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Madhav Copper FPO is a book built issue of Rs 25.50 crores. The issue is entirely a fresh issue of 25 lakh shares.
Madhav Copper FPO bidding started from January 27, 2020 and ended on January 30, 2020. The allotment for Madhav Copper FPO was finalized on Tuesday, February 4, 2020. The shares got listed on NSE SME on February 6, 2020.
Madhav Copper FPO price band is set at ₹100 to ₹102 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹122,400.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Madhav Copper FPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Madhav Copper FPO RHP for detailed information.
IPO Date | January 27, 2020 to January 30, 2020 |
Listing Date | February 6, 2020 |
Face Value | ₹5 per share |
Price Band | ₹100 to ₹102 per share |
Lot Size | 1200 Shares |
Total Issue Size | 2,499,600 shares (aggregating up to ₹25.50 Cr) |
Fresh Issue | 2,499,600 shares (aggregating up to ₹25.50 Cr) |
Issue Type | Book Built Issue FPO |
Listing At | NSE SME |
Share holding pre issue | 24,643,200 |
Share holding post issue | 26,844,000 |
Market Maker portion | 126,000 shares |
Madhav Copper FPO offers 2,499,600 shares. 1,186,800 (47.48%) to NII, 1,186,800 (47.48%) to RII.
Investor Category | Shares Offered |
---|---|
Anchor Investor Shares Offered | - |
Market Maker Shares Offered | 126,000 (5.04%) |
NII (HNI) Shares Offered | 1,186,800 (47.48%) |
Retail Shares Offered | 1,186,800 (47.48%) |
Total Shares Offered | 2,499,600 (100%) |
Madhav Copper FPO opens on January 27, 2020, and closes on January 30, 2020.
IPO Open Date | Monday, January 27, 2020 |
IPO Close Date | Thursday, January 30, 2020 |
Basis of Allotment | Tuesday, February 4, 2020 |
Initiation of Refunds | Wednesday, February 5, 2020 |
Credit of Shares to Demat | Thursday, February 6, 2020 |
Listing Date | Thursday, February 6, 2020 |
Cut-off time for UPI mandate confirmation | 5 PM on January 30, 2020 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
Application | Lots | Shares | Amount |
---|---|---|---|
Retail (Min) | 1 | 1200 | ₹122,400 |
Retail (Max) | 1 | 1200 | ₹122,400 |
Lot Size Calculator |
Nilesh Patel, Rohit Chauhan and Divya Monpara are the promoters of the company.
Share Holding Pre Issue | 73.04% |
Share Holding Post Issue | 63.83% |
Incorporated in 2012, Gujarat based Madhav Copper Ltd (MCL) is engaged in the manufacturing and supply of copper bus bars, copper rods, strips, anodes, sections, enamelled copper wire, and poly wrap submersible winding wire. The copper material produced by the company is used in mechanical and electrical fields for power distribution, generation, transmission and electronic industries.
The company also offers services to assist electrical winding designers in overcoming electrical equipment short-circuit problems and winding making. Madhav Copper Ltd follows the National and International standards such as IES, BS, JIS, NEMA, and ASTM. The manufacturing unit of MCL is situated at Bhavnagar, Gujarat.
The company was listed on NSE Emerge in 2017 to raise funds for working capital requirements and improve brand image. Currently, the company has an Indian Railway project to supply copper products of various sizes and specifications.
Key Strengths
1. Quality products
2. Manufacturing unit in Gujarat
3. Long term client relationship
Particulars | For the year/period ended (Rs in Lakhs) | ||||
---|---|---|---|---|---|
30-Sept-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
Total Assets | 4,910.30 | 4,550.17 | 2,363.78 | 2,271.51 | |
Total Revenue | 9,434.48 | 21,305.04 | 16,910.63 | 7,162.87 | |
Profit After Tax | 260.13 | 421.42 | 196.23 | 86.38 |
The market capitalization of Madhav Copper FPO is Rs 276.86 Cr.
Pre IPO | Post IPO | |
---|---|---|
P/E (x) | 53 |
The company proposes to utilize the net proceeds towards the following objects:
1. Purchase of Plant & Machinery
2. Prepayment/ Repayment of certain secured borrowings of the company
3. Funding the working capital requirements
4. General Corporate Purposes
[Dilip Davda] The company rewarded investors of IPO well as it gave two free scrips and did a split of face value. However, the current market price at a P/E of around 81 and FPO pricing at a P/E of around 53 makes it an aggressively priced offer compared to peers as well as the industry average. As the coffers are empty, new investors will have to wait for long and thus similar gains are remote possibilities. There is no harm in giving this issue a miss. Read detail review...
The Madhav Copper FPO is subscribed 1.74 times on January 30, 2020 6:00:00 PM. The public issue subscribed 1.77 times in the retail category, times in the QIB category, and 1.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
Category | Subscription (times) |
---|---|
NII | 1.72 |
Retail | 1.77 |
Total | 1.74 |
Listing Date | February 6, 2020 |
BSE Script Code | |
NSE Symbol | MCL |
ISIN | INE813V01022 |
Final Issue Price | ₹102 per share |
Price Details |
---|
Final Issue Price |
Open |
Low |
High |
Last Trade |
NSE SME |
---|
₹102.00 |
₹102.00 |
₹98.10 |
₹102.00 |
₹99.75 |
Madhav Copper Ltd
Plot No. 2107/D, Office No. 203,
2nd Floor, D&I Excelus,
Waghawadi Road, Bhavnagar, Gujarat 364001
Phone: +91 278 2221034
Email: investors@madhavcopper.com
Website: http://www.madhavcopper.com
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Madhav Copper FPO is a SME FPO of 2,499,600 equity shares of the face value of ₹5 aggregating up to ₹25.50 Crores. The issue is priced at ₹100 to ₹102 per share. The minimum order quantity is 1200 Shares.
The FPO opens on January 27, 2020, and closes on January 30, 2020.
Bigshare Services Pvt Ltd is the registrar for the FPO. The shares are proposed to be listed on NSE SME.
The Madhav Copper FPO opens on January 27, 2020 and closes on January 30, 2020.
Madhav Copper FPO lot size is 1200 Shares, and the minimum amount required is ₹122,400.
You can apply in Madhav Copper FPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Madhav Copper FPO will be done on Tuesday, February 4, 2020, and the allotted shares will be credited to your demat account by Thursday, February 6, 2020. Check the Madhav Copper FPO allotment status.
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