructure sector will boost the growth of construction chemical companies.
IPO Financials
| Parameters | Year ending on As on 31st March, 2022 (₹ lakhs) | Year ending on As on 31st March, 2021 (₹ lakhs) | Year ending on As on 31st March, 2020 (₹ lakhs) |
|---|---|---|---|
| Revenue from operation | 1,921.65 | 897.77 | 896.62 |
| Profit After Tax | 44.40 | 18.68 | 3.61 |
| EBITDA | 128.04 | 91.38 | 65.41 |
| EBITDA Margin | 6.66% | 10.18% | 7.30% |
| EPS (Basic) | 2.96 | 1.25 | 0.32 |
| Current Asset | 1,177.52 | 685.91 | 634.47 |
| Current Liabilities | 463.79 | 293.31 | 333.93 |
Know before investing
Strengths
- An increase in construction and infrastructure development activities will boost the sector.
- They are associated with clients like developers, civil contractors, and architects for the marketing of their products.
- They have an in-house research and development unit in Navi Mumbai, Maharashtra.
Risks
- They depend on third-party suppliers for raw materials, which limits their control over the quality of the products.
- Their revenue primarily comes from the top five customers.
- The business is subject to seasonal variances and market cycles that result in fluctuating operations.
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