MCON Rasayan Limited, a leading manufacturer of agrochemicals and specialty chemicals, recently announced its initial public offering (IPO). The IPO is expected to open on April 19, 2021 and close on April 21, 2021. The price band for the IPO has been set at Rs. 745 – Rs. 750 per equity share.
The IPO consists of a fresh issue of equity shares worth Rs. 300 crore and an offer for sale of up to 1,20,00,000 equity shares by the promoters and other selling shareholders. The proceeds from the fresh issue will be used to meet the working capital requirements of the company and for general corporate purposes.
The company has appointed Axis Capital Limited, Edelweiss Financial Services Limited and IIFL Securities Limited as the book running lead managers to the issue. The equity shares of the company will be listed on both BSE and NSE.
MCON Rasayan Limited is a leading manufacturer of agrochemicals and specialty chemicals in India. The company manufactures a wide range of products including insecticides, herbicides, fungicides, plant growth regulators, and other agrochemicals. It also manufactures specialty chemicals such as industrial chemicals, surfactants, and other specialty chemicals.
The company has a strong presence in both domestic and international markets. It has a wide network of distributors across India and exports its products to more than 30 countries around the world. The company has a strong customer base in India and abroad, which includes some of the leading agrochemical companies in the world.
Investors interested in subscribing to the IPO can do so through their stockbroker or through any of the online platforms such as NSE NOW, BSE STAR MF, etc. The allotment of the shares will be done on April 26, 2021 and the listing of the shares is expected to take place on April 28, 2021.
The IPO of MCON Rasayan Limited is expected to be well-received by investors due to its strong presence in both domestic and international markets. Investors should do their own research before investing in the IPO.
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