Madhusudan Masala Limited is engaged in the business of manufacturing and processing of more than 32 types of Spices under the brand names of “DOUBLE HATHI” and “MAHARAJA”.
The company also sell products like: Whole Spices, Tea and Other Grocery Products like: Rajgira flour, Papad, Soya Products, Asafoetida (Hing), Achar masala (Ready to make pickle powder), Sanchar (Black salt powder), Sindhalu (Rock salt powder), Katlu powder (Food supplement), Kasuri Methi (Dry fenugreek) etc under the brand name of “DOUBLE HATHI”. Furthermore Madhusudan Masala also generate revenue from trading of whole spices and food grains through unbranded sales.
The company has been selling its products under the brand name of “DOUBLE HATHI” since 1977 and under the brand name of “MAHARAJA” since 2003.
Madhusudan Masala range of spices includes:
- Ground Spices: Which comprises of various varieties of Chilli Powder, Turmeric Powder, Coriander Powder and Coriander Cumin Powder.
- Blend Spices: Which comprises of Garam Masala, Tea Masala, Chhole Masala, Sambhar Masala, Pav Bhaji Masala, Pani Puri Masala, Sabji Masala, Kitchen King Masala, Chicken Masala, Meat Masala, Chatpata Chat Masala, Butter Milk Masala, Chewda Masala, Dry Ginger Powder (Sunth), Black Pepper Powder (Mari), Dry Mango Powder (Aamchur) etc.
Madhusudan Masala operate from its manufacturing facility located at Jamnagar, Gujarat. The company manufacturing facilities are accredited with ISO 9001:2015 for quality management system, ISO 22000:2018 for Food Safety Management System, HACCP for
Hazard Analysis Critical Control Points and with FSSAI license under Food Safety and Standards Act 2006.
Madhusudan Masala IPO – Details
| IPO Opening Date | 18 September 2023 |
| IPO Closing Date | 21 September 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 34,00,000 Shares Worth ₹23.80 Crore Fresh Issue: 34,00,000 Shares Worth ₹23.80 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹66 – ₹70 |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | KFin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Madhusudan Masala IPO – Date Schedule
| IPO Open Date | 18 September 2023 |
| IPO Close Date | 21 September 2023 |
| Basis of Allotment | 26 September 2023 |
| Initiation of Refund | 27 September 2023 |
| Credit of Shares to Demat Account | 28 September 2023 |
| IPO Listing Date | 29 September 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 21, 2023 |
Madhusudan Masala IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 2000 | 1,40,000 |
| Retail (Maximum) | 1 | 2000 | 1,40,000 |
| HNI (Minimum) | 2 | 4000 | 2,80,000 |
Competitive Strengths
- The company has a recognized brand name with heritage and a legacy of over four decades.
- Consistent focus on quality.
- Long Standing Relationship with there customers.
- Diversified product portfolio.
- In house manufacturing capabilities.
Company Promoters
- Dayalji Vanravan Kotecha
- Vijaykumar Vanravan Kotecha
- Rishit Dayalaji Kotecha
- Hiren Vijaykumar Kotecha
Object Of The Issue
- Funding to meet working capital requirements.
- General corporate purposes.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 68.75 | 68.13 | 0.45 | 9.66 |
| 31 March 2022 | 66.51 | 65.54 | 0.81 | 28.19 |
| 31 March 2023 | 127.50 | 119.77 | 5.75 | 42.17 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 15.70 |
| Market Cap (₹ Cr.) | 90.30 |
| ROE | 101.91 |
| ROCE | 20.08 |
| Debt/Equity | 3.84 |
| EPS (Rs) | 6.94 |
| RoNW | 52.40 |
Madhusudan Masala IPO Promoter Holding
| Pre Issue Share Holding | 81.81% |
| Post Issue Share Holding | – |
Madhusudan Masala IPO Prospectus
- Madhusudan Masala IPO DRHP
- Madhusudan Masala IPO RHP
Company Contact Information
| Madhusudan Masala Limited F. P. No. 19, Plot No. 1 – B Hapa Road, Jamnagar, Gujarat-361001 India Phone: +91- 0288 – 2572002 Email: info@madhusudanmasala.com Website: www.madhusudanmasala.com |
Madhusudan Masala IPO Registrar
| KFin Technologies Limited Phone: +91 40 6716 2222 Email: mml.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Madhusudan Masala IPO Lead Manager(s)
| 1. Hem Securities Limited |
Madhusudan Masala IPO FAQs
| What is Madhusudan Masala IPO? Madhusudan Masala IPO is a SME IPO. The issue is priced at ₹66 – ₹70 per equity share. The IPO is to be listed on NSE SME. |
| When Madhusudan Masala IPO will open? The IPO is to open on 18 September 2023 for QIB – 50%, NII – 15% and Retail – 35% Investors. |
| How to Madhusudan Masala IPO? You can apply Madhusudan Masala IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Madhusudan Masala IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Madhusudan Masala”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Madhusudan Masala IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Madhusudan Masala”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is Madhusudan Masala IPO Size? Madhusudan Masala IPO size is ₹23.80 crores. |
| What is Madhusudan Masala IPO Price Band? Madhusudan Masala IPO Price Band is ₹66 – ₹70. |
| What is Madhusudan Masala IPO Minimum and Maximum Lot Size? The minimum bid is 2000 Shares with ₹1,40,000 amount while the maximum bid is 2000 shares with ₹1,40,000. |
| What is the Madhusudan Masala IPO Allotment Date? Madhusudan Masala IPO allotment date is 26 September 2023. |
| What is the Madhusudan Masala IPO Listing Date? Madhusudan Masala IPO listing date is 29 September 2023. The IPO is to list on NSE SME. |
