Madhusudan Masala IPO GMP Details
Madhusudan Masala Limited, Founded in 1982, is a renowned manufacturer and processor of over 32 varieties of spices, bearing the esteemed brand names “DOUBLE HATHI” and “MAHARAJA”.
The company’s diverse product range extends to encompass Whole Spices, Tea, and various other Grocery Products such as Rajgira flour, Papad, Soya Products, Asafoetida (Hing), Achar masala (Ready to make pickle powder), Sanchar (Black salt powder), Sindhalu (Rock salt powder), Katlu powder (Food supplement), Kasuri Methi (Dry fenugreek), and more, all proudly bearing the “DOUBLE HATHI” brand. Additionally, Madhusudan Masala engages in the retail and bulk distribution of whole spices, papad, soya products, Asafoetida (Hing), black salt, rock salt, etc., sourced from third-party manufacturers and packaged under the “DOUBLE HATHI” brand.
The product offerings of Madhusudan Masala encompass two key segments:
- Ground Spices: This category includes a diverse range of spice powders, including Chilli Powder, Turmeric Powder, Coriander Powder, and Coriander Cumin Powder.
- Blend Spices: The blend spices category comprises an array of popular spice blends like Garam Masala, Tea Masala, Chhole Masala, Sambhar Masala, Pav Bhaji Masala, Pani Puri Masala, Sabji Masala, Kitchen King Masala, Chicken Masala, Meat Masala, Chatpata Chat Masala, Butter Milk Masala, Chewda Masala, Dry Ginger Powder (Sunth), Black Pepper Powder (Mari), Dry Mango Powder (Aamchur), among others.
Madhusudan Masala’s state-of-the-art manufacturing facility is strategically located in the Industrial Area Hapa, near Jamnagar. It boasts several prestigious certifications, including ISO 9001:2015 for quality management systems, ISO 22000:2018 for Food Safety Management System, and HACCP for Hazard Analysis Critical Control Points. Furthermore, the company holds a valid FSSAI license under the Food Safety and Standards Act of 2006.
In terms of financial performance, the company achieved revenue from operations of Rs. 12,721.60 Lacs in fiscal year 2023, showcasing consistent growth from Rs. 6,540.81 Lacs in 2022 and Rs. 6,868.03 Lacs in 2021.
Objects of the Issue
The company plans to allocate the net proceeds from the issue for the following purposes:
- Meeting working capital needs.
- General corporate purposes.
Madhusudan Masala IPO Details
Madhusudan Masala IPO is a Book Built Issue with a total issue size of Rs 23.80 Crores. The price range for the Madhusudan Masala IPO is ₹66 to ₹70 per share. The IPO is set to be listed on the NSE SME.
IPO Date | September 18, 2023 to September 21, 2023 |
Listing Date | September 29, 2023 |
Face Value | ₹10 per share |
Price | ₹66 to ₹70 per share |
Lot Size | 2000 Shares |
Total Issue Size | 3,400,000 shares (aggregating up to ₹23.80 Cr) |
Fresh Issue | 3,400,000 shares (aggregating up to ₹23.80 Cr) |
Issue Type | Book Built Issue IPO |
Listing At | NSE SME |
Share holding pre issue | 9,500,000 |
Share holding post issue | 12,900,000 |
Market Maker portion | 172,000 shares |
DRHP Draft Prospectus: | Click Here |
RHP Draft Prospectus: | Click Here |
Madhusudan Masala IPO Reservation
QIB Shares Offered | Not more than 50.00% of the Net offer |
NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Retail Shares Offered | Not less than 35.00% of the Offer |
Madhusudan Masala IPO Lot Size
The minimum lot size for the Madhusudan Masala IPO is 2000 shares, requiring an investment of ₹140,000.
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 2000 | ₹140,000 |
Retail (Max) | 1 | 2000 | ₹140,000 |
HNI (Min) | 2 | 4,000 | ₹280,000 |
Madhusudan Masala IPO Dates
Madhusudan Masala IPO opens on September 18, 2023, and closes on September 21, 2023.
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 |
Madhusudan Masala Limited Financial Report
Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
---|---|---|---|
Assets | 2,599.90 | 3,514.29 | 5,736.52 |
Revenue | 6,875.18 | 6,651.81 | 12,750.57 |
Profit After Tax | 44.98 | 81.29 | 575.89 |
Net Worth | 1,094.09 | 31.07 | 1,099.10 |
Reserves and Surplus | – | 30.07 | 599.10 |
Total Borrowing | 966.40 | 2,819.53 | 4,217.20 |
Key Performance Indicator of Madhusudan Masala Ltd
KPI | Values |
---|---|
ROE | 101.91% |
ROCE | 20.08% |
Debt/Equity | 3.84 |
EPS (Rs) | 6.94 |
RoNW | 52.40% |
Madhusudan Masala IPO Promoter Holding
Mr. Dayalji Vanravan Kotecha, Mr. Vijaykumar Vanravan Kotecha, Mr. Rishit Dayalaji Kotecha, and Mr. Hiren Vijaykumar Kotecha are promoters of the company.
Pre Issue Share Holding | 100.00% |
Post Issue Share Holding | – |
Madhusudan Masala Contact Information
Madhusudan Masala Limited
F. P. No. 19, Plot No. 1 – B Hapa Road,
Jamnagar – 361001
Phone: +91- 0288 – 2572002
Email: info@madhusudanmasala.com
Website: https://www.madhusudanmasala.com/
Madhusudan Masala IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mml.ipo@kfintech.com
Madhusudan Masala IPO FAQs
What is Madhusudan Masala IPO?
Madhusudan Masala IPO is a SME IPO comprising 3,400,000 equity shares with a face value of ₹10 each, aggregating up to ₹23.80 Crores. The IPO price range is ₹66 to ₹70 per share. The minimum order quantity is 2000 Shares. The IPO subscription period is from September 18, 2023, to September 21, 2023.
Kfin Technologies Limited is the registrar for the IPO, and the shares are proposed to be listed on NSE SME.
How can I apply for Madhusudan Masala IPO through Zerodha?
Zerodha customers can apply for Madhusudan Masala IPO online using UPI as a payment gateway. To apply, follow these steps:
1. Visit the Zerodha website and log in to Console.
2. Go to Portfolio and click the IPOs link.
3. Find the ‘Madhusudan Masala IPO’ row and click the ‘Bid’ button.
4. Enter your UPI ID, Quantity, and Price.
5. Submit the IPO application form.
6. Visit the UPI App (net banking or BHIM) to approve the mandate.
When does the 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, requiring a minimum investment of ₹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 through the net banking of your bank account, while UPI IPO application is provided by brokers who don’t offer banking services. For detailed instructions, refer to how to apply for an IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.
When will the Madhusudan Masala IPO allotment take place?
The finalization of the Basis of Allotment for Madhusudan Masala IPO will occur on Tuesday, September 26, 2023. The allotted shares will be credited to your demat account by Thursday, September 28, 2023. You can check the Madhusudan Masala IPO allotment status to know your allotment details.
When is the Madhusudan Masala IPO listing date?
The listing date for the Madhusudan Masala IPO is yet to be announced. The tentative date for the Madhusudan Masala IPO listing is Friday, September 29, 2023.