The initial public offering (IPO) of MCON Chemicals India Limited began on March 6 and will end on March 10. The total issue size of the company comprises of 17,10,000 equity shares. The price range was set by the firm at Rs. 40 per share. MCON Chemicals IPO received 74.45 times oversubscription on the second day. On March 8, 2023, the Public Offering was oversubscribed 115.87 times to retail as well as 33.03 times NII subscription.
The retail investors component of the MCON Chemicals India IPO had a positive response, which was subscribed 23.41 times. The non-institutional (NII) investor portion was subscribed 7.42 times on day one. At the end of the first day the total number of bids received for the issue totaling 17,10,000 Equity Shares was 2,56,44,000 Equity Shares. On 06 March 2023 (Day 1), MCON Chemicals India IPO subscribed 32.65x by Retail Individual Investor (RII) and 16.23x by Non-Institutional Investor (NII), however, on 08 March 2023 05:07 PM (Day 2) However, MCON Rasayan India IPO was subscribed 115.87x by RII and 33.03x by NII.
Retail investors can apply for 1 lot or 3000 shares or up to 120,000 of MCON Chemicals IPO, as the lot size is 3000 shares. SME IPO with a face value of 1,710,000 equity shares total value of up to 10 more 6.84 Cr is Amcon Chemicals IPO.
Gray Market Premium (GMP) trading usually starts 3-4 days before the IPO opens and continues till the day of listing; In case of MCON Chemicals IPO, GMP price to commence on February 27, 2023 27. However, Amcon Chemicals India’s latest IPO GMP is today Looking at the price band of 26 and 40, The proposed listing price for MCON Chemicals India SME IPO is 66 (Today’s issue price of GMP+ 40). Therefore, a very significant and substantial listing premium of 65% over the listing price can be seen in the estimated profit/loss per share for MCON Chemicals India Limited.
Advanced building materials and construction chemicals are the focus of MCON Chemicals India Limited, established in 2013, which also markets and distributes them. With 100 distributors and 1300 retailers, it has two production facilities and operations in three states, mostly Maharashtra, Gujarat and Rajasthan.
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