Madhusudan Masala SME IPO hits Street; Issue price, listing date, other key details to know

Madhusudan Masala IPO: Madhusudan Masala’s initial public offer (IPO), to raise an estimated Rs 23.8 crore, opened for subscription on Monday, September 18. The bidding process for the public offer, which comprises fresh issuance worth Rs 23.8 crore, will conclude on Thursday, September 21. Madhusudan Masala is a manufacturer of spices and other food products.

Here are a few important details to know about the Madhusudan Masala IPO:

Important dates: Madhusudan Masala IPO allotment date, Madhusudan Masala IPO listing date

Under the IPO, bidding will be open from 10 am to 5 pm for three trading days, ending September 21. The basis for the allotment of shares is set to take place tentatively on September 26, and the credit of shares into the accounts of winning bidders on September 29. The Madhusudan Masala stock is set to be listed on stock exchange NSE’s SME platform, on October 3.

Madhusudan Masala IPO issue price

A price band of Rs 66-70 apiece has been fixed for the IPO, under which, potential investors can bid for shares in multiples of 2,000 shares (translating to Rs 1,32,000-1,40,000 per lot).

Investor reservation

While 50 per cent of issue is reserved for qualified institutional buyers (QIBs), 15 per cent is meant for non-institutional investors (NIIs)—also known as high net-worth individuals, and the remaining 35 per cent set aside for retail investors.

Madhusudan Masala IPO official registrar

The official registrar of the issue is Kfin Technologies.

What does Madhusudan Masala do?

Engaged in the manufacturing and processing of more than 32 types of spices under the brands Double Hathi and Maharaja, Madhusudan Masala offers a host of products including whole spices, tea, and grocery products like Rajgira flour, papad, soya products, hing, pickle masala and dry fenugreek.

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