MCON Rasayan’s unlisted shares have a gray market premium of Rs.20.
MCON Rasayan IPO receives bids for 62,31,09,000 shares on Friday; received 36,72,60,000 subscriptions in the retail category and 24,87,42,000 in the NII category.
MCON Rasayan India Ltd’s IPO, which began public subscription on Friday, March 10, will be listed on NSE SME on March 20. The SME IPO received 62.31 subscriptions by the end of Friday, the last day of trading. Check its GMP, quota subscription and listing date including:
MCON Rasayan India IPO: Gray Market Premium
Currently, the gray market premium (GMP) for MCON Rasayan’s unlisted shares is Rs 20, according to market watchers. Accordingly, the estimated listing price of MCON Rasayan India SME IPO is Rs 60 against a price band of Rs 40.
MCON Rasayan India IPO Listing
MCON Rasayan India will see NSE SME listing on March 20. MCON Rasayan India SME IPO Lead Manager GYR Capital Advisors Private Ltd.
MCON Rasayan India IPO Subscription
MCON Rasayan IPO received bids for 62,31,09,000 shares on Friday. It received 36,72,60,000 subscriptions in the retail category and 24,87,42,000 in the NII category.
About MCON Rasayan India
Expected to raise Rs 8 crore through this NSE SME IPO, MCON Rasayan is a manufacturer and supplier of premium construction chemicals and building finishing products in India and abroad. The company is certified as an ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 company. It has more than 80 products, including powder and liquid construction materials and construction chemicals.
The range of powder products includes ready-made plaster, tile adhesives, block adhesives, wall putty, microconcrete and polymer mortars, engineering non-shrinking mortars, floor hardeners. The liquid product range includes polyurethane (PU)-based liquid membranes, binders, paints, anti-corrosion coatings, concrete admixtures and curing additives.
The company has plants one each in Valsad and Navsari, Gujarat. Our GIDC Sarigam, Valsad, Gujarat plant mainly manufactures admixtures, wall putties, tile adhesives, paints, concrete repair systems and waterproofing systems and has an installed capacity of 2500 MTPA.
“Our other plant at Chikli, Navsari, Gujarat mainly manufactures ready mortar, block adhesives and tile adhesives and has an installed capacity of 12,500 MTPA. Our third plant is a greenfield project under construction at Ambeti, Valsad and is expected to be commissioned by the end of 2023. Our total installed capacity will be 36,000 MTPA for powder products and 6,000 MTPA for liquid products by the end of 2023. 2023,” said MCON Rasayan India.
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