The Initial Public Offering (IPO) of MCON Rasayan Limited is now open for subscription. MCON Rasayan Limited is a leading agrochemical company in India that manufactures and markets a wide range of agrochemicals, including insecticides, herbicides, fungicides, and plant growth regulators. The company has been in the business for over two decades and has established itself as a reliable and trusted supplier of agrochemicals to farmers across India.
The IPO of MCON Rasayan Limited is open for subscription from April 5, 2021 to April 9, 2021. The issue price of the IPO is Rs. 75 per equity share with a face value of Rs. 10 per equity share. The company is offering up to 1,00,00,000 equity shares in the IPO. The minimum application amount is Rs. 7,500 and in multiples of Rs. 75 thereafter.
The proceeds from the IPO will be used by the company to fund its working capital requirements and to meet other general corporate purposes. The company has appointed ICICI Securities Limited, HDFC Bank Limited, and Yes Securities (India) Limited as the book running lead managers to the issue.
The issue is being made through the book building process wherein not more than 50% of the issue size shall be available for allocation on a proportionate basis to qualified institutional buyers (QIBs). Further, not more than 15% of the issue size shall be available for allocation on a proportionate basis to non-institutional bidders and not more than 35% of the issue size shall be available for allocation on a proportionate basis to retail individual bidders.
Investors should note that the subscription of the IPO is subject to market conditions and other factors. Therefore, investors should consult their financial advisors before investing in the IPO. The allotment of shares will be done on a first-come-first-serve basis and the basis of allotment will be finalized within two working days from the closure of the issue.
In conclusion, MCON Rasayan Limited’s IPO subscription is now open and investors can subscribe to the issue till April 9, 2021. The company has appointed ICICI Securities Limited, HDFC Bank Limited, and Yes Securities (India) Limited as the book running lead managers to the issue. Investors should consult their financial advisors before investing in the IPO as the subscription is subject to market conditions and other factors.
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