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SME IPO Status: Listed [18th Sep 2023 to 21st Sep 2023]
Madhusudan Masala Limited is offering an SME IPO issue size of 3,400,000 shares. The subscription period for this IPO is from Sept 18, 2023 to Sept 21, 2023. The face value of the shares is Rs 10 per share and the issue price band for this SME IPO is ranging from Rs 66 to Rs 70 per shere along with the minimum lot size of this IPO 2000 sheres or its multiples.
Stay tuned for more information on Madhusudan Masala Limited IPO, including company overview, financials, live subscription, allotment, GMP and more.
| SME IPO Issue Opening Date: | 18th Sep 2023 |
| SME IPO Issue Closing Date: | 21st Sep 2023 |
| SME IPO Issue Price: | ₹66.00-70.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | NSE SME |
| Retail Quota: | Not less than 35.00% of the Offer |
| SME IPO Issue Type: | Book Build Issue |
| SME IPO Issue Size: | ₹23.80 Cr |
| Fresh Issue: | ₹23.80 Cr |
| Face Value: | ₹10 Per Equity Share |
| SME IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 100.00% |
| Promoter Holding Post IPO: | 73.64% |
| Allotment Status: | Allotment Status |
| NSE Code: | MADHUSUDAN |
Get important updates regarding Madhusudan Masala SME IPO tentative timeline covering SME IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| SME IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 26th Sep 2023 |
| Refunds Initiation* | 27th Sep 2023 |
| Credit of Shares to Demat* | 29th Sep 2023 |
| SME IPO Listing Date* | 26th Sep 2023 |
* - Tentative Dates
| SME IPO Activity | Date |
|---|---|
| Issue Price | ₹66.00-70.00 |
| Market Lot: | 2000 Shares |
| 1 Lot Amount: | ₹140000 |
| Min HNI Lots: | 4000 shares (2 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 26-09-2023 | 70.00 | 61 | 92700 | ₹131 (87.14%) | 26-Sep-2023 10:27 |
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Madhusudan Masala Limited was incorporated in December 2021. The company is engaged in manufacturing and processing more than 32 kinds of spices under the brand names “DOUBLE HATHI” and “MAHARAJA”. They also sell products such as: Whole spices, tea and other food products such as: Rajgira flour, Papad, Soy products, Asafoetida (Hing), Achar Masala (ready pickle powder), Sanchar (black salt powder), Sindhalu (rock salt powder), Katlu powder (food supplement), Kasuri Methi (dried fenugreek), etc. under the brand name “DOUBLE HATHI”. In addition, the company also generates revenue from trading whole spices and food grains by selling non-branded products.
Their spice range includes (i) ground spices, including various varieties of chili powder, turmeric powder, coriander powder and coriander cumin powder, and (ii) spice blends, including 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 bell pepper powder (Mari), dry mango powder (Aamchur), etc.
The production facility is located in the Hapa Industrial Area near Jamnagar and is strategically located near the local APMC market, which allows easy and quick access to raw materials and reduces transportation costs. The production facility is equipped with equipment and machinery to enable an efficient production process including cleaning, drying, sorting, milling and packaging. All spices and other products are produced with extreme care and in a natural way, using scientific methods to preserve the natural characteristics of the food such as color and odor over time.
| Incorporation | Sector | IPO Issue Size | Website |
| 2021 | Manufacturing and processing | ₹23.80 Cr | https://www.madhusudanmasala.com/ |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of SME IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 646,000 (28.56%) | 486,000 (21.49%) | 1,130,000 (49.96%) | 2,262,000 | |
| 1 | 18th Sep 2023 19:31 | 0.80x | 18.27x | 47.29x | 27.78x |
| 2 | 20th Sep 2023 19:32 | 7.47x | 104.21x | 234.43x | 141.64x |
| 3 | 21st Sep 2023 19:32 | 86.91x | 574.08x | 592.73x | 444.27x |
| 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 |
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Madhusudan Masala Limited | 6.94 | 6.94 | 52.4 | |||
| NHC Food Limited | 1.48 | 1.48 | 34.25 | 7.38 |
Last Updated on 30-Sep-2023 06:02:44
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Madhusudan Masala SME IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Madhusudan Masala SME IPO with Zerodha.
Alternate approch to apply in Madhusudan Masala SME IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Madhusudan Masala SME IPO Review and Important Updates
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To subscribe or apply in Madhusudan Masala SME IPO, you can use the following methods:
| Madhusudan Masala SME IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Madhusudan Masala SME IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Madhusudan Masala SME IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Madhusudan Masala SME IPO. Most of the Syndicate Banks provide access to apply in Madhusudan Masala IPO via ASBA process. You must have your net banking access, DP ID information to apply in Madhusudan Masala SME IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Madhusudan Masala SME IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Madhusudan Masala SME IPO Review and Important Updates
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Madhusudan Masala SME IPO is going to be list on 26-09-2023. NSE Code for Madhusudan Masala is MADHUSUDAN.
Other relevant questions:
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Madhusudan Masala SME IPO Allotment Date is 26-09-2023.
Other relevant questions:
Madhusudan Masala SME IPO share allotment date?Madhusudan Masala SME IPO allotment date?
