Master Components IPO is a fixed price issue of Rs 15.43 crores. The issue is a combination of fresh issue of 7 lakh shares aggregating to Rs 9.80 crores and offer for sale of 4.02 lakh shares aggregating to Rs 5.63 crores.
Master Components IPO bidding started from September 18, 2023 and ended on September 21, 2023. The allotment for the Master Components IPO is expected to be finalized on Tuesday, September 26, 2023. Master Components IPO will list on NSE SME with tentative listing date fixed as Friday, September 29, 2023.
Master Components IPO price is ₹140 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹280,000.
Aryaman Financial Services Limited is the book running lead manager of the Master Components IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Master Components IPO is Aryaman Capital Markets.
Refer to Master Components IPO RHP for detailed information.
Master Components IPO Details
| IPO Date | September 18, 2023 to September 21, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹140 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 1,102,000 shares (aggregating up to ₹15.43 Cr) |
| Fresh Issue | 700,000 shares (aggregating up to ₹9.80 Cr) |
| Offer for Sale | 402,000 shares of ₹10 (aggregating up to ₹5.63 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 3,300,000 |
| Share holding post issue | 4,000,000 |
| Market Maker portion | 56,000 shares Aryaman Capital Markets |
Master Components IPO Reservation
Master Components IPO a total of 1,102,000 shares are offered. RII: 523,000 (47.46%), NII: 523,000 (47.46%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 56,000 (5.08%) |
| Other Shares Offered | 523,000 (47.46%) |
| Retail Shares Offered | 523,000 (47.46%) |
| Total Shares Offered | 1,102,000 (100%) |
Master Components IPO Timeline (Tentative Schedule)
Master Components IPO opens on September 18, 2023, and closes on September 21, 2023.
| IPO Open Date | Monday, September 18, 2023 |
| IPO Close Date | Thursday, September 21, 2023 |
| Basis of Allotment | Tuesday, September 26, 2023 |
| Initiation of Refunds | Wednesday, September 27, 2023 |
| Credit of Shares to Demat | Thursday, September 28, 2023 |
| Listing Date | Friday, September 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 21, 2023 |
Master Components IPO Lot Size
Investors can bid for a minimum of 1000 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 | 1000 | ₹140,000 |
| Retail (Max) | 1 | 1000 | ₹140,000 |
| HNI (Min) | 2 | 2,000 | ₹280,000 |
| Lot Size Calculator |
Master Components IPO Promoter Holding
Mudduraj Kulkarni, Shrikant Joshi, Rajeshwari Kulkarni, and Anagha Joshi are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 72.41% |
About Master Components Limited
Incorporated in 1999, Master Components Limited is engaged in manufacturing plastic engineering components and sub-assemblies.
The company’s primary activity is molding the materials to produce new components for Electrical, Medical, Industrial, and Automotive sector applications. Following is the list of their services:
- Thermoplastic Injection Molding
- Thermoset Injection Molding
- Thermoset transfer molding
- Compression Molding
Master Components’ manufacturing facility is located in Nashik on the Mumbai- Pune Highway. The facility has a capacity ranging from 60-450 tonnes and the products molded range from 1gm to 1500 gms.
As of March 31, 2023, the company has over 25 employees. The company also employs contract employees for project-specific work from time to time.
Master Components Limited is a part of Master Group, which has more than 3 factories and over 120 employees. Master Group also owns Master Mould Pvt. Ltd., a designing and manufacturing company of all types of injection, compression, and transfer molds.
Company Financials
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,460.93 | 1,419.09 | 1,485.24 | 1,659.17 |
| Revenue | 1,535.68 | 1,327.72 | 1,842.50 | 2,090.03 |
| Profit After Tax | 132.22 | 76.14 | 93.73 | 170.54 |
| Net Worth | 824.90 | 901.04 | 994.77 | 1,165.31 |
| Reserves and Surplus | 794.90 | 871.04 | 964.77 | 835.31 |
| Total Borrowing | 376.54 | 216.29 | 173.33 | 93.96 |
Amount in ₹ Lakhs
Key Performance Indicator
Master Components IPO Market Cap is Rs 56 Cr and P/E (x) is 27.09.
| KPI | Values |
|---|---|
| P/E (x) | 27.09 |
| Post P/E (x) | 32.86 |
| Market Cap (₹ Cr.) | 56 |
| ROE | 59.68% |
| ROCE | 59.24% |
| Debt/Equity | 0.08 |
| EPS (Rs) | 5.17 |
| RoNW | 14.63% |
Check Master Components IPO Peer Comparison here.
Objects of the Issue (Master Components IPO Objectives)
The company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
- Funding Working capital requirements.
- General Corporate Purpose.
Master Components IPO Review (Avoid)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It has posted growth in its top line but super earnings for FY23 raises concern over the sustainability of margins. Based on FY23 performance, the issue appears aggressively priced. The small equity capital post IPO indicates longer gestation for migration to mainboard. There is no harm in skipping this pricey bet. Read detail review…
Master Components IPO Subscription Status (Bidding Detail)
The Master Components IPO is subscribed 8.20 times on Sep 21, 2023 7:29:00 PM. The public issue subscribed 10.11 times in the retail category, times in the QIB category, and 5.89 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 5.89 |
| Retail | 10.11 |
| Total | 8.20 |
Total Application : 5,285 (10.11 times)
Master Components IPO Prospectus
- › Master Components IPO DRHP
- › Master Components IPO RHP
Master Components IPO Contact Details
Master Components Limited
Plot No. D-10/A
and D-10/B, M.I.D.C,
Ambad, Nashik – 422010
Phone: +91 9823016315
Email: compliance@master-components.com
Website: https://master-group.in/components
Master Components IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html