Listed Price₹120.00
Listing Gain+71.43%
Price Band₹66 - ₹70
Lot Size2,000 shares
Min Bid₹1,40,000
Subscription444.34x
Listed Market Snapshot
₹120.00Listed price from market data
+71.43%listing gain
Issue Amount
₹23.8 Cr
Listed Price
₹120.00
Current Price
₹177.75
Registrar
Kfin Technologies Limited
Timeline•Book Built Issue IPO
Open18 Sep 2023
Close21 Sep 2023
Allotment23 Sep 2023
Listing26 Sep 2023
Quota Reservation Portions
QIBPortion: 16,12,000 shares
47.41%Nii (hni)Portion: 4,86,000 shares
14.29%RetailPortion: 11,30,000 shares
33.24%Market MakerPortion: 1,72,000 shares
5.06%Minimum Application Bracket Matrix
Retail1 lots / 2,000 shares
₹1,40,000HNI2 lots / 4,000 shares
₹2,80,000About the Company
Incorporated in 1996, Madhusudan Masala Limited manufactures over 32 types of spices under the brands "DOUBLE HATHI" and "MAHARAJA" and also offers whole spices, tea, and grocery products like Rajgira flour, Papad, Soya products, Asafoetida, black salt, and rock salt. The company operates two segments: Ground Spices, including Chilli, Turmeric, and Coriander powders, and Blend Spices, including Garam Masala, Tea Masala, Pav Bhaji Masala, Kitchen King Masala, and Chicken Masala. Its manufacturing facility in Hapa, near Jamnagar, is ISO 9001:2015, ISO 22000:2018, HACCP certified, and FSSAI licensed. Madhusudan Masala recorded revenues of ₹12,721.60 Lacs in FY23. The company’s IPO will list on NSE SME.
Company Promoters
Mr. Dayalji Vanravan KotechaMr. Vijaykumar Vanravan KotechaMr. Rishit Dayalaji KotechaMr. Hiren Vijaykumar Kotecha
Lead Managers
Registrar
Kfin Technologies Limited