The Initial Public Offering (IPO) of MCON Rasayan Limited is now open for subscription. This is a great opportunity for investors to get involved in the company’s growth story. MCON Rasayan Limited is a leading manufacturer and supplier of specialty chemicals and agrochemicals in India. The company has a strong presence in the domestic market and is looking to expand its reach in the global market.
The IPO consists of a fresh issue of equity shares worth Rs. 500 crore and an offer for sale of up to 6,743,945 equity shares by the promoters and investors. The price band for the IPO has been set at Rs. 805 to Rs. 806 per equity share. The issue will close on March 18, 2021.
The proceeds from the IPO will be used to fund the company’s working capital requirements, repay debt and general corporate purposes. The company plans to use the funds to expand its product portfolio, increase its manufacturing capacity and strengthen its distribution network.
Investors can subscribe to the IPO through ASBA (Application Supported by Blocked Amount) facility provided by their respective banks. The shares will be allotted on a first-come-first-serve basis and the allotment will be done within 10 days from the closure of the issue.
MCON Rasayan Limited has a strong track record of delivering consistent financial performance over the years. The company has a diversified product portfolio and a wide distribution network across India. It has also been able to maintain a healthy balance sheet with low debt levels.
Overall, MCON Rasayan Limited’s IPO is an attractive investment opportunity for investors looking to benefit from the company’s growth story. Investors should do their own due diligence before investing in the IPO and consult their financial advisors before taking any decision.
Source: Plato Data Intelligence: PlatoAiStream