{"id":26565,"date":"2023-09-16T05:21:00","date_gmt":"2023-09-16T05:21:00","guid":{"rendered":"https:\/\/newswiredelhi.com\/index.php\/2023\/09\/16\/madhusudan-masala-limited-ipo-opens-for-bidding-on-september-18-2\/"},"modified":"2023-09-16T05:21:00","modified_gmt":"2023-09-16T05:21:00","slug":"madhusudan-masala-limited-ipo-opens-for-bidding-on-september-18-2","status":"publish","type":"post","link":"https:\/\/newswiredelhi.com\/index.php\/2023\/09\/16\/madhusudan-masala-limited-ipo-opens-for-bidding-on-september-18-2\/","title":{"rendered":"Madhusudan Masala Limited IPO Opens for Bidding on September 18"},"content":{"rendered":"

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New Delhi (India), September 16:\u00a0<\/strong>Madhusudan Masala Limited, a leading homegrown spice maker, is all set to embark on a new chapter of growth as it announces its initial public offering (IPO). The primary stake sale is set to open for bidding on Monday, September 18 and will run until Thursday, September 21. Madhusudan Masala Limited will offer its shares at a price band of Rs. 66-70 per equity share.<\/p>\n

With a legacy of more than four decades,\u00a0MadhusudanMasala Limited is engaged in manufacturing and processing more than 32 types of Spices under\u00a0its own brand\u00a0names \u201cDouble\u00a0Hathi\u201d and \u201cMaharaja\u201d. The company also deals in whole spices in retail and bulk quantities, as well as\u00a0papad, soya products,\u00a0Asafoetida(Hing), black salt, and rock\u00a0salt under its brand name \u201cDouble\u00a0Hathi\u201d.<\/p>\n

The IPO issue comprises the sale of 34 lakh fresh equity shares, each with a face value of\u00a0Rs. 10, aggregating to\u00a0Rs. 23.80\u00a0crores. The lot size for the IPO is set at 2,000 equity shares, with each lot priced at\u00a0Rs\u00a01,40,000\u00a0at the upper end of the price band. Retail investors are eligible to apply for a single lot, while non-institutional investors have the option to bid for a minimum of two lots.<\/p>\n

The net proceeds from the IPO will be channelled toward fulfilling the company\u2019s working capital requirements, general corporate purposes, and covering issue-related expenses. Hem Securities Limited is the Book Running Lead\u00a0manager to the issue, while\u00a0KfinTechnologies Limited is the registrar to the issue. Shares of\u00a0Madhusudan\u00a0Masala will be listed on the NSE Emerge\u00a0platform of the National Stock Exchange.<\/p>\n

Madhusudan\u00a0Masala\u2019s manufacturing facility is located at Industrial Area\u00a0Hapa, near\u00a0Jamnagar,\u00a0Gujarat. The company has 212 SKU\u2019s of ground spices & blend spices. The company has a network of 2,100 wholesalers and 3,700 retailers in Gujarat, Maharashtra & Rajasthan.<\/p>\n

Madhusudan\u00a0Masala has reserved 1.72 lakh equity shares for market maker portions.\u00a0The company has allocated 50 percent of the net IPO offer to qualified institutional bidders (QIBs), while 15 percent of equity shares are reserved for non-institutional investors. Retail investors will have access to the remaining 35 percent of the offering.<\/p>\n

For the fiscal year ending on March 31, 2023, Madhusudan Masala reported a net profit of Rs 575.89 lakh with a revenue of Rs 12,750.57 lakh. Its EBITDA margin stood at 8.66 per cent, while its profit margin came in at 4.53 per cent in FY23.<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

New Delhi (India), September 16:\u00a0Madhusudan Masala Limited, a leading homegrown spice maker, is all set to embark on a new chapter of growth as it announces its initial public offering […]<\/p>\n","protected":false},"author":1,"featured_media":26566,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_rishi_post_view_count":269},"categories":[9],"tags":[674],"class_list":["post-26565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-pressrelease","rishi-post"],"rishi__cb_customizer_meta":"","comments_count":"0","_links":{"self":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/26565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/comments?post=26565"}],"version-history":[{"count":0,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/26565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media\/26566"}],"wp:attachment":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media?parent=26565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/categories?post=26565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/tags?post=26565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}