In this article, we will explain what Madhusudan Masala IPO GMP is all about and why its IPO is generating interest among investors. Madhusudan Masala Limited is a company that specializes in spices and grocery products, is all set to spice up the investment market with its Initial Public Offering (IPO).Â
MADHUSUDAN MASALA IPO GMP DETAILS
Let’s explore the specifics of Madhusudan Masala’s IPO:
Issue Size: The total issue size is Rs 23.80 Crores.
Price Per Share: The IPO price range is ₹66 to ₹70 per share.
Listing: The IPO will be listed on NSE SME.
IPO Dates: The IPO is open for subscription from September 18, 2023, to September 21, 2023.
Face Value: ₹10 per share.
Lot Size: The minimum lot size is 2000 shares.
Total Issue Size: 3,400,000 shares.
Madhusudan Masala IPO GMP (Grey Market Premium) today is ₹20.
Expected returns for the Madhusudan Masala IPO are estimated at 29%.
ALSO READ :
ABOUT MADHUSUDAN MASALA IPO GMP
Madhusudan Masala Limited specializes in producing over 32 types of spices, proudly marketed under the brand names “DOUBLE HATHI” and “MAHARAJA.”
Beyond spices, they extend their product line to include Whole Spices, Tea, and a diverse array of Grocery Products, all proudly labelled as “DOUBLE HATHI.”
This extensive product range encompasses items 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), and much more.
MADHUSUDAN MASALA PRODUCT SEGMENTS
Madhusudan Masala is divided into two main product segments:
Ground Spices:
The category of Ground Spices offered by Madhusudan Masala includes essentials such as Chilli Powder.
It also features popular spices like Turmeric Powder.
Additionally, this category offers Coriander Powder, a kitchen staple.
For a unique blend of flavours, Coriander Cumin Powder is also part of this category.
Blend Spices:
Madhusudan Masala caters to those seeking convenience with a range of readymade spice blends.
Their offerings include the aromatic Garam Masala blend, perfect for enhancing the flavor of dishes.
Tea Masala is available for those who enjoy spiced tea.
The Chhole Masala blend simplifies the preparation of delicious chickpea dishes.
Sambhar Masala is among the options, making South Indian cuisine easier to prepare.
 Various other spice blends are also on offer, simplifying your culinary adventures.
MADHUSUDAN MASALA QUALITY ASSURANCE
Quality is a top priority for Madhusudan Masala, reflecting their commitment to excellence.
Their manufacturing facility, situated in Industrial Area Hapa near Jamnagar, is accredited with ISO 9001:2015 for quality management.
In addition to quality, they prioritize food safety, holding ISO 22000:2018 certification for Food Safety Management.
The facility adheres to HACCP standards, ensuring Hazard Analysis Critical Control Points are rigorously monitored.
Further ensuring safety and compliance, Madhusudan Masala possesses an FSSAI license under the Food Safety and Standards Act 2006.
MADHUSUDAN MASALA FINANCIAL PERFORMANCE
The financial performance of a company holds great importance for potential investors.
Madhusudan Masala’s revenue figures for the fiscal years 2021, 2022, and 2023 showcase their growth:
In 2021, they recorded revenues of Rs. 6,868.03 Lakhs.
In 2022, the revenue stood at Rs. 6,540.81 Lakhs.
Notably, in 2023, they achieved impressive revenue of Rs. 12,721.60 Lakhs.
MADHUSUDAN MASALA IPO RESERVATION
The IPO reservation categories are as follows:
 QIB Shares: Not more than 50.00% of the Net offer.
 NII (HNI) Shares: Not less than 15.00% of the Offer.
 Retail Shares: Not less than 35.00% of the Offer.
MADHUSUDAN MASALA Â COMPANY FINANCIALS
Here’s a summary of Madhusudan Masala’s financial performance:
  Assets:
    As of March 31, 2021: Rs. 2,599.90 Crores
    As of March 31, 2022: Rs. 3,514.29 Crores
    As of March 31, 2023: Rs. 5,736.52 Crores
  Revenue:
For the year ending March 31, 2021: Rs. 6,875.18 Crores
    For the year ending March 31, 2022: Rs. 6,651.81 Crores
    For the year ending March 31, 2023: Rs. 12,750.57 Crores
  Profit After Tax:
    As of March 31, 2021: Rs. 44.98 Crores
    As of March 31, 2022: Rs. 81.29 Crores
    As of March 31, 2023: Rs. 575.89 Crores
  Net Worth:
    As of March 31, 2021: Rs. 1,094.09 Crores
    As of March 31, 2022: Rs. 31.07 Crores
    As of March 31, 2023: Rs. 1,099.10 Crores
  Reserves and Surplus:
    As of March 31, 2022: Rs. 30.07 Crores
    As of March 31, 2023: Rs. 599.10 Crores
  Total Borrowing:
    As of March 31, 2021: Rs. 966.40 Crores
    As of March 31, 2022: Rs. 2,819.53 Crores
    As of March 31, 2023: Rs. 4,217.20 Crores
MADHUSUDAN MASALAÂ KEY PERFORMANCE INDICATORS
 ROE (Return on Equity): 101.91%
 ROCE (Return on Capital Employed): 20.08%
 Debt/Equity Ratio: 3.84
 EPS (Earnings per Share): Rs. 6.94
 RoNW (Return on Net Worth): 52.40%
MADHUSUDAN MASALA IPO GMP OBJECTS OF THE ISSUE
Madhusudan Masala intends to utilize the net proceeds from the IPO for:
- Funding Working Capital Requirements
- General Corporate Purposes
MADHUSUDAN MASALAÂ IPO TIMETABLE (TENTATIVE)
 IPO Opens: September 18, 2023
 IPO Closes: September 21, 2023
 Basis of Allotment: September 26, 2023
 Initiation of Refunds: September 27, 2023
 Credit of Shares to Demat: September 28, 2023
 Listing Date: September 29, 2023
 Cut off time for UPI mandate confirmation: 5 PM on September 21, 2023
MADHUSUDAN MASALAÂ IPO LOT SIZE
The minimum lot size for the Madhusudan Masala IPO is 2000 shares, requiring an investment of ₹140,000.
MADHUSUDAN MASALAÂ PROMOTER HOLDING
The company’s promoters are Mr. Dayalji Vanravan Kotecha, Mr. Vijaykumar Vanravan Kotecha, Mr. Rishit Dayalaji Kotecha, and Mr. Hiren Vijaykumar Kotecha.
Currently, the preissue shareholding is at 100.00%, and this will decrease to 73.64% after the IPO.
COMPANY CONTACT INFORMATION
 Address: F. P. No. 19, Plot No. 1  B Hapa Road, Jamnagar  361001
 Phone: +91 0288  2572002
 Email: info@madhusudanmasala.com
 Website: (https://www.madhusudanmasala.com/)
Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
 Email: mml.ipo@kfintech.com
 Website:(https://kosmic.kfintech.com/ipostatus/)
CONCLUSION
The Madhusudan Masala IPO GMP offers investors an opportunity to spice up their portfolios with a company that has a strong foothold in the spice and grocery products industry. With a robust financial performance and clear objectives for the IPO proceeds, Madhusudan Masala Limited presents an intriguing investment prospect. Make sure to do your due diligence before considering this spicy investment opportunity.