Madhusudan Masala Limited is a company engaged in the manufacturing and processing of various spices and grocery products under the brand names "DOUBLE HATHI" and "MAHARAJA."
Product Range: Madhusudan Masala Limited offers a wide range of products, including more than 32 types of spices, whole spices, tea, and various other grocery items. These products are sold under the brand name "DOUBLE HATHI."
Product Segments: The company operates in two main product segments:
Ground Spices: This category includes spices like Chilli Powder, Turmeric Powder, Coriander Powder, and Coriander Cumin Powder.
Blend Spices: This category comprises various spice blends like Garam Masala, Tea Masala, Chhole Masala, Sambhar Masala, and many others.
Manufacturing Facility: Madhusudan Masala Limited's manufacturing facility is located in Industrial Area Hapa, Near Jamnagar. The facility has received accreditation and licenses for quality management, food safety, and standards compliance, including ISO 9001:2015, ISO 22000:2018, HACCP, and FSSAI.
Financial Performance: The company's revenue from operations for fiscal years 2021, 2022, and 2023 were Rs. 6,868.03 Lacs, Rs. 6,540.81 Lacs, and Rs. 12,721.60 Lacs, respectively. This indicates an increase in revenue over the years.
Madhusudan Masala IPO Details
IPO Date: September 18, 2023, to September 21, 2023
Face Value: ₹10 per share
Price Range: ₹66 to ₹70 per share
Lot Size: 2000 Shares
Total Issue Size: 3,400,000 shares (aggregating up to ₹23.80 Crores)
Fresh Issue: 3,400,000 shares (aggregating up to ₹23.80 Crores)
Issue Type: Book Built Issue IPO
Listing Exchange: NSE SME
Shareholding Pre-Issue: 9,500,000
Shareholding Post-Issue: 12,900,000
Market Maker Portion: 172,000 shares
Madhusudan Masala IPO Lot Size
Retail (Minimum): 1 Lot = 2000 Shares, Amount: ₹140,000
Retail (Maximum): 1 Lot = 2000 Shares, Amount: ₹140,000
HNI (Minimum): 2 Lots = 4,000 Shares, Amount: ₹280,000
Madhusudan Masala IPO Reservation
QIB (Qualified Institutional Buyers): Not more than 50.00% of the Net Offer
NII (Non-Institutional Investors - HNI): Not less than 15.00% of the Offer
Retail Investors: Not less than 35.00% of the Offer
Madhusudan Masala IPO Promoter Holding
Promoters: Mr. Dayalji Vanravan Kotecha, Mr. Vijaykumar Vanravan Kotecha, Mr. Rishit Dayalaji Kotecha, and Mr. Hiren Vijaykumar Kotecha
Pre-Issue Shareholding: 100.00%
Post-Issue Shareholding: 73.64%
Madhusudan Masala IPO (Tentative Dates)
IPO Open Date: Monday, September 18, 2023
IPO Close Date: Thursday, September 21, 2023
Basis of Allotment: Tuesday, September 26, 2023
Initiation of Refunds: Wednesday, September 27, 2023
Credit of Shares to Demat: Thursday, September 28, 2023
Listing Date: Friday, September 29, 2023
Cut-off time for UPI mandate confirmation: 5 PM on September 21, 2023
Objects of the Issue
Funding to Meet Working Capital Requirements: The company aims to use a portion of the funds raised through the IPO to bolster its working capital, ensuring that it has the necessary financial resources to support its day-to-day operations and business activities.
General Corporate Purpose: The IPO proceeds will also be utilized for general corporate purposes, which may encompass various operational and strategic needs of the company to further its growth and expansion plans.
FAQ
What is Madhusudan Masala IPO?
Madhusudan Masala IPO is a Small and Medium-sized Enterprises (SME) IPO offering 3,400,000 equity shares with a face value of ₹10 each, aggregating up to ₹23.80 Crores. The price per share is in the range of ₹66 to ₹70. The minimum order quantity is 2000 shares. The IPO subscription period is from September 18, 2023, to September 21, 2023.
How to apply in Madhusudan Masala IPO through Zerodha?
Zerodha customers can apply for the Madhusudan Masala IPO online using the UPI payment gateway. They can do this by logging into Zerodha Console (back office) and submitting the IPO application form. Here are the steps to apply:
Visit the Zerodha website and log in to Console.
Go to Portfolio and click on the IPOs link.
Find the 'Madhusudan Masala IPO' row and click the 'Bid' button.
Enter your UPI ID, Quantity, and Price.
Submit the IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
When does Madhusudan Masala IPO open?
The Madhusudan Masala IPO opens on September 18, 2023, and closes on September 21, 2023.
What is the lot size of Madhusudan Masala IPO?
The lot size for Madhusudan Masala IPO is 2000 shares, and the minimum amount required to apply is ₹140,000.
How can I apply for Madhusudan Masala IPO?
You can apply for Madhusudan Masala IPO online using either UPI or ASBA as the payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who do not provide banking services.
When will Madhusudan Masala IPO allotment take place?
The Basis of Allotment for Madhusudan Masala IPO will be finalized on Tuesday, September 26, 2023, and the allotted shares will be credited to your demat account by Thursday, September 28, 2023.
When is the Madhusudan Masala IPO listing date?
The listing date for Madhusudan Masala IPO is tentatively set for Friday, September 29, 2023. Please note that this date may be subject to change.