Madhusudan Masala Limited
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Madhusudan Masala Limited's has transitioned to a publicly listed entity following its IPO debut on Sep 26, 2023 at the NSE exchange. The public offering successfully raised 34,00,000 Shares, consisting of 34,00,000 Sharesin new capital.
The IPO featured a competitive price range of ₹66 to ₹70 and minimum application size of 2000 shares. Market reception was evidenced through subscription activity between Sep 18, 2023 and Sep 21, 2023, reflecting investor appetite for the offering.
Allotment of shares was completed on Sep 23, 2023, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 1996, Madhusudan Masala Limited manufactures over 32 types of spices under the brands "DOUBLE HATHI" and "MAHARAJA" and also offers whole spices, tea, and grocery products like Rajgira flour, Papad, Soya products, Asafoetida, black salt, and rock salt. The company operates two segments: Ground Spices, including Chilli, Turmeric, and Coriander powders, and Blend Spices, including Garam Masala, Tea Masala, Pav Bhaji Masala, Kitchen King Masala, and Chicken Masala. Its manufacturing facility in Hapa, near Jamnagar, is ISO 9001:2015, ISO 22000:2018, HACCP certified, and FSSAI licensed. Madhusudan Masala recorded revenues of ₹12,721.60 Lacs in FY23. The company’s IPO will list on NSE SME.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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- Mr. Dayalji Vanravan Kotecha
- Mr. Vijaykumar Vanravan Kotecha
- Mr. Rishit Dayalaji Kotecha
- Mr. Hiren Vijaykumar Kotecha
Madhusudan Masala Limited
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