MCON Rasayan India Limited IPO
MCON Rasayan India Limited IPO
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MCON Rasayan India Limited's achieved publicly listed status following its IPO debut on 20-03-2023 at the NSE platform. The offering successfully mobilized 17,10,000 Shares, with 17,10,000 Shares allocated to corporate growth initiatives.
Investment participation occurred within the established price band of ₹40 to ₹40, starting from minimum lots of 3000 shares. The subscription window from 06-03-2023 through 10-03-2023 enabled investor participation across market segments.
Share allocation was completed on 15-03-2023, determining ownership distribution among successful applicants. The listing represents a milestone achievement, transitioning the company to regulated public market status with associated responsibilities and opportunities.
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.
MCON Rasayan IPO About Company
Incorporated in 2016, MCON Rasayan India Limited is engaged in the manufacturing, marketing, and selling of modern building materials and construction chemicals. The company offers over 80 products under its brand "MCON," covering both powder and liquid forms. Its powder range includes ready-mix plaster, tile and block adhesives, wall putty, micro concrete, polymer mortar, grouts, and floor hardeners, while its liquid range features PU-based membranes, bonding agents, paints, anti-corrosive coatings, concrete admixtures, and curing compounds. MCON operates two manufacturing plants in Gujarat — one at Valsad with a capacity of 2,500 MTPA, focusing on admixtures, wall putty, and waterproofing systems, and another at Navsari with a 12,500 MTPA capacity for ready-mix mortars and adhesives. Some of its top products include MCON Magic Coat WP, MCON Magic Coat PU White, MCON Mortar/NSA Grey, MCON Micro Mortar, MCON Polymer Mortar EP, and MCON Block Fix.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
MCON Rasayan IPO Strength Factors
NA
MCON Rasayan IPO Risk Factors
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MCON Rasayan IPO Lead Manager(s)
- GYR Capital Advisors Private Limited
MCON Rasayan IPO Promoter(s)
- Mahesh Ravji Bhanushali
MCON Rasayan IPO FAQs
MCON Rasayan India Limited IPO subscribed 384.64 times. The public issue subscribed -- times in the retail category,--times in QIB, and -- times in the HNI (10+) category byNovember 12, 2025 8:28:35 AM (Day 12).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
MCON Rasayan IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
MCON Rasayan IPO FAQs
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