MCPL IPO Details and Analysis
Exploring investment opportunities in the SME sector? The MCPL SME IPO might just be the ticket. With its proposal to list on the BSE SME platform, this Fixed Price Issue IPO is stirring interest among savvy investors. With a competitive issue size of up to ₹14.47 Cr and an issue price of ₹62.00 per share, MCPL’s entry into the market is a move worth watching.
The IPO landscape is ever-evolving, and comparing offerings like the Indifra IPO and the MCPL IPO provides valuable insights. Both poised to make their mark on their respective SME platforms, these IPOs present unique prospects for investors. I’ll guide you through the nuances of MCPL’s IPO, from subscription details to daily GMP updates, ensuring you’re equipped with the knowledge to make an informed decision.
MCPL IPO Details
The MCPL SME IPO captivated the market’s attention with its significant figures. Issued at a price of ₹62 per share, the offer comprised 2,334,000 shares, translating to an impressive aggregate of up to ₹14.47 Cr. With these numbers, I’m here to delve into the finer details of the IPO, shedding light on information crucial for potential investors.
Spanning from December 27, 2023, to December 29, 2023, the IPO was open to subscriptions, promising a new chapter for both the company and its investors upon its listing on the BSE SME platform. Investment in the IPO hinged on a lot size of 2000 shares, meaning interested parties had to commit to this minimum quantity if they wished to take part.
Diving deeper, it’s worth noting the face value of ₹10 per share, a standard metric that stands as the foundation value of the stocks. Market Makers reserved a portion of 118,000 shares, indicating a safeguard mechanism to ensure liquidity and trading stability post-listing.
Here’s a quick recap of the issue details in a structured format:
| Attribute | Detail |
|---|---|
| Issue Price | ₹62 per share |
| Total Issue Size | 2,334,000 shares |
| Aggregating Up To | ₹14.47 Cr |
| Fresh Issue | 2,334,000 shares |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Pre-Issue Shareholding | 6,000,000 shares |
| Post-Issue Shareholding | 8,334,000 shares |
| Market Maker Portion | 118,000 shares |
Given the pre and post-issue shareholding numbers, it’s discernible that this IPO was set to initiate substantial shifts in the company’s ownership structure. Before the IPO, were 6,000,000 shares held, which elevated to 8,334,000 shares following the issue. This reflects a meaningful expansion of the company’s equity base, which investors must consider.
MCPL IPO Timeline
Navigating the MCPL IPO’s chronological events is key for investors to stay informed and prepared. With the IPO Open Date set on Wednesday, December 27, 2023, the starting gun fired for prospective shareholders. The window for expression of interest remained open for a short yet critical period, concluding on the IPO Close Date, Friday, December 29, 2023. As I know the importance of these dates, I ensured my application was submitted well before the Cut-Off Time for UPI Mandate Confirmation, which was firmly set at 5 PM on the closing date.
Following the subscription period, the Basis of Allotment was scheduled to be declared by Monday, January 1, 2024. This was a significant moment as it determined how shares were distributed among applicants, including myself. The anticipation was palpable across investment forums, with many trying to predict outcomes or looking for early indicators of their application’s success.
Right on its heels, the Initiation of Refunds was to begin on Tuesday, January 2, 2024. This could be a bittersweet moment, depending on one’s allotment status. For those whose applications were not fully successful, the refund process started promptly, assuring that funds were returned efficiently, which I find to be a testament to the reliability of the IPO process.
Credit of Shares to Demat accounts aligned with the refund initiation, slated for Tuesday, January 2, 2024. Having shares credited to demat accounts is always an important step, marking the transition from application to actual shareholding.
The entire sequence aims toward a pivotal event: the Listing Date. Projected for Wednesday, January 3, 2024, it marks the day MCPL shares were to make their debut on the stock exchange, allowing shareholders to trade. The excitement I feel about the IPO listing is similar to many eager investors anticipating the company’s performance on the open market.
MCPL IPO Lot Size
When we’re exploring the intricacies of an IPO, understanding the lot size is crucial. For the MCPL IPO, the lot size serves as the minimum number of shares an investor can purchase. With my focus on providing detailed insights, let’s delve into the lot size specifics for retail and high-net-worth individual (HNI) investors.
