Manoj Ceramic IPO: Check Out Issue Price, Price Band & More


by Sandip Das on 27 December 2023,  5 min read

Manoj Ceramic IPO: Check Out Issue Price, Price Band & More - MyDhanush Blogs by Ashika

Manoj Ceramic Limited, (MCPL) specializing in ceramic tiles and tile adhesives, initiated its initial public offering (IPO) on December 27, 2023, slated to conclude on December 29, 2023. With a price set at Rs 62 per share, the IPO consists of a fresh issue of 23.34 lakh shares. MCPL IPO is scheduled for listing on BSE SME.

For application, the minimum lot size stands at 2000 shares. Retail investors need to commit a minimum investment of Rs 1,24,000. High Net Worth Individuals (HNI) need to invest in a minimum of 2 lots, equivalent to 4,000 shares, totaling Rs 2,48,000.

Company NameManoj Ceramic Limited
Issue Period27 Dec 2023 to 29 Dec 2023
Issue Size (No. of Shares)2334000
Face Value10
Issue Price62
Market Lot2000
Minimum Bid Quantity2000
Maximum Bid Quantity2216000
Lead ManagersSwaraj Shares and Securities

About the Company:

The company, established in 1991, boasts a product portfolio comprising ceramic tiles and tile adhesives. Its extensive network of dealers spans across the western and southern regions of India. It primarily focuses on Maharashtra, Goa, Tamil Nadu, and Karnataka.

Also read: Shri Balaji Valve Components IPO: Check Out Price Band, Face Value & More

Company Financials

For the year 2022, Manoj Ceramic Limited’s revenue from operations increased to Rs 4297.96 lakh. The company’s profit after tax (PAT) rose to Rs 90.78 lakh.

The company for the year 2023 reported PAT of Rs 369.12 lakh while its revenue moved up to Rs 7,260.94 lakh.

About the Issue

The company has set the price band at Rs 62 per share. It offers an entirely fresh issue of 23.34 lakh shares. The minimum lot size for an application stands at 2000 shares. It requires a minimum investment of Rs 1,24,000 for retail investors and 2 lots (equivalent to 4,000 shares) totaling Rs 2,48,000 for HNIs.

The anticipated allocation finalization for the MCPL IPO is scheduled for Monday, January 1, 2024. Subsequently, the IPO is set for a tentative listing on BSE SME, projected to occur on January 3, 2024.

Objectives of the Issue
Particulars Amount (Rs  in Lakhs) % of Net Proceeds
For funding of working capital requirements 950.00 74.90%
For General Corporate Purposes 3,08.36 24.51%
Total 1,258.36 100.00

The company plans to utilize the proceeds from the issue to cover working capital expenses and for general corporate purposes.

IPO Reserve Portion

Retail investors have been allocated approximately 50 percent of the net issue, whereas the remaining 50 percent has been designated for other categories.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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