IPO

Madhusudan Masala Limited IPO

NSE SME

Listed On: Sep 26, 2023 at ₹ 120.0

₹ 280000 /4000 Shares
*Min Investment

Check Allotment

18 Sep, 2023

Open Date

21 Sep, 2023

Close Date

23 Sep, 2023

Allotment Date

26 Sep, 2023

Listing Date
Madhusudan Masala Limited IPO Issue Details
  • Issue Price ₹66-70 per equity share
  • Face Value ₹10 Per Equity Share
  • Issue Price 3,400,000 shares(aggregating up to ₹23.80 Cr)
  • Listing at NSE SME
  • List Price 120.0
  • Listing Date 2023-09-26
  • Lead Manager Hem Securities Limited
  • Registrar Kfin Technologies Limited
Madhusudan Masala Limited IPO Details
  • Retail Portion 35%
Madhusudan Masala Limited IPO Documents
DRHP
Madhusudan Masala Limited IPO Details


Madhusudan Masala Limited IPO is an SME IPO, priced at ₹66-70 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform.

The IPO bidding window is open from Sep 18, 2023 to Sep 21, 2023. The allotment is expected to be finalized on Sep 23, 2023, and the tentative listing date is Sep 26, 2023.


The registrar of the IPO is Kfin Technologies Limited, and

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Madhusudan Masala Limited IPO Subscription Analysis And Details
Retail
592.44x
Total
444.12x
As onQIB / NIIRetailTotal
Shares Offered / Reserved646,000 / 486,0001,130,0002,262,000
Day 1 18-09-23 06:00 PM
0.80 / 18.27 x47.29 x27.78 x
Day 2 20-09-23 06:00 PM
7.47 / 104.21 x234.43 x141.64 x
Day 3 21-09-23 05:00 PM
86.91 / 574.08 x592.44 x444.12 x
Madhusudan Masala Limited Valuations
Earnings Per Share (EPS) ₹6.94/-
P/E Ratio N/A
RoNW 52.40%
Net Asset Value (NAV) - Post Issue ₹N/A/-
Madhusudan Masala Limited Company Financials
In Lakhs
In Lakh
31-Mar-2331-Mar-2231-Mar-21
Assets5,736.523,514.292,599.90
Revenue12,750.576,651.816,875.18
Profit After Tax575.8981.2944.98
About Madhusudan Masala Limited Company

Madhusudan Masala Limited is engaged in manufacturing and processing more than 32 types of Spices under the brand names DOUBLE HATHI and MAHARAJA.

The company also offers Whole Spices, Tea, and Other Grocery Products like 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), etc under the brand name of DOUBLE HATHI. The company also deals in whole spices in retail and bulk quantities as well as papad, soya products, Asafoetida (Hing), black salt, rock salt, etc. procured through third-party manufacturers and packaged under its brand name of DOUBLE HATHI.

Madhusudan Masala has two product segments:
1. Ground spices: It includes varieties of Chilli Powder, Turmeric Powder, Coriander Powder, and Coriander Cumin Powder.
2. Blend Spices: It includes 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), etc.

MM's manufacturing facility is located at Industrial Area Hapa, Near Jamnagar, accredited with ISO 9001:2015 for quality management system, ISO 22000:2018 for Food Safety Management System, HACCP for Hazard Analysis Critical Control Points, and with FSSAI license under the Food Safety and Standards Act 2006.

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Madhusudan Masala Limited - Promoter(s)

Mr. Dayalji Vanravan Kotecha

Mr. Vijaykumar Vanravan Kotecha

Mr. Rishit Dayalaji Kotecha

Mr. Hiren Vijaykumar Kotecha

Pre Issue Share Holding : 100%

Post Issue Share Holding : 73.64%

Madhusudan Masala Limited IPO - Issue Objectives
1

Funding to meet working capital requirements

2

General Corporate Purpose.