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MADHUSUDANSME / NSEListed
Madhusudan Masala

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.

drhpanchor
₹66 - ₹70444.34x sub
Listed Price₹120.00
Listing Gain+71.43%

IPO Schedule & Timeline

Book Built Issue IPO
Open18 Sep 2023
Close21 Sep 2023
Allotment23 Sep 2023
Listing26 Sep 2023

Quota Reservation & Application Lots

Quota Reservation (% Shares)

QIB16,12,000 shares
47.41%
Nii (hni)4,86,000 shares
14.29%
Retail11,30,000 shares
33.24%
Market Maker1,72,000 shares
5.06%

Minimum Application Lots

Retail1 Lot (2,000 shares)
₹1,40,000
HNI2 Lots (4,000 shares)
₹2,80,000

Company Promoters

Mr. Dayalji Vanravan KotechaMr. Vijaykumar Vanravan KotechaMr. Rishit Dayalaji KotechaMr. Hiren Vijaykumar Kotecha

Company Background

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...

Lead Managers & Bankers

Hem Securities Limited

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Mar 2021)₹6875.18 Cr
Growth-46.1%
Revenue Trend (₹ in Crores)
0.04.9k9.8k14.7kMar 2023Mar 2022Mar 2021
PeriodRev (Cr)PAT (Cr)AssetsDebt
Mar 20216,875.1844.982,599.90966.40
Mar 20226,651.8181.293,514.292,819.53
Mar 202312,750.57575.895,736.524,217.20

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Values6.94101.91%20.08%10.0815.7

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Kfin Technologies Limited

Allotment Finalized
Allotment Date
23 Sep 2023
Official Status
Out / Finalized
Registrar
Kfin Technologies Limited
Listing Date
26 Sep 2023

Official Allotment Verification Links

Official Registrar Portal
Kfin Technologies Limited

Direct allotment verification on the official registrar portal appointed for Madhusudan Masala. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization23 Sep 2023Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date26 Sep 2023Trading commences on exchange

How to Check Madhusudan Masala Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Madhusudan Masala from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Official FilingDRHP
Official FilingANCHOR

Allotment FAQs & Help

About Madhusudan Masala IPO

Complete issue overview for Madhusudan Masala (MADHUSUDAN) IPO. The issue features an equity share price band of ₹66 – ₹70 per share with a minimum retail lot size of 2000 Shares (minimum application amount of ₹1,40,000). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions