Madhusudan IPO: GMP, subscription status on day 2, other key details
₹66 to ₹70 per equity share of face value of ₹10 each. Madhusudan Masala IPO lot size is 2,000 equity shares and in multiples of 2,000 equity shares thereafter. Madhusudan Masala IPO, which is worth ₹23.80 crores, is completely a fresh issue of 3,400,000 equity share; there is no offer for sale (OFS) component.
The company plans to use the net proceeds from the offering to meet its working capital requirements, and general corporate purposes. Retail investors may submit an application for one lot, whereas non-institutional investors may submit an application for at least two lots. 15% of equity shares are set aside for non-institutional investors, while the company has allocated 50% of the net IPO offer to qualified institutional bidders (QIBs).
The remaining 35% of the offering will be available to retail investors. Hem Securities Limited is the book running lead manager of the Madhusudan Masala IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Madhusudan Masala IPO is Hem Finlease.
Madhusudan Masala recorded a net profit of Rs. 575.89 lakh with revenue of Rs. 12,750.57 lakh for the fiscal year ended on March 31, 2023.
In FY23, it had an EBITDA margin of 8.66% and a profit margin of 4.53%. Dayalji Vanravan Kotecha, Vijaykumar Vanravan Kotecha, Rishit Dayalaji Kotecha, and Hiren Vijaykumar Kotecha are promoters of the company. Madhusudan IPO subscription status today was 137.17 times on day 2.
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