MCPL IPO is a fixed price issue of Rs 14.47 crores. The issue is entirely a fresh issue of 23.34 lakh shares.
MCPL IPO opens for subscription on December 27, 2023 and closes on December 29, 2023. The allotment for the MCPL IPO is expected to be finalized on Monday, January 1, 2024. MCPL IPO will list on BSE SME with tentative listing date fixed as Wednesday, January 3, 2024.
MCPL IPO price is ₹62 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹124,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹248,000.
Swaraj shares and securities private limited is the book running lead manager of the MCPL IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for MCPL IPO is Shreni Shares.
Refer to MCPL IPO RHP for detailed information.
MCPL IPO Details
| IPO Date | December 27, 2023 to December 29, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹62 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,334,000 shares (aggregating up to ₹14.47 Cr) |
| Fresh Issue | 2,334,000 shares (aggregating up to ₹14.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 6,000,000 |
| Share holding post issue | 8,334,000 |
| Market Maker portion | 118,000 shares Shreni Shares |
MCPL IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
MCPL IPO Timeline (Tentative Schedule)
MCPL IPO opens on December 27, 2023, and closes on December 29, 2023.
| IPO Open Date | Wednesday, December 27, 2023 |
| IPO Close Date | Friday, December 29, 2023 |
| Basis of Allotment | Monday, January 1, 2024 |
| Initiation of Refunds | Tuesday, January 2, 2024 |
| Credit of Shares to Demat | Tuesday, January 2, 2024 |
| Listing Date | Wednesday, January 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 29, 2023 |
MCPL IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹124,000 |
| Retail (Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4,000 | ₹248,000 |
| Lot Size Calculator |
MCPL IPO Promoter Holding
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 (acting through its Karta Mr. Manoj Dharamshi Rakhasiya) are the promoters of the company.
| Share Holding Pre Issue | 99.55% |
| Share Holding Post Issue | 71.67% |
About Manoj Ceramic Limited
Incorporated in 1991, Manoj Ceramic Limited trades in ceramic tiles and tile adhesives under the brand name “MCPL”.
The company’s product portfolio includes ceramic tiles and tile adhesives.
Ceramic tiles: Providing tiles in various shapes, colors, and sizes through its dealer network, retail showrooms, export, and B2B sales to various end users such as architects, builders, and contractors. The company has the tiles manufactured by a third-party manufacturer and does not produce them itself.
The company has a network of dealers in the western and southern regions of India, mainly in Maharashtra, Goa, Tamil Nadu, and Karnataka.
The company’s retail showrooms are located in Mumbai at Ghatkopar and Andheri and in Bangalore at Raja Rajeshwari Nagar.
Tile adhesives: Supplies tile adhesives to the end user through its distribution network in Maharashtra. The company orders the material from a third-party manufacturer and does not produce it itself.
In addition to the distribution network, the company also sells the product via its B2B network, i.e. to architects, builders and contractors, whom it supplies directly.
As of December 2023, the company has also incorporated its subsidiary in London, UK, under the name MCPL Ceramic Limited.
Manoj Ceramic Limited Financial Information (Restated)
Manoj Ceramic Limited’s revenue increased by 66.54% and profit after tax (PAT) rose by 283.52% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,491.23 | 7,787.64 | 5,866.52 | 6,074.55 |
| Revenue | 4,374.54 | 7,493.48 | 4,499.62 | 3,730.84 |
| Profit After Tax | 301.75 | 362.43 | 94.50 | 8.24 |
| Net Worth | 1,610.05 | 1,310.05 | 947.62 | 853.11 |
| Reserves and Surplus | 760.05 | 910.05 | 547.62 | 453.11 |
| Total Borrowing | 5,862.72 | 5,054.97 | 3,495.83 | 3,926.16 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 0.26 |
| Debt/Equity | 3.86 |
| EPS (Rs) | 241.62 |
| RoNW | 27.67% |
Check MCPL IPO Peer Comparison here.
Objects of the Issue (MCPL IPO Objectives)
The company intends to utilize the issue proceeds to meet the following objects:
- To meet the working capital expenses
- General Corporate Purpose
MCPL IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. Based on its FY24 annualized super earnings, the issue appears lucratively priced. The sustainability of reported margins from FY23 onwards raise concerns. Well-informed investors may park moderate funds for the medium term. Read detail review…Manoj Ceramic Limited Contact Details
Manoj Ceramic Limited
1, Krishna Kunj,
140 Vallabh Baugh Lane,
Ghatkopar (East), Mumbai – 400077
Phone: +91-9167271066
Email: info@mcplworld.com
Website: https://mcplworld.com/home
MCPL IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/queries/