Retail Investors
For retail investors, the MCPL IPO presented a straightforward proposition. The lot size was fixed at 2000 shares, which meant retail investors had the option to subscribe for either a minimum (1 lot) or maximum (1 lot) of 2000 shares. The financial commitment for a single lot amounted to ₹124,000. This fixed lot size ensured that retail investors clearly understood the investment required and could plan their finances accordingly.
HNI Investors
High-net-worth individuals had a different threshold compared to retail investors. HNI investors were required to subscribe to a minimum of 2 lots. Each lot, akin to the retail segment, comprised 2000 shares which doubled the minimum share count to 4000 for HNIs. Consequently, the minimum amount they needed to commit was set at ₹248,000.
The IPO’s structure allowed for a leveled playing field where the lot size was uniformly set across different investor classes for the number of shares, even though the monetary threshold differed.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min/Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4000 | ₹248,000 |
This tabular presentation showcases the clear demarcation of the lot sizes for different investor categories, thus simplifying the decision-making process for potential subscribers. Understanding and planning for these lot sizes were crucial, especially considering the MCPL IPO issue size of up to ₹1447 Cr, which was notably higher than some contemporaries, such as Kay Cee Energy & Infra, which had their issue size capped at ₹1593 Cr. With equal face value and market lot size, the issue size amount differentiated MCPL from others in the SME segment.
MCPL IPO Promoter Holding
When assessing an IPO, one key aspect I examine is the promoter holding, which reflects the confidence of the company’s stewards in its future. Prior to the MCPL IPO, shareholding by the promoters stood firm at a substantial 99.55%. This substantial stake by the insiders suggests a strong belief in the company’s long-term prospects and stability.
The Rakhasiya family, comprising Mr. Manoj Dharamshi Rakhasiya, Mrs. Anjana Manoj Rakhasiya, Mr. Dhruv Manoj Rakhasiya, Mr. Akash Manoj Rakhasiya, Mrs. Manasvi Dhruv Rakhasiya, and Manoj D Rakhasiya HUF, helmed by Mr. Manoj Dharamshi Rakhasiya, have been instrumental in steering the company to where it stands today.
Post-issue, there’ll be an inevitable dilution of the promoters’ shareholding, yet looking at this in the context of capital expansion plans and debt reduction strategies is essential. Potential investors should consider how this change in share distribution could shape the company’s governance and decision-making post-IPO.
Given the formidable pre-issue holding, investors must understand the post-issue ownership structure. The exact figures will crystallize only after the IPO concludes, but market analysts and industry observers alike are closely watching the details of this transformative financial exercise.
Reviewing the promoter’s post-IPO stake is particularly salient not just for the snapshot it offers of the company’s current valuation but also for the story it tells about growth expectations and the potential trajectory for the business. This clarifies the potential risks and rewards associated with investing in MCPL’s public offering.
I’ll continue to keep a pulse on how this percentage adjusts as the IPO progresses, which will certainly serve as an indicator of the promoters’ long-term commitment and the confidence they place in their business model and operational execution.
Manoj Ceramic Limited Financial Information
When delving into Manoj Ceramic Limited’s financials, it’s clear the company has been on an upward trajectory. Reviewing the restated financial statements, I noticed significant growth over the recent fiscal years. From fiscal year 2021 to 2023, Manoj Ceramic’s assets underwent a considerable expansion.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 7,787.64 | 5,866.52 | 6,074.55 |
| Revenue | 7,493.48 | 4,499.62 | 3,730.84 |
| Profit After Tax | 362.43 | 94.50 | 8.24 |
| Net Worth | 1,310.05 | 947.62 | 853.11 |
| Reserves and Surplus | 910.05 | 547.62 | 453.11 |
| Total Borrowing | 5,054.97 | 3,495.83 | 3,926.16 |
Amount in ₹ Lakhs
The revenue surged from ₹3,730.84 lakhs in March 2021 to a robust ₹7,493.48 lakhs by March 2023, showcasing a compound annual growth rate that investors often look for as a signal of strong performance and potential. Even more telling is the dramatic escalation in profit after tax (PAT), soaring from a modest ₹8.24 lakhs to an impressive ₹362.43 lakhs over the same period, which speaks volumes about the company’s efficiency and profitability improvements.
Manoj Ceramic’s net worth has steadily increased on the sustainability front, indicating a solid financial base, which is often assessed for longer-term investment viability. The rise from ₹853.11 lakhs to ₹1,310.05 lakhs provides evidence of the company’s ability to grow its equity while remaining financially sound.
MCPL IPO Reservation
When delving into the specifics of the MCPL IPO, it’s crucial to unpack the reservation details for the different categories of investors. The shares are neatly distributed between retail investors and others, each earmarked to receive half of the issue’s net offering.
Retail investors play a pivotal role in the public offering, with a reservation of 50% of the net issue dedicated to this group. This is particularly significant as it empowers individual investors to have a sizable stake in the company’s future. Likewise, the remaining 50% of the shares are made available to other categories, balancing the distribution dynamics. Here’s how it breaks down:
| Investor Category | Shares Offered |
|---|---|
| Retail Shares | 50% of the Net issue |
| Other Shares | 50% of the Net issue |
The allotment status will be a piece of eagerly awaited information for retail investors, set to be available on January 1, 2024. The process to check the allotment status will be straightforward, involving a visit to the dedicated MCPL IPO Allotment Status webpage and inputting relevant details such as PAN number, Application Number, or DP Client ID.
It’s also worth noting that in the event the MCPL IPO is oversubscribed in the retail category, allocation will follow a proportionate methodology within the Retail Individual Investors (RII) contingent. The minimum one-lot guarantee is a fair draw for many retail investors, though a lottery system may kick in to determine final allotments if the share availability does not meet demand.
The anticipation for the IPO’s performance is quite palpable, with the expected listing date on the BSE SME platform locked in for January 3, 2024. Such dates are pivotal milestones and stepping stones that could propel the company into a new phase of market engagement and investor relations.
About Manoj Ceramic Limited
Since its inception in 1991, Manoj Ceramic Limited (MCPL) has established a significant presence in the ceramic industry. As India’s largest collection of floor, wall, and outdoor parking tiles, the company has made a name for itself with its versatility and range. My research into their history revealed that they’re not just another player in the market but a pioneer in their field.
The head office of MCPL is strategically located in Mumbai, Maharashtra. The company’s commitment to quality and an extensive product array distinguishes it from its competitors. Their unique selling proposition is the widest range of ceramic products that they bring to the table. From vibrantly colored tiles to classic designs, their offerings cater to a multitude of tastes and functional needs.
As a non-government company, MCPL has a level of agility that allows it to respond swiftly to market trends and customer needs. They can deliver a diverse range of products that have me convinced of their profound impact on the market. The company’s product uniqueness isn’t just a tagline; it’s a testament to its expansive catalog, which can be significant for the discerning investor.
I found the registration status of Manoj Ceramic Limited intriguing as well. It’s not just another entity — its status with the Registrar of Companies adds a layer of credibility and assures that they adhere to certain standards of operation and transparency. Knowing this, investors can engage with their IPO with a sense of security regarding the company’s regulatory compliance.
Continuing to delve into the company’s background, the long-standing heritage and the stronghold in the Indian ceramics sector tie back to their strategic approaches and innovation. Their understanding of the market dynamics has allowed MCPL to maintain its position as a leading manufacturer in this competitive landscape.
If we look at the backdrop of the ceramic industry and the economic indicators, the enviably extensive product line of MCPL stands out. Their capacity to serve a wide customer base gives them an edge in scalability and potential market capture. It’s this forward-thinking approach that implies growth potential in the progression of their business endeavors.
MCPL IPO Review
The MCPL IPO presents a unique opportunity for both retail and institutional investors to be a part of a company with a robust foothold in the ceramics industry. With a balanced reservation of shares and a clear allotment schedule, I’m optimistic about the potential for equitable investment opportunities. The company’s established market presence and commitment to innovation suggest that MCPL is well-positioned for future growth. As we look towards the listing date, it’s an exciting time for investors ready to tap into the ceramics sector’s dynamic landscape. Keep an eye out for January 3, 2024, when MCPL makes its anticipated debut on the BSE SME platform. This could be the moment to diversify portfolios and invest in a company that has consistently demonstrated its prowess in the competitive ceramics space.
You may also like Kay Cee Energy & Infra IPO.
How to Apply for MCPL IPO in Zerodha
To apply for an IPO in Zerodha, you can follow these steps:
- Using Kite Web:
- Log in to kite.zerodha.com.
- Click on Bids, then IPO, select the desired IPO, and then Apply.
- Select the investor type and enter the UPI ID.
- Enter the quantity and price, ensuring the quantity is a multiple of the lot size and within the issue price range.
- Click on the undertaking checkbox and submit.
- Accept the mandate on the UPI app.
